While forecasting a narrower loss, JetBlue expects its annual revenue growth to rise, adjusting a 3% to 5% annual revenue growth forecast to a range of 4% to 5%. This comes as the U.S. carrier finds itself in the midst of a legal dispute with Spirit Airlines.

“Since late October, close-in bookings have outperformed expectations for both holiday peak and non-holiday travel periods,” JetBlue remarked in a regulatory filing on Thursday, justifying the narrower loss forecast.

U.S. airlines at large are expecting travel demand to remain resilient going into next year, dismissing concerns over potential demand vulnerability stemming from the impact of rising interest rates and rising prices on customers’ spending power.

The post JetBlue Stock Jumps Following Adjusted Forecast appeared first on theprimarymarket.com.

A summary of a Friday press conference on the website of CAAC News revealed the winter and spring season flight plan, with 96,651 domestic flights having been scheduled per week. Since the same period last year, 7,202 new weekly flights have been introduced following the opening of 516 new domestic routes.

While international flights to and from China are slower to rise, they are also on an upward trajectory. Weekly direct flights between China and the United States are expected to rise by 48 to 70.

The post Flights in China Expected to Surge Past Pre-Pandemic Levels appeared first on theprimarymarket.com.

Virgin Australia reported a statutory net profit after tax for the full year ended June 30, 2023, of A$129 million ($82.93 million). Last year, the airline suffered a loss of A$565.5 million.

Bain Capital, the owner of Virgin Australia, is looking to list Virgin on the Australian Securities Exchange next month, targeting an A$1 billion valuation. This comes after the company purchased Virgin Australia for A$3.5 billion including liabilities in 2020 after the airline was placed in voluntary administration.

The post Virgin Australia Gains First Profit in 11 Years on Travel Boom appeared first on theprimarymarket.com.

Last Wednesday, representatives from Wheels Up revealed that the company is doubtful of its ability to continue operations despite securing short-term funding from major U.S. carrier Delta Airlines. The Atlanta, Georgia-based airline revealed that its capital infusion in Wheels Up came in the form of a secured promissory note. Neither company disclosed the funding amount.

In addition to securing funding from Delta, Bain Capital, and MSD Capital, Wheels Up has implemented several cost-cutting measures in an effort to improve its financial situation. These include management changes, job cuts, and changes to private jet traffic, which soared during the pandemic and have since dropped in demand.

The post Wheels Up in Talks With Lenders Amid Cash Crunch appeared first on theprimarymarket.com.

With JetBlue in the process of acquiring Spirit Airlines, this low-cost airline and American Airlines began to wind down their Northeast Alliance on July 21 following a judge’s order that stemmed from competition concerns.

On Tuesday, JetBlue stated that its new full-year outlook reflects “a greater than expected shift of pent-up COVID demand to long-haul international markets which is pressuring demand for domestic travel during the peak summer travel period.”

Adjusted net income for the second quarter was $152 million, or 45 cents per share, far outpacing the loss of $153 million, or 47 cents per share posted a year earlier.

The post JetBlue Cuts Profit Forecast After American Airlines Deal Ends appeared first on theprimarymarket.com.

Chief Executive Tufan Erginbilgic stated that the company has made significant progress this year, referring to its rise in military spending and the recovery of its long-haul flying business. The company also underwent several operational improvements.

Now, the company expects to achieve a profit this year between 1.2 billion and 1.4 billion pounds ($1.6-1.8 billion). Its previous expectation was in the range of 800 million and 1 billion pounds.

“Despite a challenging external environment, notably supply chain constraints, we are starting to see the early impact of our transformation in all our divisions,” Erginbilgic commented on Wednesday.

The post Rolls-Royce Shares Jump as Company Raises Full-Year Forecast appeared first on theprimarymarket.com.

Airbus boosted its deliveries from 297 aircraft during the first six months of 2022. This year, the company is aiming to make a total of 720 deliveries

The performance of the aviation company is even more impressive considering that aerospace deliveries at large have been affected by supply chain issues while labor shortages stemming from the Covid pandemic persist.

Chief Commercial Officer Christian Scherer stated in June that while industry-wide issues continue to pose an obstacle, Airbus is beginning to experience a more “predictable” pattern in industrial economic conditions.

Airbus is set to report its first-half financial results on July 26.

The post Airbus First Half Deliveries Rise appeared first on theprimarymarket.com.

This comes after United Airlines canceled 19% of its scheduled flights after thunderstorms and equipment failures rocked operations at a U.S. Federal Aviation Administration (FAA) facility in Washington. The issue led to major delays for air passengers across the east coast of the U.S.

“While we work to control the things that are within our control, we must also do a better job of planning against the things that are outside our control so that we can be in a position to recover more quickly,” Kirby said, acknowledging the importance of contingency planning as U.S. air traffic looks bound to exceed pre-COVID levels.

