All Strategy news – Page 17
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NewsIAG reports Q1 operating profit as leisure demand gives it summer confidence
British Airways and Iberia parent IAG saw stronger-than-expected performances from all of its airlines in the first quarter of 2023, as buoyant leisure demand helped the European group to achieve a small operating profit during what is a seasonally weak three months.
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NewsIberia names temporary chief executive
Spanish airline Iberia has named Fernando Candela Perez as its new chairman and chief executive, effective from July through to the end of 2023, following Javier Sanchez-Prieto’s decision to step away from the business.
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NewsAir France-KLM narrows loss as revenues surge in first quarter
Air France-KLM posted an operating loss of €306 million ($338 million) for the first quarter on revenue 42% higher than the same stage of last year at €6.33 billion.
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NewsAustralian watchdog blocks Virgin Australia-Alliance partnership renewal
Australia’s competition watchdog has rejected an extension of a charter partnership between Virgin Australia and Alliance Aviation, following a six-month consultation period in which it found low support for a continued alliance.
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NewsAir Canada raises profit expectations for 2023
Air Canada has raised its earnings expectations for the full year as passenger demand remains strong and jet fuel prices fall.
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NewsletterQantas CEO succession a fitting outcome after Joyce’s diversity focus
It is Alan Joyce’s exit from Qantas that has perhaps brought the most high-profile evidence of his diversity and inclusion efforts, with the appointment of chief financial officer Vanessa Hudson as his successor.
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NewsAtlas CEO Dietrich retires; to be replaced by CCO Michael Steen
Atlas Air Worldwide Holdings has said chief commercial officer Michael Steen will succeed retiring CEO John Dietrich next month.
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NewsMexico plans to launch state-run airline with Mexicana assets
Mexico plans to launch a state-owned airline under the currently-defunct Mexicana de Aviacion brand later this year.
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NewsLATAM posts profitable quarter, as passenger revenue jumps
LATAM Airlines Group posted another profitable quarter, driven by a strong rise in passenger revenue, after emerging from bankruptcy protection late last year.
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NewsFrontier loses $13m in Q1, shifts strategy to peak travel periods
Frontier Airlines is tweaking its network strategy to focus more on peak periods for leisure travel and “reducing under-performing flying”.
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NewsTurkish Airlines continues post-pandemic profit run in first quarter
Turkish Airlines extended its post-pandemic run of net profits for a seventh consecutive quarter, despite the period being marred by the devastating earthquakes centred in Kahramanmaras.
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NewsAllegiant reports $56m Q1 profit on strong demand, ancillary revenue
Ultra low-cost carrier Allegiant Air’s leisure-oriented business is humming along smoothly and shows no sign of slowing.
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NewsThird of Swiss A220s grounded as Lufthansa boss lists supply constraints
One-third of Swiss’ Airbus A220 fleet is currently grounded amid supply-side challenges that will be a “major driver” of the industry in the coming years, according to Lufthansa Group chief executive Carsten Spohr.
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NewsRising costs eat into Korean Air Q1 profit
Korean Air posted slimmer profits in the first quarter of this year, as rising fuel and operational costs offset an increase in revenue on the back of travel demand recovery.
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NewsLufthansa predicts ‘summer travel boom’ after loss-making Q1
Lufthansa Group says it is on track to exceed its pre-Covid financial performance in the second quarter of the year, despite capacity still being significantly down on 2019 levels, amid strong post-Covid demand for travel.
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NewsIndia’s Go First suspends flights, blames P&W engine woes for insolvency protection filing
Indian low-cost carrier Go First has suspended flights for the next three days and reportedly filed for insolvency protection, laying the blame on “ever-increasing” failures of Pratt & Whitney engines, which it says have left half its Airbus A320neo fleet grounded.
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NewsJAL to operate dedicated freighters after 13-year hiatus
Japan Airlines will introduce dedicated freighters to its fleet for the first time in 13 years, as it seeks a “new business model” to capture “stable and growing demand”.
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NewsJAL swings back to profitability, on ‘steady path’ to growth
Japan Airlines returned to the black in its full-year financial results, buoyed by a strong showing in domestic travel demand and “steady progress” in international recovery.
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NewsProfitability imminent for China’s ‘Big Three’: HSBC
HSBC Global Research believes China’s three largest carriers could return to the black as early as the quarter ended 30 June, amid “robust travel demand” and rising airfares.
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AnalysisUnpacking Alan Joyce’s Qantas legacy
Alan Joyce will retire from Qantas in November after 15 years at the helm, and he departs with a mixed legacy, including standing up to worker unions, and seeing the airline through the coronavirus pandemic.