04 May, 2023
International health insurers Globality Health and ERGO-Bezirksdirektion Haus complement BARIG Business Partner Network
Air Travel growth continues in March
Asia-Pacific airlines had a 283.1% increase in March 2023 traffic compared to March 2022, continuing the robust momentum since the lifting of travel restrictions in the region. Capacity rose 161.5% and the load factor increased 26.8 percentage points to 84.5%, the second highest among the regions.European carriers posted a 38.5% traffic rise versus March 2022. Capacity climbed 27.0%, and load factor rose 6.6 percentage points to 79.4%, which was the second lowest among the regions.Middle Eastern airlines saw a 43.1% traffic increase compared to March a year ago. Capacity climbed 30.5% and load factor pushed up 7.0 percentage points to 79.4%.North American carriers’ traffic climbed 51.6% in March 2023 versus the 2022 period. Capacity increased 34.0%, and load factor rose 9.8 percentage points to 84.8%, the highest among the regions.Latin American airlines had a 36.5% traffic increase compared to the same month in 2022. March capacity climbed 33.4% and load factor rose 1.9 percentage points to 82.8%.African airlines’ traffic rose 71.7% in March 2023 versus a year ago, the second highest among the regions. March capacity was up 56.2% and load factor climbed 6.5 percentage points to 72.2%, lowest among the regions.
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1% of industry RPKs in 2022 2year-on-year change in load factor 3Load Factor Level |
33 years ago, the 4th of May became a significant and special day in the history of Latvia. Happy independence day.
Annual Safety Review 2022 released from UK's : Air Accidents Investigation Branch - AAIB
The AAIB Annual Safety Review 2022 has been published. It includes information on occurrences and the safety action taken or planned in response to AAIB investigations concluded in 2022.
The Air Accidents Investigation Branch has published its Annual Safety Review which includes information on occurrences and the safety action taken or planned in response to AAIB investigations concluded in 2022.
East Midlands Airport receives a Disability Smart Award
Airbus reports First Quarter (Q1) 2023 results
127 commercial aircraft delivered in Q1 2023
Revenues € 11.8 billion; EBIT Adjusted € 0.8 billion
EBIT (reported) € 0.4 billion; EPS (reported) € 0.59
Free cash flow before M&A and customer financing € -0.9 billion
Airbus reported consolidated financial results for its First Quarter (Q1) ending 31 March 2023.
Air Cargo drops during March advises IATA
Global demand, measured in cargo tonne-kilometres (CTKs*), fell 7.7% compared to March 2022 (-8.1% for international operations). This was a slight improvement over the previous February’s performance (-9.4%) and half the rate of annual decline seen in January and December (-16.8% and -15.6% respectively). At this point, it is unclear if this is a potentially modest start of an improvement trend or the upside of market volatility. Irrespective of this, March performance slipped back into negative territory compared to pre-COVID levels (-8.1%).
Capacity (measured in available cargo tonne-kilometres, ACTK) was up 9.9% compared to March 2022. The strong uptick in ACTKs reflects the addition of belly capacity as the passenger side of the business continues to recover.
Several factors in the operating environment should be noted
“Air cargo had a volatile first quarter. In March, overall demand slipped back below pre-COVID-19 levels and most of the indicators for the fundamental drivers of air cargo demand are weak or weakening. While the trading environment is tough, there is some good news. Airlines are getting help in managing through the volatility with yields that have remained high and fuel prices that have moderated from exceptionally high levels. Looking ahead, with inflation reducing in G7 countries policy makers are expected to ease economic cooling measures and that would stimulate demand,” said Willie Walsh, IATA’s Director General.Even with record low unemployment rates, the global economy continues to decelerate due to a combination of factors such as tightening global financial conditions, high levels of global debt, and supply chain problems including those linked to the war in Ukraine.
In line with the weakening global trade, the Purchasing Manager Indices (PMIs) for new export orders at the global level remained below the 50-critical line for a full year as of March. China’s PMI retreated to below the 50-mark in March, following a slight improvement observed in February.
