News from FlightGlobal – Page 248
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NewsSun Country to ‘grow sensibly’ after reporting small Q4 loss
Sun Country Airlines says it continues to “grow sensibly through the recovery” as it posts a small loss for the fourth quarter of 2021.
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NewsIcelandair opts for early termination of unused government-backed credit
Icelandair Group has notified that it is exiting the government-guaranteed credit facility which has been in place to support the company since September 2020. It entered agreements with the Icelandic government, as well as the financial institutions Islandsbanki and Landsbanki, for a credit facility worth up to $120 million. While ...
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NewsRedmond to succeed Gallagher as Allegiant chief executive
Long-standing Allegiant Travel chairman and chief executive Maurice Gallagher is to hand the chief executive role to company president John Redmond from June.
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NewsFrontier pitches Spirit acquisition as countering USA’s four mega airlines
Frontier Airlines expects its planned acquisition of Spirit Airlines will generate hundreds of millions of dollars in efficiencies and give the combined carrier the scale needed to better compete against the USA’s four mega airlines.
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NewsAmerican firms $200m Gol investment plan
American Airlines has firmed its planned $200 million investment in Gol, under which it is taking a 5.2% stake in the Brazilian budget carrier.
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NewsFrontier Airlines to buy and merge with low-cost rival Spirit Airlines
Frontier Airlines is to acquire and merge with US ultra-low-cost carrier rival Spirit Airlines in a $6.6 billion deal announced today. Under the terms of the merger agreement, which has been unanimously approved by both companies’ boards of directors, Spirit is valued at $2.9 billion and the transaction has a ...
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NewsWet-lease operator SmartLynx to start introducing 737 Max jets
Wet-lease specialist SmartLynx Airlines is to expand its fleet with Boeing 737 Max jets, having agreed to take a pair from lessor SMBC Aviation Capital. The aircraft are both Max 8 variants, powered by CFM International Leap-1B engines. SmartLynx says deliveries of the aircraft are “underway” and that they will ...
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NewsNorse Atlantic receives strong response to pilot recruitment drive
Start-up Norse Atlantic Airways claims it received over 3,000 applications to fill 50 positions for pilots, ahead of the airline’s planned serve launch from Oslo. The carrier says pilot training has commenced and training for cabin crew will begin soon, and it is setting up a US cabin crew base ...
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NewsWizz Air unionisation impasse spurs investor pull-out
One of budget carrier Wizz Air’s investors has opted to sell its shareholding, citing the airline’s policy of refusing to recognise employee unions. The Danish pension fund AkademikerPension says it is selling DKr22 million ($3.4 million) of shares. Its director, Jens Munch Holst, says the investor has held discussions with ...
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NewsKomiaviatrans aims to expand network after avoiding bankruptcy
Russian regional carrier Komiaviatrans is aiming for expansion after an injection of aid from the local government allowed it to avoid collapsing into bankruptcy. The Komi republic’s ministry of economic development states that the airline had recorded debts of Rb4.2 billion ($55 million) in October last year. Government representatives approved ...
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NewsCathay Pacific expected to return to profitability in 2022: HSBC report
Cathay Pacific is expected to return to profitability in 2022 as a result of traffic rebound and pent-up travel demand, according to a HSBC research report, which states “the only way is up” for the embattled Hong Kong carrier.
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NewsIndiGo keeps up fleet transformation as fuel costs bite
Indian low-cost carrier IndiGo aims to largely switch to the Airbus A320neo family by the end of the year, and fully exit the baseline A320.
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NewsFirst production Cessna SkyCourier breaks cover
Textron Aviation has rolled out the first production example Cessna SkyCourier twin-engined utility turboprop, as it eyes delivery to launch customer FedEx Express later this year.
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NewsIndiGo swings to net profit in final quarter of 2021 but Omicron hits new-year demand
Indian low-cost carrier IndiGo swung to a net profit in the three months to 31 December 2021, ending a series of loss-making quarters as the Covid-19 recovery gathers pace.
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NewsVinci expects airports to hit break-even this year after tough 2021 for Gatwick and Japan
Multinational infrastructure firm Vinci expects its airports business to reach break-even on a net basis in 2022, if the public health situation continues to improve. The company – which has 53 airports across 12 countries in its portfolio – says passenger numbers will recover to “around 60%” of 2019 levels ...
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NewsIcelandair embarks on detailed planning to replace remaining 757 fleet
Icelandair Group will look to replace its Boeing 757 fleet from the second half of the decade, following a review of its long-term strategy. Chief executive Bogi Nils Bogason, speaking during the company’s full-year results briefing, stated that the current fleet composition is “very well suited” to its route network ...
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NewsSkywest posts profit for 2021, plans for looming pilot shortage
Regional carrier Skywest Airlines swung to profit in 2021, but says that the impending pilot shortage will negatively affect its 2022 planning.
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NewsWinter storm prompts more than 4,800 cancellations across Midwest USA
A secon harsh winter storm in as many weeks is once again disrupting air travel across the USA, with more than 4,800 flights cancelled by 11:30 Pacific Time.
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NewsLow-cost unit helps Air Astana top pre-crisis traffic levels in 2021
Air Astana Group topped pre-crisis passenger levels last year in carrying a record 6.62 million, almost half of which flew on its low-cost unit FlyArystan.
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NewsEl Al board approves non-binding framework for Arkia acquisition
El Al’s board has approved a non-binding memorandum of understanding in preparation for signing an agreement to acquire fellow Israeli carrier Arkia. Under the proposed transaction El Al will acquire the entire share capital of Arkia from its shareholders, and the airline will become a wholly-owned subsidiary of the Israeli ...