airlines industry – आवारा मुसाफिर

Airline industry will spend $291 billion on fuel in 2024

August 12, 2024141 Views

It is $100 billion more than pre-pandemic levels After a significant drop caused by the COVID-19 pandemic, global airline fuel spending has been continually rising and is on the brink of setting a new record this year. According to data presented by Stocklytics.com, the global airline industry is forecasted to spend a whopping $291 billion on fuel in 2024, or $100 billion more than five years ago. $100 billion higher cost for the same amount of fuel While it's become quite usual for one of the world's biggest fuel consumers to spend hundreds of billions of dollars on fuel each year, today, airlines are spending much more on the same amount of fuel as five years ago. According to the latest Air Transport Global Outlook published by the International Air Tran...

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Passenger demand up 21.5% in February

AWARA MUSAFIR BUREAU

April 5, 2024295 Views

The International Air Transport Association (IATA) released data for February 2024 global passenger demand with the following highlights: Total demand, measured in revenue passenger kilometers (RPKs), was up 21.5% compared to February 2023. Total capacity, measured in available seat kilometers (ASK), was up 18.7% year-on-year. The February load factor was 80.6% (+1.9ppt compared to February 2023). International demand rose 26.3% compared to February 2023; capacity was up 25.5% year-on-year and the load factor improved to 79.3% (+0.5ppt on February 2023). Domestic demand rose 15.0% compared to February 2023; capacity was up 9.4% year-on-year and the load factor was 82.6% (+4.0ppt compared to February 2023). Note that February 2024 was a leap year with one extra day compared...

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Cathay Pacific posts best H1 profit since 2010

AWARA MUSAFIR BUREAU

August 9, 2023585 Views

Cathay Pacific Airways reported on Wednesday its best first-half profit in more than a decade and announced plans to order more planes and repay a Hong Kong government rescue package after a major turnaround in travel demand. The interim net profit of HK$4.3 billion, in line with its guidance for earnings of up to HK$4.5 billion, compared with a HK$5 billion loss a year earlier, when Hong Kong's strict COVID-19 quarantine rules were in place. "While we are still only part way along our rebuilding journey, our results for the first six months of 2023 demonstrate that we are on the right track," Cathay Chairman Patrick Healy said in a statement. FILE PHOTO: Cathay Pacific employees work at Hong Kong International Airport, in Hong Kong, China March 8, 2023. REUTERS/Lam Yik Cathay...

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Cathay Pacific February figures still 99% behind pre-pandemic level

AWARA MUSAFIR BUREAU

March 14, 2022770 Views

Cathay Pacific airlines has released its traffic figures for February 2022 that continued to reflect the airline’s substantial capacity reductions in response to significantly reduced demand as well as travel restrictions and quarantine requirements in place in Hong Kong and other markets amid the ongoing global COVID-19 pandemic. Cathay Pacific carried a total of 31,253 passengers last month, an increase of 47.9% compared to February 2021, and a 98.9% decrease compared to the pre-pandemic level in February 2019. The month’s revenue passenger kilometres (RPKs) increased 5.2% year-on-year, and were down 99% versus February 2019. Passenger load factor increased by 33.8 percentage points to 47.6%, while capacity, measured in available seat kilometres (ASKs), decreased by 69.4% year-on...

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Air Travel sees strong recovery but impacted by Omicron

AWARA MUSAFIR BUREAU

March 10, 2022266 Views

The recovery in air travel slowed for both domestic and international in January 2022 compared to December 2021, owing to the imposition of travel restrictions following the emergence of Omicron last November. The International Air Transport Association (IATA) said this according to its latest traffic data. The main highlights of the latest findings were: Total demand for air travel in January 2022 (measured in revenue passenger kilometers or RPKs) was up 82.3% compared to January 2021. However, it was down 4.9% compared to the previous month (December 2021) on a seasonally adjusted basis.January domestic air travel was up 41.5% compared to the year-ago period but fell 7.2% compared to December 2021 on a seasonally adjusted basis.International RPKs rose 165.6% versus January 2021 bu...

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Cathay returns to profit amid pain from new quarantine rules

AWARA MUSAFIR BUREAU

March 9, 2022438 Views

Cathay Pacific Airways Ltd returned to profit in the second half of last year but has since been hamstrung by tough new quarantine rules for crew and said it is trying to boost cargo capacity as much as possible in an effort to cope. Hong Kong's flagship airline managed a profit of about HK$2 billion in the second half, thanks to cost cuts and strong cargo demand and pricing, even though it flew 85% fewer passengers than in 2020, when it was also affected by the coronavirus pandemic. That helped it book a slightly smaller-than-expected annual loss of HK$5.5 billion ($700 million) - also a big improvement from a loss of HK$21.65 billion the prior year. FILE PHOTO: A Cathay Pacific cargo plane carrying Fosun-BioNTech COVID-19 vaccines prepares to dock at Hong Kong International Air...

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Air passenger numbers to recover in 2024

AWARA MUSAFIR BUREAU

March 2, 20221093 Views

Reasons to be optimistic but Russia-Ukraine war yet to be taken into account The International Air Transport Association (IATA) expects overall traveler numbers to reach 4.0 billion in 2024 (counting multi-sector connecting trips as one passenger), exceeding pre-COVID-19 levels (103% of the 2019 total). Expectations for the shape of the near-term recovery have shifted slightly, reflecting the evolution of government-imposed travel restrictions in some markets. The overall picture presented in the latest update to IATA’s long-term forecast, however, is unchanged from what was expected in November, prior to the Omicron variant. “The trajectory for the recovery in passenger numbers from COVID-19 was not changed by the Omicron variant. People want to travel. And when travel restr...

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Follow WHO advice: Rescind travel bans

AWARA MUSAFIR BUREAU

December 8, 2021755 Views

Airlines say nations overreacted to Omicron variant Global airlines blasted governments on Wednesday for worsening the Omicron scare through snap border measures and "rip-off" virus testing regimes, and urged politicians to let travellers make their own decisions based on scientific data. The International Air Transport Association (IATA) called for governments to follow World Health Organization (WHO) advice and immediately rescind travel bans that were introduced in response to the Omicron variant of the coronavirus. FILE PHOTO: Travellers wear personal protective equipment outside the international terminal at Sydney Airport, as countries react to the new coronavirus Omicron variant amid the coronavirus disease (COVID-19) pandemic, in Sydney, Australia, November 29, 2021. REUT...

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Losses reduce but pain doesn’t for airlines industry

AWARA MUSAFIR BUREAU

April 22, 20211281 Views

The International Air Transport Association (IATA) expects net airline industry losses of $47.7 billion in 2021 (net profit margin of -10.4%). This is an improvement on the estimated net industry loss of $126.4 billion in 2020 (net profit margin of -33.9%). “This crisis is longer and deeper than anyone could have expected. Losses will be reduced from 2020, but the pain of the crisis increases. There is optimism in domestic markets where aviation’s hallmark resilience is demonstrated by rebounds in markets without internal travel restrictions. Government imposed travel restrictions, however, continue to dampen the strong underlying demand for international travel. Despite an estimated 2.4 billion people travelling by air in 2021, airlines will burn through a further $81 billion of cash,...