Grupo Aeromexico, the parent company of Mexico’s legacy carrier, says the airline continued steadily recovering from the coronavirus crisis during Q2 of the year, as both domestic and international travel contributed to narrowing its financial loss. “Aeromexico has been successful in managing its network on a flight-by-flight basis ensuring that its operations are cash generative,” the company says on 20 July. In Q2 2021, total revenue at the Mexico City-based airline came in at Ps10b ($496m), up from Ps2.6b during the same quarter in 2020. Still, that’s down 41% from Ps16.8b in the same three months of 2019, the carrier says. The company’s net loss for the April to June period was Ps.2.8b, compared to Ps27.4b during the same quarter a year earlier, just as the global health crisis was ravaging the industry. While an improvement, the 2021 loss is still more than one-and-a-half times the Ps1.1b loss reported in Q2 2019. The airline’s capacity (measured in available seat kilometres - ASKs) during the period increased 9% from Q1 of the year, “primarily driven by a sequential recovery in domestic and international markets”.<br/>
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Korean Air said Tuesday it recently began a joint research project with Seoul National University, backed by the Republic of Korea Air Force, to explore the possibility of using large commercial aircraft for air launching. As part of the project, the South Korean national carrier will analyze the current technological capabilities, how to apply core technologies to the project, annual operating costs, and aircraft modification in order to develop an air-launch system with the Boeing 747-400. The airline also said it plans to seek ways to commercialize the modified aircraft in the future. The announcement comes after the South Korea-US missile guidelines that restricted the range of the country’s ballistic-missiles was terminated in May this year, clearing the path for the development and operation of an air-launch system. With satellites currently only available to be launched from Naro Space Center, in South Jeolla Province, the latest move will see the country’s air-launching capabilities improve and help overcome its geographical limitations, the airline said. “To attract the fast-growing, worldwide demand for small satellite launches, it is essential to develop capabilities for air launching, which is not affected by weather or geographical conditions,” the airline said. “We will use our extensive experience operating aircraft and expertise in the aerospace business, which includes aircraft system integration and assembling Korea’s first space launch vehicle, Naro, to develop an air-launch system that is competitive in the global market.”<br/>
Auditors have raised “significant doubt” over Garuda Indonesia’s ability to continue as a going concern, after the beleaguered flag carrier plunged to a record full-year loss. In a report accompanying the carrier’s financial results, KAP Tanudiredja, Wibisana, Rintis & Rekan, a member firm of accounting giant PwC, assigned a disclaimer of opinion — given when auditor cannot judge whether the accounts have been created properly — on Garuda’s financial results. It notes that Garuda’s financial situation weakened due to the coronavirus pandemic, which has impacted the airline group’s performance and liquidity. “The adverse impact on the group’s operation and liquidity has directly affected the group’s ability to meet its financial obligations to its lenders and its significant vendors such as fuel suppliers, airport operators and aircraft lessors,” note the auditors. The carrier already has several leased aircraft grounded, after it failed to meet its obligations to its lessors, the auditors state. “All of these conditions indicate the existence of material uncertainties which may cast significant doubt about the Group’s ability to continue as a going concern,” they add. <br/>