Qantas says pandemic ‘existential crisis’ over despite losses August 25, 2022 Qantas, Australia’s flagship airline, has said the “existential crisis” posed by the pandemic is over despite posting losses for the third consecutive year. Compared to 2021, the Australian airline widened its underlying loss before tax to 1.86bn Australian dollars (£1.1bn) due to the closure of Australia’s borders and uncertainty over the Delta and Omicron variants. [...]
Menzies cancels share listing as Agility takeover goes ahead August 5, 2022 Edinburgh headquartered aviation firm John Menzies has cancelled plans to list more of its shares on the London Stock Exchange. The cancellation comes after the aviation struck a deal with Bidco, a subsidiary of Kuwaiti logistics company Agility, through which it agreed to buy the newly issued shares. The agreement comes after Menzies’ board in [...]
Back to black: Lufthansa returns to profit but shaves flight offerings amid travel chaos August 4, 2022 Lufthansa has returned to black, posting an operating profit of €393m (£331m) in the three months to June following a boom in demand for cargo flights. Up from last year’s loss of €827m, the carrier’s adjusted EBIT margin rose to 4.6 per cent while net income went up from a loss of €756m to a [...]
Former airport chair takes aim at Willie Walsh July 24, 2022 The war of words enveloping the entire aviation industry descended further still this weekend after a former Heathrow chair and City grandee said former British Airways (BA) boss and now trade body chief Willie Walsh had “trashed a great brand and created a company that is a byword for poor service”. Sir Nigel Rudd accused [...]
How virtual twin technology is powering low carbon aviation July 14, 2022 | Sponsored The clock is ticking when it comes to preventing irreversible damage from climate change – and aerospace is one industry where a complete transformation is required to achieve Net Zero Targets. With air travel currently contributing 2.5% of global greenhouse gas (GHG) emissions, it is high time to reinvent the way we fly, and decarbonisation [...]
Plenty of sympathy for aviation chiefs but time for excuses is running out July 13, 2022 Running an airport or an airline is no doubt a hard job, not least because people most often notice you when something has gone wrong. One wag on twitter says he has a recurring nightmare in which he serves as a social media manager for a major carrier, and it is true that very few [...]
AerCap sues AIG for $3.5bn over aircraft lost in Russia July 12, 2022 AerCap, the world’s largest aircraft lessor, has recently sued AIG and other insurers following a $3.5bn all-risk claim filed in March over aircraft lost in Russia. The company argued in the UK’s High Court that insurers owed AerCap the amount as part of the “all risk” insurance policy it adopted. According to the Dublin-based company, [...]
Aircraft lessor writes off $1.1bn loss as planes remain in Russia July 9, 2022 Aircraft leasing company SMBC has written off a $1.1bn loss as 34 of its planes remain stranded in Russia following the invasion of Ukraine. The Dublin-headquartered company, one of the biggest in the world, decided to expense the fleet’s value this financial year, as the war in Ukraine is expected to continue for some time [...]
Heathrow ordered to lower passenger charges to less than £27 after bitter dispute with airlines June 28, 2022 The aviation watchdog ordered Heathrow Airport this morning to reduce its passenger charges amid a surge in demand for flights. The Civil Aviation Authority (CAA) said the cap on the west London airport’s average charge per passenger will fall from £30.19 today to £26.31 in 2026. Adjusted for inflation, the fare will amount to £28.39 [...]
Aviation leaders optimistic about future of industry June 21, 2022 The aviation industry is set to recover soon from ongoing labour shortage and travel chaos issues, according to aviation leaders. Willie Walsh – former boss of BA’s parent company IAG and now at the helm of the International Air Transport Association (IATA) – argued that while some airlines will need to adjust capacity forecasts, not [...]