​Qatar Airways posts record net profit
July 03, 2024
Qatar Airways has announced net profits of QR6.1 billion ($1.7 billion) for the year to end-March, up from QR4.4 billion a year before, as it continued to bounce-back from the pandemic. Revenues surged by QR4.7 billion to QR81 billion, with passenger numbers rising by over a quarter to more than 40 million and load factors reaching 83%. During the previous 12 months, the airline had carried 31.7 million passengers, a 71% increase on 2021/22. The Doha-based airline states that the growth in travellers is the result of a continuing “rebound from the recent challenges facing the global travel industry”. Over the course of the 12 months, Qatar Airways resumed operations to 14 destinations, mostly in Asia, plus added seven new links, including three in Saudi Arabia and two in France. That brought its network to more than 170 routes in total. Meanwhile, an EBITDA margin of 24% reflects “the business’s continued focus on customer experience, innovation, digitalisation and sustainability, resulting in streamlined, agile and fit-for-purpose operations across all areas,” it continues.
“These very strong financials are a testament to the ambition and clear direction that has informed the Qatar Airways Group’s progress throughout the 2023/24 financial year,” comments chief executive Badr Mohammed Al-Meer. “Our continued focus on profitability, efficiency and customer experience have been underpinned by a strategic programme of network growth and fleet expansion, resulting in the highest revenues and profit margins in the history of the airline.”

​SAA and Gol reinstate codeshare agreement
July 02, 2024
South African Airways (SAA) and Brazilian carrier Gol have reactivated their codeshare agreement, which was suspended during the Covid-19 pandemic. The agreement, effective immediately, connects major cities like Johannesburg, Cape Town, Durban, and Gqeberha in South Africa with Rio de Janeiro and over 20 Brazilian destinations, the South African flag carrier says. SAA can add its code to Gol-operated flights within Brazil, while Gol customers gain access to key South African cities. In the future, SAA plans to expand the agreement to cover 60 additional Latin American and African destinations. The move aligns with SAA's recent launch of direct flights to Sao Paulo in Brazil and Perth in Australia, marking its return as an intercontinental service provider. Chief commercial officer Tebogo Tsimane states: "The reinstatement of the codeshare agreement affirms Brazil’s status as a strategically important destination for South Africa. It connects two major economies in the southern hemisphere to enable leisure tourism, and to facilitate business, networking, and trade."

Alaska sells door-plug-blowout Max 9 back to Boeing
July 02, 2024
Alaska Airlines has entered into a purchase agreement with Boeing for the 737 Max 9 that was involved in the January 2024 door-plug incident. "They have taken possession of it and the registration has been changed. It is no longer part of our fleet," Alaska says, referring to the aircraft bearing MSN 67501 and registration N704AL. Asked how much Boeing paid it for the widebody, Alaska says the "financial details of the agreements are confidential". In May, the airline received $61 million in supplier credit memos from Boeing to be used on future purchases. The receipt of those funds represented the latest compensatory move taken by the airframer on behalf of Alaska following the door-plug blowout event. During the first quarter of this year, Boeing paid Alaska $162 million in cash compensation for the financial damage incurred as a result of the Max 9 grounding. The Seattle-headquartered airline adds that it has placed an order for a new Max 10. Alaska is one of the biggest customers for the Max 10, behind United Airlines, Ryanair, Delta Air Lines, VietJet Air, WestJet and Lion Air.


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