Wizz Air to offer new Barcelona- Tel Aviv route - flying four times a week with an Airbus A321 NEO aircraft seating 239 seats.
13 February, 2023
Wizz Air to offer new Barcelona- Tel Aviv route.
Vietnam Airlines And Singapore Airlines strengthen commercial cooperation
Vietnam Airlines And Singapore Airlines
strengthen commercial cooperation
Emirates launches humanitarian airbridge to help in Turkey and Syria earthquakes relief efforts
flynas celebrates opening of Doha office
Canada Jetlines announces another loan
The terms of the Loan include:The Loan will be advanced in a single tranche of $1,500,000 (“First Tranche”) following Neo Exchange Inc. approval;the Loan bears interest at the rate of 7.95% per annum and has a maturity date of 60 months from the date of advance;principal and interest amounts are payable in equal monthly installments for the term of the Loan plus an additional annual 10% principal repayment;no shares are issuable in connection with the Loan;the Lender is granted a Board nomination right to nominate an independent director for the term of the Loan;the Borrower shall pay the document closing costs of the Lender; andthe Loan is secured with a subordinate security interest against the Company’s credit card processor holdback funds.The Company intends to use the net proceeds of the Offering and the Loan for aircraft acquisition, general corporate and working capital purposes.
This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.
VINCI Airports key tothe groups positive results in 2022.
The VINCI group's overall performance was of a very high quality in 2022 the firm reported last week in the release of its latest results. The group had strong revenue and earnings growth came along with record free cash flow partly because the recovery in VINCI Airports’ passenger numbers accelerated throughout the year. In Portugal, Serbia and several countries in Latin America, they are now higher than they were in 2019. Combined with the impact of the cost-cutting measures adopted during the Covid-19 crisis, VINCI Airports thus posted substantial increases in profit and cash flow, both reaching high levels. In addition, the purchase of a controlling stake in Mexican airport operator OMA, which handled 23 million passengers in 2022, was completed at the end of the year.
One of the key highlights was the acquisition of OMA
On 7 December 2022, VINCI completed the purchase of a 29.99% stake in OMA (Grupo Aeroportuario del Centro Norte), which holds concessions for 13 airports in northern and central Mexico until 2048, from the Mexican investment firm FinTech Advisory for $1.17 billion. These airports together handled 23 million passengers in 2022, including one that serves the major industrial city of Monterrey and accounts for almost half of OMA’s passenger numbers. The company is fully consolidated in VINCI’s financial statements.
Cape Verde Airports
In July 2022, VINCI Airports and its Portuguese subsidiary ANA signed a forty-year concession contract to operate seven airports in the Cape Verde islands, which handled 2.8 million passengers in 2019. These airports’ operations will be transferred to the new concession company once the transaction has closed, which should take place in 2023.
12 February, 2023
Southwest Airlines hosts pup rally at Denver International Airport
11 February, 2023
ATR and Air New Zealand take partnership to next level to accelerate decarbonisation of aviation
Ryanair to offer 12 weekly flights from Exeter in summer.
– 3 routes (incl. 1 new) – Alicante, Faro & Malaga– 12 weekly flights– +67% growth on Summer 2022– 63K passengers to/from Exeter in FY24– Over 45 local jobs
Pratt & Whitney Canada and ATR combine efforts to achieve 100% sustainable aviation fuel readiness for PW127-powered ATR aircraft
Air Canada Cargo and Emirates SkyCargo sign deal to enhance networks and reach
PLAY carried 61,798 passengers in January
Frontier Airlines reported strong revenue performance in the fourth quarter.
Fourth Quarter 2022 Highlights
- Achieved total operating revenues of $906 million, 38 percent higher than the 2019 quarter on 15 percent higher capacity resulting in a 21 percent increase in revenue per available seat mile ("RASM") over the same period
- Generated record ancillary revenue of $82 per passenger, 41 percent higher than the 2019 quarter and five percent higher than the prior quarter
- Since exiting the pandemic, realized the lowest cost per available seat mile ("CASM") of 9.93 cents, CASM (excluding fuel), a non-GAAP measure, of 6.43 cents, and adjusted (non-GAAP) CASM (excluding fuel) of 6.40 cents
- Realized a pre-tax margin of 5.5 percent and an adjusted (non-GAAP) pre-tax margin of 5.7 percent
- Ended the quarter in a strong liquidity position with $761 million of unrestricted cash and cash equivalents, or $332 million net of total debt
- Took delivery of two A320neo and three A321neo aircraft during the fourth quarter, increasing the proportion of the fleet comprised of the more fuel-efficient A320neo family aircraft to 72 percent as of December 31, 2022, among the highest of all major U.S. carriers
- Generated 103 available seat miles ("ASM") per gallon, making Frontier the most fuel efficient of all major U.S. carriers and affirming its ongoing commitment to being "America's Greenest Airline"
- Expanded service in 16 domestic markets, including six new routes from Phoenix Sky Harbor International Airport to coincide with the November 2022 opening there of a crew base, and six international markets
- Announced new Dallas-Fort Worth crew base expected to open in May 2023 along with five new routes
- Launched GoWild All-You-Can-Fly Pass, providing passengers an opportunity for an unlimited number of flights to all Frontier domestic and international destinations
“Fourth quarter results were strong, underpinned by record ancillary revenue and meaningful improvements in CASM and utilization," commented Barry Biffle, President and CEO. “Moving into 2023, we intend to bolster our competitive edge by driving further improvement in ancillary revenue per passenger and unit costs. Today, our total cost advantage over the industry average is wider than it was in 2019, and I expect it will widen further this year. With these contributing factors, I'm confident we're on track to return the airline to the pre-pandemic profit levels per plane on a run-rate basis in the second half of 2023.
