Air France-KLM boosts third-quarter profit
October 30, 2023
Air France-KLM has reported a third-quarter operating profit of €1.34 billion ($1.41 billion), up 32% year on year. Revenue rose 7% to €8.66 billion, driven by "strong" summer demand, says the group. Net income more than doubled to reach €931 million. The operating result was, Air France-KLM adds, supported by increase in capacity, higher passenger load factor and continued high passenger yield which enabled the group to offset inflation and decreasing cargo revenue. Air France's operating profit came in at €806 million, and KLM's at €539 million. The French flag carrier's revenue was up 7% at €5.37 billion, and KLM's 6% at €3.42 billion. Transavia's operating profit increased by €65 million to reach €188 million. The group's maintenance business boosted operating profit by €17 million to €63 million. However, cargo revenue declined 33% to €558 million. Cargo capacity was raised nearly 3%, but traffic increased by only 0.1 of a percentage point. The group carried around 27 million passengers during the third quarter, up nearly 8% year on year. Capacity was lifted 6% and traffic rose 8%. Thus the passenger load factor increased, by 1.3 percentage points to 89.7%. Air France-KLM expects fourth-quarter and full-year capacity to, respectively, exceed and match 95% of 2019 levels. The group ended the third quarter with €6.48 billion in cash and equivalents.
Finnair to renew Embraer cabins
October 26, 2023
Finnair plans to refurbish the interiors of 12 Embraer 190s used on regional routes and operated by Nordic Regional Airlines. The upgrade will take place in 2024-25, with the first refreshed aircraft flying by the end of next year. "We want to improve travel comfort and provide our customers with a high-quality travel experience across our route network," states Ole Orver, Finnair's chief commercial officer. "We will bring similar elements and feeling to our Embraer fleet as we have used in our previously redesigned Airbus widebody aircraft." The E190s used on Finnair domestic and European routes are operated by Nordic Regional Airlines but, data shows, managed by Finnair. The aircraft have an average age of 15.3 years. Finnair owns 40% of Nordic Regional Airlines, with the remainder held by Danish Air Transport.
US Senate confirms nominee for FAA chief
October 26, 2023
The US Senate has voted to confirm the nomination of Michael Whitaker as administrator of the Federal Aviation Administration for a term of five years. The Senate's unanimous vote on 24 October gives the FAA its first full-time chief since April 2022. Whitaker is US president Joe Biden's second pick for FAA chief after previous nominee, Denver International airport chief Phil Washington, in late March 2023 withdrew from the confirmation process amid an expected lack of approval votes from a Senate committee. Prior to his confirmation by the Senate, Whitaker was the chief operating officer of electric air mobility vehicle manufacturer Supernal, which is owned by Hyundai Motor Group. Previously he served as deputy administrator for the FAA from 2013 to 2016. Before joining the FAA, Whitaker was group chief executive of IndiGo parent company InterGlobe Enterprises. He also worked at United Airlines for 15 years in a variety of roles, the White House says. The Senate's confirmation of Whitaker could clear the way for the legislative body to approve its own version of the FAA reauthorisation bill that was passed by the House of Representatives on 20 July.