All Strategy news – Page 22
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AnalysisRazor-thin airline industry profit projection for 2023 reflects complex web of factors
It is not for nothing that IATA director general Willie Walsh described the challenges faced by airlines going into 2023 as “complex”.
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News
Air New Zealand forecasts higher profits amid strong travel demand, fuel price decline
Air New Zealand has raised its half-year profit forecast, on the back of “continued” strong travel demand, as well as a steady decline in jet fuel prices, though it flagged several factors that could affect its profitability in the new year.
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MNG Airlines to list on New York stock exchange
Turkish freight specialist MNG Airlines is to list on the New York stock exchange next year after signing an agreement to go public through a business combination with Golden Falcon Acquisition.
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Porter revamps fares and tweaks onboard product ahead of E-Jet arrivals
Canadian carrier Porter Airways has rolled out new fare bundles and several other product updates, including available fresh meals – changes the company says make its economy class the industry’s best.
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Virgin chief prepped for ‘subdued’ 2023 but no sign yet of bookings impact
Virgin Atlantic chief executive Shai Weiss is braced for a ”subdued” year in 2023 given global economic headwinds and recession in the UK, though he notes the airline has not yet seen these challenges filter through to forward bookings.
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Shortage of airframe and engine spares ‘worse than I realised’: IATA chief
IATA director general Willie Walsh has warned that a shortage of airframe and engine spares could weigh on the airline industry’s recovery in 2023.
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IATA forecasts global airline industry will return to profit in 2023
The global airline industry is forecast to achieve a net profit of $4.7 billion in 2023 as the recovery from the Covid-19 crisis continues, according to IATA. That would mark the industry’s first positive result since the pandemic hit in 2020, with airlines on course for a loss of $6.9 ...
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Analysis
Airline consolidation comes to the fore in Asia-Pacific
While a consolidation of its various airline interests has been in the works for Tata Sons ever since it acquired Air India in January, confirmation this week of plans to merge Vistara into an enlarged grouping illustrates the scope of ambition for the revamped carrier.
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Analysis
How enlarged Air India sets up two-horse race in Indian market
The consolidation of Tata Group’s airline units stands to transform India’s airline sector, and ratchet up the pressure on smaller carriers.
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AirAsia Aviation sees ‘encouraging’ tailwinds as group returns to black
AirAsia Aviation Group expects further improvement in its performance in the near-term, helped by a continued upswing in travel demand, as the group’s carriers remained profitable for a second consecutive quarter.
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EasyJet chief sees consolidation through retrenchments not mergers
EasyJet chief executive Johan Lundgren believes consolidation in Europe is more likely to happen through legacy carrier retrenchments rather than merger and acquisition (M&A) activity, in part because of state support keeping failing carriers in operation.
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Analysis
Why Capital A is bringing AirAsia and AirAsia X together
An AirAsia consolidation with its medium-haul affiliate AirAsia X would bode well for both carriers – and is a long time coming – given that both companies are starting to overlap in operations.
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FAA faces heat for letting Republic and SkyWest dispatchers work remote
Some US lawmakers are scrutinising the Federal Aviation Administration’s decision to let two regional airlines continue a Covid-19-era practice of allowing dispatchers to work remotely.
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Atlas Air shareholders approve acquisition by Apollo Global Management
US air cargo company Atlas Air Worldwide came closer to going private on 29 November as shareholders voted to approve a pending acquisition by an investor group led by Apollo Global Management.
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EasyJet positions to meet summer restoration of capacity
UK budget carrier EasyJet is taking steps to ensure it and suppliers have sufficient labour to meet a further pick-up in demand, as it aims to return to pre-pandemic capacity levels next summer.
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Capital A to divest airline units to AirAsia X as part of restructuring plan
Capital A has outlined plans to dispose of its airline interests to AirAsia X after seeking an extension from the Malaysian stock market to submit “a holistic regularisation” plan.
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Singapore Airlines agrees deal on Vistara merger with Air India
Singapore Airlines is to take a 25% stake in an enlarged Air India group after agreeing a deal with partner Tata Sons under which it will merge joint-venture operation Vistara with the Indian carrier.
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Strong summer quarter helps EasyJet cut full-year losses
Despite remaining in the red, EasyJet is pointing to a record earnings performance in the quarter ended 30 September, which helped to wipe £1 billion ($1.2 billion) off its full-year losses.
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Cathay eyes new freighters, medium-haul aircraft
Cathay Pacific has confirmed it is in talks with airframers over potential orders for new medium-haul and cargo aircraft, as it continues to rebuild its operations after more than two years of depressed travel demand.
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UK competition watchdog ‘to consider’ revised Korean Air-Asiana merger plan
The UK’s Competition and Markets Authority (CMA) is considering approving a revised plan from Korean Air over its proposed acquisition of compatriot Asiana Airlines.