The PMI for supplier delivery times indicates high inventory levels, which tends to have a negative impact on air cargo.
Global goods trade decreased by 2.6% in February; this was a faster rate of decline than the previous month of -1.0%.
March Regional Performance
Allegiant reports its Income before tax in the first quarter was $74.4 million
First Quarter 2023 Results
- Income before income tax of
$74.4 million , yielding a pre-tax margin of 11.5 percent - Airline-only income before income tax(1) of
$78.9 million , yielding a pre-tax margin of 12.1 percent - Operating income of
$94.8 million , yielding an operating margin of 14.6 percent - Airline-only operating income(1) of
$97.6 million , yielding an airline-only operating margin of 15.0 percent - Consolidated EBITDA(1) of
$149.5 million , yielding an EBITDA margin of 23.0 percent - Airline-only EBITDA(1) of
$152.2 million , a 23.4 percent margin - Total operating revenue was
$649.7 million , up 29.9 percent over prior year - Total fixed fee contracts revenue of
$14.1 million , the highest first-quarter total in company history - TRASM of
13.89 cents , up 28.8 percent year-over-year - Load factor of 85.8 percent, a 6.9 point improvement year-over-year, among the highest in the industry
- Total average fare of
$154.12 , up 17.5 percent year-over-year, the highest quarterly average fare in company history - Total average ancillary fare of
$75.19 , up 10.7 percent as compared to 2022 driven by overall strength in core products and promising early results related to the Allegiant Extra rollout - Acquired over 46 thousand new Allways rewards credit card holders during the quarter, the highest quarterly acquisition in program history
- Received
$28 million in remuneration during the quarter - Airline-only Operating CASM, excluding fuel, of
7.75 cents , up 9.8 percent year-over-year - Allegiant recently named to the Forbes' America's Best Midsize Employers for 2023, Newsweek's America's Greatest Workplaces for Diversity 2023, and Fortune's America's Most Innovative Companies 2023 lists
(1) | Denotes a non-GAAP financial measure. Refer to the Non-GAAP Presentation section within this document for further information and for calculation of per share figures |
Balance Sheet, Cash and Liquidity
- Total available liquidity at
March 31, 2023 of$1.5 billion , which includes$1.1 billion in cash and investments, and$412.2 million in undrawn revolving credit facilities and PDP facilities - Repurchased 118 thousand shares during the first quarter at an average share price of
$100.33 $215.4 million in cash from operations during first quarter 2023, the highest first quarter in company history- Total debt at
March 31, 2023 was$2.1 billion - Net debt at
March 31, 2023 was$1.0 billion - Debt principal payments of
$51.5 million during the first quarter - Air traffic liability at
March 31, 2023 was$479.5 million
Airline Capital Expenditures
- First quarter capital expenditures of
$92 million , which includes$56 million for aircraft purchases and inductions, pre-delivery deposits, and other related costs, and$36 million in other airline capital expenditures - First quarter deferred heavy maintenance spend was
$15 million
- Total capital expenditures(1) as of
March 31, 2023 were$571 million - First quarter capital expenditures(1) were
$82 million - Previously recorded special charges were reduced by
$1.6 million for approved insurance net recoveries related to outstanding insurance claims atSunseeker Resort
Bombardier gets new credit rating from S&P
03 May, 2023
AeroVironment awarded $10 Million contract by NASA/JPL to co-design and develop two helicopters for Mars Sample return mission
Air Canada and Bell today announced a multi-year partnership that will make it even easier to stay connected.......
Bell to be Air Canada's premier sponsor of in-flight Wi-Fi services
Aeroplan members will benefit from free in-flight messaging
Bell and Air Canada to introduce additional benefits designed for newcomers and visitors to Canada
Airbus Perlan Mission II back in air to set world altitude record
Dominican Republic's Arajet launches 42 connections in 9 countries
WestJet starts service between Calgary and Tokyo
Canadian airline Westjet has launched flights between Calgary International Airport and Tokyo's Narita International Airport, which will operate three times a week on the airline's Dreamliner aircraft.