Aviation Daily Roundup: March 15, 2022

Circor In Acquisition Talks, Must Restate 2019-20 Financial Results

Credit: Kristoffer Tripplaar/Alamy Stock Photo

Flow-control products and services provider Circor on March 14 announced it was in talks for a possible sale of all or part of the company, and also that it rescinded its financial reports for 2019-20 due to its Pipeline Engineering business unit. In a prepared statement, Circor said it started receiving “multiple” inquiries from outsider groups regarding the sale of all or part of the company.

U.S. Airlines Raise Revenue Forecasts Despite Fuel Price Surge

Credit: Chalabala / Getty Images

Boosted by strong bookings momentum in March, major U.S. carriers raised their revenue outlooks for the 2022 first quarter (Q1) despite a recent surge in jet fuel prices to their highest levels since 2008. Delta Air Lines, which presented first at the 2022 J.P. Morgan Industrials Conference on March 15, said in a market update that it now expects adjusted operating revenues to be down 22% from 2019 levels in Q1, better than prior expectations of down 24-28%.

Daily Memo: Europe’s Airports Face Longer Road To Recovery

Credit: AFP/Getty Images

Europe’s airports are looking beyond COVID-19 and the sudden disruption to recovery caused by Russia’s invasion of Ukraine—but they know many obstacles remain while balancing the need to return to growth with the ever-more-urgent need to do so sustainably. On March 4, trade group Airports Council International (ACI) Europe said passenger traffic in January across the European network increased by 158% compared to January 2021 but remained 45.7% below pre-pandemic levels of January 2019.

Irish Regulator Pulls Airworthiness Certificates For Russian Fleet

Credit: Rob Finlayson

The Irish Aviation Authority (IAA) has revoked the certificates of airworthiness for all aircraft registered in Ireland and operated by Russian airlines, the regulator confirmed March 15. The move follows a similar step made by Bermuda and is also based on the argument that, because of the sanctions imposed on Russia by the European Union, ability to sustain supervision of the in-service fleet is severely limited.

Norway Mulls Replacing Passenger Tax With Sustainability-Focused Levy

Credit: Joe Pries

Norway’s air passenger tax could be replaced with a new form of taxation that takes the environmental impact of flying into account. The country is consulting on a wider aviation strategy that “aims to contribute to sustainable Norwegian aviation.” Further details are expected to be announced in autumn 2022.

Korean Air Reroutes Long-Haul Flights Away From Russian Airspace

Credit: Rob Finlayson

Korean Air has become the latest Asia-Pacific carrier to reroute some of its key long-haul flights to avoid Russian airspace. As political tensions heat up following Russia’s invasion of Ukraine, an increasing number of airlines have stopped flying over Russia. This has been a headache for North Asian airlines in particular, as their flights to Western Europe typically traverse Russian airspace.

EVA Airways Opts For IAI 777 Freighter Conversion

Credit: IAI

To bolster its cargo capacity, Taiwan-based EVA Airways has selected Israel Aerospace Industries (IAI) to convert three of its Boeing 777-300ER passenger aircraft into freighters beginning in 2025. EVA told the local stock exchange that the total cost of the conversions would not exceed $40 million per aircraft and $120 million in total. The airline expects the move to add 10% to its freight capacity, adjusting the “proportion of passenger and freight revenue and enhance the company’s overall competitiveness.”

China’s Domestic Recovery Hit By New Coronavirus Outbreaks

Credit: Hector Retamal/AFP/Getty Images

Chinese airlines are facing further pressure after Beijing imposed a weeklong lockdown of tech-hub Shenzhen and redirected international flights to Shanghai in an effort to control the country’s worst COVID-19 outbreak in two years. On March 14, more than 80% of flights at Shenzhen and 70% at Shanghai’s two airports—Hongqiao and Pudong—were canceled.

Circor in acquisition talks, U.S. Airlines raise revenue forecasts despite fuel price surge and more. Take a look at the daily roundup of air transport news.

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