The budget airline Norwegian has confirmed it was has entered into an agreement to lease two Boeing 737 MAX 8 aircraft that have been declined by other airlines.
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The International Air Transport Association (IATA) released October 2021 data for global air cargo markets showing that demand continued to be well above pre-crisis levels and that the capacity constraints have eased slightly. “October data reflected an overall positive outlook for air cargo. Supply chain congestion continued to push manufacturers towards the speed of air cargo. Demand was up 9.4% in October compared to pre-crisis levels. And capacity constraints were slowly resolving as more passenger travel meant more belly capacity for air cargo. The impact of government reactions to the Omicron variant is a concern. If it dampens travel demand, capacity issues will become more acute. After almost two years of COVID-19, governments have the experience and tools to make better data-driven decisions than the mostly knee-jerk reactions to restrict travel that we have seen to date. Restrictions will not stop the spread of Omicron. Along with urgently reversing these policy mistakes, the focus of governments should be squarely on ensuring the integrity of supply chains and increasing the distribution of vaccines,” said Willie Walsh, IATA’s Director-General.
Economic conditions continue to support air cargo growth but are slightly weaker than in the previous months. Several factors should be noted:
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Leading Russian airline Aeroflot has just released its latest results for the third quarter and once again the crunched numbers demonstrate the massive progress the carrier has made in recent months.
The Aeroflot Group recorded a quarterly profit – the first in two years – of RUB 11.6 billion, a major step forward and a clear indication of the way Russian air travel has bounced back.
Key financial highlights
Q3 2021 | 9M 2021 |
Revenue doubled year-on-year to RUB 167,072 million | Revenue increased by 54.7% year-on-year to RUB 362,220 million |
EBITDA totalled RUB 54,052 million | EBITDA totalled RUB 95,635 million |
Net profit was RUB 11,635 million | Significant reduction in net loss to RUB 16,102 million |
Andrey Chikhanchin, PJSC Aeroflot’s Deputy CEO for Commerce and Finance, said:
”Our results for the third quarter once again underscore the progress that Aeroflot Group has made in 2021. Continuing the consistent improvement in our financial performance over the past several quarters, in the reporting period Aeroflot Group recorded a quarterly profit – the first in two years – of RUB 11.6 billion.
“A significant contribution to the improvement in our financial results came from increased demand and the resulting growth in operational volumes of Russian domestic flights, which we doubled down on in the high season. During the third quarter, Aeroflot’s passenger numbers on the domestic market were 27.4% higher than the same period in 2019 (before the COVID pandemic). We also took maximum advantage of the gradual lifting of restrictions in the international segment, and this also had a significant positive impact on the results. Whereas our capacity on international flights in January of this year was at just 15.4% of the level of the same period in 2019, by September this metric had recovered to 43.1%.
“This recovery in flight volumes supported growth in revenue, which reached RUB 167.1 billion in the third quarter. EBITDA, which had turned positive in the first quarter of this year, also continued to grow and reached RUB 54.1 billion for the third quarter of 2021, 2.7 times higher than in the same period of 2020. The EBITDA margin was 32.4%, which is comparable with our pre-pandemic performance, given the impact of the pandemic and the resulting restrictions on forward booking timeframes, profitability in the domestic segment and load factors.
“As of the end of the reporting period, Aeroflot Group had cash and short-term financial investments totalling RUB 93.3 billion. The seasonal reduction compared to June is due to our fulfilment of commitments to passengers under bookings made before the start of the summer season, and is comparable with historical trends. Aeroflot Group is entering the new season, when cash burn traditionally increases, with a high level of reserves. We intend to maintain strict control over management of cost lines to maintain financial resilience through to the start of the next seasonal cycle of increased sales and reservations and positive cash flow.”
AUGUST 2021–OCTOBER 2021
SIGNIFICANT EVENTS DURING THE QUARTER
SIGNIFICANT EVENTS AFTER THE QUARTER
NOVEMBER 2020–OCTOBER 2021
Defence Secretary Ben Wallace said: "This agreement will deliver a step change in our defence co-operation with Poland and paves the way for our militaries to operate even more closely.Minister BÅ‚aszczak and I look forward to seeing the GBAD partnership develop.Britain and Poland have historically stood side by side against a range of threats and will continue to deepen our partnership."
Chris Allam, Managing Director MBDA UK: "MBDA is delighted to be playing such a leading role in the UK-Poland Defence partnership. This agreement endorses the deep relationship we have formed with Poland’s Ministry of National Defence and Polish Industry and is underpinned by the nature of our unprecedented technology co-operation and transfer proposal for NAREW and Polish Air Defence.In choosing MBDA, and the CAMM family, Poland will receive the benefits of a true European missile partnership, the latest capabilities, and the ability to secure and develop highly skilled jobs in its defence industry. We thank Poland for the trust placed in us and we look forward to delivering this programme in co-operation with PGZ."
JetBlue has confirmed as part of its as JetBlue For Good Month is donating two million TrueBlue points to a number of key charities. New York's hometown airline is also encouraging its customers to join the effort to give back by donating their TrueBlue loyalty points to help these nonprofits continue their important work. TrueBlue members can donate points to JetBlue’s longstanding partners including Make-A-Wish®, Miles4Migrants and The DREAM Project, among other causes.
TrueBlue members are invited to go online to donate their unused TrueBlue points by visiting trueblue.jetblue.com/donate-points. Members may choose from a list of selected charities to which to donate points, highlighting causes that may be important to them. Each charity can put the points to work for travel necessary to advance its mission.
“JetBlue For Good Month is not only a time to focus on giving back, it serves as a reminder of what JetBlue with our 21,000 crewmembers does all year round,” said Icema Gibbs, vice president, corporate social responsibility and diversity, equity and inclusion, JetBlue. “Since our beginning, JetBlue has been committed to giving back to the communities where we work and serve. With the pandemic disrupting so much over the last 21 months and so much on pause, we’re grateful these worthy organizations have been able to persevere in the face of adversity. We’re proud that JetBlue’s crewmembers and customers are a part of the effort.”
easyJet will continue to offer protections under its ‘Protection Promise’ policy in 2022‘Freedom to Change’ policy will be extended to 31 March 2022, meaning customers can continue to change their flights fee free‘Travel Restriction Protection’ will remain in place until 31 December 2022 so should a trip be impacted by a lockdown travel ban or mandatory hotel quarantine customers can receive a refund for their flights, even if they are still operatingAll easyJet holidays also continue to be covered by its Protection Promise until further notice
From 30 November – 18 December, the much-awaited tournament will serve as an opportunity to show Qatar’s preparedness ahead of FIFA World Cup Qatar 2022™
Privilege Club members can earn double the Qmiles by booking a custom-made tournament package, inclusive of return flights, match tickets and accommodation
The airline is launching its first ever, limited-edition advent calendar featuring festive travel treats· Dubbed the ‘Advent(ure) Calendar’ it is created for adventurous travellers who want more experiences in 2022, the calendar features 12 drawers each containing a travel gift – including four pairs of return flights for two, a year’s easyJet plus membership worth £215, travel experience vouchers with GetYourGuide, car hire and Bistro vouchers to spend onboard· Retailing for £695, with a RRP value of over £1500, the limited run of calendars is on sale online from Friday 26th November 2021 – with all proceeds going to Age UK· The launch of the calendar comes following research that reveals nearly two-thirds (65%) of Brits are yearning for adventure in 2022 now that international travel is returning to normal.