Delta Air Lines Boeing 767-332 ER WL N173DZ (msn 29692) SEA (Michael B. Ing). Image: 960030.
Delta Air Lines announced:
Delta will operate seasonal winter service between New York-JFK and Rio de Janeiro starting Dec. 16, the third new route announced with Joint Venture partner LATAM Group.
Route to Rio adds to Delta and LATAM’s position as the No. 1 Joint Venture partnership for service between NYC and South America.
New York’s No. 1 airline to add seasonal New York-JFK-Buenos Aires** service on Oct. 29.
New Yorkers will soon be able to jet nonstop to another city that never sleeps, Rio de Janeiro, when Delta launches seasonal service between New York-JFK and Rio Galeão Airport (GIG) in Brazil starting Dec. 16. The new route — the third that Delta and LATAM have announced since the Joint Venture was approved in September 2022 — will operate daily on Delta’s Boeing 767-300 aircraft featuring Delta One, Delta Premium Select, Delta Comfort+ and Main Cabin service.
SCHEDULE OF NEW SEASONAL SERVICE BETWEEN NEW YORK JFK AND RIO DE JANEIRO*
Flight
Departure
Arrival
DL245 JFK-GIG
8:30 p.m.
8:20 a.m. the next morning
DL244 GIG-JFK
10:20 a.m.
6:30 p.m.
*Seasonal service starts Dec. 16. Schedules subject to change.
JOINT VENTURE PARTNERSHIP WITH THE MOST FLIGHTS BETWEEN THE U.S. AND BRAZIL
Whether to enjoy Rio’s world-famous beaches, discover Brazil’s landscape and its samba soundtrack, visit friends and family or seal a business deal, Delta and LATAM offer the most ways to travel between the U.S. and Brazil. Delta offers daily service between JFK and São Paulo, twice daily service between its Atlanta hub and São Paulo, and seasonal service between Atlanta and Rio de Janeiro. LATAM offers service between São Paulo and five U.S. gateways, including New York-JFK, Boston, Orlando, Miami and, starting this summer: new Los Angeles service that will operate three-times weekly beginning in the third quarter.
THE MOST SERVICE BETWEEN NYC AND SOUTH AMERICA
Delta and LATAM together are New York City’s #1 Joint Venture partnership, offering the most service between the Big Apple and South America with flights between JFK and São Paulo, Brazil; Lima, Peru; Santiago, Chile; Bogota, Colombia and soon Rio de Janeiro.
The Joint Venture between LATAM and Delta is improving the travel experience for passengers and cargo customers. The partnership applies to select markets between North and South America, delivering customer benefits and faster connections to more than 300 destinations between the U.S./Canada and South America (Brazil, Chile, Colombia, Paraguay, Peru and Uruguay).
Top Copyright Photo: Delta Air Lines Boeing 767-332 ER WL N173DZ (msn 29692) SEA (Michael B. Ing). Image: 960030.
Southwest Airlines is taking a step to enchorage the applications of new pilots.
The airline has lowered its requirements for new pilots. New pilots will now need only 500 ‘turbine’ hours rather than 1,000 hours according to the Wall Street Journal.
Top Copyright Photo: Southwest Airlines Boeing 737-76V WL N564WN (msn 30244) FLL (Bruce Drum). Image: 105892.
Swiss International Air Lines Boeing 777-300 ER HB-JNJ (msn 62755) PAE (Nick Dean). Image: 941193.
Swiss International Air Lines will resume its passenger services between Zurich and Shanghai on March 3, 2023. One weekly flight is currently planned on the route for the month of March, which will then be expanded to three weekly frequencies from April onwards.
The flights will generally be operated using Boeing 777-300ER aircraft, or alternatively Airbus A340-300.
Shanghai (Swiss)
Swiss suspended its previous scheduled passenger services between Zurich and Shanghai in April 2022 in view of the travel restrictions imposed in response to the coronavirus pandemic, and its services on the route have since been limited to cargo-only flights.
In addition to resuming its Zurich-Shanghai passenger flights, Swiss will also be increasing its service to and from Hong Kong from five to six weekly frequencies in the 2023 summer schedules.
Top Copyright Photo: Swiss International Air Lines Boeing 777-300 ER HB-JNJ (msn 62755) PAE (Nick Dean). Image: 941193.
According to Reuters, the FAA stated it is proposing to fine United Airlines $1.1 million for allegedly conducting Boeing 777-200 flights without making required preflight fire system warning checks.
United is believed to have flown more than 102,000 flights of its Boeing 777 aircraft between June 2018 and April 2021 that did not meet U.S. airworthiness requirements.
