17 October, 2024
Cathay welcomes initiatives in the Government’s Policy Address to further reinforce Hong Kong’s leading international aviation hub status
The Destination by Hyatt Brand reaches new heights with Cheyenne Mountain Resort in Colorado Springs
The mountainside resort will complement the diverse collection of Destination by Hyatt hotels through immersive year-round guest experiences amidst breathtaking landscapes.
World of Hyatt
An Unforgettable Gateway to Experience a Deep Sense of Place
Distinct Event Spaces & Tastes for Any Occasion
World of Hyatt
VINCI Airports reports latest traffic figures
◼ Strong traffic growth recorded this summer, up 6.4% vs 2023, significantly exceeding summer 2019 levels (+4%)◼ Sharp increase in traffic in Europe thanks to good results from the summer season◼ Traffic acceleration in Japan, particularly thanks to good performance of routes with China
PLAY to axe most routes to the US and move some planes to Malta...
AirAsia X shareholders unanimously back value accretive acquisition of Capital A’s aviation business
Stronger together: Upon completion, the new aviation group will offer a comprehensive range of low-cost air travel services across short, medium, and long-haul routes, establishing KLIA as a leading aviation megahub and positioning Asean as a key global transit point
Stronger together: Upon completion, the new aviation group will offer a comprehensive range of low-cost air travel services across short, medium, and long-haul routes, establishing KLIA as a leading aviation megahub and positioning Asean as a key global transit point
AirAsia celebrates guests onboard AirAsia X SEGA Sonic the Hedgehog flight in style!
Vista America celebrating a year of service and innovation
Strategic Investments and Awards Announced
Simulator Investment: Full-motion Bombardier Challenger 300/350 simulator to be introduced in 2025;Fleet Agility: Strategic aircraft relocation to meet seasonal demand and provide crew with international experience;Hertz Partnership: Dedicated Hertz agents for seamless air-to-ground travel integration and enhanced client benefits;Global 7500 Fleet: Dedicated Bombardier Global 7500 fleet introduced to the U.S. market, the only to offer guaranteed availability for domestic and intercontinental travel;U.S. Tour: Completed its first-ever U.S. tour of the Global 7500 to demonstrate aircraft performance and capabilities;Wyvern Wingman Certified: Adhering to one of the most rigorous safety practices in private aviation and continuing to surpass these benchmarks;Certified Great Place To Work Earned the distinction highlighting employee satisfaction and career development.
50,000 people voted for their favourite Belgian Icon, jury selects winner from top 5
Lucky Luke, the Atomium, Cycling, Poppies and Shrimp fishers were the most popular designs.
Jury time
- Sandra Kim, who won the Eurovision Song Contest for Belgium in 1986, - Alex Callier, from Hooverphonic, the band that made the iconic safety video for Brussels Airlines, - Philippe Geluck, from the well-known ‘Le Chat’ cartoons, - Michèle George, who won two gold medals during the Paralympic games in Paris 2024,- Sandrine Corman, former miss Belgium and TV Host, - Gabrielle Szwarcenberg, the designer of the Brussels Airlines uniforms, - Elisia Poelman, painter, and Griet Aesaert, who has her own label of designer handbags, and both created the amenity kits for Brussels.
Brussels Airlines’ Belgian Icons
These are the previous Belgian Icons:
Local community groups benefit from East Midlands Airport funding
One group, the Derby West Indian Community Association Steel Band (pictured), came to the airport at the weekend to help put customers in the holiday mood, after they received £2,000 towards new steel pans. The performance was part of EMA’s celebrations for Black History Month. A video of the performance is available here: https://content.presspage.com/uploads/1948/49b4a2e1-93f7-4b75-acba-eb0aa3dafebf/1728733468535-original-d69e3256-b09a-47a9-ba37-4c5bcf75ddc6.mp4?10000y
The EMA Community Fund is dedicated to bringing lasting benefit to those areas most affected by the airport’s operations. Eligible organisations within the Area of Benefit – which stretches to the outer edges of Derby, Nottingham and Leicester to the north, east and south and includes Burton on Trent to the west - can apply for funding.
Part of the £228,000 donated to 81 organisations since April was from the Eco Garden and Low Carbon Energy Funds which are now closed. Over the past three years, this handed out just over £1m for local environmental projects using surcharges levied against noisy aircraft.