"I'm extraordinarily proud of Team Frontier for their tireless contributions in 2022 as we encountered repeated, uncontrollable operational challenges, including the recent winter storm Elliott. Our team overcame treacherous weather conditions, worked extended shifts and managed customer disruptions to get them to their destinations safely. I couldn't be more confident in Team Frontier and our future together as America's ultra-low-cost carrier."
Mesa's latest results
Mesa Air Group, Inc. this week reported first-quarter fiscal 2023 financial and operating results.
Fiscal First Quarter Update:
- Total operating revenues of $147.2 million
- Pre-tax loss of $10.0 million, net loss of $9.1 million or $(0.25) per diluted share
- Adjusted net loss1 of $4.3 million or $(0.12) per diluted share
- Adjusted net loss excludes a $3.7 million impairment related to intangible assets and $1.7 million related to investments in equity securities
- As previously reported, closed on United Airlines, American Airlines, and aircraft-related transactions
- Subsequent to quarter end, closed sale of 8 remaining CRJ-550s to United Airlines
Jonathan Ornstein, Chairman and CEO, said, “The first quarter was an important one for Mesa, as we executed several key agreements that will materially enhance our operational and financial position and alleviate significant issues that we have faced. While block hour production continued to be challenged by the industry-wide pilot shortage during the quarter, we believe all the pieces are in place to begin restoring capacity across our fleets. We are preparing for the transition of our CRJ-900 operation to United next month. Our pilot pipeline continues to strengthen and pilot attrition has remained significantly lower since we have enhanced our payscales and expanded our participation in the Aviate program with United.”
Fiscal First Quarter Details:
Total operating revenues in Q1 2023 were $147.2 million, a decrease of $0.6 million (0.4%) from $147.8 million for Q1 2022. Contract revenue decreased $8.4 million, or 6.2%. These decreases were driven by lower block hours, offset by increased block-hour revenue for new pilot payscales. Mesa’s Q1 2023 results include, per GAAP, the recognition of $5.3 million, versus the recognition of $4.2 million of previously deferred revenue in Q1 2022. The remaining deferred revenue balance of $18.8 million will be recognized as flights are completed over the remaining terms of the contracts.
Mesa’s Adjusted EBITDA1 for Q1 2023 was $21.8 million, compared to $17.0 million in Q1 2022, and Adjusted EBITDAR1 was $25.9 million for Q1 2023, compared to $26.6 million in Q1 2022.
Mesa’s Q1 2023 results reflect a net loss of $9.1 million, or $(0.25) per diluted share, compared to a net loss of $14.3 million, or $(0.40) per diluted share for Q1 2022. Mesa’s Q1 2023 adjusted net loss1 was $4.3 million, or $(0.12) per diluted share, versus an adjusted net loss1 of $9.3 million, or $(0.26) per diluted share, in Q1 2022. The year over year increase in adjusted net income of $5.0 million was primarily due to increased block-hour revenue for new pilot payscales and lower maintenance, D&A, and aircraft rent expenses, partially offset by higher expenses for flight operations due to increased costs for training and employee wages.
Operationally, the Company ran a controllable completion factor of 99.4% for American and 99.9% for United during Q1 2023. This is compared to a controllable completion factor of 97.7% for American and 98.3% for United during Q1 2022. This excludes cancellations due to weather and air traffic control.
With respect to a total completion factor that includes all cancellations, Mesa reported a total completion factor of 97.9% for American and 99.2% for United during Q1 2023. This is compared to a total completion factor of 95.8% for American and 95.8% for United during Q1 2022.
For Q1 2023, 50% of the Company’s total revenue was derived from our contracts with United, 45% from American, 3% from DHL, and 2% from leases of aircraft to a third party.
Comair sues Boeing for fraud over the 737 MAX jets
In 2010, Boeing was under pressure from its largest competitor, Airbus. This pressure led Boeing to take shortcuts, make misrepresentations and conceal information to bring the 737 MAX to market quickly.One of the 737 MAX's central flaws was its new engines. They were larger and could not easily fit under the 737 frame's low wings. To obtain adequate ground clearance, Boeing moved the engines up and forward.The new mount location caused the aircraft's nose to abnormally pitch up.Rather than make the necessary, but more costly, aerodynamic changes needed to prevent the pitch-up problem, Boeing tried to combat it with a new software called the Maneuvering Characteristics Augmentation System ("MCAS"), which automatically applied downward stabilizer trim.