All articles by Graham Dunn – Page 12
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NewsSurging passenger revenue helps Turkish Airlines continue strong profit run
Turkish Airlines continued its strong profit run since the pandemic, as double-digit increases in passengers and revenue pushed it to a full-year 2023 operating profit of almost $2.9 billion.
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NewsVirgin Atlantic ‘on course’ for profit return in 2024 after narrowing full-year loss
Virgin Atlantic chief executive Shai Weiss sees the UK carrier returning to profit this year after narrowing its pre-tax loss before exceptional items to £139 million ($175 million) in 2023.
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NewsRyanair hits revised passenger target for 2023-24 financial year
Ryanair booked 183.7 million passengers in its financial year ending 31 March 2024, in line with guidance it revised downwards after delays last year in deliveries of Boeing 737 Max jets.
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NewsIcelandair firms expectations for improved profits in 2024
Icelandair expects its EBIT profit margin to increase to between 2-4% this year on revenues rising to $1.6 billion after firming its financial guidance for 2024.
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NewsAvion Express completes financial restructuring
Wet-lease specialist Avion Express has completed a corporate financial restructuring undertaken after the pandemic hit.
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NewsLufthansa seals labour deal with ground staff
Lufthansa has struck a new labour deal covering ground staff represented by German trade union Verdi, ending a deadlock which had resulted in disuption to the carrier’s services earlier this yer.
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NewsAcquisition targets ITA Airways and TAP Air Portugal flag improved results
European acquisition targets ITA Airways and TAP Air Portugal both flagged improved financial results for 2023, as the Italian carrier reached break-even a year earlier than budgeted and the Portuguese airline posted record profits.
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NewsKenya Airways posts first annual operating profit for seven years
Kenya Airways posted its first operating profit for seven years in 2023 off the back of increased passenger numbers, although heavy currency exchange impact kept it loss-making at an overall level.
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NewsEuropean regulator flags competition concerns over Lufthansa-ITA deal
European regulators cite some short-haul routes to central Europe, long-haul routes to North America and Japan and ITA Airways’ strong position at Milan Linate airport as key areas that could restrict competition if Lufthansa completes a deal to acquire a stake in the Italian carrier.
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NewsRegulator set to trim Heathrow charges after watchdog ruling
Regulators are proposing a small reduction in the landing fees that Heathrow Airport will be able to charge airlines in 2025 and 2026 after recommendations from the UK competition authority.
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NewsVirgin expands African reach with Kenya Airways codeshare pact
UK operator Virgin Atlantic Airways is to begin codesharing with SkyTeam partner Kenya Airways, a move re-establishing its presence in the London-Nairobi market.
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NewsChairman takes over as Play chief executive Jonsson departs
Chairman and shareholder Einar Orn Olafsson is to become chief executive of Icelandic low-cost carrier Play, replacing Birgir Jonsson in the role.
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Airline BusinessWhy Aegean Airlines is prioritising scheduled business in bid to ride out GTF disruption
Aegean Airlines aims to grow scheduled capacity by around 7% this year despite the pressure the Greek carrier faces on aircraft availability due to ongoing maintenance issues related to the Pratt & Whitney GTF engines that power its Airbus A320neo-family aircraft.
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NewsLufthansa braced for fresh strike disruption
German carrier Lufthansa and regional unit CityLine are braced for fresh strike disruption on 12 and 13 March, this time as cabin crew represented by the UFO union have called a stoppage.
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Airline BusinessAirlink takes stock after making its name in South African market
While regional carrier Airlink has long been an established player in the market, it has under founding chief executive Rodger Foster taken the chance created by rivals’ troubles in South Africa to expand into new markets in its own right
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Airline BusinessAsia key opportunity as Lufthansa aims to catch-up on capacity
Recovering Asia-Pacific markets will be a key part of Lufthansa Group plans for a 12% in capacity in 2024, even if ongoing supply chain challenges have prompted it to tone down its growth plans for the year.
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NewsEurowings posts landmark profit but remains work in progress: Spohr
German leisure carrier Eurowings turned round a protracted period of losses to post record profits in 2023, though Lufthansa Group chief executive Carsten Spohr still sees work needed to further improve its profitability.
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NewsSpohr still optimistic on ITA, but will look ‘rationally’ at cost of deal concessions
Lufthansa Group chief executive Carsten Spohr insists the carrier will make a rational decision over the cost of any concessions attached to approval for its planned acquisition ITA Airways, but is encouraged by the approach to global competition of the incoming European Commission.
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NewsLufthansa posts €2.7bn full-year operating profit and expects similar in 2024
Lufthansa Group expects continued strong demand and double-digit capacity growth this year to help it match the €2.7 billion ($2.9 billion) operating profit it posted for 2023.
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NewsEtihad lifts full-year profit after jump in passenger business
Gulf carrier Etihad Airways increased operating profits to $394 million in 2023 after revenues climbed 11% driven by a sharp jump in passenger numbers.