£60,000 of these funds is ringfenced to help mark EMA’s 60th anniversary next year, going towards upgrading the Airport Trail - a 6.3-mile walking route around the perimeter of the airport which passes the EMA Aeropark aviation museum and aircraft viewing areas.
Projects that have benefited from EMA Community Fund donations this year include:
· Bennerley Fields School, Ilkeston, was awarded a grant of £2,000 towards their fully accessible school minibus
· Newhall Football Club, Swadlincote, received £1,966 towards sports equipment including pitch maintenance equipment, training goals, posts, respect barriers, a pop-up shelter and funding for kits
· Orchard Primary School, Castle Donington, was awarded £2,000 towards a trim trail in the school playground, installed over the summer holidays. It is available for pupils as well as clubs including Rainbows, Brownies, Guides, Cubs and Scout Groups, and holiday clubs
· 4th Coalville Scout Group received a grant of £2,000 towards the purchase of a new trailer, to transport camping and activity equipment to camps and events.
Projects that have benefited from the EMA Low Carbon Energy Grant and Eco Garden Grant this year include:
· Gotham Sports Arena and Kegworth Tennis Club were each awarded £10,000 towards new LED floodlights
· Nottingham Casuals Rugby Football Club recently won £10,000 towards the purchase of solar panels
· St John Fisher Catholic Voluntary Academy in Alvaston, Derby recently completed the development of their Eco Garden with £9,285 of funding.
EMA’s Community Engagement Manager, Colleen Hempson, said: “We take our responsibilities very seriously as a large employment site which, given our business, has an impact on surrounding communities.
“As well as engaging with our communities all year round, we’re really pleased to be able to give something back through our Community Fund, which can make a big difference to community groups and benefit thousands of people in our area every year.”
You can find out more about the East Midlands Airport Community Fund here.
Pictured above (l-r) Bennerley Field School Accessible Minibus; Kegworth Tennis Club; Orchard Primary School; St John Fisher CVA School; Nottingham Casuals Rugby Football Club; Gotham Sports Arena LEDs; 4th Coalville Scouts; Newhall Football Club
Condor cutting Hamburg services following airport price hike....
Mesa Air Group reports third quarter results
Mesa Air Group has reported third quarter fiscal 2024 financial and operating results this week, showing total operating revenues of $110.8 million, United Express contract revenue 8.0% higher year-over-year. Pre-tax loss of $20.7 million, net loss of $19.9 million, adjusted net loss1 of $9.4 million2, adjusted EBITDAR1 of $10.6 million.
United CPA and Fleet Update:
- Extended increased block-hour rate on E-175 flying in current United CPA through August 31, 2025
- At United’s request, agreed to accelerate transition of fleet to all E-175s by March 1, 2025
- United to reimburse costs up to $14 million associated with transition
- United to purchase two CRJ-700s formerly leased to a third party for total proceeds of $11.0 million, $4.5 million of which will pay down the related outstanding obligations
- Mesa and United remain in discussions for an enhanced CPA to support long-term profitability
Additional Updates:
- During June quarter, entered agreements to sell 23 CF34-8C engines for total proceeds of $33.5 million, $29.0 million of which will pay down U.S. Treasury debt
- Completed all asset transactions to eliminate RASPRO finance lease obligation
- Generated $9.6 million from sale of approximately 2.3 million common shares of Archer Aviation, Inc. (“Archer”), originally acquired for $5.0 million, with Mesa still retaining up to approximately 1.17 million unvested equity warrants4 in Archer
“While we were pleased to experience an 8.0% increase in United Express contract revenue, our third-quarter block-hours were negatively impacted by a lag as we removed CRJ-900s from our contractual fleet and trained pilots to fly our E-175s,” said Jonathan Ornstein, Chairman and CEO. “We generated positive adjusted EBITDAR for the second straight quarter given improving fleet mix and cost control. We continue to monetize our surplus assets and will direct proceeds toward reducing the related obligations and, as a result, interest expense. We were modestly operating cash flow-positive during the third quarter.
