Reliable Robotics opens new research, development and manufacturing centre in Silicon Valley

Reliable Robotics, a leader in safety-enhancing aviation technologies, celebrated the opening of a new engineering and development centre at its headquarters with Congresswoman Anna Eshoo, top local elected officials, and representatives from the National Aeronautics and Space Administration (NASA) and Federal Aviation Administration (FAA) last week. The expansion was marked with a ribbon-cutting ceremony and remarks from Congresswoman Eshoo, and California State Senator Josh Becker highlighting innovation in the region.

California Congresswoman Anna Eshoo participates in the unveiling

“Reliable Robotics is on a mission to make aviation safer with technologies like auto-landing and auto-takeoff systems. It’s exciting to get a glimpse of the transformational aviation safety technology being developed in the 16th district,” said Congresswoman Anna Eshoo. “In my two decades in Congress, I have promoted policies that foster innovation in Silicon Valley, and I am thrilled that Reliable Robotics is leveraging our talented workforce.”

Reliable Robotics is designing advanced autopilot systems with high-precision navigation that will enhance aviation safety by enabling all-weather auto-taxi, auto-takeoff and auto-landing, without new ground infrastructure. For the small towns and rural communities served by our nation’s more than 5,000 general aviation airports, only a fraction of which have airline service, these technologies will improve access and enable the delivery of time-critical shipments like medical supplies.

The team is manufacturing and testing high-performance actuators, flight computers and other components in-house. This technology is the backbone of a continuous engagement autopilot that will prevent loss of control in flight, controlled flight into terrain, fuel mismanagement and other causes of fatal aviation accidents.

AirAsia Philippines nears full restoration of international routes.... discount fares on offer

The budget carrier, AirAsia Philippines is expecting to close the first quarter of 2023 with most of its international destinations reinstated with the reopening of flights to Macau, Shenzhen, and Guangzhou. In addition to the now active Hong Kong, Osaka, Tokyo, Taipei, Bangkok, Kuala Lumpur and Seoul routes.

To make international travel more attainable, AirAsia is offering promotional one-way base fares from as low as  PHP 922 only from Manila to Tokyo, Osaka, Taipei, Kaohsiung, Seoul, Shenzhen, Guangzhou, Hong Kong, and Macao, for bookings beginning today until 26 February, for travels until 31 August 2023.

AirAsia Philippines Head of Communications and Public Affairs Steve Dailisan said, “Our international recovery is almost complete with the relaunching of the remaining China routes next month. It is also the perfect time to welcome spring in the most preferred tourist destinations among Filipinos such as Japan, South Korea, and Taiwan. We can’t wait to safely fly our guests from all over East Asia, and couple their trips with best-value deals.”     

AirAsia Philippines is also piggybacking on the high inbound and outbound traffic at the Cebu-Mactan International Airport (MCIA) which registered more than 500,000 international passenger traffic in 2022. 

Now servicing flights to Seoul, leisure travellers can also fly 4x a week from MCIA to the city of Taipei, Taiwan beginning 2 March 2023.  

Cathay Pacific Group to work with Vocational Training Council to nurture aviation talent in Hong Kong

Memorandum of Understanding (MoU) signed to support the development of the aviation industry and Hong Kong as an international hub

The Cathay Pacific Group has signed a Memorandum of Understanding (MoU) with the Vocational Training Council (VTC) of Hong Kong to jointly nurture a new generation of talent as the aviation industry’s growth picks up in the lead up to the completion of the Three-Runway System in Hong Kong.

The MoU Signing Ceremony was held at the Tsing Yi campus of the Hong Kong Institute of Vocational Education (IVE), a member institution of the VTC. Witnessed by Under Secretary for Transport and Logistics Liu Chun-san, Cathay Pacific Group Chief Executive Officer Ronald Lam and VTC Executive Director Donald Tong, the MoU was signed by Cathay Pacific Director People Patricia Hwang and VTC Deputy Executive Director Alaina Shum.

