All Strategy news – Page 50
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News
‘This is not Pepsi buying Coke’: JetBlue chief downplays DOJ lawsuit blocking Spirit deal
The US government’s lawsuit to block JetBlue Airways’ acquisition of competitor Spirit Airlines has prompted a range of strong reactions. But Robin Hayes, chief executive of JetBlue, has downplayed the legal action.
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Brazil’s Gol reports higher earnings amid rise in ‘bleisure’ travel
Brazil’s Gol says the rise of ‘bleisure’ trips – a combination of business and pleasure travel – boosted earnings during the fourth quarter of 2022.
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American Airlines promises pilots significant pay raises
American Airlines’ chief executive Robert Isom has told the carrier’s pilots that the airline “is prepared to match” pay rates and profit-sharing scheme conditions that mainline peer Delta Air Lines’ pilots recently ratified in a new contract.
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Mango administrator appeals decision to cancel grounded carrier’s operating licence
Mango Airlines’ administrator is seeking to overturn a decision to cancel the grounded South African budget carrier’s operating licence.
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Canada’s Cargojet squeezes C$2.6m profit in fourth quarter of 2022
Canadian operator Cargojet squeezed out a C$2.6 million profit in the fourth quarter of 2022 as expenses rose 30% over the previous year and global demand for air cargo trailed off.
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News
US government sues to block JetBlue’s proposed acquisition of Spirit
The US Department of Justice has sued to block JetBlue Airways’ proposed acquisition of rival discount carrier Spirit Airlines after months of scrutinising a deal that would eliminate a low-cost carrier from the market.
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News
ANA to take over Nippon Cargo Airlines
Logistics specialist NYK has entered into an agreement to transfer all shares in Boeing 747 freighter operator Nippon Cargo Airlines (NCA) to Japanese carrier All Nippon Airways Holdings (ANA).
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News
Strong yields drive Pegasus to profits high in 2022
Turkish carrier Pegasus Airlines jumped back to the black last year in posting a record operating profit of €633 million ($674 million) driven by a more than doubling in revenues.
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Portugal dismisses TAP chief and chairman
Portugal’s finance minister has dismissed TAP Portugal’s chairperson Manuel Beja and chief executive Christine Ourmieres-Widener following a report into a controversial severance payment to a former TAP administrator.
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Azul posts record R$15.9bn revenue in 2022
Brazil’s Azul notched record fourth-quarter revenue as passenger travel demand remained strong and cargo continued booming.
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Lufthansa take cautious view on capacity as constraints remain
Lufthansa Group continues to be wary of growth constraints from wider supply chain challenges this year as it expects capacity to climb to between 85-90% of pre-pandemic levels.
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Lufthansa highlights southern hub role as ITA talks continue
Lufthansa Group chief executive Carsten Spohr sees the Rome Fiumicino hub of acquisition target ITA Airways as better positioning it to serve southern hemisphere markets as talks on a deal continue.
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News
Talks under way over possible partial sale of Lufthansa Technik
Lufthansa has begun talks with potential investors over the possible partial sale of Lufthansa Technik, though the MRO unit will remain a key part of the airline group.
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Hong Kong’s Greater Bay orders 15 Boeing 737 Max 9s and eyes 787s
Start-up Hong Kong carrier Greater Bay Airlines has ordered 15 Boeing 737 Max 9s and made a “commitment” to order five 787s.
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Turkish Airlines preparing but in no rush to spin out Anadolu Jet
Turkish Airlines is continuing work on establishing its low-cost unit Anadolu Jet as a standalone operation, though has set no firm plans on a possible IPO for the carrier.
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News
Virgin Atlantic formally joins SkyTeam
Virgin Altantic has formally entered SkyTeam today, joining transatlantic joint venture partners Delta Air Lines, Air France and KLM in the global alliance.
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Airline Business
‘Bigger, better, stronger’: Cebu Pacific targets gains in post-pandemic market
Cebu Pacific’s new chief executive Mike Szucs sees the opportunity to outstrip its pre-crisis financial performance in the years ahead as the Philippine budget carrier emerges from the pandemic.
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Lufthansa extends Spohr’s contract for five more years
Lufthansa Group has extended the contract of chief executive Carsten Spohr for another five years, alongside that of chief financial officer Remco Steenbergen.
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Delta pilots approve new contract
Pilots at Delta Air Lines have approved a new contract that will give them a 34% pay increase by 2026.
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Turkish Airlines doubles revenues and operating profits in 2022
Turkish Airlines almost doubled revenues and operating profits last year as a sharp return in passenger demand helped it to record profitability