Aero K (South Korea) has expanded its fleet with the delivery of one Airbus A320, bearing serial number 2612. The aircraft is on lease and is powered by CFM56-5B6/P engines, further strengthening the airline’s narrowbody fleet.
SriLankan Airlines reported a $6.6 million net loss for the seven months ending October 2024, as net traffic revenue fell 14.9% to $517.3 million. The decline reflects weaker demand and financial struggles, continuing the airline’s challenging financial trajectory.
Jeju Air (South Korea) has announced its 2024 financial results, showing total revenue climbed 12.3% to $1.3 billion, reflecting strong passenger demand. However, the airline’s net profit plummeted 83.8% to $15 million, impacted by rising operational costs and economic challenges.
Etihad (UAE) has reported a significant surge in profitability for 2024, with net profit tripling to $476 million and revenues increasing 25% to $6.9 billion. The airline’s financial performance underscores strong passenger demand, strategic cost efficiencies, and expansion in key markets.
Cargojet (Canada) reported a strong financial performance for 4Q 2024, with total revenue rising 32.1% to $206.7 million and net earnings reaching $50.2 million. The company’s full-year 2024 revenue grew 14.1% to $705 million, with net earnings of $108.4 million and net cash reserves of $231.7 million.
airBaltic (Latvia) will be able to evaluate the refinancing of its $397 million bond debt starting in May 2026, as the airline seeks to optimize its financial structure and reduce borrowing costs.
airBaltic (Latvia) is considering pushing back its planned IPO to early 2026, as CEO Martin Gauss acknowledged that ongoing engine delivery challenges are restricting the airline’s growth trajectory.
Viva Air Peru, the low-cost carrier that ceased operations in February 2023, has been placed under ordinary bankruptcy proceedings, according to the competition regulator. This development formalizes the airline’s financial collapse, opening the way for creditors to seek repayment.
Thai Airways International is preparing for a major international expansion as it nears the completion of its debt restructuring process in late 2025. Debt administrator Piyasvasti Amranand has outlined plans for network growth, positioning the airline for stronger global competition.
Southwest Airlines (US) is implementing a 15% reduction in corporate jobs as part of a cost-cutting initiative, with projected savings of $210 million in 2025 and $300 million in 2026. This move reflects the airline’s focus on operational efficiency and long-term financial sustainability.
