euroAtlantic Airways, based in Portugal, has announced the appointment of Raul Largo as its new Chief Commercial Officer (CCO), effective November 1, 2024. Largo joins euroAtlantic with a comprehensive background in commercial aviation, bringing his expertise to lead and expand the airline’s commercial strategies. His role is set to play a critical part in enhancing euroAtlantic’s market reach and optimizing revenue…
Eirtech Aviation Services, based in Ireland, has appointed Michael Sattler as its new President. With a strong background in aviation services, Sattler brings a wealth of experience to Eirtech, aiming to drive growth and enhance the company’s global footprint. His appointment is expected to reinforce Eirtech’s position in the competitive aviation services industry and improve its service offerings across…
Boeing has commenced the process of issuing layoff notices to 17,000 of its employees, a move set to reduce its workforce by 10%. This reduction comes as part of Boeing’s strategic efforts to stabilize its finances amid significant challenges impacting the aviation industry, particularly due to the reduced demand for air travel and aircraft orders…
airBaltic, the Latvian national airline, has reported a net profit of $42.7 million for the third quarter of 2024, an impressive result supported by an 8% increase in revenue to $250 million. This growth in revenue highlights the airline’s successful strategies in optimizing operational efficiency and expanding its network within Europe. With strong results in Q3, airBaltic now anticipates full-year…
Volotea, a Spanish low-cost airline, is on track to achieve substantial growth by the end of 2024, with a projected 12 million passengers transported. For the first nine months of the year, Volotea reported a 14.5% increase in sales, reaching $640 million, while EBITDA rose 21% to $129 million. The airline’s robust performance reflects its strong market position and expanding route network within…
Lufthansa, Germany’s flagship airline, is intensifying its efforts to raise liquidity by the end of 2024 through the sale/leaseback (SLB) of an additional nine A320neo and A321neo aircraft. This financial strategy allows Lufthansa to free up cash while retaining operational use of these aircraft, supporting the airline’s liquidity needs amidst ongoing market pressures. Lufthansa has previously employed this approach, raising $247 million during…
Ryanair, Ireland’s leading low-cost airline, has expanded its operations at Reggio Emilia Airport with the addition of a second based aircraft. This move coincides with the launch of seven new winter routes, strengthening Ryanair’s connectivity across Europe from its Italian base. The airline’s strategic expansion in Reggio Emilia is aimed at meeting increasing demand for affordable travel options, particularly…
LATAM Airlines, the largest carrier in Latin America, has announced an extension of its suspension of flights between Lima and Caracas until March 30, 2025. The decision, initially put in place due to operational challenges, is now being extended because of ongoing uncertainty regarding the policies of the Venezuelan government. This move reflects LATAM’s cautious approach to navigating the…
IBA, a leading aviation consultancy based in the UK, has reported that airline capacity in 2024 has surpassed 2019 pre-pandemic levels across all regions. Key metrics show significant growth, reflecting a robust recovery in global air travel. Available Seat Kilometers (ASKs) rose by an impressive 104%, highlighting a substantial increase in capacity compared to the previous year. Additionally, revenue grew by an average of 23.1% in…
The Nigerian government has called for a bench warrant against Hathiramani Ranesh, the Managing Director of Dana Air, following his failure to appear before the Federal High Court in Abuja. The case involves allegations of fraud totaling $786,000 (approximately ₦1.3 billion), with the Nigerian authorities pushing for legal action due to Ranesh’s absence at scheduled court proceedings. This development reflects Nigeria’s increasing focus on holding corporate…
