Strategy – Page 40
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NewsUS regulators approve deal to take Atlas Air private
US cargo carrier Atlas Air has received regulatory approval to be acquired by an investor group led by Apollo Global Management, which would de-list Atlas from the Nasdaq stock exchange.
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NewsYear-end reopening lifts South Korean LCC earnings
South Korean low-cost operator Jin Air posted its first quarterly operating profit in more than three years, helped by a rebound in travel demand that has also helped boost the earnings of compatriots Jeju Air and T’way Air.
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NewsDOT challenge to Spirit acquisition ‘unprecedented’: JetBlue chief executive
JetBlue’s chief executive Robin Hayes called the US Department of Transportation’s decision to get involved in its proposed acquisition of discount carrier Spirit Airlines “unprecedented”.
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NewsRiyadh Air to take up 72 Boeing 787s, Saudia to sign for 49 more Dreamliners
National start-up carrier Riyadh Air is take up to 72 Boeing 787-9s, including plans for firm orders for 39 Dreamliners, as part of a wider Saudi Arabian commitment which will see Saudia also sign for up to 49 more of the widebodies.
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NewsAir China appoints airline veteran as new president
Air China has promoted vice president Wang Mingyuan to its new president, executive director and vice chairman.
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NewsUnited cuts Q1 earnings expectation due to ‘seasonality shift’ in travel behaviour
United Airlines has reduced its revenue expectations for the first quarter of 2023 due to a “seasonality shift” in post-pandemic passenger travel behaviour.
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NewsEVA Air buys five 787s in $1.8 billion deal
Taiwan’s EVA Air is to purchase five Boeing 787-9s, in a deal valued at around $1.78 billion in list prices.
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NewsCanadian government approves WestJet’s acquisition of Sunwing
The government of Canada has approved WestJet’s acquisition of Sunwing Airlines and Sunwing Vacations following a thorough review.
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NewsLATAM Airlines swings to profit in Q4 of ‘milestone year’
LATAM Airlines Group posted a profit for the final quarter of 2022, just months after it became the last of three Latin American airlines to emerge from voluntary restructuring precipitated by the Covid-19 pandemic.
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NewsAggressively expanding GlobalX posts $4.4m Q4 loss
Fledgling US carrier Global Crossing Airlines (GlobalX) lost $4.4 million during the fourth quarter of 2022 as it pursues an aggressive expansion plan.
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NewsRevenue surges as Air Transat posts C$57m loss in first fiscal quarter
Fiscal first-quarter revenue for Transat AT – parent company of Canadian leisure airline Air Transat – reached C$667 million ($483 million), more than triple the company’s C$202 million revenue during the same quarter in 2022.
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NewsANA unit reveals cabin products; set for February 2024 launch
AirJapan, the newly-launched medium-haul unit of Japan’s ANA Holdings, will commence operations in February 2024, flying to unspecified points in Southeast Asia.
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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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NewsBrazil’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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NewsAmerican 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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NewsMango 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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NewsCanada’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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NewsUS 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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NewsANA 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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NewsStrong 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.