All Strategy news – Page 5
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NewsPegasus sees post-Covid travel boom ebbing after ‘strong’ second quarter
Pegasus has reinstated its strategic focus on boosting load factors and ancillary revenues as the post-Covid travel boom subsides in the second half of 2023.
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NewsJapan’s Skymark in the red despite record quarterly passenger traffic
Japanese carrier Skymark Airlines was loss-making in the first-quarter, despite seeing passenger volumes hit record highs amid strong domestic travel demand.
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NewsCanada Jetlines posts modest Q2 loss, needs ‘to raise additional capital’
North American start-up carrier Canada Jetlines lost C$940,000 ($698,000) during the second quarter as it continues expanding its scheduled and charter operations.
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NewsCargojet’s second-quarter results sag amid ‘difficult’ economic conditions
Canadian carrier Cargojet Airways’ second-quarter revenue declined 15% year-on-year as the freight hauler rode out “difficult” market conditions.
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NewsATSG delivers six converted freighters in past month
US lessor Air Transport Services Group (ATSG) recently delivered six converted cargo aircraft to customers in five countries amid a broad downturn in the global air freight market.
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NewsFAA extends New York-area flight reduction effort as its controller shortage continues
Ongoing air traffic controller shortages in New York have prompted the Federal Aviation Administration to extend for six weeks a programme intended to reduce flight disruptions at New York and Washington, DC-area airports.
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In depthAirline Business Covid-19 recovery tracker: August 2023 update
Our regular examination of the latest global data for several key airline market indicators, including traffic and capacity in passenger and cargo markets, in-service and stored fleets, jet fuel costs, and share price trends for the world’s largest groups.
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AnalysisAir cargo grapples with plummeting rates and freighter oversupply fears
The global air cargo market is heading for a potential “winter of discontent” amid rapidly falling rates, softening demand and rising capacity.
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NewsTourism recovery keeps Thai carriers in the black
Thailand’s two full-service operators, Thai Airways International and Bangkok Airways, remained profitable in the second-quarter earnings, helped by a rebound in tourism, especially following the reopening of China’s international borders.
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NewsPAL promises ‘major’ product, digital revamp as Q2 profits increase
Philippine Airlines (PAL) is to double down on improving its product offerings, as the carrier improved its quarterly profit on the back of continued demand recovery.
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NewsAir Canada rides wave of international travel to second quarter profit
Air Canada generated second-quarter revenue of C$5.4 billion ($4 billion), up 36% from C$3.9 billion during the same period a year ago, as international travel rebounded strongly from the Covid-19 pandemic.
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NewsTurkish Airlines lifts outlook after strong first half despite cargo decline
Strong demand in the passenger business during the first half has prompted Turkish Airlines to lift its full-year EBITDA expectations, despite a sharp fall in cargo revenues.
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NewsChina’s ‘Big Three’ still expected to be loss-making in 2023: HSBC report
China’s three largest airlines are expected to be in the red in 2023, despite improving recovery prospects and the likelihood of a small profit in the second-half of the year, a HSBC Global Research report notes.
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NewsCebu Pacific flags supply chain, weather woes amid second-quarter profit
Cebu Pacific remained in the black for a second consecutive quarter, though it has acknowledged the “significant operational headwinds” which has “tempered” its recovery and growth outlook.
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NewsBrazil’s Azul breaks Q2 revenue record; sees demand trends continuing
Brazil’s Azul had a record-breaking quarterly revenue of R$4.3 billion, up 8.8% against the R$3.9 billion it reported in the same quarter last year, and 63% over the same quarter in pre-pandemic 2019 as passenger demand, including corporate travel, continues to bounce back.
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NewsTurkish Airlines set for fleet decision ‘soon’ after engine complications
Turkish Airlines expects to announce its major order for 600 aircraft ”soon” after receiving revised proposals from the OEMs and studying options around engines following supply issues.
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NewsCopa Q2 profit is $17.5m as demand remains strong, fuel cost drops
Copa Airlines posted a second-quarter profit of $17.5 million as demand remained strong and costs fell, driven by fuel prices, which declined by about one-third.
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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.