All articles by Graham Dunn – Page 19
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News
Strong yields drive Pegasus to profits high in 2022
Turkish carrier Pegasus Airlines jumped back to the black last year in posting a record operating profit of €633 million ($674 million) driven by a more than doubling in revenues.
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Portugal dismisses TAP chief and chairman
Portugal’s finance minister has dismissed TAP Portugal’s chairperson Manuel Beja and chief executive Christine Ourmieres-Widener following a report into a controversial severance payment to a former TAP administrator.
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Lufthansa take cautious view on capacity as constraints remain
Lufthansa Group continues to be wary of growth constraints from wider supply chain challenges this year as it expects capacity to climb to between 85-90% of pre-pandemic levels.
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News
Lufthansa highlights southern hub role as ITA talks continue
Lufthansa Group chief executive Carsten Spohr sees the Rome Fiumicino hub of acquisition target ITA Airways as better positioning it to serve southern hemisphere markets as talks on a deal continue.
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Talks under way over possible partial sale of Lufthansa Technik
Lufthansa has begun talks with potential investors over the possible partial sale of Lufthansa Technik, though the MRO unit will remain a key part of the airline group.
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News
Lufthansa confirms strong rebound to profit in 2022
Lufthansa Group is projecting a “further significant improvement” in profit this year after confirming its return to the black in 2022 with an adjusted EBIT of €1.5 billion ($1.6 billion).
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Turkish Airlines preparing but in no rush to spin out Anadolu Jet
Turkish Airlines is continuing work on establishing its low-cost unit Anadolu Jet as a standalone operation, though has set no firm plans on a possible IPO for the carrier.
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News
Aircraft delivery issues ‘no significant bottleneck’ for 2023 plan: Turkish Airlines
Turkish Airlines believes it is well-placed to ride out any aircraft delivery issues this year as it aims to boost capacity by up to 20% in 2023.
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News
Virgin Atlantic formally joins SkyTeam
Virgin Altantic has formally entered SkyTeam today, joining transatlantic joint venture partners Delta Air Lines, Air France and KLM in the global alliance.
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News
Lufthansa Group to take first A350-1000s as part of 22-strong widebody order
Lufthansa Group is ordering 15 more Airbus A350s, including its first -1000s, and seven additional Boeing 787s for delivery from the middle of this decade.
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News
Lufthansa extends Spohr’s contract for five more years
Lufthansa Group has extended the contract of chief executive Carsten Spohr for another five years, alongside that of chief financial officer Remco Steenbergen.
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News
Turkish Airlines doubles revenues and operating profits in 2022
Turkish Airlines almost doubled revenues and operating profits last year as a sharp return in passenger demand helped it to record profitability
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Airline Business
Lufthansa banks on seating options with €2.5bn long-haul product upgrade
German carrier Lufthansa will equip more than 80 new widebodies and retrofit other aircraft as part of a €2.5 billion ($2.6 billion) long-haul product revamp revealed in Berlin today.
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News
Carlyle takes stake in SpiceJet after debt-for-equity swap deal
SpiceJet has agreed a debt-for-equity deal with Carlyle Aviation Group under which the aircraft lessor will take a stake in the Indian low-cost carrier and cargo unit SpiceXpress and Logsitics.
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News
State funds to tackle historic debts as SAA covering operating costs
South African Airways (SAA) has flagged that it is now covering its operating costs after the country’s finance ministry set aside R1 billion ($55 million) to deal with a portion of its historic debts.
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Airline Business
Schiphol measures illustrate Europe not past operational worries yet
Amsterdam’s Schiphol airport operator sought no hiding place when it termed 2022 a “poor year” in last week disclosing an operating loss €77 million ($82 million).
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News
British Airways chief upbeat on summer as recruitment drive set to tail off
British Airways chief executive Sean Doyle believes the UK carrier will have sufficient staff to meet demand this summer in contrast to the challenges the industry faced ramping up a year ago.
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News
IAG chief expects Spanish acquisition, with greater market ‘certainty’ supporting Air Europa deal
IAG group chief executive Luis Gallego sees “more certainty” in the market as providing greater hope that it can complete a deal for Air Europa after a previous acquisition attempt collapsed in late 2021.
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News
Spanish carriers lead IAG profit return in 2022
All four of IAG’s major airlines returned to the black in 2022, a year in which its Spanish carriers Iberia and Vueling came closest to matching pre-pandemic operating profitability.
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News
IAG agrees deal to acquire full control of Air Europa
Iberia parent IAG has agreed a deal with Air Europa owner Globalia to acquire the remaining 80% of the Spanish carrier in a transaction it expects to take 18 months to clear regulatory approvals.