China Airlines profitable in full-year 2020
March 24, 2021
China Airlines reported a net operating income of NT$2.18 billion ($76 million) for the year ended 31 December 2020.
Operating revenue came in at NT$115 billion, while profit attributable to the owners of the company's parent was NT$140 million, according to an 18 March filing to the Taiwan Stock Exchange. This compares with the NT$80 million operating profit the airline posted for the whole of 2019, according to its financial statements for the year. In the same period, it reported NT$146 billion revenues and a net loss of NT$1.2 billion.
Avianca wins court approval to lease eight A320s from GECAS
March 23, 2021
Avianca has been given court approval to enter into leases with GECAS for eight Airbus A320s, including two amended leases that will now be on a per-hour basis. The airline's parent company Avianca Holdings is currently the subject of US Chapter 11 bankruptcy protection, and a court order authorising the aircraft leases was filed on 17 March. This covers new lease agreements for six A320neos and amended leases for two A320ceos for the Colombian flag carrier. The amended leases are on a per-hour basis, rather than the fixed monthly rates, for the six A320neos, according to a motion filed by the Avianca debtors requesting authorisation of the leases. Per-hour pricing for MSNs 4487 and 4599 extends beyond the Chapter 11 cases and "ensures that those leases will not burden the debtors with fixed rents in the event of a low-demand period". Regarding the new leases for the six A320neos with CFM Leap engines, the debtors state that the rental payments are on "terms that are suitable for uncertain near-term market conditions, both during and immediately after the Chapter 11 cases". With a nod to how the Covid-19 pandemic has decimated air travel demand worldwide, the filing states: "The debtors were able to obtain these favourable lease terms, in part, due to the historically low level of demand for aircraft in the current market." It further states: "These aircraft transactions represent a major step forward in the debtors' plans to redevelop a fleet and capital structure that will meet their short-term and long-term needs." Exact terms of the leases are being kept confidential.
Aeroflot sees 61% decline in passengers carried during February
March 23, 2021
Russian flag carrier Aeroflot Airlines saw a 61% year-on-year decline in passengers carried during February, contributing to a 42% decline in passengers for parent Aeroflot Group. Subsidiaries Pobeda Airlines and Rossiya Airlines had an increase in passengers of 3% and a decline of 21%, respectively. The group’s capacity, as measured in available seat-kilometres, was reduced by 58%, whereas revenue passenger kilometres declined 55%. The passenger load factor for the group increased year-on-year by 5.3 percentage points to 80%, Aeroflot notes.