All Strategy news – Page 5
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NewsMesa posts $47.6m second-quarter loss due to lower block hours and ‘captain crunch’
Mesa Air Group lost $47.6 million during its fiscal third quarter, with the airline’s block hours plummeting during its transition to flying its Bombardier CRJ-900s on behalf of United Airlines.
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NewsGlobalX reports $7.5m Q2 loss as aircraft delivery delays take toll
South Florida start-up carrier Global Crossing Airlines (GlobalX) reports a second-quarter loss of $7.5 million as aircraft delivery delays and long turnaround times for aircraft maintenance continue hindering the airline’s operations.
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In depthNebraska-based start-up airline Red Way plans to ‘crawl, walk, run’: CEO
Red Way is betting that its model will revitalise air service from Lincoln and prove itself worth replicating in other parts of the USA.
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NewsAir Baltic swings to first-half profit despite A220 engine woes
Air Baltic overcame the impact of around 25% of its own fleet being grounded during the second quarter to report a profitable first half of 2023.
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NewsTurkish Airlines profit growth run continues into second quarter
Turkish Airlines continued its strong post-pandemic profits run by lifting second quarter operating profits by 50%.
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News‘We are on the right track’: Cathay posts first half-year profit in three years
Cathay Pacific Group rebounded to profitability in its half-year financial results, amid a strong rebound in passenger traffic following the reopening of Hong Kong’s borders.
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NewsNew business-class carrier Bermudair tentatively approved to fly to USA
New regional carrier Bermudair on 7 August received tentative approval of its foreign air carrier permit from the US Department of Transportation (DOT), clearing it to fly to the USA.
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NewsPakistan earmarks struggling PIA for privatisation
Cash-strapped Pakistan has announced its intention to privatise flag carrier Pakistan International Airlines, as the country works to stabilise its economy.
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NewsTurkish Airlines and Thai Airways eye Istanbul joint-venture operations
Star Alliance partners Turkish Airlines and Thai Airways have signed a preliminary agreement to deepen their relationship through plans to establish a joint venture on routes through Istanbul.
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InterviewHow agile Air Serbia is finding a profitable growth path
When it comes to examples of airlines exiting the Covid-19 crisis as bigger, more confident operations, Air Serbia is a compelling case, even as it grapples with the capacity constraints that are being felt across the industry.
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NewsCanada’s Chorus Aviation posts C$20m profit for second quarter
Canada’s Chorus Aviation reported a profit of C$20.3 million ($dddd million) during the second quarter of 2023, boosted by aircraft leasing revenue, foreign exchange rates, parts sales, MRO activities and contract flying.
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NewsAvianca reports modest Q2 profit as it executes on post-restructuring business plan
Avianca posted a modest profit during the second quarter, benefiting from cost control, smooth operations and increased demand, rather than higher prices, the company says.
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NewsPhilippine Airlines appoints new finance chief
Philippine Airlines has appointed Anna Isabel Bengzon as its new chief financial officer.
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NewsSun Country Airlines achieves second-quarter profit of $20.6m
Sun Country Airlines reported a $20.6 million profit for the second quarter of 2023 as all three business segments – scheduled passenger service, charter and cargo – posted increases.
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AnalysisSpohr sees Lufthansa ready to leave operational buffer behind in 2024
Lufthansa will step up productivity and efficiency levels next year after a focus on stabilising operations this summer amid continued industry capacity challenges.
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NewsSpirit Airlines sees ‘softer’ summer demand; posts Q2 loss
Ultra low-cost carrier Spirit Airlines says summer travel demand was “softer than expected” as travellers chose more long-haul international destinations than domestic ones, while on-time performance suffered under air traffic challenges and instable summer weather.
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NewsletterUS pent-up demand shifts to long-haul at expense of domestic
A curious consequence of the Covid-19 recovery has become apparent during the current earnings season, as domestic-focused US carriers report a stronger-than-expected shift in pent-up demand towards international, long-haul flying.
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InterviewHow Flyadeal set early pace in Saudi growth story
While the arrival of new entrants is grabbing headlines this year as part of Saudi Arabia’s ambitious plans to create a new global aviation hub and triple passenger numbers by 2030, growth has been part of the story since day one for Flyadeal and its chief executive Con Korfiatis.
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NewsWizz Air swings to quarterly profit as ticket revenue soars
Central European budget carrier Wizz Air swung to operating and net profits during the April-June period, on record passenger numbers and high yields.
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NewsProfitable Lufthansa foresees ‘unabated’ demand across rest of 2023
Lufthansa Group’s adjusted EBIT surged above €1 billion ($1.1 billion) in the second quarter, buoyed by strong demand and high yields amid industry-wide supply constraints.