In an effort to manage the boom in air travel demand, United Airlines is working with the Port Authority of New York and New Jersey to get more gates. This change would require some schedule changes on the part of the U.S. airline.

The post United Airlines Looks to Avoid Flight Disruptions Ahead of Travel Boom appeared first on theprimarymarket.com.

The company expects airlines to purchase 42,595 jets from now until 2042, thereby exceeding its previous 20-year forecast of 41,170 planes last year. This is still lower than the company’s projection of 43,610 jets in 2021 when Russian aircraft demand was included.

According to Boeing’s estimates, 32,420 of its narrowbody jets are expected to be sold through 2042, with the company predicting its 737 MAX to be particularly successful. In addition, the company expects to deliver 7,440 widebody planes, 1,810 regional jets, and 925 freighters.

Darren Hulst, Boeing’s vice president of commercial marketing, believes that demand will be driven by low-cost carriers looking to expand their fleet sizes.

“The end of the recovery has played out largely as we’ve expected, with a few different nuances and dynamics,” Hulst explained of the company’s performance during the post-pandemic travel industry boom. “I think we’ll again see how resilient the demand for air cargo is because it’s consistently around 3.5% to 4% growth,” he continued, airing his belief that air cargo demand will rise again following its ongoing growth hiatus.

The post Boeing Boosts Annual Outlook Amid Rising Demand appeared first on theprimarymarket.com.

“Travelers who haven’t booked their summer trips to Europe aren’t going to want to hear this… If you’re booking a European vacation now, you are definitely paying a premium for your procrastination,” Berg commented in an interview with Yahoo Finance Live.

Airfare from the U.S. to Europe costs $1,196 on average this summer, compared to just $500 in 2021. This is the highest average plane ticket price from the U.S. to Europe since 2018.

While London, Paris, and Rome remain popular travel destinations, Berg suggested that many tourists may decide to target alternative destinations for a more affordable vacation package. Berg mentioned Portugal as a personal favorite, explaining that the Iberian country is expected to remain cheaper than other European destinations over the next year and a half.

Berg added that in order to secure a reasonable vacation deal, travelers should consider embarking on their trip in early fall and planning three to four months in advance.

The post U.S. Travelers to Europe Expected to Pay a Premium, Economist Claims appeared first on theprimarymarket.com.

While forecasting a narrower loss, JetBlue expects its annual revenue growth to rise, adjusting a 3% to 5% annual revenue growth forecast to a range of 4% to 5%. This comes as the U.S. carrier finds itself in the midst of a legal dispute with Spirit Airlines.

“Since late October, close-in bookings have outperformed expectations for both holiday peak and non-holiday travel periods,” JetBlue remarked in a regulatory filing on Thursday, justifying the narrower loss forecast.

U.S. airlines at large are expecting travel demand to remain resilient going into next year, dismissing concerns over potential demand vulnerability stemming from the impact of rising interest rates and rising prices on customers’ spending power.

The post JetBlue Stock Jumps Following Adjusted Forecast appeared first on theprimarymarket.com.

A summary of a Friday press conference on the website of CAAC News revealed the winter and spring season flight plan, with 96,651 domestic flights having been scheduled per week. Since the same period last year, 7,202 new weekly flights have been introduced following the opening of 516 new domestic routes.

While international flights to and from China are slower to rise, they are also on an upward trajectory. Weekly direct flights between China and the United States are expected to rise by 48 to 70.

The post Flights in China Expected to Surge Past Pre-Pandemic Levels appeared first on theprimarymarket.com.

Virgin Australia reported a statutory net profit after tax for the full year ended June 30, 2023, of A$129 million ($82.93 million). Last year, the airline suffered a loss of A$565.5 million.

Bain Capital, the owner of Virgin Australia, is looking to list Virgin on the Australian Securities Exchange next month, targeting an A$1 billion valuation. This comes after the company purchased Virgin Australia for A$3.5 billion including liabilities in 2020 after the airline was placed in voluntary administration.

The post Virgin Australia Gains First Profit in 11 Years on Travel Boom appeared first on theprimarymarket.com.

Last Wednesday, representatives from Wheels Up revealed that the company is doubtful of its ability to continue operations despite securing short-term funding from major U.S. carrier Delta Airlines. The Atlanta, Georgia-based airline revealed that its capital infusion in Wheels Up came in the form of a secured promissory note. Neither company disclosed the funding amount.

In addition to securing funding from Delta, Bain Capital, and MSD Capital, Wheels Up has implemented several cost-cutting measures in an effort to improve its financial situation. These include management changes, job cuts, and changes to private jet traffic, which soared during the pandemic and have since dropped in demand.