The Group’s participating companies include: Cathay Pacific, HK Express, Air Hong Kong, Cathay Pacific Services Limited – which operates the Cathay Pacific Cargo Terminal – Cathay Pacific Catering Services (H.K.) Limited, Hong Kong Airport Services Limited and Vogue Laundry Service Limited.

Liu Chun-san, Under Secretary for Transport and Logistics remarked that the pandemic has put the aviation industry on a bumpy flight over the past few years. But like planes flying out of an air turbulence, Hong Kong International Airport has been filling up again, and airlines have been flying to new destinations daily as the pandemic receded. Numerous exciting developments in our aviation scene have been also unfolding, including the Three-Runway System which would significantly increase our airport’s handling capacity.

Ethiopian adds Xiamen and Shenzhen to its cargo destinations in China

Ethiopian adds Xiamen and Shenzhen to its cargo destinations in China

Ethiopian Cargo & Logistics Services, Africa’s largest network operator, has started two weekly freighter flights  connecting Xiamen with São Paulo and Santiago via Addis Ababa. Ethiopian also plans to commence two weekly freighter flights between Shenzhen and Liège as of February 17, 2023. Ethiopian will deploy B777 Freighter on the new cargo routes.

Regarding the launch of the new flights, Ethiopian Airlines Group CEO Mr Mesfin Tasew said, “We are glad to expand our reach in China adding Xiamen and Shenzhen in our global freighter network. The new cargo flights will be instrumental in facilitating cargo shipments across the world by improving air connectivity among China, Africa, Europe and South America. 

As the largest cargo network operator in Africa and a key air cargo service provider globally, Ethiopian Airlines will continue expanding its services around the world by opening new routes and increasing flight frequencies so as to facilitate global trade and the flow of goods.” 

Ethiopian is launching these new flights as it marks the 50th anniversary of the start of its passenger service to China back in 1973. Xiamen and Shenzhen will join the vast Ethiopian network increasing its cargo destination in China to eight, including Guangzhou, Shanghai, Zhengzhou, Changsha, Wuhan and Chengdu. In addition to the cargo services, Ethiopian currently flies to four passenger destinations namely, Beijing, Chengdu, Guangzhou and Shanghai with its enhanced services and modern fleet.

As one of the leading global air cargo operators, Ethiopian Cargo and Logistics Services covers more than 130 international destinations around the world with both belly hold

capacity and 68 dedicated freighter services. Ethiopian Cargo and Logistics Services, one of the major strategic business units within the Ethiopian Airlines Group, has been winning global awards for its remarkable performance and service excellence.

Atlas Air and Turkish Airlines partner in delivering humanitarian and relief supplies for earthquake victims in Turkey and Syria.

Atlas Air worked with Turkish Airlines to send a Boeing 747-8F from Washington Dulles International Airport last week carrying tonnes of humanitarian and relief supplies for earthquake victims in Turkey and Syria. 

The two companies, along with the Turkish Embassy, are working together to expedite this relief mission to support the critical needs of thousands of people impacted by this natural disaster. Atlas Air is providing the aircraft and crew and Turkish Airlines is collecting clothes, shoes, medical supplies and other essentials. 

“Through our partnership with Turkish Airlines, we are honoured to contribute air freight capacity to deliver critical supplies to this region where they are needed the most,” said John Dietrich, President and Chief Executive Officer, of Atlas Air Worldwide. “We are moved by the heroic work of first responders and humanitarian organizations to provide relief to the communities impacted by this natural disaster.  On behalf of our 5,000 Atlas employees around the world, we are grateful for this opportunity to show our support.”  

Atlas Air Worldwide is a leading global provider of outsourced aircraft and aviation operating services. It is the parent company of Atlas Air.  The firm operates the world’s largest fleet of 747 freighter aircraft and provides customers with the broadest array of Boeing 747, 777, 767 and 737 aircraft for domestic, regional and international cargo and passenger operations.

