Strategy – Page 17
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NewsCathay reports record annual profit as full recovery pushed back to 2025
Cathay Pacific Group swung to a full-year net profit in 2023 – for the first time in four years – as it pushes back its full recovery forecast and flags a normalisation of yields and “ongoing” manpower and supply chain headwinds.
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NewsJet Airways revival back on track after top tribunal green-lights ownership transfer
Jet Airways has cleared a significant hurdle in its long-running revival plan, after an appellate tribunal approved the transfer of ownership to the Jalan-Kalrock Consortium, which must be completed within 90 days.
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NewsFrontier to create new cabin class by blocking middle seat in first two rows
US ultra-discounter Frontier Airlines is again taking cues from European carriers by guaranteeing open middle seats in the two front rows of all its aircraft.
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NewsSpiceJet sees senior management exodus amid ‘strategic’ restructuring
SpiceJet has confirmed the exit of its chief commercial officer, amid a “strategic restructuring” that also sees other members of the operating and commercial teams leaving the beleaguered airline.
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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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NewsSwiss remains Lufthansa’s crown jewel with record profit and double-digit EBIT margin
Swiss International Air Lines posted a record operating profit for 2023 as healthy demand for air travel and disciplined cost-cutting allowed the airline to “definitively master the corona crisis and the major challenges that it posed”.
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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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NewsWalsh accuses UK government of ‘short-sighted cash grab’ with APD rise
The head of global airline association IATA has accused the UK government of a “short-sighed cash grab” after it announced plans to increase air passenger duty (APD) for some traveller types.
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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.
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NewsBig three US airlines again delay resumption of further China flights
The three largest US airlines are pushing back until at least late October the resumption of many flights to China that they cut early during the Covid-19 pandemic.
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NewsSwiss names new finance chief and adds operations role to management board
Swiss has named a new chief financial officer and is adding a chief operating officer to its management board.
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NewsJetBlue cancels plan to acquire Spirit, carriers plot standalone plans
JetBlue Airways has called off plans to acquire Spirit Airlines and agreed to pay Spirit a $69 million termination penalty, a move coming after a federal judge in January blocked the carriers’ proposed combination on anti-competitive grounds.
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NewsAirAsia eyes new Southeast Asia unit, as Cambodia launch pushed to mid-2024
AirAsia’s Cambodia unit is expected to commence operations in the middle of the year, half a year later than originally planned, as the airline group mulls launching another carrier in the region.
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NewsSouth Korean LCCs swing to first post-pandemic profit
South Korean low-cost operators Jeju Air and T’way Air swung to their first annual profit since the Covid-19 pandemic, helped by strong demand on Japan and Southeast Asia operations.
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NewsAirAsia, AirAsia X eye more ‘historic highs’ following profitable 2023
AirAsia and its medium-haul sister unit AirAsia X have a positive outlook for 2024, citing factors such as fleet recovery, lower fuels costs, as well as robust international travel demand.
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NewsAir France-KLM hit by disruption costs in loss-making end to profitable 2023
Air France-KLM made a loss in the fourth quarter of 2023, as costs relating to geopolitical developments in the Middle East and Africa contributed to its swing into the red but only slightly dented a positive full-year performance from the group.
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NewsUnited adds former Walgreens CEO Rosalind Brewer to board
United Airlines has added Rosalind Brewer, former chief executive of retail pharmacy and healthcare company Walgreens Boots Alliance, to its board of directors.
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NewsNew Zealand reauthorises Air NZ-SIA partnership
The New Zealand government has approved an extension of a joint venture alliance between national carrier Air New Zealand and Singapore Airlines.
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NewsAmerican Airlines sides with US DOT in Delta-Aeromexico JV spat
American Airlines has spoken out against Delta Air Lines and Aeromexico’s opposition to a US Department of Transportation (DOT) ruling that would force the two carriers to unwind their seven-year collaboration.
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NewsVolaris reports $8m profit for 2023 as demand rises
Mexican ultra low-cost carrier Volaris reported a full-year profit of $8 million as the company resized operations and capitalised on strong demand.