United allegedly “removed the fire system warning check from its Boeing 777 preflight check list. The inspection is required in the maintenance specifications manual. Removal of the check resulted in United’s failure to perform the required check.”
Top Copyright Photo: United Airlines Boeing 777-224 ER N77006 (msn 29476) LAX (Michael B. Ing). Image: 956055.
Through the comprehensive MoU, Etihad Cargo’s customers will benefit from additional cargo capacity out of Nairobi via the introduction of additional services from Nairobi to Etihad Cargo’s hub in Abu Dhabi from April 1, 2023.
The expansion of the partnership between Etihad Cargo and Astral Aviation will further enhance Etihad Cargo’s capabilities in the African market. In 2021, the carrier signed a Service Level Agreement (SLA) with Astral Aviation to provide reliable and cost-effective air freight solutions for the transport of pharmaceuticals across the continent. The SLA was Etihad Cargo’s first Pharma Interline agreement and ensured the carrier’s partners’ full compliance with latest IATA Pharma and GDP regulations and standards.
This latest agreement builds on Astral Aviation’s expanding partnership with Abu Dhabi, which will see Astral Aviation operating more flights to the UAE’s capital, supported by Etihad Cargo.
The agreement will see Astral Aviation and Etihad Cargo sharing up to 50 percent of all available capacity on the new Nairobi-Abu Dhabi-Nairobi flights, increasing the capacity Etihad Cargo offers air cargo and air mail customers. Via Etihad Cargo’s Abu Dhabi hub, the carrier’s global network will offer connectivity to destinations around the world. Etihad Cargo will utilise its expansive road feeder service network to transport cargo arriving in Abu Dhabi from Nairobi to destinations throughout the UAE and other offline stations.
Astral Aviation flies a reliable schedule network to 20 destinations and a charter network to 50 destinations from its Nairobi, Dubai, Johannesburg and Liege Hubs, Astral flies to more destinations then any African carrier.
Astral operates fleet of B747-400F, B767-200F, B757-200F, B727F, DC-9F and F50F,
Astral is the only African carrier with a diverse-fleet from 7 tons to 110 tons.
Top Copyright Photo: Astral Aviation (Air Atlanta Icelandic) Boeing 747-48EF TF-AMU (msn 27603) LGG (Rainer Bexten). Image: 951189.
Coulson Aviation has announced it has been awarded the contract for Australia’s National Large Air Tanker (LAT).
The converted Boeing 737, Tanker 139, is the newest addition to Coulson’s FireLiner™ fleet and will be based in Sydney, New South Wales but will support additional locations in-country as needed. As the National LAT, Tanker 139 will wear the name “Phoenix” as a result of a naming competition last year via local Australian schools and joint winners Bishop Druitt College Coffs Harbour, St Patrick’s College Campbelltown, and Christian College Geelong.
Converted Boeing 737-700 (Coulson Aviation)
The 737 is in Australia funded by the Commonwealth Government through a partnership with the National Aerial Firefighting Centre (NAFC). The contract is for two years with the option to extend. Phoenix is equipped with Coulson Aviation’s Retardant Aerial Delivery System (RADS), the Company’s patented tanking and release system. With RADS onboard, the aircraft is capable of dropping up to 4,000 gallons of retardant or water at flow rates of up to 3,000 gallons per second.
The State and Territory agencies involved in firefighting and land management recognize that improved performance and other synergies may be obtained through cooperation and sharing of aircraft resources. The NAFC arrangements allow for the procurement and sharing of these resources nationally.
Coulson Aviation is the only company in the world to convert a Boeing 737 commercial airliner into a multi-mission FireLiner™ aircraft. The Company has operated in Australia for almost 20 years, providing aerial support across multiple Australian States. Coulson’s roots in aviation, combined with the company’s proprietary technology, a wide array of aircraft types, and well-trained attack crews, allow simultaneous aerial firefighting support across multiple regions.
Meanwhile Boeing 737-300 tanker (N619SW) has crashed in southern Australia:
At approx 4.15pm Coulson Aviation B737 (N619SW) Air Tanker based in WA, Australia crashed while responding to a bushfire in the Fitzgerald River National Park.
Both crew removed themselves from the aircraft & were transferred to a local medical facility.
Lufthansa Cargo will begin equipping all its Boeing 777 freighters with AeroSHARK from 2023. The innovative surface technology from Lufthansa Technik and BASF improves fuel efficiency and helps achieve sustainability goals.
Lufthansa Cargo’s first AeroSHARK-modified Boeing 777 freighter, registered D-ALFA, took off for the first time at 05:07 (CET) on February 3, 2023. Under flight number LH8410, the Boeing 777F started from Frankfurt (FRA) to Bengaluru (BLR), from where it will fly on to Chengdu (CTU).
