Category: Frequent Flyer News (Page 10 of 59)

Finnair acquires six leased aircraft & repays part of pension loan

December 19, 2023 / WIL BALDWIN

Finnair Oyj (Helsinki: FIA1S) executed a rights issue of 570 million euros in November 2023. Thanks to the strengthened balance sheet and cash funds resulting from the rights issue, Finnair has now purchased six previously leased A321 aircraft from BOC Aviation. Finnair will spend in excess of 200 million euros on the transaction, and its positive impact on both profit before taxes and cash flow will be in excess of 20 million euros per year over the next few years.

Finnair has also repaid an additional tranche of 120 million euros of its 600-million-euro pension premium loan in December in addition to the previously planned 100-million-euro instalment. The December instalment, including interest, totals approximately 230 million euros, after which the remaining loan amount is 280 million euros, to be repaid during May 2025 at the latest. The impact of the additional loan repayment of 120 million euros on profit before taxes will be approximately 3 million euros in 2024 in the form of lower net interest costs.

In connection with the rights issue announcement in autumn 2023, Finnair supplemented its financial targets, which were based on the assumption that e.g. the company’s cash to sales ratio would remain at 30 per cent over time. As a result of the aircraft purchases and the loan repayment, Finnair’s cash to sales ratio is close to but still exceeds the target of 30 per cent.

These measures are a part of Finnair’s strategy implementation and support reaching financial targets by the end of 2025. In addition, these measures will contribute to reaching Finnair’s target of reinstating shareholder distributions, based on the 2024 result, starting from spring 2025.

Forward-Looking Statements

This press release may contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.

easyJet orders additional Airbus A320neo family aircraft

December 19, 2023 / WIL BALDWIN

Toulouse, France, December 19, 2023 – EasyJet PLC (London: EZJ) has confirmed a firm order for an additional157 Airbus Group SE (Paris: AIR) A320neo Family aircraft following shareholder approval. The firm order comprises 56 A320neo and 101 A321neo aircraft, and also includes the upsizing of an existing order for 35 A320neo into the larger A321neo. The agreement is part of easyJet’s fleet renewal and upgauging plan and is also bringing substantial sustainability improvements to its business.

Forward-Looking Statements

Lufthansa Group to buy up to 100 Boeing 737 MAX jets

December 19, 2023 / WIL BALDWIN

Seattle, Washington, December 19, 2023, PRNewswire – Boeing (NYSE: BA) and the Deutsche Lufthansa AG (Xetra: LHAG) today announced a landmark 737 MAX order for up to 100 jets that will see Europe’s largest airline group restore the Boeing 737 family into its fleet. The commitment includes a firm order for 40 737-8 airplanes with 60 options.

Boeing’s ongoing commitment to support the sustainability goals of its airline partners is reflected in the 737 MAX’s efficient design. The 737 MAX reduces CO₂emissions by 20% and has a 50% smaller noise footprint compared to older generation airplanes. 737-8 will help the Lufthansa Group meet those sustainability targets with significant improvements in fuel use, emissions, and community noise impacts, all while reducing costs for the airline.”

Lufthansa launched the Boeing 737 in 1967, taking delivery of the first of 146 737s until its final delivery of a 737-300 in 1995. The airline retired its last 737 in 2016 as it started its group wide fleet modernization program. The Lufthansa Group has placed a series of wide-body orders in recent years to accelerate replacement of older airplanes. Its current backlog include firm orders for 34 787 Dreamliners, seven 777-8 Freighters and 20 777-9 airplanes.

Forward-Looking Statements

Air Corsica adds two additional ATR 72-600 to regional fleet

December 18, 2023 / WIL BALDWIN

Toulouse, France, December 18, 2023 –ATR, the world number one regional aircraft manufacturer, and Air Corsica have confirmed a firm order for two more ATR 72-600 aircraft. Air Corsica has completed the full transition of its fleet of ATR -500 series to the latest generation of turboprop aircraft from its order initially at the Paris Air Show.

The two aircraft are scheduled for delivery in the first half of 2024, at which time Air Corsica will have fully harmonised its regional fleet. The airline will have seven ATR 72-600 aircraft, powered by the latest PW127XT engines, optimising the reliability, comfort, operating costs and CO2 emissions of its connecting flights between Corsica’s four airports and Nice and Marseille and providing a high-quality public service.

Air Corsica was the first operator to take delivery of an ATR 72-600 equipped with the new PW127XT engine at the end of 2022, which brought a 20% reduction in maintenance costs and at least a 3% reduction in fuel consumption compared with the PW127M. It generates CO2 emission savings of 45% compared with a similar-size regional jet, demonstrating its commitment to operational excellence, regional connectivity and sustainability.

