Daily2018-02-20
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Monday, February 21st, 2022

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Norwegian returns to profitability after massive restructuring

Norwegian Air (Norwegian) has reported its fourth-quarter 2021 and preliminary full-year 2021 financial results, revealing a pre-tax (EBT) profit of NOK 117 million for the fourth quarter compared to a loss of NOK 16.6 billion for the fourth quarter of 2020.

In the fourth quarter of 2021, 3.1 million passengers travelled with Norwegian, up from 0.6 million in the same period in 2020 and 2.5 million in the previous quarter. Production (ASK) was 4.6 billion seat kilometres, while passenger traffic (RPK) was 3.6 billion seat kilometres. The load factor increased to 77.0 percent, up from 52.4 percent for the same period in 2020 and 73.1 percent in the previous quarter. At the end of the fourth quarter 2021, the total operational fleet was made up of 51 aircraft. At the end of the fourth quarter 2021, cash and cash equivalents had increased to NOK 7.7 billion.

“I am pleased that we have been able to adapt to fluctuations quickly and efficiently, and that we can report a profit and an improved cash position in a quarter strongly affected by the omicron virus and government-imposed travel restrictions. I would also like to thank colleagues from across the airline for their continued dedication and hard work. We are looking forward to welcoming more customers on board heading into the busier spring and summer seasons, with a fleet increasing to 70 aircraft and over 270 routes on sale,” said Geir Karlsen, CEO of Norwegian. (£1.00 = NOK 12.21 at time of publication).

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Pel-Air awarded 12-year Ambulance Victoria fixed-wing tender

Regional Express (Rex) has reported that Ambulance Victoria and Pel-Air (Rex's subsiduary) have entered into
a contract for the latter to provide fixed-wing air ambulance services to Ambulance Victoria.
The contract, worth more than AU$300 million, has a 12-year operational phase beginning in January 2024.

The contract involves the supply of four fixed-wing aircraft, pilots and engineering support to enable the aerial transport of Ambulance Victoria medical personnel and patients throughout Victoria, into Tasmania, South Australia and southern New South Wales.

Pel-Air is the incumbent operator for the Victorian State Government for the past eleven years, after being awarded a similar contract in December 2009 to commence fixed-wing air ambulance services for Ambulance Victoria in July 2011. The four new aeromedical Beechcraft King Air aircraft will be delivered in 2022 and will undergo aeromedical modifications to meet the requirements of Ambulance Victoria.

CDB Aviation delivers first A320neo aircraft to flynas

CDB Aviation has announced the delivery of the first of up to five Airbus A320neo aircraft to new airline customer, flynas, the Saudi Arabia-based air carrier.

“This latest addition of the A320neo aircraft to flynas’ growing fleet advances its ambitious plans to expand the fleet and increase the scope of its offerings in line with the Vision 2030 programme,” denoted Patrick Hannigan, CDB Aviation’s Chief Executive Officer. “The Saudi market continues to bounce back strongly post-pandemic and flynas will be well-positioned to take advantage of significant pent-up demand.”

The first aircraft, with a capacity for 174 passengers, was delivered in Toulouse, France, as part of the companies’ purchase- and leaseback-agreements announced in late January 2022. CDB Aviation expects to take delivery of the remaining A320neo aircraft and lease them back to the carrier. 

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International tourists return to Australia after almost two years

Qantas flights from eight overseas destinations are touching down in Australia today, Monday February 21, bringing the first international tourists in almost two years and an eagerly anticipated boost for the country’s tourism industry.

The Qantas Group will fly more than 14,000 passengers into Australia this week as quarantine and border barriers for international tourists come down.

QF12 from Los Angeles was the first to land at 6.20 am and flights from other international destinations including Vancouver, Singapore and London will arrive into Sydney throughout the day. Jetstar’s first unrestricted international flight JQ18 will touch down in Melbourne from Phuket at 10.05 am and QF70 from Delhi to Melbourne will arrive at 1.35 pm.

Qantas Group CEO Alan Joyce said bookings had been strong since the Australian Government announced the country was opening to international visitors, and today’s arrivals will be the first of many. “It’s fair to say we’ve all been waiting a long time to welcome visitors back to Australia. The thousands of international tourists arriving this week and many more over the coming months will help kickstart the tourism industry which has done it tough for the past couple of years."

AviaAM Leasing delivers one more B737-800 BCF to Bluebird Nordic

AviaAM Leasing, a global aviation holding company engaged in tailored aircraft leasing and trading services, has delivered a second B737-800 Boeing Converted Freighter (BCF) to Bluebird Nordic – a rapidly growing Iceland-based cargo airline, offering ACMI and full-service cargo services. As both companies are part of Avia Solutions Group, a leading global aerospace services group, the strategic synergy between AviaAM Leasing and Bluebird Nordic allows the lessee to continue accomplishing ambitious expansion plans.

The B737-800BCF aircraft was converted to freighter configuration by Boeing at the Guangzhou Aircraft Maintenance Engineering Company (GAMECO) facility in Guangzhou, China. AviaAM Leasing plans to have 25 converted aircraft of different types in the upcoming four years.

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Atlas Air and Kuehne+Nagel enter into long-term agreement for two Boeing 747-8 freighters

Atlas Air has entered into a long-term, dedicated charter agreement to operate two of its new incoming Boeing 747-8 freighters on a global basis for Kuehne+Nagel, one of the world’s largest freight forwarders.

Atlas Air will commence operation of these aircraft for Kuehne+Nagel following their delivery from Boeing, with one expected in the third-quarter and the second in the fourth quarter of 2022.

“We are delighted to expand our partnership with Kuehne+Nagel by providing dedicated capacity for its growing global airfreight network,” said Atlas Air Worldwide President and Chief Executive Officer John W. Dietrich. “The Boeing 747-8F serves an incredibly important role in global airfreight, with advanced technology that allows for lower fuel consumption, higher capacity and unique nose-loading capability. We look forward to taking delivery of these two 747s and operating them for Kuehne+Nagel to support their network for years to come.”

Air Canada reports fourth-quarter and full-year 2021 financial results

Air Canada has reported its fourth-quarter and full-year 2021 financial results. The company reported fourth-quarter 2021 operating revenues of CA$2.731 billion, 30% higher than in the third quarter of 2021 and over three-times fourth quarter 2020 operating revenues. Fourth quarter 2021 operating loss of CA$503 million compared to an operating loss of CA$1.003 billion in the fourth quarter of 2020. Fourth quarter 2021 EBITDA, excluding special items, of CA$22 million compared to negative EBITDA (excluding special items) of CA$728 million in the same quarter of 2020.

Air Canada reported full-year 2021 operating revenues of CA$6.400 billion compared to 2020 operating revenues of CA$5.833 billion, while recording cargo revenues in 2021 of CA$1.495 billion compared to 2020 cargo revenues of CA$920 million. Full-year 2021 operating loss of CA$3.049 billion compared to an operating loss of CA$3.776 billion in 2020. Full-year 2021 negative EBITDA (excluding special items) of US$1.464 billion compared to negative EBITDA (excluding special items) of CA$2.043 billion in 2020.

Unrestricted liquidity of US$10.4 billion on December 31, 2021, practically unchanged from September 30, 2021, excluding funds that were available on September 30, 2021, under the financial package with the Government of Canada.
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Tamar Jorssen
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Email: tamar.jorssen@avitrader.com
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Tamar