British Airways owner IAG predicts bounce back to profitability on return of global travel May 6, 2022 British Airways owner International Airlines Group (IAG) today said it believes the easing of global restrictions and the return of global travel will see it bounce back to profitability. The firm – formed through the merger of Iberia and British Airways in 2011 – said its Q1 2022 passenger numbers were 65 per cent those [...]
Russia considers taking $1.3bn from wealth fund to recapitalise Aeroflot April 20, 2022 Russia is considering taking $1.3bn from its national wealth fund to recapitalise Aeroflot. According to Moscow sources, the wealth fund will buy Aeroflot’s new share issue through an open subscription and spend an additional $690.9m in equity stakes to help other struggling carriers. As a result of the new issue, the Kremlin’s stake will need [...]
EU court expands scope of flight refund policy to non-EU airlines April 12, 2022 The EU’s highest court has expanded the scope of its flight refund policy, by allowing passengers to claim refunds from non-EU airlines. The European Court of Justice ruled in favour of plaintiffs suing Chicago headquartered firm United Airlines in allowing them to claim a refund for a 223-minute delay between Brussels and San Jose, [...]
Airlines to pass oil prices to passengers, says ex IAG boss Willie Walsh April 6, 2022 Airlines are expected to pass increasing oil prices to passengers through higher fares, said former IAGA boss Willie Walsh. According to Walsh, the war-induced spike in energy costs has worsened the industry’s overall outlook for 2022 to include industry-wide losses. In the past oil prices would take around six months to pass onto customers but [...]
Virgin Atlantic reaps the rewards from oil bet in pandemic rebound March 13, 2022 Virgin Atlantic will offer the same number of seats for customers as this summer as it did in 2019 - prior to the pandemic.
TUI chief: Holiday bookings fly back to pre-pandemic levels March 6, 2022 Travel giant TUI said it expects holiday bookings to rise towards pre-pandemic levels as the industry gets back on its knees.
EU airlines’ shares tumble following airspace closure February 28, 2022 The shares of major European airlines have taken a tumble following the EU’s decision to close its airspace to Russia. Legacy carriers have registered a slump, with British Airways’ owner IAG going down 4.19 per cent, while German carrier Lufthansa registered a 4.76 per cent fall. Share of aviation colossus Air France-KLM went down 2.30 [...]
British Airways cancels all Heathrow short-haul flights amid IT issue February 26, 2022 British Airways said it would be cancelling all short-haul flights from London’s Heathrow airport until midday as it deals with an IT failure affecting its website, app, and airport operations. “We are extremely sorry that due to the continuing technical issues we are facing we have regrettably had to cancel all short-haul flights from Heathrow [...]
Ethiopian Airlines fly A737 MAX for first time since 2019 crash February 1, 2022 Ethiopian Airlines flew today a Boeing A737 MAX for the first time since the March 2019 crash, when 157 people died a few minutes after taking off from Addis Ababa. The demonstration flight took off from the Ethiopian capital and travelled around Mount Kilimanjaro, carrying journalists, diplomats and officials aboard, Reuters reported. While the victims’ [...]