Eve Air Mobility hosts customer advisory board

December 18, 2023 / WIL BALDWIN

Melbourne, Florida, December 18, 2023 – Eve Air Mobility (NYSE: EVEX) held its Customer Advisory Board meeting last week at its headquarters in Melbourne, Florida. Customers and partners from 12 companies and nearly every continent came together to discuss the aircraft, operations, ecosystem readiness and services and solutions.

Eve’s Customer Advisory Board includes a wide variety of operators including fixed-wing and rotorcraft operators and lessors, all with the objective of co-creating the Urban Air Mobility (UAM) ecosystem. The discussions included optional items and vehicle configuration and passenger cabin experience. In addition, attendees also received a program and product update from Eve´s leadership.

Eve also took the opportunity to highlight its worldwide sales and support network which includes a broad customer support infrastructure. Eve’s customers will also benefit from Embraer’s global service and support network which includes 10 existing services centers and 66 third-party service centers around the world.

Forward-Looking Statements

Japan Air Lines launches web page to celebrate 70 years

December 17, 2023 / WIL BALDWIN

Tokyo, Japan – Japan Airlines Co Ltd (Tokyo: 9201) will commemorate the 70th anniversary of its first international flight on February 2, 2024. As the first Japanese airline to operate scheduled international flights, JAL has contributed to the exchange and trade of people and cultures between Japan and the world. And with its current extensive international network connecting 376 airports in 64 countries/regions, JAL is proud to serve a truly diverse mix of international customers.

To honor the memorable connections and stories created over the past 70 years, JAL is launching a special web page. Additionally, as a token of appreciation to its valued customers around the world, JAL is pleased to announce the launch of a special one month free in-flight Wi-Fi campaign on all international flights to celebrate the historic milestone.

【Specific Initiatives】
1. Launch of a Special Web page to Celebrate JAL’s 70th Anniversary of International Flights
A special web page will be launched on the JAL corporate website to celebrate the airline’s history and provide a digital destination for history enthusiasts to enjoy highlights, memories and stories covering the past 70 years of JAL’s international flight service. This page will include memorable stories from the past 70 years and the history of 70 years of international flight service.

2. Free Wi-Fi Campaign on International Flights
Introducing a special campaign for the first time, JAL will be offering complimentary Wi-Fi service on all international routes.
(1) Eligible travel period: Thursday, February 1 to Thursday, February 29, 2024
(2) Eligible routes/flights: All JAL-operated international flights (excluding code-share flights operated by other carriers).
*Details regarding the campaign, such as application procedures and instructions for connecting onboard, will be announced on the dedicated website at a later date.

Special Web page to Celebrate JAL’s 70th Anniversary of International Flights:
https://www.jal.com/en/jal-int-70th

Forward-Looking Statements

Virgin Australia is pleased to have reached in-principle cabin crew agreement

December 17, 2023 / WIL BALDWIN

Virgin Australia is pleased to have reached an in-principle agreement with the FAAA and TWU on the Cabin Crew Enterprise Agreement. This is great news for our teams and our customers.

Under the new Enterprise Agreement, cost of living pressures will be easier for crew to manage, and lifestyle challenges will be easier to navigate. The agreement will deliver 15%+ salary increases over three years, depending on the skill and tenure of the crew member.

And the overall cost of this agreement is in line with the agreements we have reached with other work groups. Today’s outcome is the result of constructive negotiations with both unions, and facilitated by the Fair Work Commission. It will ensure our people are appropriately rewarded for their work and that Virgin Australia is set up for long-term success.

Air Canada adds Tulum and Charleston to route network

December 15, 2023 / WIL BALDWIN

Montreal, Quebec, Canada, December 14, 2023, CNW – Air Canada (Toronto: AC) today announced it is boosting its North American network capacity for summer 2024 with the addition of two new destinations, five new routes, increased flight frequencies on key routes, and earlier resumption of popular seasonal routes in response to projected demand. Air Canada becomes the first Canadian airline to offer service to Tulum*, with flights from Toronto and Montreal to the newest airport in Mexico’s Yucatan peninsula, and to Charleston, SC from Toronto. Seats are now available for purchase at aircanada.com, via the Air Canada app, Air Canada’s contact centres and through travel agents. Flights to Tulum will be available for sale on December 15.

*subject to government approval

For summer 2024, Air Canada will be serving 120 destinations in Canada, the US and the Caribbean with up to 520 flights every day, translating to approximately 66,000 seats being dispatched, representing an increase of 5% percent North America and Caribbean seat capacity from 2023.