Photo: Lufthansa Cargo
AeroSHARK is a surface film that mimics the microscopic structure of shark skin. Its structure consists of ribs around 50 micrometers in size – so-called riblets. If the flow pattern on the fuselage and engine nacelles of the Boeing 777F is optimized in this way, significant savings in fuel and thus emissions can be achieved. This modification, developed by Lufthansa Technik and BASF, will now gradually be used on Lufthansa Cargo’s entire fleet of 777 freighters, making them more fuel-efficient and reducing emissions.
For the modified Boeing 777F, Lufthansa Technik expects fuel savings of slightly more than one percent. Extrapolated to Lufthansa Cargo’s entire 777 fleet, this will result in annual savings of more than 4,000 metric tons of kerosene and nearly 13,000 metric tons of CO2 emissions, equivalent to about 53 individual cargo flights from Frankfurt to Shanghai.
In cooperation with BASF, Lufthansa Technik is responsible for the specification of the material, the airworthiness certification and the implementation of the aircraft modifications, which are carried out during regular maintenance layovers. In December of last year, the company obtained a Supplemental Type Certificate (STC) for two types of Boeing 777 from the European Aviation Safety Agency (EASA), paving the way for the serial application now underway on the 777 freighter fleet.
Top Copyright Photo: Lufthansa Cargo Boeing 777-FBT D-ALFA (msn 41674) YYZ (TMK Photography). Image: 937843.
Etihad Airways is increasing its services to Frankfurt, Germany.
From May 1, 2023, the airline will add an extra four services a week to its current daily frequency, bringing the total number of flights to Frankfurt up to 11 weekly.
The additional flights will be operated by one of Etihad’s ultra-modern Boeing 787 Dreamliner aircraft, designed with customer comfort in mind, boasting 28 seats in Business and 262 in Economy.
Top Copyright Photo: Etihad Airways Boeing 787-10 Dreamliner A6-BMH (msn 60765) (Greenliner) MUC (Tony Storck). Image: 960014.
After a two-year absence, British Airways has announced it will resume flights between the UK and mainland China. Flights to Shanghai will commence on April 23 and Beijing on June 3.
British Airways first flew to China in 1980 and continued to do so until the pandemic. The airline has been working hard to reintroduce these important routes to enable customers to reunite with family and friends.
Chinese Cabin Crew Wing CeremonyTaken: 27th May 2016Picture by: Stuart Bailey / British Airways
From April 23, flights will operate daily between London Heathrow and Shanghai Pudong International Airport – flight numbers BA168/BA169. From June 3, flights will operate four times per week between London Heathrow and Beijing Daxing Airport – flight numbers BA88/89.
Schedule:
Flight Number
Day of week
Departure Airport
Departure Time
Arrival Airport
Arrival Time
London-Shanghai Service from 23rd April 2023
BA169
Daily
London Heathrow
1225
Shanghai Pudong
0755^
BA168
Daily
Shanghai Pudong
1100
London Heathrow
1825
London-Beijing service from 3rd June 2023
BA89
Mon, Tue, Thu, Sat
London Heathrow
1505
Beijing Daxing
0935^
BA88
Tue, Wed, Fri, Sun
Beijing Daxing
1120
London Heathrow
1730
^arrives 1 day later
*Schedule is effective from 23rd April and 3rd June 2023 and subject to operational change and regulatory approval.
Top Copyright Photo: British Airways Boeing 787-9 Dreamliner G-ZBKK (msn 38627) AMS (Ton Jochems). Image: 960012.
Avelo Airlines takes flight for the first time today from Wilmington Airport (ILG).
Avelo Airlines’ inaugural flight departed for Orlando at 10:00 a.m. ET — the first of five nonstop Florida destinations Avelo begins serving this week.
Avelo’s new ILG base will enable nonstop flights to five popular Florida destinations: Fort Lauderdale (FLL), Fort Myers(RSW), Orlando (MCO), Tampa (TPA) and West Palm Beach (PBI). Avelo will fly to Fort Lauderdale on Thursdays and Sundays; Fort Myers on Mondays and Fridays; Orlando on Mondays, Fridays and Saturdays; Tampa on Thursdays and Sundays; and West Palm Beach on Wednesdays and Saturdays.
Routes from Wilmington, DE:
Top Copyright Photo: Avelo Airlines Boeing 737-7H4 WL N701VL (msn 36617) LGB (Michael Carter). Image: 954968.
Atlas Air, Inc., a subsidiary of Atlas Air Worldwide Holdings, Inc. on January 31 announced it has taken delivery of the final 747 (N863GT) ever to be produced by Boeing.
The delivery of this aircraft is the last of four new Boeing 747-8 Freighters Atlas ordered in January 2021. Atlas Air will operate this aircraft for Apex Logistics, a Kuehne+Nagel company, under a long-term agreement.
