Aviation Daily Roundup: Feb. 14

Two Gulf LCCs, Air Arabia and Jazeera Airways, have turned in record annual 2019 profits.

Delta Air Lines plans to spend $1 billion over the next decade to “mitigate” all emissions from its business, investing in a wide range of initiatives to reduce or eliminate carbon emissions throughout its business.

Airbus plans to cut the A330 production rate and stabilize the A350, in an acknowledgement of weak demand for widebody aircraft.

The COVID-19 outbreak has already led to an estimated $4 to $5 billion reduction in gross operating revenues for airlines across the globe, according to ICAO.

Aegean Airlines entered a new era of growth Feb. 12 with the delivery of three Airbus A320neos, powered by Pratt & Whitney GTF engines.

Ireland-based lessor AerCap, reporting $1.15 billion in net income for 2019, said its prospects are fair for 2020, although the continuing Boeing 737 MAX grounding is having an adverse effect on its figures.

Turkish carrier AtlasGlobal Airlines has halted flights after filing for bankruptcy.

A new U.S. low-cost airline being launched by a former United Airlines executive has raised $125 million and expects to start service before the end of the year.

Crediting its multiyear transformation program, the Singapore Airlines (SIA) Group posted a 10.9% year-on-year (YOY) profit growth for its fiscal 2019/2020 third quarter (Q3), earning S$315 million ($233.5 million) for the period ending Dec. 31, 2019.

Continuing uncertainty over the return to service of Boeing’s 737 MAX has forced Panama’s Copa Airlines to slash capacity guidance for 2020 and push back its targeted date to deliver a unit cost performance below six cents.

With the aerospace manufacturing sector expecting Boeing to restart 737 MAX production as early as next month or April, one widely followed industry consultant said it will take up to two years to clear out the stored inventory of narrowbody aircraft and fuselages.