Hawaiian Airlines Streamlines Honolulu Travel Experience with New Security Checkpoint

Thousands of Hawaiian Airlines guests departing from Honolulu each day will now enjoy a more efficient and convenient airport experience thanks to the carrier’s investment in a new multimillion-dollar TSA security checkpoint. The facility, which opens tomorrow in Hawaiian’s lobby 3 at the Daniel K. Inouye International Airport (HNL), adds 1,000 square feet for passenger queuing and 3,000 square feet of screening area.

“This expanded screening capacity will alleviate congestion and make check-in easier for our guests whether they are taking a short trip to another island or boarding a transpacific flight,” Hawaiian Airlines President and CEO Peter Ingram said during a blessing ceremony for the new facility today. “We appreciate the support of our partners including the State of Hawai‘i Department of Transportation and the TSA to help us create a better travel experience for our guests.”

“A big congratulations and mahalo to Hawaiian Airlines on this significant investment into the Daniel K. Inouye International Airport,” said Hawai‘i Department of Transportation Director Ed Sniffen. “Everyone will benefit, from those who fly often for work and medical services, to those who fly casually to relax and reconnect.”

The 2023 Top 25 Historic Hotels Worldwide Afternoon Tea Experiences List Is Announced

Historic Hotels Worldwide, a collection of more than 300 authentic historic hotels in over 46 countries, is pleased to announce The 2023 Top 25 Historic Hotels Worldwide Afternoon Tea Experiences List. 

The hotels selected for recognition in this semi-annual list offer heritage travellers and cultural experience seekers a chance to immerse themselves in a tradition from Victorian Britain that is being preserved and revived around the world: afternoon tea. While the custom of tea ceremonies dates back millennia around the world, the tradition of afternoon tea—a light meal served mid-afternoon with tea or sparkling wine—is traced to the English aristocrat Anna Russell, the 7th Duchess of Bedford and Queen Victoria’s Lady of the Bedchamber. Her household served dinner fashionably late, at or after 8 p.m., but the duchess did not want to wait so long between luncheon and supper. Being regularly hungry at 3 or 4 p.m., she instituted a new meal in the early 1840s. 

The influential Duchess of Bedford became a trendsetter when her “afternoon tea” became popular among women of means in the British hegemony during the late-19th and early-20th centuries, a time when social and cultural mores were rapidly changing for these women. The pursuit of activities away from one’s home became socially acceptable, even fashionable, and afternoon tea was a hit. Many of the historic hotels selected for the list are in the British Isles–the United Kingdom and Ireland–but other historic destinations with afternoon tea experiences can be discovered in China, Portugal, Singapore, Myanmar, and the Netherlands. These regions all played a vital role in the global history of tea, and many of the hotels selected make the history of tea and tea rituals part of the cultural experience they offer visitors. A perfect fit with hotels, the tradition of afternoon tea symbolizes hospitality, tradition, indulgence, sustenance, and friendship. Several of the afternoon teas selected for this list serve guests tea with a twist, offering literature, augmented reality, art, and dancing. The 25 hotels selected offer visitors opportunities to discover the history of tea, indulge in afternoon tea, and experience its romance within meticulously restored historic settings that include elegant castles, refined manor homes, and luxury hotels.

Air Canada reports its fourth quarter and full year 2022 financial results

Record fourth quarter passenger revenues of $4.062 billion, doubled than fourth quarter 2021 and about two per cent higher than fourth quarter 2019

Record fourth quarter operating revenues of $4.680 billion, 71 per cent higher than fourth quarter 2021 and about six per cent higher than fourth quarter 2019

Operating losses of $28 million in the fourth quarter of 2022 and of $187 million for the full year 2022

Adjusted EBITDA* of $389 million in the fourth quarter of 2022 and of $1.457 billion for the full year 2022

Adjusted EBITDA margin* of 8.3 per cent for the fourth quarter of 2022 and of 8.8 per cent for the full year 2022

