Flying high. The International Air Transport Association (IATA) expects the global airline industry to make a net profit in 2017 of US$29.8 billion, representing a 4.1% net profit margin.
This will be the third consecutive year (and the third year in the industry’s history) in which airlines will make a return on invested capital (7.9%) which is above the weighted average cost of capital (6.9%).
IATA revised slightly downward its outlook for 2016 airline industry profitability to US$35.6 billion (from the June projection of US$39.4 billion) owing to slower global GDP growth and...
What a way to wrap up 2016.
Etihad Airways and Lufthansa German Airlines have hammered out a codeshare deal that – subject to government approval – will take off in 2017.
The two carriers also announced a wet-lease agreement between Lufthansa Group and airberlin – in which Etihad Aviation Group indirectly holds a 29%.
Lufthansa’s point-to-point carrier Eurowings and Austrian Airlines, a Lufthansa Group airline, have signed an agreement to wet lease 38 aircraft from airberlin.
Thirty-three of these aircraft are to be operated for the Eurowings Group, an additional five...
Air Canada has signed a Memorandum of Understanding for a codeshare agreement with Virgin Australia, making it easier for Canadians to travel throughout Australia and New Zealand and providing Australians with more options to travel to Canada.
The first stage of the agreement is scheduled to be implemented in early 2017 when Air Canada customers will be able to book travel on a single ticket to an additional 10 cities throughout Australia and New Zealand on Virgin Australia-operated flights connecting with Air Canada's daily year-round service to Sydney and Brisbane.
Subject to...
Flight disruptions at British Airways could be on the way as thousands of cabin crew – members of Unite – working for BA's “Mixed Fleet” have voted overwhelmingly in favour of strike action over pay and broken promises.
Seventy-nine per cent of the crew that took part in the ballot voted for strike action.
Unite is urging British Airways to return to the negotiating table and engage with the union in a meaningful way, otherwise more than 2,500 Unite members who crew long- and short-haul routes to dozens of destinations could go on strike after Dec. 21.
The Unite members...
Alaska Air Group Inc. has closed its acquisition of Virgin America, an agreement signed in April and approved by Virgin America shareholders in July, bringing the two airlines into a unified force that will “provide an attractive alternative to the 'Big 4' airlines that currently control 84% of the US market.
Alaska Airlines and Virgin America will spend the next year working to secure Federal Aviation Administration (FAA) certification to allow the two airlines to operate as a single carrier (with regional sister carrier Horizon Air remaining on its own separate operating...
WestJet has released its fifth annual Christmas video. The airline stayed close to home this year, surprising people whose homes were affected by the devastating forest fire in May in Fort McMurray.
Christmas Miracle: Fort McMurray Strong tells the story of how WestJet created a magical experience for those residents still dealing with the trauma of the mass evacuation and fire. To watch the video and see more behind the scenes content, click https://www.westjet.com/en-ca/about-us/story/christmas-miracle.
“This year, we wanted Christmas to mean just a little bit more for the...
Air Canada’s spectacular offshore route expansion, coupled with increased competition from WestJet on the domestic front, will combine to keep the lid on air fare increases next year.
That’s the good news for road warriors contained in the 2017 Global Business Travel Forecast just released by American Express Global Business Travel, reports Montreal editor, Mike Dunbar in this week's digital edition of Canadian Travel Press..
The forecast authors explained:
``Aggressive capacity growth by Air Canada has led to a significant deterioration in revenue per available seat mile and...
Making dreams come true! For 90 minutes in the skies over Canada Wednesday (Dec. 7), hundreds of children living with severe illnesses, and their families, were treated to an unforgettable experience, when they were greeted by Santa Claus on special flights organized by The Children’s Wish Foundation of Canada and Air Transat.
The flights, which took off from Toronto, Montreal and Vancouver, were part of Air Transat’s 12th annual Flights in Search of Santa, a joint effort in partnership with the Children’s Wish Foundation of Canada. And for the second year in a row, a flight from...
TAP Portugal has announced the addition of six new destinations to its global route network by July 2017, including Toronto, the airlines fifth North American gateway.
TAP will also add five new European destinations: Budapest, Hungary; Bucharest, Romania; Las Palmas and Alicante, Spain; and Stuttgart, Germany. With these five new cities, TAP will serve 52 European destinations, adding more options to its popular Stopover program where travellers can enjoy a one-, two- or three-day visit to Portugal on the way for no extra airfare.
The Stopover booking option is available on the...
Air Canada will launch six new non-stop US services beginning spring 2017.
Three of the routes, Toronto to San Antonio, Memphis and Savannah, bring new destinations into the airline's US network, while the addition of Montreal to Dallas-Fort Worth, Vancouver to Denver and the conversion of the Vancouver-Phoenix route to year-round operation, will deepen Air Canada's transborder schedule.
The new non-stop services will be operated by Air Canada Express starting in May and continue year-round, except for Toronto-Savannah, which will operate on a summer seasonal...