SkyWest releases fourth quarter and annual 2022 results

SkyWest Airlines has a fleet of over 500 aircraft connecting passengers to over 230 destinations throughout North America. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines carrying more than 40 million passengers in 2022. Earlier this week the company released fourth quarter and annual 2022 results.

Fourth Quarter and Annual 2022 Summary

Full year 2022 pre-tax income of $93 million, net income of $73 million, or $1.44 per diluted share

Q4 2022 pre-tax loss of $62 million, net loss of $47 million, or $0.93 loss per share

Secured amendments under the majority of SkyWest’s flying contracts to provide increased compensation for SkyWest’s current pilot pay scales

Took delivery of four E175 aircraft for Delta Air Lines (“Delta”) during Q4 2022 under previously announced agreements

SkyWest, Inc. has reported financial and operating results for Q4 2022, including net loss of $47 million, or $0.93 loss per share, compared to a net income of $4 million, or $0.09 per diluted share, for Q4 2021. The Q4 2022 results:

reflect $69 million of deferred revenue related to fixed monthly cash payments received under SkyWest’s newly amended flying contracts;

include a $36 million non-cash impairment charge on ten CRJ700 aircraft that were placed under a held-for-sale arrangement; and

include an $11 million accelerated expense on 21 leased CRJ aircraft that are in the process of being stored prior to the lease expiration.

SkyWest also reported net income of $73 million, or $1.44 per diluted share, for the 2022 year, compared to net income of $112 million, or $2.20 per diluted share, for the 2021 year and adjusted net income of $176 million1, or $3.46 per diluted share, for the 2021 year.

Commenting on the results, Chip Childs, Chief Executive Officer of SkyWest, said, “We continue to experience strong demand for our product, and our teams performed exceptionally well through the busy holiday season to deliver a solid 99.9% adjusted completion rate for the fourth quarter. Also during the quarter, we were pleased to have finalized amendments to the flying contracts with a majority of our partners to reflect our increased pilot scales. I want to thank our people for their dedicated, world-class efforts to deliver a strong, reliable product.”

Financial Results

Boost for aspiring young aviators as government provides funding for outreach programmes

The Reach for the Sky Challenge Fund will help to get young people from all backgrounds into aviation.

The Uk government is today announcing the winners of its Reach for the Sky Challenge Fund, which will help to get young people from all backgrounds into aviation.

Eleven non-profit organisations have been selected, with £700,000 going to fund outreach programmes and events to show the next generation what opportunities the aviation sector can offer.

For those who have previously struggled to get a foothold in this exciting industry, the aim of the fund is to break down barriers – targeting those schemes which provide an entry point for people who are from underprivileged backgrounds or under-represented groups.

It forms part of the new Generation Aviation campaign which recognises that, for the sector to successfully adapt to the challenges of tomorrow, it needs a robust, open, and diverse workforce – with a reliable pool of talent from the full range of science, technology, engineering and mathematics (STEM) fields and other critical roles.

The Transport Secretary will announce the winners today at the very first Aviation Council – one of the first commitments in the government’s 10-year strategy for the sector, Flightpath to the Future.

Transport Secretary Mark Harper said:

"Innovation propels aviation and for it to face up to tomorrow’s challenges it needs an open and diverse workforce that can bring fresh ideas and ways of working.

Our Reach for the Sky Challenge Fund recipients will be key to that, inspiring the next generation into the sector and helping to build an aviation workforce fit for the future.

I was pleased to chair the first ever Aviation Council today and continue our healthy collaboration with industry, supporting it in every way we can, so it can continue to push boundaries."

Among the 11 winning organisations are:

Hyatt completes take over of Dream Hotel Group

The addition of Dream Hotel Group further strengthens Hyatt’s global lifestyle footprint and accelerates asset-light growth

Dream Hollywood (Photo: Business Wire)

Hyatt Hotels Corporation has confirmed the completion of the Dream Hotel Group lifestyle hotel brand and management platform acquisition, bringing a vibrant portfolio of lifestyle hotel brands – including Dream Hotels, The Chatwal and Unscripted Hotels – into the Hyatt portfolio. The asset-light acquisition includes 12 lifestyle hotels (nine managed and three licensed), with another 24 signed long-term management agreements for hotels expected to open in the future.