Total liquidity of over $9.8 billion at December 31, 2022

Air Canada has just released details of its fourth-quarter and full-year 2022 financial results.  The company 'sPresident and Chief Executive Officer Michael Rousseau sid: "We are pleased with our fourth quarter and full year 2022 financial results. We reported record fourth-quarter passenger and operating revenues, surpassing our results from a year ago and those of the fourth quarter of 2019. This was due to solid demand and yield environments across our network. This progress was also a result of the dedication and hard work of our employees who safely transported more than two million customers during a holiday period challenged by severe winter weather across North America, and to our entire team who successfully executed on our strategy. I warmly thank them," 

(*Adjusted CASM, adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss), adjusted pre-tax income (loss), free cash flow, leverage ratio, net debt, and return on invested capital referred to in this news release, are non-GAAP financial measures, capital management measures, non-GAAP ratios or supplementary financial measures. Such measures are not recognized measures for financial statement presentation under GAAP, do not have standardized meanings, may not be comparable to similar measures presented by other entities and should not be considered a substitute for or superior to GAAP results. Refer to the "Non-GAAP Financial Measures" section of this news release for descriptions of these measures, and for a reconciliation of Air Canada non-GAAP measures used in this news release to the most comparable GAAP financial measure.)

"Our performance is attributable to the deep resilience we have built into our company for long-term stability. We reported positive cash flows from operations in the fourth quarter of $647 million and positive free cash flow of $320 million. We exercised diligent cost control. Our adjusted EBITDA of $389 million was $367 million better than a year ago. For the full year, we reported adjusted EBITDA of $1.457 billion and an adjusted EBITDA margin of 8.8 per cent, meeting our full-year 2022 guidance. We ended the year with total liquidity of more than $9.8 billion.

"These results also validate our strategy of diversifying our revenue sources. In our core passenger business, revenue was about two per cent higher than in the fourth quarter of 2019. Revenue from our premium cabins was about 13 per cent higher, supported in part by Aeroplan. The loyalty program's active membership is at an all-time high and continues to grow, and Air Canada Cargo revenue was up 55 per cent compared to the same quarter pre-pandemic. Similarly, Air Canada Vacations ground package revenues contributed to the growth in other revenues of $62 million, or 23 per cent higher than the fourth quarter of 2019," said Mr. Rousseau.

"We are very encouraged with the positive outlook ahead. Our quarterly ticket sales were 102 per cent of the fourth quarter of 2019, on a lower level of capacity, and we expect a solid demand environment in 2023. In anticipation, we are building out our global network, continuing our narrow-body fleet renewal, and investing in technology and customer service. More than 36 million people chose to fly with Air Canada last year. We appreciate and thank them for their loyalty. We intend to do much more to provide them with an elevated level of customer service and continuous value from our airline in 2023 and beyond."

Air Lease Corporation Announces Fourth Quarter & Fiscal Year 2022 Results

Air Lease Corporation has released its financial results for the three months and year ended December 31, 2022.

“Aircraft demand is bolstering lease rates, accelerating our orderbook placements, and intensifying lease extension requests. Airline industry recovery with constrained balance sheets, drive for environmental sustainability, and lack of available delivery slots from the OEMs continues to favor ALC’s business model of providing new aircraft from our orderbook,” said John L. Plueger, Chief Executive Officer and President.

“High quality commercial aircraft are increasingly in limited supply given strong airline need for capacity – exacerbated by ongoing delivery delays at both Boeing and Airbus, which we do not see abating. We expect to see continued growth and strength in global air traffic and airline yields in 2023, offering a counterbalance to global macroeconomic cross-currents,” said Steven F. Udvar-Házy, Executive Chairman of the Board.

Textron Aviation Special Missions Beechcraft King Air 260 chosen as new U.S. Navy Multi-Engine Training System (METS)

Textron Aviation has confirmed it has been awarded the Multi-Engine Training System (METS) contract by Naval Air Systems Command (NAVAIR) through a full and open competition.

