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 […]
Qatar Airways starts programme to meet second level of IATA’s environmental management certification scheme
Having achieved the foundation level of IATA"™s Environmental Assessment (IEnvA) certification scheme, Qatar Airways has begun implementing additional environmental management system procedures to attain stage 2 certification. The programme will cover all aspects of the airline"™s global operations, including flight and ground operations, and corporate activities. By the end of 2017, it aims to have […]
Jet fuel prices in region drop by 49.2 per cent in a year
This is the largest fall in five years as prices fell in Europe also by 47.6 per cent Jet fuel prices fell last July by 15.6 per cent to $59.8 per barrel in the Middle East and Africa, according to IATA"™s jet fuel index. The prices of jet fuel recorded the largest fall in five […]
