Aeromexico sees big jump in Q3 operating profit
October 21, 2022
The parent company of Aeromexico made an operating profit of Ps2.02 billion ($100 million) during the third quarter, an improvement of Ps1.7 billion compared to the same period in 2021. Revenue grew 62% year on year to Ps21.4 billion, while revenue per available seat-kilometres (ASK) was up by 23%, Grupo Aeromexico states. Capacity was increased by 31% year over year, primarily driven by the sequential recovery in domestic and international markets. Cost per ASK, excluding fuel, was $0.045, a decrease of 13% compared to the same period of 2021. As of 30 September, the group's cash position stood at Ps15.4 billion. Excluding restricted cash, cash balance amounted to Ps14.7 billion. Aeromexico ended the quarter with an operating fleet of 141 aircraft, 19 more compared to the third quarter of 2021.
Former TAP chief to lead Etihad
October 20, 2022
Abu Dhabi's Etihad Aviation Group has appointed Antonoaldo Neves as chief executive, replacing Tony Douglas, who is departing the company. Neves is a former chief executive of TAP Air Portugal, where he led a major turnaround, and before that served as president of Brazilian carrier Azul. In a prior role as a partner at McKinsey, he developed a long-term plan for the development of Brazil's aviation sector. Douglas has served as Etihad group chief executive since January 2018, spearheading a transformation project by cutting costs and revamping the airline's network, resulting in a first-half 2022 operating profit of $296 million. He has decided to depart in order to pursue "an opportunity elsewhere", according to Abu Dhabi sovereign wealth fund ADQ, to which ownership of Etihad Aviation Group has been transferred from the emirate's government. During a transition phase, Douglas will remain an adviser to the board of ADQ Aviation and Aerospace Services Company. A date for Neves to take over has not been disclosed. "Tony has led Etihad through some of its most challenging times and has successfully turned the airline into a profitable and sustainable business over the past five years as part of its initial transformation programme," states Etihad group chairman Mohammed Ali Al Shorafa. "As we’re entering our next phase of sustainable growth, we are confident that Antonoaldo will build on Tony's legacy." Douglas states that despite the "unprecedented challenges" faced by the industry over recent years, the company has now been placed on a sustainable path for the future.
Flydubai expands 737 support deal with AAR
October 20, 2022
Flydubai on 19 October announced a new multi-year flight-hour component support contract with AAR, expanding its relationship with the airline to include additional aircraft in its Boeing 737 Max fleet. AAR will grow its onsite team and work alongside Flydubai to ensure real-time decision making and seamless interaction throughout the duration of this contract, the US maintenance provider says.The inventory for this programme will be located in Dubai. Flydubai operates a single fleet-type of 68 737s that includes 32 737-800s, 33 Max 8s and three Max 9s. It is expected to take delivery of 11 Max aircraft by the end of 2022 as it continues to retire 737NGs. AAR began supporting Flydubai's flagship fleet of 737 Max in 2017 and signed a contract extension for its 737NG fleet in 2021.