S&P Global has downgraded the credit rating of Brazilian airline Azul from CCC+ to CC, with a negative outlook, following the airline’s recent financing agreement with bondholders. This move reflects S&P’s view that the restructuring deal, aimed at providing Azul with additional liquidity, qualifies as a “distressed” transaction. The downgrade signals ongoing financial strain for…
China Eastern Airlines has reported a net profit of US$280 million for the third quarter of 2024, marking a significant turnaround from the losses experienced in previous periods. This positive outcome is attributed to a robust recovery in passenger demand and strategic operational enhancements.
Allegiant Travel has reported a slight decline in revenue for Q3 2024, with total operating revenue falling by 0.6% year-over-year to $562.2 million. The Las Vegas-based airline, known for its focus on low-cost leisure travel, faced increased challenges this quarter, including operational cost pressures that contributed to a 46.6% rise in net loss, amounting to…
AirAsia Indonesia has announced a substantial 20% increase in revenue for the third quarter of 2024, reaching $375 million. This growth was bolstered by strong travel demand as the airline carried 4.99 million passengers, marking a steady post-pandemic recovery in Southeast Asia’s aviation sector. The increased passenger volume reflects the success of AirAsia Indonesia’s strategies…
Air China reported its financial results for the third quarter of 2024, noting a 6% year-over-year increase in revenue, totaling $6.8 billion. This growth was driven by steady demand for both domestic and international flights, as well as strategic capacity adjustments to optimize load factors across its extensive route network. Despite this increase in revenue,…
Aeroflot has reported a strong financial performance for the first nine months of 2024, achieving a net profit of 26.3 billion rubles. This profit marks a significant turnaround from a 94.6 billion ruble loss in the same period in 2023. Contributing to this success was a 47.3% rise in revenue to 526.2 billion rubles, fueled…
SunExpress, a joint venture between Turkish Airlines and Lufthansa, has strengthened its connectivity with Austria by establishing a codeshare agreement with Austrian Airlines. This partnership allows both airlines to expand their route networks and offer passengers greater flexibility and seamless travel options between Austria and key destinations in Turkey. Under the new agreement, Austrian Airlines…
Riyadh Air, Saudi Arabia’s new airline backed by the Public Investment Fund, is considering a strategic code-sharing agreement with Cathay Pacific, enhancing its connections in Asia. This collaboration would allow both airlines to expand their reach across Asia and the Middle East, giving Riyadh Air access to Cathay Pacific’s vast network of over 80 destinations…
Guatemala’s TAG Airlines recently presented its fleet modernization strategy for 2024 at the Latin American and Caribbean Air Transport Association (ALTA) meeting held in Nassau, Bahamas. The plan includes integrating ATR-72 aircraft, renowned for their efficiency, ecological benefits, and safety, to enhance the airline’s regional service quality and reliability. With an existing fleet of eight…
Aircraft asset manager Stratos has finalized the sale of four aircraft across three separate transactions, enhancing returns for its investors. The sales include two A320 aircraft sold to Avion Express, a 737-300F purchased by a Middle Eastern buyer, and a leased 777-300ER acquired by Altavair-managed investors. The A320s were transferred at lease expiration, while the…
