Mesa Air Group made an operating loss of $40.2 million during its third quarter ended 30 June, reversing an operating profit of $213,000 in the year-ago period. The Phoenix-based parent company of Mesa Airlines says it generated $115 million in operating revenue during the quarter, down 15% year on year, while contract revenue decreased 21%. These decreases were primarily driven by a 50% reduction in CRJ-900 block hours and fewer aircraft under contract, partially offset by higher United block-hour rates for new pilot payscales, the group adds. For the quarter, approximately 96% of its total revenue was from contracts with United Airlines. Mesa says total operating expenses grew 16% year on year to $155 million, primarily due to a $30.5 million impairment on assets held for sale. Net loss widened to $47.6 million during the quarter from a loss of $9.99 million during the same period last year. For the nine-month period, operating loss stood at $64.1 million versus an operating loss of $48.5 million in the year-ago period. Operating revenue declined by 5.4% to $384 million, while net loss widened to $91.8 million versus a loss of $67 million. Mesa ended the quarter with $48.3 million in unrestricted cash and equivalents, down from $57.7 million as of 30 September 2022. As of 30 June, the company had $566 million in total debt secured primarily with aircraft and engines.
Mesa chief executive Jonathan Ornstein states: "As expected, fiscal 2023 has been a transformative year as we ended our agreement with American Airlines and transitioned all of our regional capacity to United. One of our key initiatives remains the disposition of excess CRJ-900 aircraft and related assets." "To date, we have entered into agreements to sell 18 excess CRJ-900s, four of which we closed earlier this year, with the remaining 14 expected to close by calendar-year end. We are currently in active negotiations for the sale of additional aircraft," he adds.

Cyprus Airways has appointed Christos Limnatitis as its new chief commercial officer. Limnatitis joins from telecoms operator CYTA, where he has been marketing and sales manager since January last year, according to his LinkedIn profile. He has held various positions at the company since 2015. "We are delighted to welcome Christos Limnatitis as our new chief commercial officer," states Paul Sies, Cyprus Airways' chief executive. "Christos's proven track record in enhancing customer satisfaction and his innovative approach to personalised service will undoubtedly elevate our airline's reputation as a customer-centric industry leader." Cyprus Airways says Limnatitis will shape its overall customer experience, strengthening relationships with passengers and meeting their evolving needs. "I am truly excited to join the Cyprus Airways family," states Limnatitis. "I look forward to working closely with the team to elevate our passengers' experiences, nurture lasting connections with our loyal customers, and attract new travellers to enjoy the unmatched services Cyprus Airways has to offer."

Global traffic as measured by revenue passenger-kilometres rose 31% year on year in June, to 94% of 2019 levels, evidencing a "strong start" to the summer season, according to IATA. The airline association observes ongoing momentum in the recovery from the pandemic, citing growth across all regions of the world. Domestic traffic was up 27%, and 5.1% above June 2019. The recovery in international markets reached 88%, a year-on-year increase of over a third. "The northern summer travel season got off to a strong start in June with double-digit demand growth and average load factors topping 84%. Planes are full which is good news for airlines, local economies, and travel and tourism dependent jobs. All benefit from the industry's ongoing recovery," states IATA director Willie Walsh. The association's data shows that the recovery in international markets has been fastest in Asia-Pacific over the past year, with RPKs more than doubling on 2022. Next is Africa, up 35%, and the Middle East, up 29%. "As strong as travel demand has been, arguably it could be even stronger. Demand is outrunning capacity growth," adds Walsh. "Well-documented problems in the aviation supply chain mean that many airlines have not taken delivery of all the new, more environmentally friendly aircraft they had expected, while numerous aircraft are parked awaiting critical spare parts. "And, for the fleet that is in service, some air navigation service providers (ANSPs) are failing to deliver the requisite capacity and resilience to meet travel demand."