Atlas designed a custom split livery for this special aircraft, with the Atlas Air logo on the right side and tail of the aircraft, and the Apex Logistics logo on the left side. To honor the legacy of the “Queen of the Skies,” a special decal is included to the right of the nose featuring Joe Sutter, considered by Boeing to be the “Father of the 747.”
“The names we chose for the last two iconic aircraft fit their legacy – ‘Inspire.’ and ‘Empower.’,” said Yngve Ruud, Member of the Management Board of Kuehne+Nagel, responsible for Air Logistics. “We are looking forward to see the last 747-8F aircraft taking off to fulfill the versatile needs of our customers around the world with unmatched capability.”
Boeing made this announcement:
Photo: Boeing. Boeing and Atlas Air Worldwide joined thousands of people – including current and former employees as well as customers and suppliers – to celebrate the delivery of the final 747 to Atlas, bringing to a close more than a half century of production.
Boeing employees who designed and built the first 747, known as the “Incredibles,” returned to be honored at the Everett factory where the journey of the 747 began in 1967. The factory produced 1,574 airplanes over the life of the program.
“This monumental day is a testament to the generations of Boeing employees who brought to life the airplane that ‘shrank the world,’ and revolutionized travel and air cargo as the first widebody,” said Stan Deal, president and chief executive officer of Boeing Commercial Airplanes. “It is fitting to deliver this final 747-8 Freighter to the largest operator of the 747, Atlas Air, where the ‘Queen’ will continue to inspire and empower innovation in air cargo.”
“We are honored to continue our long history of flying this iconic aircraft for our customers around the world,” said John Dietrich, president and chief executive officer, Atlas Air Worldwide. “Atlas Air was founded over 30 years ago with a single 747-200 converted freighter, and since then, we have spanned the globe operating nearly every fleet type of the 747, including the Dreamlifter, Boeing’s 747 Large Cargo Freighter, for the transport of 787 Dreamliner parts. We are grateful to Boeing for their shared commitment to safety, quality, innovation and the environment, and for their partnership to ensure the continued success of the 747 program as we operate the aircraft for decades to come.”
As the first twin-aisle airplane and “jumbo jet,” the “Queen of the Skies” enabled airlines to connect people across vast distances and provide non-stop trans-oceanic flights. Its development solidified Boeing’s role as an industry leader in commercial aviation. The airplane’s core design with its distinctive hump and seating in the upper deck has delighted generations of passengers and operators alike. Boeing continued to improve on the original design with models like the 747-400 in 1988 and the final 747-8 model that was launched in 2005; across all the models, the jet has delivered unmatched operating economics and efficiency to travel and air cargo markets.
Cirium’s key 747 facts
1,574 Boeing 747s have been built
One 747 was not delivered and instead went to a museum, meaning that 1,573 have entered service
The first flight of the Boeing 747 took place on February 9, 1969
While four 747s were delivered in 1969 for crew training, entry into service with Pan-Am took place in 1970.
The aircraft first served the President of the United States of America as ‘Air Force One’ through the US Air Force’s VC-25 program in 1990.
Flyr was not successful with a new financing plan and the board concluded on Tuesday evening that there are unfortunately no alternatives for further operation. The company will file for bankruptcy on Wednesday morning (February 1, 2023). All Flyr’s flights have been canceled and ticket sales have stopped.
Many thanks to everyone who has chosen to fly with us over the past year and a half, for welcoming us so well and for all the cheers. We will miss you all and deeply apologize to everyone affected by the fact that we now have to go in for landing.
We encourage everyone who has booked a ticket with us to contact their credit card company for a refund.
The executor will take over all responsibility for Flyr. The company will share contact information on www.flyr.com as soon as it becomes available.
Flyr was scheduled to serve 32 destinations across Europe in 2023 – with its largest operation being at Oslo Airport where the carrier was based
The Norwegian airline had been due to launch a new route between London Gatwick and Oslo in March 2023, and also previously operated flights to Edinburgh in 2022
During February 2023, Flyr was scheduled to operate 306 flights – equating to over 57,000 seats.
Top Copyright Photo: Flyr Boeing 737-82R WL LN-FGA (msn 40014) SZG (Gunter Mayer). Image: 957148.
The original Boeing 747 over Mount Rainier in Washington State in 1974.
Boeing will livestream the delivery ceremony of the last Boeing 747 today (January 31):
Boeing will present a live webcast of the ceremony marking the delivery of the final 747 to Atlas Air on Jan. 31 at 4 p.m. Eastern (1 p.m. Pacific).
