IATA is projecting strengthened profitability for airlines in 2023, which will then largely stabilize in 2024. However, it says that net profitability at the global level is expected to be well below the cost of capital in both years. Very significant regional variations in financial performance remain.
Highlights of IATA’s outlook include:
• Airline industry net profits are expected to reach $25.7 billion in 2024 (2.7% net profit margin). That will be a slight improvement over 2023 which is expected to show a $23.3 billion net profit (2.6% net profit margin).
• In both...
Air Transat's popular routes between Montreal and San Salvador, El Salvador, and Liberia, Costa Rica, which were previously operated only during the winter season, will now be available year-round.
“This service extension is a reflection of our commitment to offer our customers flexible and varied travel options,” said Michèle Barre, Transat's chief revenue officer. “The annualization of these routes is a direct response to the growing interest in Latin American destinations, and we are proud to now offer these exclusive nonstop flights from Montreal year-round.”
Weekly...
The recovery continues, with IATA reporting that passenger demand continued to bounce back in October.
The global airline industry association said that:
Total traffic in October 2023 (measured in revenue passenger kilometres or RPKs) rose 31.2% compared to October 2022. Globally, traffic is now at 98.2% of pre-COVID levels.
Domestic traffic for October rose 33.7% versus October 2022, driven by the triple-digit percentage growth recorded in China, and was 4.8% above the October 2019 results.
International traffic climbed 29.7% compared to the same month a year ago. All...
Air Canada has unveiled new air-to-rail booking options for customers to connect at European airports with four major passenger rail systems.
Through new railway and distribution partnerships, Air Canada customers, when purchasing flights, can now also book onward rail trips to a multitude of destinations throughout France, Germany, Switzerland, and Austria to create a seamless travel itinerary.
Mark Galardo, Executive Vice President, Revenue and Network Planning, at Air Canada, explained that: “As a leading global airline, Air Canada excels at flying, but we also know intermodal...
Porter Airlines is adding daily roundtrip flights on three new non-stop routes between Montréal-Pierre Elliott Trudeau International Airport (YUL) and Vancouver International Airport (YVR), Calgary International Airport (YYC) and Edmonton International Airport (YEG).
The addition of the new routes beginning next spring provides another way to travel between Porter’s extensive Eastern Canada network and the west.
Service features on these routes include complimentary premium snacks, beer and wine served in glassware, and free, fast WiFi for all passengers. Fresh, healthy meals are also...
Air Canada has introduced a new feature to the Air Canada mobile app to enable customers traveling within Canada to track the progress of their baggage and mobility aid in real time at key points as it moves with them throughout their journey.
The new tracking feature is designed to provide travellers with added confidence and improve the overall customer experience through greater convenience.
Tom Stevens, Vice President, Customer Experience and Operations Strategy at Air Canada, said that: “At Air Canada, we know that apart from a safe, comfortable journey, the prompt delivery...
WestJet has unveiled its annual Christmas Miracle campaign, aptly titled Holiday Heroes, marking 11 years of making the impossible possible.
This year's campaign shines a spotlight on the one-in-four Canadians who will be separated from a loved one over the holidays. WestJetters know all too well what it's like to be separated from family and friends over the holidays, so this year they facilitated three surprise reunions for individuals working in the industries dedicated to supporting travel during this busy time of year.
"WestJet is proud to be part of a large community that...
Alaska Air Group, Inc. and Hawaiian Holdings, Inc. have entered into a definitive agreement under which Alaska Airlines will acquire Hawaiian Airlines for $18.00 per share in cash, for a transaction value of approximately $1.9 billion, inclusive of $0.9 billion of Hawaiian Airlines net debt.
The combined company will unlock more destinations for consumers and expand choice of critical air service options and access throughout the Pacific region, Continental United States and globally.
The transaction is expected to enable a stronger platform for growth and competition in the U.S.,...
Porter Airlines has expanded its Florida offering from Eastern Canada with flights from Toronto Pearson International Airport (YYZ) and Ottawa International Airport (YOW) taking off for Fort Lauderdale-Hollywood International Airport (FLL) for the first time yesterday.
Both routes begin with daily roundtrip flights operated on the 132-seat Embraer E195-E2 aircraft. The aircraft is a two-by-two configuration, meaning there are no middle seats on any Porter flight.
For the first time, passengers can experience Porter’s style, care, and charm throughout the entire journey from Fort...
Small bunches of rainy day flowers in Vancouver help spread the news that Air Canada has been busy ramping up its flight capacities and frequencies to Asia.
Air Canada staffers welcomed shoppers and passers-by to a pair of pop-up booth locations – read activations – that operated over two weekends recently. One was at the downtown Pacific Centre Mall, the other at the terminal Waterfront Skytrain station – both bustling locations with free bouquets on offer.
Along with the flowers was news that Air Canada has announced a strategic boost to its Asia-Pacific network capacity...