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Dream Hotel Group properties are known for their progressive design and vibrant dining and nightlife that are the soul of each hotel. They boast unique and authentic hospitality experiences built on inventive activations and design-savvy spaces that inspire creativity and act as social hubs for guests as well as local communities.

The acquisition welcomes more than 600 new colleagues into the Hyatt family, bringing deep expertise in experiential hospitality to Hyatt’s global portfolio of lifestyle offerings and extending Hyatt’s brand footprint in strategic destinations including Nashville, Hollywood, Las Vegas, South Beach, Saint Lucia, Doha and several new locations new in New York City. It will also include new markets such as the Catskills in New York and Valle de Guadalupe in Mexico.

“Hyatt’s acquisition of Dream Hotel Group represents an exciting chapter in our asset-light growth as we expand our lifestyle offerings, providing global travellers with an increased number of elevated experiences – now, and in the future,” said Mark Hoplamazian, president and chief executive officer, Hyatt. “Together, we will carefully preserve the spirit and individual identities of the sought-after Dream Hotel Group hotels while adding the commercial strength of Hyatt’s marketing and sales channels, all united under the World of Hyatt loyalty program.”

Dream Hotel Group founder Sant Singh Chatwal will continue his commitment as an owner of four open and two future hotels that are expected to join the Hyatt portfolio.

Qantas has launched a sale with discounted fares to 26 destinations across the airline’s international network and will launch a new route between Melbourne and Jakarta.

Qantas has launched a sale with discounted fares to 26 destinations across the airline’s international network and will launch a new route between Melbourne and Jakarta.

QANTAS INTERNATIONAL SALE

More than 170,000 seats are up for grabs, with the sale fares up to 35 per cent below the normal lead-in fares. Discounts vary from route to route and selected travel dates and days apply. Examples of some of the sale fares include:

• Melbourne – Delhi from $999 return
• Melbourne – London from $1,699 return
• Melbourne – Singapore from $759 return
• Melbourne – Dallas/Fort Worth from $1,899 return
• Sydney – Los Angeles from $1,299 return
• Sydney – Santiago from $1,699 return
• Sydney – Bengaluru from $999 return
• Sydney – Seoul from $949 return
• Brisbane – Singapore from $759 return
• Perth – Singapore from $599 return

The sale runs until Tuesday, 7 February 2023, unless sold out prior.*

Aviation Capital Group Announces Delivery of One Boeing 737-9 MAX to Copa Airlines

Aviation Capital Group announced the delivery of one new Boeing 737-9 MAX aircraft on long-term lease to Copa Airlines earlier this week.  This Boeing 737 MAX aircraft, powered by CFM International LEAP-1B engines, is the final aircraft to deliver to the airline as part of a multiple-aircraft sale-and-lease back transaction between ACG and Copa Airlines.

Aviation Capital Group was founded in 1989 and is one of the world’s premier full-service aircraft asset managers with approximately 480 owned, managed and committed aircraft as of September 30, 2022, which are leased to approximately 90 airlines in approximately 45 countries. ACG is a wholly owned subsidiary of Tokyo Century Corporation.

Singapore Airlines named as one of the 50 most admired companies in the world.

Fortune magazine has named Singapore Airlines one of the 50 most admired companies in the world.

The airline said in a statement "We would like to thank our customers for their continuous support, which we do not take for granted. This accolade is a testament to the dedication of our people, who have been critical to our recovery and who strive to exceed the expectations of our customers every single day."

For more details, visit https://bit.ly/3XW3YLP.

Other airlines on the list include Delta Air Lines, Lufthansa, Cathay Pacific, Southwest, Air France-KLM, Alaska Air and United. 

Arajet firms up deal with Eurodistribution for global marketing of air tickets

Arajet, the low-price Dominican airline, has signed a commercial agreement with Eurodistribution for the global marketing of the airline’s tickets to 17 destinations in North, Central, South America and the Caribbean. The agreement will allow Arajet to market its low-fare tickets to IATA and non-IATA agencies, OTAs, aggregators, metasearch engines and consolidators worldwide.