The contract award is for up to 64 King Air 260 aircraft, which will be known as the T-54A. The initial Lot I award will procure 10 new Beechcraft King Air 260 commercial aircraft and associated support. Lot II and Lot III, if the options are exercised, would each procure up to 27 aircraft. Aircraft deliveries are planned from 2024 to 2026.

The Beechcraft King Air 260 aircraft acquired under the METS contract will replace the Chief of Naval Air Training (CNATRA) fleet of T-44C Pegasus aircraft. The T-44C Pegasus aircraft is a variant of the twin-engine and pressurized Beechcraft King Air 90. The T-44 has been in service since 1977.

“We are honoured the U.S. Navy has again selected the Beechcraft King Air to fulfil its training needs,” said Bob Gibbs, vice president, of Special Missions Sales for Textron Aviation. “METS will modernize multi-engine aircraft training at CNATRA, providing an intermediate and advanced training platform for U.S. Navy, U.S. Marine Corps and U.S. Coast Guard aviators into the P-8, EP-3, KC-130, E-6, E-2, CMV-22, CV-22 and MV-22 aircraft.”

METS-specific capabilities include factory options for TACAN (Air to Air), angle of attack (AOA), V/UHF radio, digital audio system, engine trend monitoring, condition-based maintenance plus, observer/jump seat, passenger mission seats, and full-face oxygen masks.

“With its advanced technology, the new METS platform will be more representative of fleet aircraft,” said Capt. Holly Shoger, Naval Undergraduate Flight Training Systems Program Office (PMA-273) program manager. “The T-54A will include an updated avionics suite, automation qualities, and virtual reality and augmented reality devices to better prepare students for the advanced aircraft they will fly in the fleet.”

Finnair releases its annual report......

The Helsinki-based national carrier of Finland - Finnair has released its annual report for 2022 which tells how the airline's total revenue increased year-on-year as the COVID-19 impact was more significant in the comparison period. Unit revenue (RASK) increased by 8.6 per cent and amounted to 7.53 cents (6.93). The RASK increase was caused by the higher passenger yields and improved passenger load factor despite the higher number of cargo-only flights in the comparison period, as these flights do not generate any ASKs and, thus, have a positive RASK impact.

Passenger traffic 

Even though the passenger traffic figures continued to improve year-on-year, the negative impact of the COVID-19 pandemic and related travel restrictions was still clearly visible in the 2022 figures and especially in H1. Further, the Russian airspace closure had a negative impact on the figures in 2022. Passenger revenue increased by 306.5 per cent and traffic capacity, measured in Available Seat Kilometres (ASK), increased by 158.8 per cent overall against the comparison period. 

The number of passengers increased by 218.9 per cent to 9,095,800 passengers. Traffic measured in Revenue Passenger Kilometres (RPK) increased by 308.6 per cent and the passenger load factor (PLF) increased by 24.8 percentage points to 67.6 per cent. The distance-based reported traffic figures do not take into account longer routings caused by the airspace closure as they are based on the Great-Circle distance.

In Asian traffic, the number of scheduled passenger flights remained limited because of the pandemic impacts. Moreover, Finnair cancelled multiple flights to and from Asia in March following the Russian airspace closure even though it was able to continue operating most of the routes by using longer routings. The number of scheduled passenger flights was nevertheless clearly more than in the comparison period as in Q4 2021 travel opened to e.g., Thailand, Singapore and India, and as Finnair commenced flights from Sweden to Thailand which were, however, discontinued at the end of October 2022. Therefore, ASKs grew by 100.6 per cent and RPKs by as much as 484.1 per cent. PLF increased by 41.0 percentage points to 62.4 per cent. As PLF was still weak and capacity clearly lower than pre-pandemic, it resulted in low passenger revenue compared to 2019. Revenue overall was, however, supported by the strong cargo operations. 

One man’s passion inspires the power of flight for local school kids

One man’s passion inspires the power of flight for local school kids

Jaime Gates remembers the moment he knew he wanted to become a pilot. It was a summer trip in 1997, 12-year-old Jaime and his Boy Scouts of America troop got to tour New York’s LaGuardia Airport. The up-close perspective of the aircraft made an ever-lasting impression on him.

