Airline industry racked up £180bn collective net loss since pandemic December 1, 2022 The airline industry has racked up a collective net loss of almost $220bn (£180bn) since the Covid pandemic began, according to recent research. Analysis published today by analytics firm Cirium shows that revenues for the world’s airline groups went down by more than 50 per cent in 2020, ending 2021 still 40 per cent below [...]
Air France-KLM’s shares plummet as £260m+ bond issuance takes off November 16, 2022 The shares of Air France-KLM have sunk as low as 12 per cent after the carrier issued €300m (£262.5m) worth of bonds convertible into shares. Air France-KLM said the move would help it strengthen its capital and pay back the financial aid it received from the French government to stay afloat during the pandemic. Funding [...]
Misty Monday: Dozens of flights cancelled at London airports as fog engulfs capital November 14, 2022 Dozens of flights have been cancelled over the past few hours at London airports as the fog that engulfed the capital since yesterday continues to present a risk to operations. British Airways – which was forced to cancel 15 domestic and short-haul flights to Heathrow – said it was doing everything it could to get [...]
Heathrow WILL NOT introduce capacity caps during peak Christmas period November 11, 2022 Heathrow has announced it will not need any capacity cap during Christmas, as the west London hub continues to work with airlines to ensure a smoother run of operations for the peak period. “We have been working with airlines and their ground handlers to prepare for the Christmas peak, and have a good plan, which [...]
Subsidies should not be relied upon to ramp up green aviation fuel production, says charter boss November 8, 2022 The aviation industry should not rely only upon government subsidies to ramp up the production of sustainable aviation fuels (SAFs), according to private charter company Victor. Produced from the likes of solid waste and food scraps, SAFs reduce CO2 by up to 80 per cent over their life cycle and are considered the best way [...]
Airlines and airports call on UK Gov to ramp up support for green aviation fuel production November 7, 2022 A group of UK airlines and airports has called on the government to ramp up state support for the production of sustainable aviation fuels (SAFs). “We believe UK SAF production has the chance to become a domestic success story, but the government needs to act now to ensure manufacturers get the price certainty needed to [...]
Ryanair remains cautious about future despite record half-year November 7, 2022 Ryanair has remained cautious about its future despite posting a record half-year performance. Driven by an exceptional summer traffic, the low-cost carrier’s after tax earnings jumped to €1.37bn (£1.20bn) – up from a €48m net loss last year. Even though slightly below analysts’ consensus, this was its highest half-year results ever, as it surpassed the [...]
Delta boss: US’s appetite for transatlantic travel will not be over quickly November 3, 2022 Transatlantic travel is here to stay, said Ed Bastian, boss of US legacy carrier Delta. According to the chief executive, Americans’ appetite for hopping over the pond has been “truly unprecedented” following the reopening of air travel post pandemic. “So many Americans haven’t been able to go for up to three years,” he told journalists [...]
Icelandair remains ‘cautiously optimistic’ about next year as it plans moderate growth October 27, 2022 Icelandic legacy carrier Icelandair remains “cautiously optimistic” about the next year, as it plans some moderate growth despite the current inflationary headwinds. “We are in a very good position,” chief executive Bogi Nils Bogason told City A.M. today. “We can be more flexible and focused depending on how our economies are developing. “[However] people are [...]
Clear skies ahead for Lufthansa, as carrier expects strong demand to stay October 27, 2022 Lufthansa anticipates demand to remain strong in the months ahead, with capacity expected at 80 per cent of pre-Covid levels in the fourth quarter despite inflationary pressures. According to chief executive Carsten Spohr, people will continue to splash cash on tickets after two years of not being allowed to travel due to the Covid pandemic. [...]