Thousands of people – including current and former employees as well as customers and suppliers – will celebrate the final delivery in the factory constructed to produce the iconic widebody with the distinctive hump. The final airplane, a 747-8 Freighter, is the 1,574th manufactured during 55 years of production.
While the event is not open to the public, Boeing will make this live webcast available globally at this link.
Join us in bidding farewell to the #QueenOfTheSkies on Tuesday, January 31, 2023, at 1 p.m. PST in a live webcast of our final 747 delivery celebration. #ThankYou747
Boeing has internally announced it will open a fourth 737 MAX assembly line at its Everett plant which is increasingly becoming vacant according to the Seattle Times.
Currently Boeing has three 737 MAX assembly lines at its Renton plant.
Swoop operated the last of its seasonal restarts with Saturday’s nonstop flight from Hamilton to Montego Bay. This winter Swoop offers more than 100 sun flight options per week so Canadians can escape the cold and enjoy beach vacations at affordable prices.
Swoop has expanded its winter schedule to include over 100 sun flights per week to destinations across the U.S., Mexicoand the Caribbean. As of today, Swoop offers eight sun-flying routes from Hamilton with 24 flights per week, providing travellers flexibility and convenience at an ultra-low price.
Route
Peak Weekly Frequency
One-way total price (CAD)
Base Fare (CAD)
Taxes & Fees (CAD)
Hamilton to Fort Lauderdale
2x weekly
$99.00
$6.92
$89.13
Hamilton to Montego Bay
2x weekly
$159.00
$47.33
$111.67
Hamilton to Cancun
2x weekly
$139.00
$38.36
$97.70
Hamilton to Las Vegas
4x weekly
$129.00
$35.49
$90.56
Hamilton to Orlando
7x weekly
$99.00
$6.92
$89.13
Hamilton to Puerto Vallarta
2x weekly
$159.00
$58.35
$97.70
Hamilton to St. Pete-Clearwater
3x weekly
$109.00
$16.44
$89.61
Hamilton to Punta Cana
2x weekly
$199.00
$90.68
$108.32
†Seasonal start and end dates apply and are indicated in the booking flow. | Fares are valid until January 31, 2023 or while seats last. | Prices displayed are subject to change and are not guaranteed until payment is made and accepted.
Route Map:
Swoop Route Map
Top Copyright Photo: Swoop (WestJet) Boeing 737-8 MAX 8 C-GYLP (msn 42844) YYZ (TMK Photography). Image: 959276.
Ryanair Holdings plc today (January 30, 2023) reported a Q3 PAT of €211m, compared to a pre-Covid (FY20) Q3 PAT of €88m. Strong pent-up travel demand over the Oct. mid-term and peak Christmas/New Year holiday season (with no adverse impact from Covid or the war in Ukraine) stimulated strong traffic and fares across all markets.
31 Dec. 2021
31 Dec. 2022
Change
Customers
31.1m
38.4m
+24%
Load Factor
84%
93%
+9pts
Revenue
€1.47bn
€2.31bn
+57%
Op. Costs
€1.59bn
€2.15bn*
+36%
Net (Loss)/ PAT
(€96m)
€211m*
n/m
EPS
(€0.08)
€0.18
n/m
* Non-IFRS financial measure, excl. €9m except. unrealised mark-to-market loss (timing unwind) on jet fuel caps.
During Q3:
Traffic jumped 24% to 38.4m (+7% pre-Covid in FY20).
Q3 fares rise 14% on pre-Covid levels.
Pay cuts restored by agreement in Dec. (28-months early) for over 95% of crews.
YTD unit costs (ex-fuel) of just €30.
84 B737-8200 “Gamechangers” delivered at 31 Dec. Total fleet of 523 aircraft.
230 new routes announced for FY24 (total 2,450 routes).
Strong market share gains in Italy, Poland, Ireland & Spain.
H1 FY24 fuel hedging increased to 60% cover at $90bbl.
Ryanair’s Michael O’Leary, said:
ENVIRONMENT:
“Our investment in new fuel efficient, greener, B737 aircraft continued in Q3 with our Gamechanger fleet (4% more seats with 16% less fuel) increasing by 11 to 84 aircraft. In Q3 we began to retro-fit scimitar winglets on our 409 B737-800NG owned fleet (a $200m+ investment) which will further reduce fuel burn by 1.5%.