“As soon as I went up to the air traffic control tower and watched the planes land and take off — I was hooked,” he said. Today, Jaime works with 12-year-old (and younger) students in his free time to help them realize their dreams of working in the aviation industry.

He strives to inspire young people in his hometown of Brooklyn, New York, to soar to new heights by sharing his passion for aviation because he knows how access is the key to igniting the spark that can shape their futures.

Jaime pursued his passion for flying after he graduated college in Charlotte, North Carolina, continuing his journey into aviation at Embry-Riddle Aeronautical University in Daytona Beach, Florida. When the recession hit in 2008, Jaime knew he had to put his aspirations of becoming a pilot on hold to meet his financial needs. He decided to pursue a career in computer science for more immediate stability and joined American as a Customer Service Manager in 2011, giving him the opportunity to work in the industry he loves.

“I knew I wanted to be a pilot very early on, but there weren’t many resources for me at the time,” Jaime said. “I had no idea what path to take, and I didn’t have a mentor to guide me on my journey … that along with creating more financial stability is why I had to set my dreams aside.”

Jaime’s mother, Dr. Lena Gates, has been the principal of the Ronald E. McNair Public School 5 in Brooklyn for more than 30 years. She was inspired to start an aviation program at her elementary school as she watched Jaime’s love for aviation grow.

Jaime recalled sitting down with his mom and thinking through the barriers he faced in embarking on his own pilot career, wondering how they could better support students’ journeys into aviation and what hurdles they could help flatten?

They started with access. If you can see yourself there, you can be there. “We begin to dream as early as elementary school,” Jaime said. “So, if we provide the seed at the early stages of students’ liv es, they may plant their roots and grow a career in aviation.”

At a management meeting in April 2022, Jaime and his fellow team members were called on by American Airlines leadership to be intentional and impactful by reaching out to underrepresented communities to search for its next generation of aviators.

“That’s when the light bulb went off for me. I boldly asked if American would be open to supporting the aviation program at my mother’s school,” Jaime said. “Everyone was on board and wanted to get started immediately — and I was absolutely thrilled.”

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In October 2022, the American Airlines Aviation Recruiting team and New York Flight office partnered with the Ronald E. McNair Public School 5 to rebrand the school’s aviation center. American is helping the school expose its students to the power of flight at an early age and encouraging them to dream big.

Corporación América Airports S.A. Reports January 2023 Passenger Traffic

Total passenger traffic up 42.7% YoY reaching 90% of pre-pandemic levels;

Armenia and Ecuador above January 2019 levels, while Argentina and Brazil at 93% and 85%, respectively

Corporación América Airports a leading private airport operator in the world, reported today a 42.7% YoY increase in passenger traffic in January 2023, reaching 89.9% of January 2019 levels.

Passenger Traffic Overview

Total passenger traffic grew 42.7% compared to the same month of 2022, supported by an ongoing recovery in travel demand after the Covid-19 pandemic, as reflected by higher load factors and the gradual resumption of routes and frequencies across all countries of operations. Overall passenger traffic reached 89.9% of January 2019 levels, up from the 87.2% posted in December, with international and domestic passenger traffic reaching 89.8% and 90.8% of January 2019 levels, respectively.

In Argentina, total passenger traffic continued to recover increasing 57.7% YoY and reaching 93.0% of January 2019 levels, up from the 92.1% posted in December. International passenger traffic reached 77.7% of pre-pandemic levels, down from the 82.7% recorded in December 2022, mainly as a result of a tough comparison due to a particularly strong January 2019. Domestic passenger traffic surpassed –for the first time– pre-pandemic levels, by 2.1%.