New destination: Tulum*, Mexico

“I celebrate this great announcement from Air Canada. Without connectivity there is no tourism, and the two new routes to the new Tulum International Airport, which is ready to receive five million passengers, will boost the arrival of tourists from our second most important source market for international tourists,” stated Lic. Miguel Torruco Marqués, Secretario de Turismo, Mexico.

Flight	From	To	Departs	Arrives	Days of Operation	Operation
AC1854	Toronto (YYZ)	Tulum (TQO)	08:15	11:20	Fri, Sun	Year-round, begins May 3
AC1855	Tulum (TQO)	Toronto (YYZ)	12:30	17:35	Fri, Sun	Year-round, begins May 3
AC1874	Montreal (YUL)	Tulum (TQO)	08:15	12:00	Sat	Year-round, begins May 4
AC1875	Tulum (TQO)	Montreal (YUL)	13:10	18:45	Sat	Year-round, begins May 4

New destination: Charleston, SC

“Charleston International Airport is delighted to welcome the addition of Toronto as an international destination, made possible by the introduction of Air Canada’s daily flights providing a seamless link between Canada’s largest metropolitan area and the Charleston Lowcountry. Not only does the new service connect two of the top cosmopolitan destinations worldwide, renowned for their extraordinary landmarks, rich culture, entertainment and leisure adventures, this route offers customers unmatched travel options and conveniences, whether travelling for leisure, visiting friends and family, or for business,” said Elliott Summey, Executive Director and CEO at Charleston International Airport.

“Air Canada’s announcement is a major milestone for our industry, the Charleston region and beyond. International visitation is integral to a healthy and sustainable tourism economy. While Canada is consistently our top country of origin for international visitors, we know there is tremendous untapped potential in the market. Beyond increasing access for leisure travelers, the daily, nonstop service creates more opportunity to recruit group business and provides improved connectivity for Charleston area residents traveling to Canada and other international destinations served through Air Canada’s Toronto hub,” said Helen Hill, CEO of Explore Charleston and Chair of the Aviation Authority Board.

Flight	From	To	Departs	Arrives	Days of Operation	Operation
AC8629	Toronto (YYZ)	Charleston (CHS)	18:40	20:58	Daily	Year-round, begins March 28
AC8628	Charleston (CHS)	Toronto (YYZ)	10:00	12:21	Daily	Year-round, begins, March 29

Forward-Looking Statements

Turkish Airlines to become largest operator of Rolls-Royce Trent XWB engines

December 15, 2023 / WIL BALDWIN

Rolls-Royce Holdings PLC (LSE: RR, ADR: RYCEY) today announces Turkish Airlines will order 100 Trent XWB-84 engines and 40 Rolls-Royce Trent XWB-97 engines. This will make Turkish Airlines the world’s largest operator of Trent XWB engines.

The Trent XWB-84 powered A350-900’s, Trent XWB-97 powered A350-1000’s and Trent XWB-97 powered A350F will be delivered between 2025 and 2033. The engines health and maintenance will be covered by the Rolls-Royce comprehensive TotalCare service.

This substantial order will complement the airline’s existing fleet, adding to the 40 Rolls-Royce Trent XWB-84 A350-900’s already in service and on order, and 26 Trent 700 powered A330’s.

Forward-Looking Statements

Virgin Atlantic increases capacity to the USA for summer 2024

December 15, 2023 / WIL BALDWIN

Virgin Atlantic is delighted to announce plans to increase capacity to its heartland in the USA, adding frequencies from London Heathrow to both New York JFK and Boston for summer 2024. These new services complement the airline’s recent announcements of increasing Miami services from 11 flights per week to twice daily year-round and a new seasonal summer service from Manchester to Las Vegas.

Next summer, the airline will offer a record number of flights between London and New York, with a seventh daily flight to JFK, and together with Joint Venture partner Delta, will offer ten daily services to the Big Apple, an increase of 11% compared to summer 2023.

In a further boost to its East Coast flying, Virgin Atlantic will also operate a second daily flight to Boston. Complementing Delta’s daily service, Boston will be served with three flights a day.

Customers on both Virgin Atlantic departures will experience flying on the airline’s newest aircraft, the A330-900neo, and A350-1000, increasing the number of Upper and Premium seats by 23%. Upper-Class passengers looking to treat themselves can also benefit from booking the A330-900neo innovative Retreat Suite, which comprises of two spacious exclusive suites at the front of the Upper Class cabin. Elsewhere, passengers travelling with Joint Venture partner Delta will be able to enjoy its new and enhanced Delta One product.*

*There may be occasions that some ad-hoc Boston and New York services are substituted for an alternate aircraft type.

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