Cathay Group (Hong Kong) has announced strong financial results for 2024, reporting an attributable profit of $1.2 billion, driven by a 10.5% year-on-year increase in revenue to $13.4 billion. The group also ended the year with an available unrestricted liquidity balance of $2.4 billion, reflecting improved financial stability and operational resilience.
In the wake of the Korean Air-Asiana Airlines merger, Korea’s Fair Trade Commission (KFTC) and the Ministry of Land, Infrastructure, and Transport (MOLIT) have formalized a business agreement to jointly monitor the implementation of corrective measures required as part of the merger approval process. This cooperation aims to ensure fair competition and compliance with aviation regulations following the integration of Korea’s two largest airlines.
The National Civil Aviation Agency of Brazil (ANAC) has officially suspended the operations of VoePass due to violations of established safety conditions. The regulatory body determined that the carrier failed to meet critical safety requirements, leading to the immediate halt of its activities.
Minority shareholders of T’way Air (South Korea) have begun legal and financial action, alleging violations of their shareholder rights amid the airline’s merger and acquisition agreement involving major stakeholders Yelimdang and Daemyung Sono Group. The dispute highlights growing concerns over transparency and fair treatment in corporate governance during ownership transitions.
IAG (UK) has announced the launch of IAGi Ventures, its new corporate venturing arm, with plans to invest up to $216 million over five years in high-potential companies. The initiative aims to drive innovation, technological advancements, and strategic business growth, strengthening IAG’s long-term position in the aviation and travel sectors.
Hawaiian Airlines (US) and Virgin Australia have announced that they will terminate their reciprocal frequent flyer cooperation on July 1, 2025. This change means that members of HawaiianMiles and Velocity Frequent Flyer will no longer be able to earn or redeem miles across both airline networks after this date.
Embraer Commercial Aviation has announced the establishment of a dedicated Global Leasing and Freighter teambased in Amsterdam, reinforcing its commitment to aircraft leasing and the growing demand for passenger-to-freighter (P2F) conversions. The new division will be led by Oliver Gerg, who assumes the role of Senior Vice President Global Leasing and Freighter, bringing extensive expertise in aviation leasing and fleet management.
China Airlines (Taiwan) has officially appointed Chen Han-Ming as its new president, succeeding Kao Shing-Hwang, who has been elevated to the position of chairman. This leadership transition reflects the airline’s long-term strategic vision as it continues to expand and strengthen its global position.
Allegiant (US) has announced the closure of its Los Angeles crew base, attributing the decision to rising airport costs. This move marks another step in the airline’s cost-cutting efforts, as it continues to refine its network strategy and operational efficiency.
Lufthansa Technik (Germany) and Hebei Airlines (China) have strengthened their long-term cooperation with a comprehensive Engine Maintenance Services contract focused on CFM56-7B engines used in the airline’s Boeing 737-800 fleet. This agreement reinforces Lufthansa Technik’s role as a key MRO provider for Chinese carriers, ensuring high operational reliability and cost-efficient maintenance solutions.
