Latest Airlines news – Page 153
-
NewsEmbattled Flyr optimistic of positive earnings from mid-2023
Norwegian carrier Flyr is optimistic that its revised business plan will be sufficient to nurse the airline through the winter season, and that earnings margins will start to turn positive from June next year. Despite a strong summer market, Flyr turned in a third-quarter operating loss of NKr231 million ($22 ...
-
NewsFlyr seeks NKr530m through share issues to relieve ‘very strained’ finances
Norwegian budget carrier Flyr is looking to reinforce its financial position with share placements which would potentially raise NKr530 million ($50 million). This scheme comprises a private placement for NKr430 million and a possible subsequent placement, for those unable to participate in the private issue, aimed at raising another NKr ...
-
NewsIsrael’s El Al repays $45m state loan
Israeli flag-carrier El Al has repaid a state loan of $45 million advanced to the carrier as part of a financial support package. The airline, which had indicated in September that it would be repaying the loan two years ahead of schedule, says the transaction was completed on 2 November. ...
-
NewsKorean Air begins ‘intensive’ inspections of A330s following spate of safety incidents
Korean Air has started “intensive” inspections on its fleet of Airbus A330s, taking them out of service in phases, following two incidents involving the type within the span of a week.
-
NewsGaruda swings to nine-month profit on revenue gains
Garuda Indonesia rebounded to the black in its nine-month earnings, helped by a 60% increase in revenue as international borders reopened.
-
NewsAir New Zealand firms up programme for zero emissions aircraft
Air New Zealand has announced a programme to for a zero emissions aircraft, building on the carrier’s Product Requirements Document (PRD).
-
NewsRussian lessor GTLK renegotiates debts with several carriers
Four Russian carriers have renegotiated lease debts with the state lessor GTLK, in the wake of pressure from sanctions and the aftermath of the pandemic. IrAero and Azimuth, along with the regional operators SiLA and Aeroservis, have settled debts on “mutually beneficial terms”, says the lessor. It adds that the ...
-
NewsTAP chief welcomes acquisition interest as carrier reports record Q3 revenue
TAP Air Portugal’s chief executive has welcomed the interest from Air France-KLM – and potentially others – in acquiring a stake in the Star Alliance carrier as it reported its highest-ever third-quarter revenue and forecast a “good” full-year performance.
-
NewsBullish Korean Air betters Q3 profit as passenger revenue soars
Korean Air saw a significant jump in its third-quarter operating profit, amid an upswing in passenger revenue following South Korea’s move to ease all Covid-19-related travel restrictions.
-
NewsFuel-price pressure prolongs Royal Jordanian’s financial misery
Royal Jordanian Airlines edged into a third-quarter operating profit, with a surplus of JD5.3 million ($7.4 million), but net losses for the quarter and the nine-month period were worse than last year’s figures. The flag-carrier generated revenues of JD452 million for the nine months to 30 September – including JD363 ...
-
NewsAeroitalia signs for three 737 Max 8s from Air Lease
Aeroitalia is to take three Boeing 737 Max 8 jets on long-term placements from Air Lease, as the Italian start-up carrier seeks to expand its operations in the coming years.
-
NewsRyanair reports October traffic up 14% on 2019, while Wizz sees 22% rise
Ryanair exceeded its pre-Covid passenger numbers by nearly 2 million in October this year, while rival Wizz Air reported traffic up by around 800,000 passengers on the same basis.
-
NewsSAS seals renegotiated fleet leases with more lessors
Scandinavian operator SAS has secured additional agreements with lessors to change the terms of lease contracts as part of its restructuring programme. SAS is operating under US Chapter 11 bankruptcy protection, and the court is overseeing progress with the carrier’s ‘SAS Forward’ re-organisation initiative. The restructuring crucially requires amendments to ...
-
NewsWizz returns conflict-stranded Airbus to service and awaits return of others
Central European budget carrier Wizz Air has returned to service one of the four Airbus jets stranded in Ukraine as a result of the conflict. The rescued aircraft, an A320, was retrieved from the city of Lviv on 13 September, and flown to Katowice in Poland. Wizz says “no significant ...
-
NewsWizz Air seeks to offset choppy currency impact as operations stabilise
Budget carrier Wizz Air has shifted towards euro-denominated lease contracts as part of a strategy to counter the effects of economic conditions. The airline has turned in a first-half operating loss of €63.8 million ($63 million) for the six months to 30 September. But a net foreign-exchange losses amounting to ...
-
NewsJAL narrows first-half operating loss on surging revenues
Japan Airlines (JAL) narrowed operating losses for the first half of its 2022 financial year to Y4 billion ($38.3 million) from Y142 billion a year earlier, as revenues surged amid a revival in air travel.
-
NewsGovernment pays arrears and takes over fleet loan after Kenya Airways default
Kenya’s government has stepped in to pay Kenya Airways debts after the airline defaulted on a loan agreement for aircraft and engine acquisitions. The government is also set to take over the loan in the current 2022-23 fiscal year, according to the country’s treasury. In an annual public debt management ...
-
NewsChina’s ‘Big Three’ plunge to steeper losses amid relentless Covid-19 battles
China’s three largest carriers were deeper in the red in their third-quarter earnings, as they were hit by a double whammy of the country’s long-drawn zero-infection strategy and rising fuel costs.
-
NewsKuwait Airways looks to acquire freighters as fleet modernisation advances
Kuwait Airways is looking to take advantage of increasing cargo demand with the acquisition of dedicated freighters for its fleet. Speaking to FlightGlobal at the Arab Air Carriers Organization conference in Abu Dhabi, chief executive Maen Razouqi said he believed the airline could support up to five freighters. “We don’t ...
-
NewsStrong summer lifts Jazeera past 2019 passenger levels over first nine months
Kuwaiti low-cost carrier Jazeera Airways lifted operating profits by 25% to KD16.1 million ($51.8 million) in the third quarter on a doubling of revenues.