News from FlightGlobal – Page 509
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NewsLOT Polish Airlines parent agrees to buy Condor
The owner of LOT Polish Airlines has agreed to purchase former Thomas Cook Group subsidiary Condor
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NewsAngkasa Pura I to lease ATR freighters for cargo operations
Indonesian airport operator Angkasa Pura I (AP I) is leasing two ATR 72-500 freighters from Pelita Air Service for its logistics arm to operate air cargo services. The company says that the aircraft will operate from Jakarta to Balikpapan and Makassar later this year, but did not specify the nature ...
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NewsNokScoot gets $6.6 million loan from major shareholder
NokScoot has obtained a Bt200 million ($6.56 million) loan from a major shareholder of Nok Air in the form of a promissory note. This was issued by Hatairatn Jurangkool, who owns 24.4% of Nok and is the mother of Nok’s chief executive, Wutthiphoom Jurangkool. In a disclosure to the Stock ...
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NewsJetBlue cautious in Q1 amid Puerto Rico quakes
JetBlue Airways Corporation on 23 January reported a net profit of $161 million during the fourth quarter of 2019 that slightly beat analyst expectations despite being a 5% decline year-on-year versus $170 million in 2018. The New York-based carrier during the fourth quarter reported $2 billion in operating revenue, up ...
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NewsBoeing 737 Max grounding cost Southwest $828m in 2019
Southwest Airlines says that it lost almost a billion dollars in operating income due to the grounding of the Boeing 737 Max aircraft, as it joins other airlines in scrambling to find capacity and make up for the jet’s ongoing problems.
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NewsAsian carriers suspend Wuhan flights in wake of virus outbreak
Several Asian carriers have suspended flights to Wuhan, as the Chinese city is put on lockdown to contain a respiratory virus outbreak.
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NewsUnited commits to EPS target with or without Max
United Airlines focused its 22 January fourth-quarter 2019 financial results call with analysts on the earnings metric itself, with president and soon-to-be chief executive Scott Kirby saying “that is the key metric” given the uncertainty surrounding the return to service of the Boeing 737 Max. “We want to focus our ...
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NewsAir Canada keeps Max out of its schedules through June
Air Canada has extended the absence of the 737 Max from its schedules through 30 June as the grounding of the aircraft drags on and the US Federal Aviation Administration continues its review of whether they are safe to resume service. The Montreal-based carrier’s 22 January announcement comes a day ...
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NewsRegional aircraft lessors and OEMs see unfulfilled demand
Demand for leased regional aircraft is “unfulfilled” and the market offers “unique opportunities” for investors, according to panel participants at the Airline Economics Growth Frontiers conference in Dublin. During the webcasted session, Chorus Aviation Capital president Steven Ridolfi highlighted “real demand for leases in the regional aircraft space that is ...
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NewsHas the growth of LCCs in Asia-Pacific peaked?
There has been a surge in low-cost travel options across Asia-Pacific since the early 2000s – but the sector may now be on the cusp of a slowdown. In the past year, low-cost carriers have stepped up co-operation while seeking to differentiate themselves, but merger and acquisition activity highlights the ...
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NewsAir Niugini could rethink fleet after pushing back Max deliveries
Air Niugini is delaying deliveries of four ordered Boeing 737 Max jets until at least 2024, and indicates it might reconsider operating the aircraft at all. Managing director Alan Milne explains the delay was effected as the Papua New Guinean airline undertook a broader review of its fleet plan, including ...
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NewsSAA should be retained and restructured: ruling party
South Africa’s ruling political party insists that embattled South African Airways should be restructured and retained as the country’s flag-carrier. The African National Congress made the declaration following strategy meetings of its national executive council over 17-20 January. It states that SAA should be “retained as a national airline” but ...
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NewsAir freight executives see subdued 2020 before rebound
The cargo freight market is likely to remain weak this year, industry leaders believe, as it remains hampered by overcapacity and weak growth in several regions around the world.
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NewsGaruda Indonesia names new leadership team
Garuda Indonesia has named a new leadership team at an extraordinary general meeting today, following the dismissal of former chief, Ari Askhara. Irfan Setiaputra will take up the chief executive mantle and Dony Oskaria was named his deputy. Source: Cirium Setiaputra’s LinkedIn profile states that he ...
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NewsMAVCOM fines AirAsia carriers and Malaysia Airports
The Malaysian Aviation Commission (MAVCOM) has imposed fines on local AirAsia carriers and a Malaysia Airports (MAHB) subsidiary for various infringements. AirAsia and AirAsia X were each fined MYR2 million ($491,000) for charging payment processing fees separately from base fares, which contravenes local laws on consumer protection. This is their ...
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NewsCebu expands network to Los Angeles and Doha
Cebu’s Mactan airport will soon expand its network beyond the region, with new services to Los Angeles and Doha starting next quarter. Philippine Airlines (PAL) plans to resume a Cebu-Los Angeles service on 2 May, after a three-year suspension due to capacity rationalisation. The service will be operated thrice-weekly using ...
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NewsHainan forecasts turnaround back into the black
Citing improvements in its main business operations, as well as an increase in asset disposal income, Hainan Airlines forecasts a return to profitability for 2019. In an earnings forecast the carrier states that its net profit will be between CNY450 million ($65.1 million) and 675 million for the year ...
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NewsIcelandair expects minimal impact from new 737 Max delay
Icelandair says that it has made contingency plans so that the renewed delay of the Boeing 737 Max’s return to service will have minimal impact on its summer 2020 schedule and its financial bottom line.
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NewsAir France-KLM downplays Malaysia Airlines stake rumours
Responding to rumours that it plans to acquire a stake in Malaysia Airlines, Air France-KLM states that it “is not a current party to the sales process” of the Kuala Lumpur-based carrier “at this stage”. However, the Franco-Dutch airline group confirms in a statement that it “had previously been in ...
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NewsUnited Q4 2019 non-fuel unit costs up 2.7%
United Airlines’s non-fuel unit costs (CASM ex-fuel) increased by 2.7% year-over-year in the fourth quarter of 2019, while full-year non-fuel costs rose by 1% compared to 2018. In the third quarter of 2019 United’s non-fuel unit costs increased by 2.1% in the third quarter compared with the same period in ...