In Italy, passenger traffic grew 121.7% versus the same month of 2022, when traffic was heavily impacted by the Omicron variant. When compared to pre-pandemic levels, total traffic stood at 91.9% of January 2019, up from the 85.4% posted in December 2022, with international passenger traffic, which accounted for almost 75% of total traffic, reaching 92.6% of January 2019 levels.

In Brazil, total passenger traffic increased 4.3% YoY, and reached 85.3% of January 2019 levels, up from 84.3% recorded in December. Domestic traffic, which accounted for almost 60% of total traffic, improved to 86.0% of pre-pandemic levels whereas transit passengers reached 85.2% of January 2019 levels.

In Uruguay, total passenger traffic, which is largely international, increased 61.0% YoY and reached 74.4% of January 2019 levels, down from the 79.0% posted in December, partly impacted by a weaker-than-expected seasonal tourism, in Punta del Este.

In Ecuador, passenger traffic increased 48.8% YoY and surpassed pre-pandemic levels by 2.3%. International passenger traffic exceeded pre-pandemic levels by 9.3%, supported by routes to Europe, as well as the US and Panama, whereas domestic passenger traffic reached 96.6% of January 2019 pre-pandemic levels.

In Armenia, passenger traffic surpassed pre-pandemic levels for the ninth consecutive month, at 171.0% of January 2019 figures, improving from the 141.1% and 147.7% recorded in November and December, respectively. On a YoY basis, passenger traffic increased 69.8%.

Ameriflight signs intent to purchase agreement with sabrewing aircraft for 35 VTOL air cargo drones

Ameriflight, the US cargo airline, has signed a letter of intent to purchase 35 VTOL air cargo drones from Sabrewing Aircraft Company, Inc., a U.S. corporation designing and producing a new generation of regional cargo UAV that offers high-efficiency, all-weather operation with vertical landing and takeoff (VTOL) capabilities. The agreement is for the Rhaegal-A aircraft, also known as “Alpha”, the world’s best-in-class, highest fuel and maintenance efficiency cargo UAV on the market. Ameriflight expects to take delivery following type certification of the aircraft.

The Sabrewing partnership and Rhaegal-A purchase will enable Ameriflight to enter into new business opportunities in distribution center logistics. Using the VTOL capabilities to carry over a ton of cargo to off-airport alternative landing zones, the new cargo aircraft will allow Ameriflight to aid customers in developing a faster and more efficient warehouse distribution network. For Ameriflight, this will be a complementary service, not replacing their current flying operation, aircraft, or pilots. The company’s goal is to build diversified aviation services, and this fits well with that vision.

Norwegian reports an operating profit of NOK 1,502 million for 2022

Norwegian reports an operating profit (EBIT) of NOK 1,502 million for 2022

Norwegian has reported its results for the fourth quarter of 2022 and the preliminary full-year results for 2022. For the full-year of 2022, Norwegian delivered an operating profit (EBIT) of NOK 1,502 million. The airline limits losses before tax (EBT) to NOK 80 million in a quarter characterised by seasonally softer demand, demonstrating Norwegian's ability to adjust capacity and conserve liquidity when moving from the busy summer season and into the quieter winter trading period.

For the fourth quarter of 2022, the company delivered an operating loss of NOK 39 million. Profit before tax (EBT) amounted to negative NOK 80 million in the quarter. Continued liquidity discipline led the company to conclude the year with a cash position of NOK 7.8 billion. At year-end, the Norwegian fleet comprised of 70 aircraft.

"We now close a chapter on 2022, a year where our operations have performed well, in spite of sweeping industry challenges across European airports. For the full year, we delivered an operating profit (EBIT) of NOK 1,502 million despite record-high fuel prices and a strong US dollar," said Geir Karlsen, CEO of Norwegian.

In the fourth quarter of 2022, Norwegian had 4.6 million passengers, up from 3.1 million in the fourth quarter of 2021. Production (ASK) was 6.9 billion seat kilometres, while passenger traffic (RPK) was 5.7 billion seat kilometres. The load factor increased to 81.4 percent from 77.0 percent in the same period last year.

Most punctual Nordic airline