Arajet operates with a fleet of five new Boeing 737 MAX 8 and offers direct flights from its base in Santo Domingo, Dominican Republic to 17 destinations in 11 countries, including Mexico City and Cancun in Mexico, Guatemala, San Salvador, and San José in Central America; Bogotá, Medellín, Cali, Barranquilla and Cartagena in Colombia, Quito and Guayaquil in Ecuador; and Aruba, Curacao, St. Marteen, and Jamaica in the Caribbean.

Eurodistribution is part of Euroairlines aviation group and has over 30 years of international aviation experience. The partnership will enable Arajet to develop markets, channels, and connectivity with other operators.

"We are excited to announce this alliance with Eurodistribution," said Víctor Pacheco, CEO and founder of Arajet. “This partnership will accelerate Arajet's awareness and growth around the world.”

Arajet tickets will be marketed through Eurodistribution in 60 international markets that account for more than 90% of global air travel demand in top Global Distribution Systems (GDS) Amadeus, Saber and Travelport, B2B platforms such as Travelfusion, HitchHiker and KIU, and direct integrations via API.

“Arajet has appreciated our value proposition for the execution of its commercial strategy, and we are prioritizing the development of the airline through our dedicated personnel to open markets or channels to propel its development and profitability worldwide,” said Antonio López Lázaro, CEO of Euroairlines Group.

48 graduates of airBaltic's Pilot Academy joined the Latvian airline in 2022

48 graduates of the Pilot Academy joined airBaltic in 2022

The Latvian airline airBaltic announces that 48 airBaltic Pilot Academy students have joined the company as First Officers after graduating in 2022. Overall, there are 67 active students for now, and four new study groups will be formed in 2023 – in February, May, September and November.

Martin Gauss, Chief Executive Officer of airBaltic: “The previous year has been rich for the Pilot Academy and I am delighted to see that it becomes more and more noticed and respected internationally. Specifically, this achievement of the recent graduates, who have joined airBaltic, absolutely highlights the Pilot Academy's quality of training and the students' dedication in pursuing their careers as commercial airline pilots. They will play a crucial role in the growth and success of our company, and we wish them all the best in their new positions.”

Altogether 48 airBaltic Pilot Academy graduates started their career at airBaltic in 2022. They represent such countries as Latvia (24), France (7), Germany (5), Lithuania (4), Spain (3), Finland (2), Estonia (1), Sweden (1) and the Netherlands (1). Six of the graduates, joining airBaltic, are female.

During previous 12 months, students have flown 4 202.3 hours, but the most time spent in the air was in March, August and September.

In total, 49 people began their studies in the Pilot Academy in 2022. However, there are 67 active students for now. Most of them are from the Baltics, while also other EU member states, such as Germany, France, Finland, Spain and Italy, are represented. More than 10% of students are female.

airBaltic says goodbye to its last Bombardier Q400........

airBaltic's last Bombardier Q400

The Latvian airline airBaltic said goodbye to its final Bombardier Q400 NextGen turboprop earlier this week when the company returned the aircraft to regional lessor Nordic Aviation Capital. 

The final airBaltic Q400 left the airline on 1st February and marks the move towards a single aircraft type airline, with now 39 Airbus A220-300s in its fleet. 

Martin Gauss, President and CEO of airBaltic: “The last redelivery flight marks an official end to our previous stage of development. Q400, definitely, was an excellent-performance aircraft, which at the time helped us to get where we are today – flying the most efficient and greenest fleet in Europe.”

“Although a smaller plane allows more flexibility occasionally, still a single-type fleet has significant advantages – both economic and technical (maintenance), and also in terms of sustainability and training. We are thankful to Bombardier for service; it was a journey that is recorded in our history. Now we are looking forward and are delighted, how Airbus A220-300 has transformed our airline, becoming one of the core and very valuable assets of the company,” Gauss added.

The first Bombardier Q400 NextGen aircraft joined airBaltic back in 2010. Over the years, 12 different Bombardier Q400 NextGen have carried more than 11 million passengers in total and have performed over 222 thousand flights all across the Europe.

Paris-Charles de Gaulle - Ottawa route starting in June for Air France

Air France continues to increase capacity to Canada, the airline's second-largest long-haul market in terms of available seat capacity.

