December 1st 2023

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FEBRUARY

As the recovery from the pandemic gained momentum, All Nippon Airways (ANA) lifted its full-year net profit and operating revenue estimates in February, stating passenger demand was rapidly recovering after an easing of travel restrictions on domestic flights and the removal of entry restrictions for international flights in many countries. Read More »

India’s IndiGo reported a more than 10 times increase in quarterly profit, which CEO, Pieter Elbers, described as a strong result, both operationally and financially, amid robust demand. Forward bookings were encouraging, he added.

Singapore Airlines Group (SIA) announced another recording breaking profit for the three months to December 31, 2022. It was seven times higher than the previous corresponding period and revenue more than doubled year-on-year. Forward sales were strong for business and leisure across all markets and in all classes, it said.

Qantas Group reported a return to profitability in the second half of calendar 2022, with the strength of pent up demand driving the strong results.

In contrast, Japan Airlines (JAL) adopted a more conservative outlook, despite a return to profit and a doubling in revenue. The oneworld alliance member reduced its net profit and revenue guidance for its full-year to “reflect the recent trend in air transport demand”.

The scale of Air India’s transformation under the ownership of Tata Group was unveiled this month when the carrier announced it will rebuild its fleet with 140 A320neo, 70 A321neo, 34 A350-1000s and six A350-900s and 190 737 MAX family airplanes, 20 787-9s and 10 777-9s. The Boeing order included options for 50 more 737 MAXs and 20 787-9s.

Embraer secured a new customer during the month when SIA LCC, Scoot, signed a Letter of Intent with lessor Azorra for nine E195-E2s, configured with 112 seats in a single-class layout, with deliveries in 2024 and 2025.

The development of the Greater Bay Area as an integrated logistics hub took a step forward this month when Cathay Cargo and the Cathay Pacific Cargo Terminal, operated by Cathay Pacific Services Ltd (CPSL), became the first airline and cargo terminal operator to accept cargo in southern China’s Dongguan for shipment out of Hong Kong International Airport.

The much-delayed SpaceJet commercial aircraft program was formally cancelled this month after Mitsubishi Heavy Industries liquidated its Mitsubishi Aircraft Corporation subsidiary. The shutdown followed years of delays and billions of dollars in development costs. Launched in 2007, the SpaceJet, then known as the Mitsubishi Regional Jet, had targeted certification for 2012.

A full house gathered at Boeing’s Everett facility in Washington State this month to say farewell as the curtain fell on the 747 program.The special event for the delivery of a 747-8F freighter to cargo operator Atlas Air ended 54 years of production of 1,574 “Queen of the Skies” aircraft.