star

Greece's largest carrier Aegean Airlines swung to a Q3 profit as passenger traffic recovered from pandemic travel restrictions and resurgent tourist arrivals. Aegean said net profit reached E51.3m in the three months to Sept. 30, compared with a loss of E28.4m in the same period last year. Sales rose 115% to E333.9m. CE Dimitris Gerogiannis said that Q3 was its first profitable quarter since the coronavirus crisis started in early 2020. "We have adapted the programme flexibly, responding to opportunities from major markets such as Germany, France, Belgium, the Netherlands and Austria," he added. The airline flew 3.3m passengers in the quarter, up 70% from the same period last year. The company's cash reserves at the end of September were unchanged from the end of the previous quarter at E543.5m.<br/>

Kenya Airways and South African Airways have signed a “strategic partnership framework” as they work towards creating a pan-African airline group. The carriers describe the 23 November agreement as “a key milestone” on that journey, which they aim to complete “by 2023”. The partnership framework follows the “memorandum of cooperation” signed in late September, under which the carriers agreed to “foster the exchange of knowledge, expertise, innovation, digital technologies, and best practice between the two airlines”. Under the new framework, the carriers say they will “work together to increase passenger traffic, cargo opportunities, and general trade by taking advantage of strengths in South Africa, Kenya, and Africa”, without detailing the precise nature of the collaboration. The carriers note that they expect the partnership to “improve the financial viability of the two airlines”, as they “remain committed to their financial turnaround strategies”. The signing of the partnership was witnessed by Kenyan president Uhuru Kenyatta and his South African host, president Cyril Ramaphosa Both SkyTeam carrier Kenya Airways and Star Alliance operator SAA have faced financial struggles in recent years, compounded by the Covid crisis.<br/>

Singapore Airlines will operate daily flights under a quarantine-free travel scheme between Singapore and three major cities in India, marking the first scheduled flights between both countries in nearly two years. The move comes as Singapore adds India to a growing list of countries under the Vaccinated Travel Lane (VTL) scheme. Under the arrangement, fully-vaccinated travellers need not serve mandatory quarantine if they fly into Singapore on designated flights and take a pre-departure and post-arrival coronavirus test. India also opened its international borders for fully-vaccinated visitors, after shutting them amid the coronavirus virus. Releasing its schedules for VTL flights to India, SIA says its first flight will resume on 29 November. From 30 November, the airline will also ramp up capacity into other Indian cities, though these do not fall under the VTL scheme. <br/>

All Nippon Airways parent ANA Holdings will be raising close to Y150b ($1.3b) in funds, with a portion of proceeds used to fund its new low-cost, medium-haul airline unit. The company says in a 25 November stock exchange filing that it will be issuing 10-year, zero-coupon convertible bonds to raise the amount. It will use around Y50b by end-March 2024 as “investment in growth”, which includes the establishing of the third carrier. ANA disclosed plans for the third airline in October 2020. It will serve alongside mainline carrier ANA and low-cost unit Peach. The new airline, based on the existing Air Japan, will use 787s with 300 plus seats for low-cost, medium-haul flights to Southeast Asia and Oceania. ANA had said it is targeting to launch this third carrier by fiscal year 2022, which commences on 1 April 2022. Another Y70m will be used to redeem convertible bonds at maturity on 16 September 2022. The remainder will go towards long-term debt repayment by end-March 2024, the company adds. ANA Holdings reported an operating loss of Y116b for the six months to 30 September, cutting its red ink on the back of strict cost control measures. The group saw operating revenue for the period rise nearly 48% year on year to Y431b, helped by strong cargo demand. <br/>

There's been mixed reactions to how New Zealand's borders will reopen in 2022 amid the COVID-19 pandemic from two of the biggest names in travel in Aotearoa. On Wednesday, COVID-19 Response Minister Chris Hipkins announced the country's borders will open in stages across a three-month period from January. David Coombes, managing director Flight Centre Travel Group NZ, is excited the Government was able to give some clarity to New Zealanders and the travel industry; but suggested the reopening wasn't happening fast enough. "We do question why this action needs to wait until 2022, given the desperation of many families to reunite with their loved ones ahead of Christmas," Coombes said. Air New Zealand also welcomed the news saying it "will be saying 'kia ora' to all visitors who meet the Government's requirements for travel." "Today's announcement signals the beginning of the return to international travel. This is incredibly exciting news for New Zealanders at home and overseas and we can't wait to welcome our customers back on board," said the airline's Chief Customer and Sales Officer Leanne Geraghty. "We've kept our operation ready for this, so look forward to seeing the tens of thousands of Kiwis who'll be making plans to board our aircraft soon." However, the airline's excitement did come with a "but." "It would have been nice to reunite friends and families this side of Christmas," Geraghty added. Following the border announcement, Air NZ is readjusting its schedule. Quarantine-free 'green' flights from Australia and New Zealand from January 1 - 6 will be cancelled and customers will be accommodated on other services or have their fares placed into credit.<br/>