Sustainable aviation fuel (SAF) will play a key role in reducing our CO₂ per pax/km by 10% to 60 grams by 2030, when hopefully 12.5% of our flights will be powered with SAF. We continue to invest to accelerate supply of SAF. Building on our successful partnerships with Neste (Schiphol) and OMV (Austria, Germany and CEE), Ryanair signed an MOU in Q3 with Shell to supply 360,000 tonnes of SAF between 2025 – 2030 (saving 900,000 tonnes of CO₂), at Ryanair’s larger bases in London and Dublin. In Dec. we hosted a Sustainability Day with our partner Trinity College Dublin (“TCD”). This event brought together industry leaders, scientists and engineers (incl. Boeing, MAG, Safran, Shell Aviation, Ryanair, TCD academics and PhD students) who presented to an audience of investors, politicians, regulators and financial institutions on Ryanair’s (and the aviation industry) path to net carbon zero by 2050. Through A4E, and the EU, we are campaigning to accelerate reform of European ATC to eliminate needless flight delays, which will substantially reduce fuel consumption and CO₂ emissions.
Passengers who switch to Ryanair (from high-fare EU legacy airlines) can reduce their emissions by up to 50% per flight. In recognition of our progress to date and our industry leading (CDP ‘B’) climate rating, MSCI increased Ryanair’s ESG score to ‘BBB’ (was ‘B’) and Sustainalytics[1] ranked Ryanair the No.1 airline in Europe for ESG performance. Earlier this year, we submitted Ryanair’s commitment letter to SBTi[2] and we will work with them over the next 2 years to verify our ambitious targets to become net carbon zero by 2050.
SOCIAL:
Pay restoration:
At the outset of the Covid-19 pandemic, Ryanair and its union partners negotiated agreements to protect crew jobs via temporary pay cuts which were to be gradually restored from 2022 to 2025. These agreements successfully ensured crew jobs security through the 2 years Covid pandemic, as Ryanair maintained not only the jobs but also the licences of our crews. This investment positioned Ryanair as the most prepared airline for the post-Covid traffic recovery. By keeping our crews current, and recruiting early, Ryanair avoided the crew shortages which caused so many competitor cancellations and disruptions in S.22. In Nov., following a strong H1 performance, Ryanair agreed to fully restore pay (28 months early) for over 95% of crews covered by new long-term pay agreements in the Dec. payroll. We remain available to conclude agreements (on similar terms) with the tiny minority of unions representing less than 5% of our crews who have so far failed to reach agreement on accelerated pay restoration.
Training:
As Ryanair grows traffic to 225m p.a. by FY26 our Group airlines will create thousands of high paid jobs for aviation professionals. S.23 resourcing is well advanced with over 1,000 cadets enrolled in our pilot training schools and new cabin crew courses underway. Ryanair Labs recently launched a campaign to recruit 150 IT professionals to our labs teams in Dublin, Madrid, Porto and Wroclaw. During FY23 we announced new engineering maintenance facilities in Malta, Kaunas (Lith.) and Shannon (Ire.) and expect to add further capacity in the coming months. These new facilities will enable us to create more cadets and apprenticeships for young school leavers, bringing through the next generation of highly skilled aviation professionals.
CSAT:
Building on strong operational resilience and reliability during S.22 (despite numerous ATC delays/strikes and lengthy airport security queues – particularly in Q1), Ryanair continued to deliver industry leading service for our customers over the busy Oct. school mid-term and peak Christmas/New Year travel period. This was reflected in Q3’s CSAT score which rose to 86% (83% for H1), with crew friendliness our top score (rated at 95%).
GROWTH:
Ryanair secured strong market share gains in key EU markets as we operated 112% of our pre-Covid capacity during the first 9 months of FY23. Most notable gains were in Italy (from 26% to 40%), Poland (27% to 38%), Ireland (49% to 58%) and Spain (21% to 23%). Our Routes team continue to negotiate traffic recovery growth deals with airport partners as competitors struggle to recover capacity (down as much as 20% this winter) and grapple with rising costs. Up to the end of Q3, Ryanair has taken delivery of 84 B737 Gamechangers and we’re planning FY24 growth based on 124 new aircraft for peak S.23, although there is a risk (despite recent Boeing production improvements) that some of our Gamechanger deliveries could slip. Over 230 new routes (total 2,450 with 3,200 daily flights) have been announced for FY24. With Asian tourists now returning and a strong US$ encouraging Americans to explore Europe, we’re seeing robust demand for Easter and summer 2023 flights. We therefore encourage customers to book early on www.ryanair.com to secure the lowest fares as we expect these will sell out early.
Over the past 3 years, numerous airlines went bankrupt and many legacy carriers (incl. Alitalia, TAP, SAS and LOT) significantly cut their fleets and passenger capacity, while racking up multi-billion-euro State Aid packages. These structural capacity reductions have created enormous growth opportunities for Ryanair. These opportunities, combined with our reliability, lowest (ex-fuel) unit costs, strong fuel and US$ hedges, fleet ownership and strong balance sheet, ensures that the Group is well placed to grow profitability and traffic to 225m p.a. by FY26.