New route between Paris-Charles de Gaulle and Ottawa, with 5 weekly non-stop flights on Airbus A330-200 as of June 27.

Resumption of the Paris-Charles de Gaulle – Quebec City service inaugurated in summer 2022, with 3 weekly non-stop flights on Boeing 787-9 effective May 2.

Increased frequencies to Montreal, Toronto and Vancouver, served year-round by Air France.

In summer 2023, Air France will operate up to 50 weekly flights to 5 destinations in Canada: Ottawa (new service in 2023), Quebec City (new service in 2022), Montreal, Toronto and Vancouver (destinations served year-round by Air France).

The service between Paris-Charles de Gaulle and Ottawa Macdonald-Cartier (YOW) will be inaugurated on June 27, 2023, and will be operated five times weekly – Mondays, Tuesdays, Thursdays, Saturdays and Sundays – on Air France's 224-seater Airbus A330-200 (36 in Business, 21 in Premium Economy, and 167 in Economy).

Flight schedules (local times):

AF328: Leaves Paris-Charles de Gaulle at 13:10, arrives in Ottawa at 15:05

AF327: Leaves Ottawa at 17:05, arrives at Paris-Charles de Gaulle the following day at 06:15

"We are proud to be the only airline flying non-stop from Ottawa to Europe," declared Jean-Eudes de La Bretèche, General Manager of Air France KLM Canada, "and are delighted about the new tourism, cultural and business opportunities this service between the two capitals will generate. This now brings to five the Canadian destinations Air France serves."

The Air France bus service currently available to customers free of charge between Montreal-Trudeau Airport and Ottawa will continue to offer two daily shuttles. The bus times are specifically scheduled to facilitate connections with Air France flights to and from Paris. Two daily bus services also link Montreal-Trudeau and Quebec City.

Ottawa, Canada's capital

The fourth largest city in Canada, Ottawa and the neighboring Gatineau area is home to the country's federal institutions.

John Holland-Kaye to leave London Heathrow Airport

After nine years the CEO of London's Heathrow Airport, John Holland-Kaye is stepping down, the airport confirmed today.  His last day at the helm of the UK's busiest airport has yet to be confirmed, but will be this year the board has said.

The Chair of Heathrow Airport, Lord Deighton said:  “John has been an extraordinary leader of Heathrow. During the past nine years, he has worked tirelessly and collaboratively with shareholders, Ministers, airlines and other stakeholders to ensure the country can be proud of its 'front door'. The Board would like to put on record our gratitude to John for his dedication and commitment to Heathrow throughout his tenure as CEO.”

The hunt for a replacement has now been started, but in order to ensure a smooth handover, John Holland-Kaye will remain as CEO until his successor starts in post.

In a statement, the airport's board said it 'would like to thank John for his exceptional leadership since 2014, building a strong management team, developing a consumer-focused culture, improving cost efficiency and putting Heathrow at the forefront of global aviation’s decarbonisation. The transformation of the airport during John’s time as CEO has been recognised as Heathrow won a number of significant awards including: Sunday Times top 30 employer; one of the top 10 airports in the world (voted by passengers); and edie’s Sustainable Business of the Year Award.

Three of the most significant successes of John’s tenure were the development of the plan for Heathrow expansion that secured overwhelming Parliamentary approval, successfully navigating the business through the COVID-19 crisis and the recovery in demand, and his leadership in putting aviation firmly on course for net zero by 2050.'

Frontier Airlines gets a brand new Airbus A321neo aircraft......

Aviation Capital Group has delivered a brand new Airbus A321neo aircraft on long-term lease to Frontier Airlines. This jet is powered by the ultra-efficient Pratt & Whitney GTF engines and is the first of seven A321neo aircraft scheduled to deliver to the airline from ACG’s order book with Airbus. Traditional to Frontier Airlines, this A321neo has a new special livery with “Ozzy the Orca” painted on the tail.

“We are delighted to deliver this new Airbus A321neo aircraft to Frontier Airlines, and we look forward to continuing to build on our strong relationship with the airline,” said Ross Campbell, Vice President of Marketing for ACG. “This aircraft will provide fuel efficiency, passenger comfort, and supports Frontier Airlines’ commitment to ensuring the sky is for everyone – offering a superior level of ultra-low-cost service.”

