Preventing Middle East carrier Qatar Airways (QR) from increasing its flight capacity is projected to result in a loss of over $500 million in annual tourism income for the Australian economy, as indicated by industry projections.
Finance
Air India (AI), under the ownership of Tata, has reportedly amassed total losses of around ₹14,000 crore by the end of FY23, as per individuals familiar with the situation.
GERMANY- On August 3, 2023, German flag carrier Lufthansa (LH) Group posted a record Q2 result amid strong travel demands.
In the first quarter of the fiscal year 2023-24 (FY24), India’s largest carrier IndiGo (6E), owned by InterGlobe Aviation [NSE: INDIGO], surged into profitability, achieving an all-time high quarterly net profit of Rs 3,090.6 crore.
Industry insiders suggest airlines may face a doubling of insurance premiums due to recent war-related losses, leaving them with no choice but to pay higher costs to protect against future damages.
The leading aerospace company, Boeing [NYSE: BA], has announced the second quarter results for 2023, along with some good news related to the 737 and 787 production ramp-up.
Heathrow Airport (LHR) has kicked off 2023 on a strong note, witnessing resilient demand and exceptional service.
Qantas (QF), the national carrier of Australia, is making a renewed effort to remind Australians about the approximately $400 million in travel credits that remain unused with the airline since the COVID-19 era.
In the three months ending June, Ryanair (FR) achieved a noteworthy profit of €663 million after taxes, attributing the impressive performance to a robust Easter season and an additional UK public holiday in May.
A resolution professional overseeing the insolvency process for Go First (G8) has initiated the next phase by inviting an Expression of Interest (EOI) for the sale of the carrier, as reported in an advertisement in ET on Monday.