The post Wheels Up in Talks With Lenders Amid Cash Crunch appeared first on theprimarymarket.com.

With JetBlue in the process of acquiring Spirit Airlines, this low-cost airline and American Airlines began to wind down their Northeast Alliance on July 21 following a judge’s order that stemmed from competition concerns.

On Tuesday, JetBlue stated that its new full-year outlook reflects “a greater than expected shift of pent-up COVID demand to long-haul international markets which is pressuring demand for domestic travel during the peak summer travel period.”

Adjusted net income for the second quarter was $152 million, or 45 cents per share, far outpacing the loss of $153 million, or 47 cents per share posted a year earlier.

The post JetBlue Cuts Profit Forecast After American Airlines Deal Ends appeared first on theprimarymarket.com.

Chief Executive Tufan Erginbilgic stated that the company has made significant progress this year, referring to its rise in military spending and the recovery of its long-haul flying business. The company also underwent several operational improvements.

Now, the company expects to achieve a profit this year between 1.2 billion and 1.4 billion pounds ($1.6-1.8 billion). Its previous expectation was in the range of 800 million and 1 billion pounds.

“Despite a challenging external environment, notably supply chain constraints, we are starting to see the early impact of our transformation in all our divisions,” Erginbilgic commented on Wednesday.

The post Rolls-Royce Shares Jump as Company Raises Full-Year Forecast appeared first on theprimarymarket.com.

Airbus boosted its deliveries from 297 aircraft during the first six months of 2022. This year, the company is aiming to make a total of 720 deliveries

The performance of the aviation company is even more impressive considering that aerospace deliveries at large have been affected by supply chain issues while labor shortages stemming from the Covid pandemic persist.

Chief Commercial Officer Christian Scherer stated in June that while industry-wide issues continue to pose an obstacle, Airbus is beginning to experience a more “predictable” pattern in industrial economic conditions.

Airbus is set to report its first-half financial results on July 26.

The post Airbus First Half Deliveries Rise appeared first on theprimarymarket.com.

This comes after United Airlines canceled 19% of its scheduled flights after thunderstorms and equipment failures rocked operations at a U.S. Federal Aviation Administration (FAA) facility in Washington. The issue led to major delays for air passengers across the east coast of the U.S.

“While we work to control the things that are within our control, we must also do a better job of planning against the things that are outside our control so that we can be in a position to recover more quickly,” Kirby said, acknowledging the importance of contingency planning as U.S. air traffic looks bound to exceed pre-COVID levels.

In an effort to manage the boom in air travel demand, United Airlines is working with the Port Authority of New York and New Jersey to get more gates. This change would require some schedule changes on the part of the U.S. airline.

The post United Airlines Looks to Avoid Flight Disruptions Ahead of Travel Boom appeared first on theprimarymarket.com.

The company expects airlines to purchase 42,595 jets from now until 2042, thereby exceeding its previous 20-year forecast of 41,170 planes last year. This is still lower than the company’s projection of 43,610 jets in 2021 when Russian aircraft demand was included.

According to Boeing’s estimates, 32,420 of its narrowbody jets are expected to be sold through 2042, with the company predicting its 737 MAX to be particularly successful. In addition, the company expects to deliver 7,440 widebody planes, 1,810 regional jets, and 925 freighters.

Darren Hulst, Boeing’s vice president of commercial marketing, believes that demand will be driven by low-cost carriers looking to expand their fleet sizes.

“The end of the recovery has played out largely as we’ve expected, with a few different nuances and dynamics,” Hulst explained of the company’s performance during the post-pandemic travel industry boom. “I think we’ll again see how resilient the demand for air cargo is because it’s consistently around 3.5% to 4% growth,” he continued, airing his belief that air cargo demand will rise again following its ongoing growth hiatus.

The post Boeing Boosts Annual Outlook Amid Rising Demand appeared first on theprimarymarket.com.

“Travelers who haven’t booked their summer trips to Europe aren’t going to want to hear this… If you’re booking a European vacation now, you are definitely paying a premium for your procrastination,” Berg commented in an interview with Yahoo Finance Live.

Airfare from the U.S. to Europe costs $1,196 on average this summer, compared to just $500 in 2021. This is the highest average plane ticket price from the U.S. to Europe since 2018.

While London, Paris, and Rome remain popular travel destinations, Berg suggested that many tourists may decide to target alternative destinations for a more affordable vacation package. Berg mentioned Portugal as a personal favorite, explaining that the Iberian country is expected to remain cheaper than other European destinations over the next year and a half.

Berg added that in order to secure a reasonable vacation deal, travelers should consider embarking on their trip in early fall and planning three to four months in advance.

The post U.S. Travelers to Europe Expected to Pay a Premium, Economist Claims appeared first on theprimarymarket.com.