Q3 FY23 BUSINESS REVIEW:
Revenue & Costs:
Q3 scheduled revenue increased almost 85% to €1.45bn due to strong travel demand at higher fares (+14% over pre-Covid), especially during the Oct. mid-term and the peak Christmas/New Year holiday season. Ancillary revenue delivered another solid performance, generating over €22.50 per passenger. Total Q3 revenue rose 57% to €2.31bn. Operating costs increased 36% to €2.15bn, driven by higher fuel costs (+52% to €0.90bn, offset by improved fuel burn as more Gamechangers enter the fleet), crew pay restoration and 24% traffic growth. Ex-fuel operating costs rose by only 26%, marginally ahead of traffic and year to date unit costs (ex fuel) are just €30 per passenger. Other income/expenses benefitted from a weaker US$ in Q3 reversing H1’s negative currency charge.
Our jet fuel requirements are 88% hedged at approx. $71bbl for the remainder of FY23 and H1 FY24 cover has recently increased to 60% at $90bbl (FY24: 57% at $92bbl). Forex is also well hedged with over 80% of Q4 FY23 €/$ opex hedged at just under 1.15 and approx. 60% of FY24 at 1.08. Our Boeing order book is fully hedged at €/$ 1.24 out to FY26. This strong hedge position helps insulate Ryanair from spikes in fuel prices and gives our Group airlines a significant cost advantage over our EU competitors for the remainder of FY23 and into FY24.
Balance Sheet & Liquidity:
Ryanair’s balance sheet is one of the strongest in the industry with a BBB (positive) credit rating (S&P and Fitch) and €4.07bn gross cash at quarter end. Almost all of the Group’s fleet of B737s are owned and c.96% are unencumbered which widens our cost advantage as interest rates and leasing costs continue to rise for competitors. Net debt at 31 Dec. was €0.96bn (from €1.45bn at 31 Mar.), despite €1.27bn capex. Our focus over the coming year is the repayment of €1.60bn of maturing bonds (€850m in Mar. and €750m in Aug.) and funding peak capex while aiming to return our balance sheet to a broadly zero net debt position by April 2024.
OUTLOOK:
While bookings continue to be closer-in than in spring 2020 (pre-Covid), we have reasonable visibility for the remainder of FY23, with FY traffic guided at 168m. Ryanair expects Q4 to be loss making due to the absence of Easter from March. As announced on 4 Jan., we are guiding FY23 PAT (pre-exceptionals) in a range of €1.325bn – €1.425bn (previously €1.00bn – €1.20bn). This guidance remains heavily dependent upon avoiding adverse events in Q4 (such as Covid and/or the war in Ukraine).”
[1] Sustainalytics – a leading independent ESG & corporate governance research, ratings & analytics firm.
[2] Science Based Targets initiative – a collaboration between CDP, the United Nations Global Compact, World Resources Institute & the Worldwide Fund for Nature. It helps companies to set emission reduction targets in line with climate science & the Paris Agreement goals.
Top Copyright Photo: Ryanair Boeing 737-800 WL EI-GXL (msn 44857) BFI (Brian Worthington). Image: 959711.
Flyr informed Oslo Børs on Monday morning that the company has not been successful with its new financing plan. The company is thus in a serious financial situation, and the board will assess whether there are alternatives for continued operation.
Monday’s flights to Malaga, Alicante and Las Palmas are operating as normal. The company has no scheduled flights on Tuesday and information about future flights will be shared as soon as possible on www.flyr.com .
Reference is made to the stock exchange announcement by Flyr AS on November 10,2022 regarding (i) the successfully placed private placement of 25,000,000,000 new shares with a subscription price of NOK 0.01 to raise gross proceeds of NOK 250 million (the “Private Placement”), (ii) the subsequent offering of up to NOK 100 million with a subscription price of NOK 0.01, and (iii) the allocation of independent subscription rights with a subscription price of NOK 0.01 to participants in the Private Placement and the subsequent offering to raise up to NOK 350 million (together, the “November Financing Plan”).
In connection with the Private Placement the Company communicated that it was dependent on raising further capital from the November Financing Plan by the end of Q1 2023 to pay the Emission Trading System quotas (EU ETS) in April 2023 and to ramp-up for the coming spring and summer based on the Company’s business plan and market assumptions.
Following completion of the Private Placement the share price of the Company has traded considerably below the subscription price of the November Financing Plan, which meant that succeeding with the November Financing Plan became increasingly unlikely. As such, the Company had to consider alternatives to secure its financial needs.
The Company’s management and board of directors have worked intensively to achieve a viable long-term solution for the Company’s operations, which would strengthen the business plan of the Company and increase the chances to raise the necessary liquidity to sustain operations. In cooperation with its financial advisors, the Company has explored a number of different alternatives, including increased wet lease operations and other strategic alternatives.
