Portuguese airline TAP posted a rare net profit in the third quarter on Wednesday on strong revenue and helped by currency hedging, but said visibility for next year remained low. The state-owned company, which is undergoing restructuring, reported a profit of E111m versus a loss of 134.5m a year earlier. TAP's operating revenue jumped to E1.1b from E444m a year earlier, predominantly driven by increased fares and higher capacity as demand for travel returned in force after the lifting of COVID restrictions, even amid galloping inflation. Recurring earnings before interest, taxes, depreciation and amortisation (EBITDA) of E280m were above pre-pandemic levels. "TAP is confirming its strong performance in the third quarter with all financial metrics above pre-crisis levels, despite further increased fuel costs," CEO Christine Ourmieres-Widener said.<br/>
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Italy plans to reset months of talks to find a buyer for its troubled airline ITA Airways, a decision that reopens a possible involvement of Germany’s Deutsche Lufthansa AG in the deal, according to people familiar with the matter. The new government led by Giorgia Meloni is set to restart talks with MSC Mediterranean Shipping Company SA and Lufthansa after a period of exclusive with a group led by Certares Management together with Delta Air Lines Inc. and Air France-KLM ended with no deal, the people added, asking to not be named as the plans are not public. The proposal to reopen the race between the two rival bids reflects the new government’s intention to seek a strong industrial partnership, rather than favoring a purely financial investment, the people said. Going back to the drawing board on the deal to sell the airline that emerged from the ashes of troubled former flag carrier Alitalia would allow the government to retain up to 49% of the company, they said. Talks with MSC and Lufthansa are expected to take place in coming weeks, they added. Keeping the airline in business has been a challenge for decades for Italian governments, and several efforts to engineer deals have failed, requiring the state to pour billions to keep it flying. “Lufthansa Group remains interested in the Italian market,” a spokesperson for the airline said Wednesday. “We are monitoring the further sale process of ITA and remain interested in a genuine privatization of the airline.” <br/>
During the weekend, Ethiopian Airlines increased its current operation out of Manchester International Airport to Addis Ababa Bole International Airport. The carrier has added a new fifth-freedom stop between these two destinations by launching commercial services between Manchester and Geneva International Airport, Switzerland. On October 30, Ethiopian Airlines increased its operation between Manchester and Addis Ababa to four flights per week, operating on Tuesdays, Thursdays, Saturdays, and Sundays. From this date, all flights from Manchester are operating via Geneva, Switzerland. The airline received a fifth freedom grant earlier this year, which allows it to carry passengers on this flight between two countries that are not Ethiopia, the UK, and Switzerland.<br/>
Tata Group-owned Air India will purchase all shares in joint venture AirAsia India and merge it with a low-cost carrier as part of the conglomerate's push to revamp its airline business into a more competitive player. Tata Group already owns an 83.67% stake in the carrier, and Air India will acquire the remaining interest for 1.5b rupees ($18m) from Malaysian airline group Capital A in a deal announced Wednesday. Capital A will focus its resources on Southeast Asia going forward. The plan is to merge AirAsia India with LLC operator Air India Express by the end of 2023, with all services to be offered under the Air India Express brand. The deal comes as Tata moves to consolidate its group airlines. In January, Tata completed its purchase of former national carrier Air India. The Competition Commission of India, equivalent to the US Federal Trade Commission, has approved the new plan for Air India to purchase all shares of AirAsia India. IndiGo, a low-cost carrier, accounted for 58% of the domestic air passenger market share in the July-September quarter. Domestic airline Vistara was next with 9.9% of the market, with Air India and AirAsia India following. Tata jointly owns Vistara with Singapore Airlines. The Singapore carrier said in October that it is considering a potential merger between Vistara and Air India.<br/>
Air New Zealand's biggest-ever jet dedicated to domestic flying has landed in Auckland, and will be in the skies above Aotearoa in just a few days. The A321neo will seat 217 passengers, 46 more than the current Air New Zealand domestic jets that fly around the country. That means staff will need to board the plane earlier than usual to ensure it can get away on time. "With the exciting introduction of the larger A321neo domestic aircraft, we'll commence boarding five minutes earlier and encourage all customers to be at the gate ready to board at minimum, 15 minutes before departure, to ensure an on-time departure," explained Leanne Geraghty Air New Zealand's Chief Customer and Sales Officer. The A321neo is a stretch version of the popular A320, and passengers can look forward to more fuel-efficient engines, a quieter ride and larger overhead lockers. 'Neo' stands for "new engine option" and is roughly 15% more fuel-efficient than comparable models. The A321neo was first introduced to Air New Zealand's fleet in 2018 and is used for international flying to places like Australia and the islands – although it occasionally pops up on the domestic network. These planes are equipped with WiFi and seatback screens for entertainment. However, the new A321s will be exclusively used for domestic and won't have extra features like WiFi or seatback screens.<br/>