My Freighter and Icelandair Cargo have signed an interline agreement that aims to establish a new cargo gateway through Iceland, offering expanded connectivity for global freight services. This agreement marks a strategic milestone for both airlines as they seek to enhance their international cargo operations and strengthen their positions in a competitive market.
GlobalX expects passenger ACMI to remain a core driver of its business, with further expansion anticipated in 2025. Growth will be supported by additional aircraft deliveries in the second half of the year, alongside strengthened partnerships across North America and Europe. The airline is focused on scaling its ACMI operations, ensuring flexibility and capacity for airlines requiring short-term and seasonal capacity solutions.
Turkish Airlines, Turkey’s national flag carrier, has announced plans to expand its global network with new routes to Minneapolis and Auckland. The airline intends to commence flights to Minneapolis in April or May 2025, while the Auckland route will be introduced via Singapore, further enhancing Turkish Airlines’ connectivity across continents.
Avolon (Ireland) has released a forecast predicting that growth in the Asia-Pacific region will be the primary driver behind global airline revenues surpassing $1 trillion for the first time in 2025. The report highlights the region’s rapidly expanding air travel market and its pivotal role in shaping the future of global aviation.
Fly All Ways, an airline based in Suriname, has taken delivery of its first Airbus A320. This marks a significant milestone in the carrier’s expansion plans, as the aircraft will support operations across key destinations in the Caribbean, South America, and North America.
Fitch Ratings has downgraded the long-term credit rating of Spirit Airlines from ‘CCC’ to ‘CC’, signaling heightened financial distress and the likelihood of a near-term default. This latest downgrade places Spirit Airlines below other low-cost carriers (LCCs) in North America, reflecting concerns about the airline’s financial stability.
Cargojet, Canada’s premier air cargo carrier, has reported strong financial results for the third quarter of 2024, with total revenue rising by 14.8% to $176.6 million. The company also achieved a remarkable 182.9% increase in net earnings, reaching $21.3 million, underscoring Cargojet’s resilience and efficiency in a competitive market.
