Hainan Airlines Holding, the Shanghai-listed unit of debt-ridden HNA Group, has said it will take over stakes owned by parent HNA Group as part of an assets restructuring plan.
Global mobile satellite communications provider Inmarsat reported $1.4 billion in total group revenue for 2017, up 5.4% from 2016, largely on the strength of 36.7% growth in Inmarsat’s aviation sector, which includes in-flight connectivity (IFC), business/general aviation (BGA) and safety/operational services (SOS) revenue. The aviation sector reported $195 million in total revenue for the year.
Turkish LCC Pegasus Airlines’ predicted rebound from 2016’s losses materialized in 2017, with the Istanbul-based carrier recording a TL501 million ($131.5 million) net profit, compared to a loss of TL136.2 million in the previous year.
The global air cargo market produced a strong start to 2018, as traffic increased 8% year-over-year (YOY) in January, up from 5.8% annual growth in December. Per IATA’s January Air Freight Market Analysis, released March 7, global manufacturers continue to report strong demand for their exports, particularly in Asia-Pacific and Europe.
Ryanair has signed a union recognition agreement with Italian pilots union ANPAC, continuing the formalization of the airline’s decision to recognize unions across Europe.
Virgin Atlantic plans to offer hand luggage-only economy fares and remove six seats from its Boeing 787s for an extra-legroom product as a response to increased competition from long-haul LCCs like Norwegian.
Thailand-based LCC NokScoot intends to add its first Boeing 737s this year, which will allow the carrier to downgauge some of its lower-demand widebody routes.
WestJet, Canada’s second largest airline, made a surprise CEO change, announcing March 8 that Gregg Saretsky was stepping down “effective immediately” after eight years leading the company.
São Paulo-based LCC GOL reported a BRL378.2 million ($114 million) net profit for 2017, a 65.7% drop from BRL1.1 billion in 2016 net income, as the company paid BRL547 million in deferred income taxes during the year.
International Airlines Group (IAG) CEO and new Airlines for Europe (A4E) chairman Willie Walsh has said the association will “beat people to death” on the same core issues as the body enters its third year.
Airline CEOs attending the Airlines for Europe (A4E) Aviation Summit believe there is scope for further European consolidation, with Ryanair CEO Michael O’Leary predicting that “the next downturn is imminent.”
Irish LCC Ryanair is more optimistic that flights between the UK and the European Union (EU) will not come to a grinding halt when the country leaves the bloc (Brexit) in March 2019.
Sweden-based cargo specialist West Atlantic reduced losses in 2017, ending the year with a net loss of SEK61.6 million ($7.5 million) compared to a deficit of SEK81.8 million for the previous year.
Aeroflot Airline will revoke the premium frequent flyer status of unruly passengers, after nine reported cases of intolerable conduct—including physical assault toward employees, flight attendants and airline staff at the airport—since the beginning of 2018.
Airberlin’s insolvency administrator Lucas Floether is nearing a decision on making claims in excess of €1 billion ($1.25 billion) against former shareholder Etihad Airways as he seeks to satisfy as many creditor demands as possible.