Due to the global shortfall in available aircraft, the Company experienced stronger than expected demand for wet lease and charter operations. In mid-December 2022 the Company initiated discussions with a European airline regarding a wet lease arrangement for the production of 6 aircraft for the summer season 2023, with commencement at the end of March 2023. A wet lease agreement for 6 aircrafts with a reputable partner would considerably de-risk the business case and improve the chances of succeeding with a new financing plan.
The commercial terms of a wet lease agreement for 6 aircraft with a European airline was agreed in principle on 23rd December 2022, but due to the uncertainty of the November Financing Plan, signing of the agreement was made conditional on the Company securing further financing.
The evaluation done by the Company and its financial advisors was that this wet lease agreement, which would have secured the income and a profitable operation for 50% of the Company’s fleet for the entire period from the end of March to the end of October 2023, would significantly increase the probability of successfully implementing a new financing plan to replace the November Financing Plan that at this point appeared unlikely to succeed.
In order to be ready to perform its obligations under the wet lease agreement commencing in March 2023, the Company had to reverse some of the liquidity preserving measures it had planned and implemented, as the wet lease agreement was considered instrumental in securing the new financing plan that would address both the short term and long-term funding requirements of the Company.
After discussions with the Company’s financial advisors Arctic Securities AS, Carnegie AS and SpareBank 1 Markets AS (the “Managers”) the Company authorised the Managers to seek to establish an underwriting consortium for a rights issue to raise up to NOK 330 million, to fulfil the conditions for signing of the wet lease agreement and replenish the company’s cash position.
In spite of the de-risking of the investment case, and the support from several key shareholders, the Managers have not yet been able to raise the sufficient market underwriting, even though a rights issue would be expected to take place at a discount to the theoretical ex-rights share price following the capital raise. Market conditions and continued uncertainty with regards to airline travel and earnings through 2023 have deterred investors from committing capital for the required period of time, in spite of the Company’s wet lease opportunities and improving tickets sale. Underwriting, or the support for a private placement, has been sought on a confidential basis, since a non-underwritten share issue would have been insufficiently robust given the Company’s short term financial commitments. Due to the unsuccessful process to underwrite a rights issue or carry out a private placement, the Company is now in a critical short term liquidity situation.
The Company and the Board will continue its efforts to explore solutions for the Company, including exploring whether there are feasible alternatives to secure continued operations, and will revert with further information as and when appropriate. There is, however, no guarantee that a solution that would create a meaningful shareholder value for the current shareholders will be found.
Route Map:
Top Copyright Photo: Flyr Boeing 737-8 MAX 8 LN-FGH (msn 43354) OSL (Tony Storck). Image: 959534.
Lynx Air (Lynx) launched its inaugural flight to the United States on January 27, departing from Toronto Pearson International Airport (YYZ) and arriving at the new Terminal C at Orlando International Airport (MCO).
Lynx Air CEO, Merren McArthur is joined by Greater Toronto Airports Authority VP of Stakeholder Relations and Communications, Karen Mazurkewich for an official ribbon cutting celebration at Toronto Pearson Airport.
Photo Credit Peyton Stikeleather (CNW Group/Lynx Air)
The airline will operate four nonstop flights per week between Toronto and Orlando, flying brand-new Boeing 737-8 MAX aircraft.
Lynx’s US network will continue to expand over the next few weeks, with the planned launch of services out of Calgaryto Phoenix, Los Angeles, and Las Vegas. In total, Lynx will be operating over 5,000 seats to and from the US, giving Canadians an affordable option to visit some of the most popular sun destinations south of the border.
Lynx’s US schedule:
Flight No.
Effective Date
Frequency
DepartureStation
ArrivalStation
Y9 605
27-JAN-23
MON-WED-FRI-SUN
YYZ
MCO
Y9 705
27-JAN-23
MON-WED-FRI-SUN
MCO
YYZ
Y9 617
07-FEB-23
TUE-THU-SAT
YYC
PHX
Y9 712
07-FEB-23
TUE-THU-SAT
PHX
YYC
Y9 615
16-FEB-23
TUE-THU-SAT
YYC
LAX
Y9 702
16-FEB-23
TUE-THU-SAT
LAX
YYC
Y9 601
24-FEB-23
MON-WED-FRI-SUN
YYC
LAS
Y9 702
24-FEB-23
MON-WED-FRI-SUN
LAS
YYC
Top Copyright Photo: Lynx Air (Canada) Boeing 737-8 MAX 8 C-GJSL (msn 43312) YVR (Brian Worthington). Image: 959990.
