The Delta Sky Club network is deepening its Midwest ties on Tuesday with the opening of its Kansas City International Airport (MCI) lounge, the only carrier lounge at the recently transformed airport.
27 February, 2023
Delta Sky Club opens only airline lounge in newly transformed Kansas City airport
Air Serbia and Air China renew and expand their partnership
British Airways Holidays and Universal Orlando Resort have teamed up with ITV's Ant & Dec’s Saturday Night Takeaway.
Pilots from across Europe call on EU policymakers to reform Europe’s airspace now
25 February, 2023
Direct flights between Abidjan and New York John F. Kennedy Airport to restart from 29 May 2023 with Ethiopian Airlines
JetBlue Celebrates Groundbreaking of JFK’s New Terminal 6
Record breaking results from Luna Aviation
24 February, 2023
Leidos to upgrade security at London Luton Airport
"This is an exciting opportunity for our team, and we look forward to supporting these important initiatives at London Luton Airport," said Brad Buswell, Senior Vice President and Operations Manager at Leidos. "By focusing on end-to-end solutions versus individual systems, we will deliver a holistic security management solution, which can scale with the airport's future needs."
A year on from Ukraine War – Are European and Asian Airlines feeling the impact?
A year on from Ukraine War – Are European and Asian Airlines feeling the impact? Commentary from Bloomberg Intelligence's Conroy Gaynor.
Photo by Margarita Marushevska on Unsplash |
ATSG Reports Record 2022 Revenues
Air Transport Services Group, Inc. the leading provider of medium wide-body aircraft leasing, contracted air transportation, and related services, today reported consolidated financial results for the quarter and year ended December 31, 2022.
Fourth Quarter Results
- Revenues $533 million, up 11%
- GAAP EPS (basic) from Continuing Operations $0.58, down $0.02 on GAAP Pretax Earnings from Continuing Operations $61.2 million, up 1%
- Adjusted Pretax* Earnings $65 million, up 16%
- Adjusted EPS* $0.53, up $0.03
- Adjusted EBITDA* $163 million, up 5%
Full Year 2022 Results
- Revenues $2.0 billion, up 18%
- GAAP EPS (basic) from Continuing Operations $2.67, down $0.66 on GAAP Pretax Earnings from Continuing Operations $260 million, down 14%
- Adjusted Pretax Earnings* $263 million, up 51%
- Adjusted EPS* $2.28, up $0.67 or 42%
- Adjusted EBITDA* $641 million, up $100 million or 18%
- Operating Cash Flows $472 million and Adjusted Free Cash Flow* $285 million
Rich Corrado, president and chief executive officer of ATSG, said, "In 2022, our revenues and Adjusted EBITDA each grew 18%, with revenues reaching a record $2 billion, and Adjusted EBITDA increasing $100 million to $641 million. Our Adjusted Pretax Earnings also grew sharply, excluding 2021 benefits from pandemic related government grants for our passenger airline. At the same time, we invested nearly $600 million in our businesses which will allow us to take advantage of the continued attractive leasing market for midsize freighter aircraft. I expect those investments and the outstanding performance of our employees to drive even more robust growth and earnings in the years to come."
2022 Operating Highlights
- Six more dry leases of Boeing 767-300 freighters, plus one re-lease and four lease extensions of Boeing 767-200s. Two of the six newly converted 767-300 freighters leased last year are also being operated by ATSG’s airlines under Crew, Maintenance and Insurance (CMI) agreements.
- Seven more customer-provided 767 freighters were subleased to and operated by ATSG’s cargo airlines during 2022, totaling thirteen such aircraft in the fleet at the end of the year.
- Feedstock aircraft secured for the twenty freighters ATSG expects to lease in 2023.
- Completed a strong schedule of passenger airline missions for government customers, including the resumption of a full schedule of combi service worldwide for the Department of Defense.
- Executed a six-year extension and expansion of ATSG’s longstanding commercial relationship with DHL. The number of 767s our airline operates for DHL has more than doubled since the beginning of 2021.
MNG Airlines provides earthquake aid to Turkey and Syria
Greg Smith appointed independent Chairman of American Airlines Group Board of Directors
Norwegian Reward to be relaunched
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Two top leadership changes at Lufthansa
Two important leadership changes of commercial core functions at Lufthansa Group and Lufthansa Airlines: Heiko Reitz will be the new CCO of Lufthansa Airlines and Dr. Stefan Kreuzpaintner will now be responsible for network, alliance and partner management of Lufthansa Group.
Lufthansa Group receives top grades in renowned CDP climate ranking
- Lufthansa receives the scoring result "A-" and is thus placed in the highest-ranking band
- Top grades for emissions reduction and in five other rating categories
- Proof of the Lufthansa Group's ambitious CO2 reduction path