“Importantly, we have extended the increased block-hour rate in our CPA with United into next year. United has also agreed to reimburse Mesa for expenses associated with the transition to fully flying E-175 aircraft. The updated financial terms and our ongoing planning with United is critical as we rebuild our E-175 fleet utilization and margin runway through fiscal year 2025. We currently have the pilot resources to fly increased E-175 block hours, and have started the process of recalling pilots from furlough in anticipation of improved aircraft utilization.
“While we are not yet providing a forecast for fiscal year 2025, our focus continues to be on increasing utilization and maintaining overall operational performance,” continued Ornstein. “As we transition into flying all E-175s, we will look to drive additional efficiencies from operating a single fleet type. We will also continue to consider longer-term financial and strategic opportunities to enhance the business.”
________________________
1 See Reconciliation of GAAP versus non-GAAP Disclosures
2 Adjusted net loss primarily excludes $10.0 million of losses from accounting treatment of assets held for sale
3 Excludes cancellations due to weather and air traffic control
4 Vesting subject to Archer aircraft certification and the order and delivery of a specified number of aircraft
Third Quarter Fiscal 2024 Details
Total operating revenues in Q3 2024 were $110.8 million, a decrease of $3.9 million, or 3.4%, from $114.7 million for Q3 2023. Contract revenue increased $1.2 million, or 1.3%, to $95.6 million, compared to $94.4 million in Q3 2023, driven by higher E-175 block-hour rates with United Airlines despite 3.3% fewer block hours. This increase was partially offset by higher deferred revenue in Q3 2024 and the wind-down of the DHL contract.
Pass-through revenue decreased by $5.1 million, or 25.3%, driven by lower pass-through maintenance expense. Mesa’s Q3 2024 results include, per GAAP, the deferral of $2.3 million in revenue, versus the recognition of $1.8 million of previously deferred revenue in Q3 2023. The remaining deferred revenue balance of $12.4 million will be recognized as flights are completed over the remaining term of the United contract.
Total operating expenses in Q3 2024 were $119.8 million, a decrease of $35.1 million, or 22.7%, versus Q3 2023. This decrease primarily reflects a $22.6 million lower asset impairment loss. In addition, maintenance expense decreased by $6.8 million primarily due to lower labor and pass-through costs, and flight operations expense was $6.1 million lower due to decreases in pilot wages and training costs. Depreciation and amortization expense decreased $5.6 million primarily due to the retirement and sale of CRJ aircraft and engines.
Mesa’s Q3 2024 results reflect a net loss of $19.9 million, or $(0.48) per diluted share, compared to a net loss of $47.6 million, or $(1.17) per diluted share, for Q3 2023. Mesa’s Q3 2024 adjusted net loss was $9.4 million, or $(0.23) per diluted share, versus an adjusted net loss of $27.2 million, or $(0.67) per diluted share, in Q3 2023.
Mesa’s adjusted EBITDA1 for Q3 2024 was $8.9 million, compared to an adjusted EBITDA loss of $1.8 million for Q3 2023. Adjusted EBITDAR was $10.6 million for Q3 2024, compared to an adjusted EBITDAR loss of $0.9 million for Q3 2023.
Third Quarter Fiscal 2024 Operating Performance
16 October, 2024
Changes ahead for PLAY as earnings below expectations
FedEx Panda Express completes first-ever roundtrip deliveries........... Continuing support of giant panda conservation
AeroVironment shows off JUMP 20’s advanced maritime capabilities at NATO REPMUS demonstration
el 5 and winds over 20 knots.
Airlines for Europe CEOs set out demands for new EU term
Reinforcing the competitiveness of Europe’s airlinesThe urgent need to reform Europe’s outdated and fragmented airspace to ensure it is fit for today and the future, saving up to 10% of emissions, the equivalent of 90 million tonnes of CO2 over the term of the European Parliament (according to easyJet research)The support of the decarbonisation of aviation, ensuring that the annual investment needs of EUR 61 billion set out in the Draghi Report will be unlocked between 2030-2050.The inclusion of aviation in the new Clean Industrial Deal, to ramp up the production and bring down the cost of Sustainable Aviation Fuels (SAFs). Bringing down the price gap between SAFs and conventional jet fuel will be essential to ensure that the sector meets its ambitious climate goals while remaining globally competitiveCompleting the single market, giving legal clarity to passengers and airlines and ensuring effective and objective oversight of all stakeholders from airports to ANSPs and intermediaries.