Nearly 35,000 aircraft valued at US$5.3 trillion required in the next 20 years
The world"™s passenger aircraft fleet above 100 seats is set to more than double in the next 20 years to over 40,000 planes as traffic is set to grow at 4.4 percent per year, according to Airbu"™ latest Global Market Forecast 2017-2036. Over this period, increasing numbers of first time flyers, rising disposable income spent […]
Governments Need to Support Production of Sustainable Aviation Fuels
The International Air Transport Association (IATA) 73rd Annual General Meeting (AGM) approved a resolution calling for governments to implement policies to accelerate the deployment of sustainable aviation fuels (SAF). The Resolution also reaffirmed the industry"™s commitment to work with governments to implement the Carbon Offset and Reduction Scheme for International Aviation (CORSIA) global CO2 emissions […]
Strong Profits Continue Labor, Fuel and Supplier Costs on the Rise
The International Air Transport Association (IATA) revised its 2017 industry profitability outlook upwards. Airlines are expected to report a $31.4 billion profit (up from the previously forecast $29.8 billion) on revenues of $743 billion (up from the previously forecast $736 billion). «This will be another solid year of performance for the airline industry. Demand for […]
The cost of going green
Having pledged to pursue carbon-neutral growth from 2020, airlines are committed to reducing the environmental cost of flying even as they gear up for decades of continued growth in air transport. A key tool in achieving this is the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA)"”a global market-based mechanism that will help airlines […]
First Air Mauritius A350 XWB takes shape in Airbus"™ Final Assembly Line
Assembly of the first A350 XWB for Air Mauritius is advancing well at Airbu"™ Final Assembly Line (FAL) in Toulouse, France. The wing-fuselage junction, the installation of the tailplane and also the tailcone have been completed. The aircraft is in the next assembly station for structural completion such as the installation of winglets, ground testing […]
New Partnership to Enhance Quality Assurance and Safety in Global Aviation Fueling
The International Air Transport Association (IATA), the Joint Inspection Group (JIG), and Airlines for America (A4A) signed a Memorandum of Understanding (MoU) to strengthen and promote Safety and Quality Assurance in global aviation fueling activities. «Maintaining the quality of the aviation fuel supply and the supporting infrastructure and operations is vital to the safe and […]
Aircraft depreciation, residual values and useful economic lives have shifted in the past 35 years says IBA
How realistic is depreciation of an aircraft over a 20 or 25 year life when aligned to a % of original cost? This was a question asked at a recent joint breakfast seminar entitled "˜Emerging Accounting and Valuation Challenge"™ hosted by KPMG Dublin and independent aviation consultancy firm IBA. Addressing a knowledgeable audience of airline, […]
Turkish Airlines narrows net loss in 1Q
Turkish Airlines recorded a 2017 first-quarter net loss of $373 million, narrowed from a net loss of $421 million for the year-ago quarter. Operating revenue for the quarter was $2 billion, down 10% year-over-year (YOY) from $2.2 billion in the 2016 1Q. Expenses fell 11% to $2.2 billion, producing an operating loss of $209 million, […]
Etihad comfortably surpasses industry target with a 2.5 per cent fuel efficiency improvement in 2016
Etihad Airways claims to have improved fuel efficiency across all operations by 2.5% in 2016, which represented savings of nearly 190,000 tonnes of CO2 emissions, the equivalent of 1,200 flights between Abu Dhabi and London. The UAE"™s national airline says it is working on several key initiatives to optimise efficiency, both with the aircraft fleet […]
Long-time partners Travelport and Air Canada announce new full content agreement
Travelport, a leading Travel Commerce Platform, and Air Canada announced they have signed a new, long-term, full content agreement that establishes a framework for ongoing merchandising, branding, and technology collaboration between the two travel industry leaders. Under the full content agreement, Travelport-connected agencies in over 180 countries, servicing hundreds of millions of consumers around the […]
