Southwest named a new executive to oversee technology investments and data platforms, just over a month after the carrier suffered from an operational meltdown that forced it to cancel more than 16,700 flights. Lauren Woods, who has been with the company since 2010, was named chief information officer and senior vice president of technology, taking over for Kathleen Merrill, according to a statement Wednesday. Merrill had decided in September to shift to an executive adviser role early this year, Southwest said. While the change was in progress prior to the carrier’s recent issues, it puts a new leader in charge of $1.3b in technology investments and upgrades planned for 2023. Southwest has come under scrutiny from US regulators, lawmakers and passengers over the late-December breakdown, which has been attributed in part to outdated systems. The cancellations mounted after a winter storm that snarled flights and left crews and planes scattered across 50 airports overwhelmed the airline’s scheduling system, forcing it to cancel most flights to reset its network. The airline expects lost revenue and costs for reimbursements to exceed $1b. Woods will focus in part on transformation of Southwest’s enterprise data platforms that drive the company’s data science, analytics, optimization and system integrations, the carrier said. <br/>
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Icelandair Group has turned in a full-year operating profit of $18.8m, after keeping its fourth-quarter operating loss to $16.7m. It generated revenues of $1.26b last year including $291m in the final quarter, during which its capacity had recovered to being 5% down on pre-crisis levels. Icelandair Group says its Q4 performance was its best since 2015. Its full-year expenditure reached $1.12b with fuel costs accounting for one-third of expenses, compared with 20% the year before, owing to a 77% rise in fuel prices. Higher finance costs meant the company broke even at pre-tax level and ended the year with a net loss of $5.8m. But Icelandair Group insists its prospects for 2023 are “favourable”, pointing out that it will operate the largest passenger flight schedule in its history – comprising 54 destinations, including four new ones. “Near-term booking flow is strong, and booking patterns are gradually returning to normal,” it states. Icelandair Group will use 40 aircraft on its summer route network – an increase of five. “Significant [earnings] improvement shows that our business model has proven its worth yet again,” says CE Bogi Nils Bogason. “We are back on track, stronger than ever.” Icelandair Group says it experienced a “turnaround year” in 2022, using flexibility to increase capacity rapidly in order to meet demand recovery. The company increased its Boeing 737 Max fleet to 16 aircraft last year, after taking delivery of seven of the type. It states that the “steep” fleet modernisation is evidence of a commitment to reducing carbon emissions.<br/>
Ryanair flew 11.8m passengers in January, the largest ever for the month, as it continues to rapidly grow beyond pre-COVID capacity, company data showed on Thursday. The Irish airline, Europe's largest by passenger numbers, saw an increase of 300,000 passengers from December to January, the first time in at least a decade that numbers increased between those months. Its previous January passenger record was 10.8m in 2020. Ryanair planes were on average 91% full in January, down from 92% in December, the data showed.<br/>
Looking at packed airports rather than the airline's debt and his past losses, El Al's controlling shareholder could increase his stake in the company to 75%. The past three years have been stormy for El Al, which was on the threshold of collapse following the outbreak of the Covid pandemic, which virtually closed down all its operations and required a state-backed rescue plan, including the injection of capital and a streamlining plan with hundreds of layoffs. US Jewish businessman Kenny Rozenberg, who has made his fortune from nursing homes, rehabilitation and medical treatment centers 'seized' the opportunity and took control of the airline during the crisis. After the previous controlling shareholder, the Mozes Borovitz family's Knafaim Holdings, gave up on the company, Rozenberg's Kanfei Nesharim replaced them through a share offering in which it injected NIS 360m into the company, while the state injected an additional NIS 120m. Rozenberg has continued to increase his gamble on the airline, and over 30 months has invested roughly NIS 800m in the purchase of shares, warrants and providing an owner loan to El Al, and he currently owns about 45% of the company's shares (while the state owns 13% of the shares). It seems that this is not sufficient for him. Earlier this week Rozenberg's Kanfei Nesharim submitted an offer to purchase up to 5% of El Al shares for NIS 36m, which would increase its holding to 50%. The state also lost on its investment in El Al. Story has more.<br/>