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Air Canada has invested C$6.75m to support nascent technology that could potentially pull carbon from the atmosphere at an industrial scale. The investment loan will be used to advance carbon-capture technology being developed by Canadian climate solutions company Carbon Engineering, Air Canada said on 17 November. It is also part of the carrier’s plan to reduce greenhouse gas (GHG) emissions from its operations. “We remain focused on seeking innovative, long-term, sustainable GHG emissions reduction solutions for aviation, and carbon capture is one we have outlined in our strategy to achieving net-zero GHG emissions by 2050,” says Michael Rosseau, Air Canada’s chief executive. “Last year, we became the first Canadian airline to sign [a memorandum of understanding] with CE to explore carbon capture scalability and other initiatives for our industry.” British Columbia-based CE’s direct air capture technology – which remains in development – uses large fans to pull in air and a series of chemical reactions to extract CO2, releasing the rest of the air back into the atmosphere. To bring the technology to scale, CE is engineering facilities capable of capturing 1m tonnes of carbon annually. The captured CO2 can be reused in helping produce sustainable aviation fuel or be stored underground in “geologic reservoirs to provide carbon dioxide removals that can used to offset GHG emissions”, Air Canada says. The C$6.75m investment in CE comes from Air Canada’s C$50m investment fund to support new technologies under its climate action plan.<br/>

Copa Holdings, the parent company of Panama’s Copa Airlines posted stronger Q3 earnings as passengers returned to air travel in greater numbers. The Panama City-headquartered carrier said on 16 November that revenue rose to $809m in Q3 2022, driven primarily by higher passenger revenue. That’s up 14.3% from $708m the airline reported in Q3 2019. Profit rose to $116m for the quarter, up 11.5% from $104m during the same quarter in pre-pandemic 2019. “After the losses related to the Covid pandemic, we have seen a steady improvement in our financial results,” Copa says. “The company has a proven and very strong business model, which is built on operating the best and most convenient network for intra-Latin America travel.” Panama CIty’s advantageous geographic position directly between the north and south American continents, low unit costs, best on-time performance, and a strong balance sheet have helped the carrier recover from the two-year Covid-19 pandemic. “Going forward, the company expects to leverage its strong balance sheet, leading liquidity position, and lower cost base to continue strengthening its long-term competitive position by implementing initiatives that will further reinforce its network, product, and cost competitiveness.”<br/>

HDC Hyundai Development Company and Mirae Asset Securities are not entitled to be refunded the combined 250b won ($190m) they had paid previously for their acquisition of Asiana Airlines from its parent company, Kumho E&C, which eventually ended in failure, according to a court ruling, Thursday. The Seoul Central District Court accepted the request from Asiana and Kumho to refuse the refund to HDC and Mirae Asset from the escrow account. The justice also ordered the defendants to pay a combined 1.5b won to the plaintiffs in compensation for their breach of contract. HDC unveiled its plan to lodge an appeal against the recent ruling, claiming that its appeal is intended to protect its shareholders and stakeholders. "It is regrettable that the court did not take into account negative effects from the seller's fault," the company said in its press release. Asiana welcomed the court's ruling. "HDC should accept the court decision and take follow-up measures in compliance with the ruling," the air carrier said. Their legal battle started two years ago after the HDC-led consortium, which had been selected as the preferred bidder for the Asiana takeover in November 2019, abruptly scrapped its plan to acquire the air carrier in September 2020, citing its snowballing debt. After hiring two of Korea's top law firms ― Yoon & Yang and Shin & Kim ― Asiana and Kumho filed the lawsuit in November 2020, claiming that the contract was canceled as HDC had remained reluctant to finish the deal. Story has details.<br/>

Tata Group is considering a plan to integrate its four airline brands under Air India, people with knowledge of the matter said, as the sprawling company prepares to rebuild its faltering aviation empire. India’s largest conglomerate is also considering scrapping the Vistara brand, which is Singapore Airlines Ltd.’s local affiliate in the South Asian nation, the people said, declining to be identified because the discussions are private. Singapore Airlines is evaluating the size of the stake it should take in the combined entity, one of the people said. Representatives for the Tata Group, Air India, Singapore Airlines, and Vistara didn’t respond to multiple requests for comment. Air India is gearing up for a revamp under its new owner Tata. The full-service carrier is considering ordering as many as 300 narrow-body jets, a transaction that would be one of the largest orders ever in commercial aviation history. Air India Chief Executive Campbell Wilson last month said the airline will triple its fleet of 113 aircraft over five years, with a “significant” increase in both narrow and wide-body aircraft. Air India is also in discussions to raise at least $1b in a funding round that could value the carrier at around $5b, other people familiar with the matter said in late September. The airline is planning to add 25 Airbus and five Boeing aircraft from lessors, starting in December.<br/>

Thailand's airlines are finally recovering with flights on the increase after the government allowed borders to open up to foreign tourists and business travelers. However, high oil prices and the weak Thai baht have pushed up costs and weighed down on the recovery. Airlines have suffered Q3 losses despite increased revenue. Thai Airways, posted a net loss of 4.8b baht ($135m) in Q3, but that was a fraction of the 40b baht lost in the same period of last year. Thai Airways said the impairment loss on assets was larger because of oil prices and the adverse exchange rate. Thai Air Asia also had a net loss of 4b baht in the quarter, double the 2b baht loss in the same period last year. Bangkok Airways posted the smallest loss with only 392m baht compared to 6.9b baht last year. "Their performances are better with more tourists coming in, but it is not good enough to generate aprofit," an analyst at Asia Plus Securities told NIkkei Asia. According to the Tourism Authority of Thailand (TAT), Thailand has welcomed 7.6m foreign tourists so far this year. That was well above 427,000 last year during the COVID-19 pandemic. TAT expects that up to 10m tourists overall this year, and is forecasting 18m in 2023. Thai Airways saw a 582% rise in revenue to 32.9b baht in the third quarter, up from 4.8b baht in the same period of last year. Air Asia's saw a 969% increase between the two periods, and Bangkok Airways 486%. Oil prices have meanwhile jumped 80% from an average of $81 per barrel last year to $146 per barrel in Q3, seriously eroding profitability. "We expect the Thai airline business to continue [its recovery] in the fourth quarter, which is the high season," said an analyst at Kasikorn Research Center. "But the business will not look as good as [before the] COVID pandemic until next year or the year after when tourism is expected to recover completely."<br/>

An Air New Zealand flight from Blenheim to Auckland has landed safely after a captain saw a flare in an engine, the airline has said. Fire and Emergency responded to reports of a plane engine fire at Auckland International Airport at 1.20pm on Friday. The plane has landed, and fire trucks are on the scene. Air New Zealand said the captain saw a flare from the right-hand engine as they approached Auckland. Emergency services were called to be on standby as per protocol, and the aircraft will be inspected by airline engineers before flying again, a spokesperson said. They said no other flights were impacted by the situation. An Auckland Airport spokesperson said all passengers had now left the aircraft. Police have been assisting Fire and Emergency with the situation. The situation comes after the fire light turned on in an Air Force aircraft on Thursday, and emergency services were called to Whenuapai Airport. There was no fire and an investigation has been launched into what may have occurred.<br/>