“We are pleased to expand our long and valued relationship with ACG through the delivery of this new A321neo,” said Robert Fanning, Vice President - Fleet, Frontier Airlines. “The highly fuel-efficient A321neo aircraft are helping to further our sustainability mission as America’s Greenest Airline as we continue to expand our fleet.”

Aviation Capital Group was founded in 1989 and is one of the world’s premier full-service aircraft asset managers with approximately 480 owned, managed and committed aircraft as of September 30, 2022, which are leased to approximately 90 airlines in approximately 45 countries. ACG is a wholly owned subsidiary of Tokyo Century Corporation.

SIA Rolls Out Complimentary Unlimited In-Flight Wi-Fi For All Business Class Customers And PPS Club Members

• All KrisFlyer members in Premium Economy Class and Economy Class now enjoy free three-hour and two-hour Wi-Fi surf plans respectively
• All-new attractive price-based Wi-Fi plans rolled out for all customers

Singapore Airlines (SIA) has rolled out complimentary unlimited in-flight Wi-Fi for all Business Class customers, as well as its PPS Club members and PPS Club supplementary card holders. In addition, KrisFlyer members now enjoy free three-hour Wi-Fi plans when travelling in Premium Economy Class and free two-hour Wi-Fi plans when travelling in Economy Class.

Customers who are not KrisFlyer members, and members who may have consumed their complimentary plans, may take advantage of SIA’s new attractive and simplified Wi-Fi price plans. These range from US$3.99 (approximately S$5.25) for one hour, US$8.99 (approximately S$11.80) for three hours, and US$15.99 (approximately S$21.00) for the entire flight1.

These enhancements further elevate the in-flight customer experience on board SIA flights, with the Airline’s Suites and First Class customers also enjoying complimentary unlimited Wi-Fi.

As a result, SIA becomes one of the first airlines to offer complimentary unlimited Wi-Fi across its passenger network2 for its Suites, First Class, and Business Class customers, as well as PPS Club members.

airBaltic to participate in the Balttour 2023 travel trade fair

The Latvian airline airBaltic announces participation in the most important tourism event in the Baltics – Balttour 2023 international travel trade fair. It will take place on February 3–5 in Riga (Ķīpsala International Exhibition Centre), and airBaltic invites everyone to get acquainted with the company’s diverse offer – new destinations and their representatives, beneficial airBaltic Club loyalty program offers, including the globally spotted NFT collectables Planies, as well as to participate in contact exchange, various presentations and discussions.

Martin Gauss, President and CEO of airBaltic: “We are delighted that after a two-year-pause, caused by the pandemic, the long-awaited tourism exhibition is approaching, and airBaltic will be a significant part of it. The airline is continuously developing its network and flight routes every year, announcing new and exciting destinations. This year we will provide the historically largest range of destinations in 27 years of the company’s existence, offering flights on 18 new routes, including 10 from Riga.”

Freightify secures $12M funding round to power digital transformation for freight forwarders globally

Freightify is providing freight forwarders enhanced capabilities to procure, manage and quote Freight prices instantly. Customer numbers and revenues tripled in the last 12 months as it seeks to strengthen product, sales and marketing. 

Denmark and Singapore - 2nd February 2023; Global freight forwarding is a $300B industry that facilitates the movement of cargo from one place to another through a series of manual and legacy processes. Freightify’s freight rate management platform is solving the complex challenges facing freight forwarders and helping them to do more business faster at lower costs. Today, Freightify is announcing a $12M debt & equity Series A funding round to help power digital transformation of Freight forwarders through Freightify’s suite of products. 

Freightify empowers freight forwarders by providing rate automation solutions to digitize their rate procurement, rate management and quotation processes with ease. The platform allows any forwarder to create a digital storefront to serve their customers better. In addition to this, it includes track and trace solutions that help freight forwarders in getting the live location of vessels and automated milestones within seconds. Freightify’s platform allows freight forwarders to procure, manage and quote freight prices (including all possible ancillary charges) in less than 2 minutes.