The UK government has launched an independent review of the Civil Aviation Authority to ensure that the body can provide “world-leading regulation and public services for decades to come”. It will examine the CAA’s capacity to drive modernisation and innovation in the sector while protecting consumer rights, and is part of a wider review of government agencies to examine their performance. The CAA’s remit includes aviation safety and security, the efficient use of airspace, space operations and protecting consumer rights. “Civil aviation regulation is the lynchpin of an industry which pre-pandemic carried millions of passengers every year, contributed £22 billion ($25.6 billion) to our economy and supported nearly one million jobs,” says transport secretary Grant Shapps. “This review will ensure UK civil aviation regulation continues to be world-leading on safety, security, environmental considerations, economic regulation and consumer protection – which often supports other countries in driving up global standards.” It will run in parallel, but entirely separate to, the International Civil Aviation Organisation safety audit due to take place. Jeremy Newman, an independent panel member at the UK’s Competition and Markets Authority, will lead the process, which will run until spring 2023. The CAA has faced industry criticism in recent months over the setting of airport charges, particularly at Heathrow. The facility had argued that its charges, already the highest in the world, should be increased further, drawing outrage from airlines. A preliminary decision made in June will now see charges at Heathrow cut through to 2026. The CAA is also consulting on a post-Brexit shake-up of passenger compensation legislation which could include cash payments for customers who experience delays of as little as one hour on domestic flights – albeit at a relatively low level. This would be expected to reduce the overall compensation bill for airlines.

Taiwan's China Airlines has placed an order with Boeing for 16 787-9 aircraft, to replace its Airbus A330-300 fleet. The carrier discloses in a 30 August notice to the Taiwan Stock Exchange that it has ordered the 16 widebodies "to replace [its] ageing fleet and to improve operating efficiency". China Airlines revealed earlier this year that it was "exploring" the possibility of replacing its A330-300 fleet. Data shows that the carrier has 22 A330-300s, four of which are listed as being in storage. Most of the aircraft are leased. Its widebody passenger fleet also includes 14 A350-900s and 10 777-300ERs.

Ryanair will not seek to hedge more than 50% of its fuel needs in 2024 on the likelihood that setbacks for the Russians in their invasion of Ukraine and a looming global recession will push down future oil prices, its group chief executive Michael O' Leary has disclosed. Speaking during a media event in London on 30 August, O'Leary suggests that the oil price could "collapse" in the coming months if there are indications of a resolution in the Russian invasion of Ukraine, while possible recessions in China, Europe and the US could dampen demand for oil. Alternatively, negative news relating to the Ukraine conflict could still lead to fuel prices rising again during this winter, he adds. The Irish carrier is currently hedged at 90% up to March 2023 at $64 per barrel and approximately 40% hedged to March 2024 at between $92 - $93 per barrel, O'Leary states. He says he "wouldn’t want to go much more than this". "I think we will probably try to hedge up to about 50% of FY 24 at $90 to $92 dollars a barrel. I don’t think we want to hedge anymore because I think there is an equal chance into the summer of 2023 that oil prices might fall," he says. While Ryanair was very minded to hedge up to 90% "coming out of Covid", he wouldn't be keen to replicate this position for 2024 because "the risk is you get it wrong on both sides, you might be too high". But O'Leary does describe fuel as a "significant challenge" for Ryanair, although the carrier is in a better position than its unhedged rivals, he adds.