Aena, the Spanish airport operator, raised its forecast for 2026 passenger traffic growth to 3% on 'Wednesday. This was due to higher first-half profits and a surge in tourist arrivals as Middle East unrest diverted travelers to destinations along the southern Mediterranean. Aena predicted a 1.3% annual passenger traffic increase for 2026, up from 3.9% in 2017. Aena released a statement that said, "Since the beginning of (Strait of Hormuz), we have observed an increase in travel demand to Spain. It is perceived as being a safe destination for tourists." In the first six months of this year, the company's...

Portugal will?receive binding offers on Wednesday from 'Air - France-KLM and Lufthansa to acquire a minority stake of TAP. This is the beginning of the final battle over one Europe's last remaining independent flag carriers. Lisbon has relaunched the long-delayed TAP privatisation, with a view to selling a 44.9% share to a strategic partner that can boost TAP's global reach and competitiveness. TAP should be part of an airline group. The government says that EU rules on state aid prevent the company from receiving further public funding, leaving it vulnerable to global shocks in future. Air France-KLM and Lufthansa were...

As cross-border ecommerce loses steam, the global race to develop artificial intelligence is changing Asia's air freight map. Airlines are redesigning their networks to focus on growing semiconductor manufacturing centers. Airlines and logistics companies claim that unlike the parcel boom following the pandemic, the 'demand for AI infrastructure' is backed by multi-year orders of advanced memory chips and processing units and hundreds of millions of dollars in?planned? investment into data centres. Moreover, the tighter import regulations in the U.S.A. and Europe that have been affecting the recent growth of the e-commerce industry are dampening it. When Xeneta's freight analytics company...

American Airlines and its regional carriers resumed flights on Tuesday evening after a short nationwide suspension of departures due to an IT problem, the airline announced. Federal Aviation Administration (FAA) issued a ground-stop for American Airlines flight due to an IT outage which began around 6:30 pm. ET (2230 GMT), and was cancelled at 7:18 pm. The issue caused hundreds of delays as planes couldn't leave until it was resolved. This happened at a time when many U.S. East Coast airports were experiencing major delays and ground stoppages due to thunderstorms. American Airlines said in a press release that "systems...

Early earnings reports show how travel companies, from hotel chains and cruise operators, have relied upon resilient business demand from Americans as well as a short-term boost provided by the World Cup to offset the effects of the Middle East war. Fuel costs have increased and international travel has been disrupted by the conflict. However, earnings reports released on Tuesday indicate that many consumers are not deterred by economic uncertainty or higher travel costs. The founder of GetCruiseInfo.com, Brian Rooney, said that "JetBlue Hilton and Royal Caribbean have all shown continued strength with higher-valued products. This suggests that travelers still...

Boeing reported on Tuesday a higher-than-expected quarter loss, after taking a charge of $280 million on its troubled Air Force One Replacement Program. However, the company's turnaround plans have gained momentum. It took on the cost to deliver the two U.S. Presidential planes that were delayed in 2028. This contributed to a net loss of $428 million for the second quarter. According to LSEG, the core loss per share was 76 cents. This is a lower figure than the 30 cents analysts expected, but still higher than the $1.24 core loss per shares in the same time period last year....

Airbus has completed a marathon flight lasting more than 24 hours. The A350 jet, which is being 'developed for record-beating commercial flights' touched down in France on Tuesday. The test is a crucial step in Qantas Project Sunrise. It aims to launch one of the longest commercial passenger flights and revolutionize long-haul travel, by eliminating stopovers from Australia to Europe. The A350-1000ULR, specially adapted for the Australian airline's Sydney-London nonstop route is due to debut in 2027. Airbus has been testing the aircraft for two months since June. Airbus said the aircraft, which has a specially-designed extra fuel tank, was...

Boeing reported on Tuesday a larger than expected quarterly loss after taking a $280-million charge on its troubled Air Force One Replacement Program, but it generated positive free cash flow due to the progress of its turnaround plans. It took a 'charge' due to higher engineering cost to ensure that it delivered the two delayed U.S. Presidential plane replacements by 2028. This contributed to a net loss of $428 million for the second quarter. According to LSEG, the core loss per shares of 76 cents is worse than analysts' average expected loss of 30 cents per share, but narrower than...

JetBlue, the U.S. airline, reported an even bigger?loss in its second quarter on Tuesday. This was due to a'surge' in fuel prices after the war in Iran curbed oil supplies. The airline also announced a?long-term profit target of $1.00 per share by 2028. It cited benefits from its recent strategic overhaul. After the announcement of results, shares were up by about 1%. The Middle East conflict between the U.S. and Israel, as well as?Iran, has caused airlines to have difficulty in accurately forecasting earnings and jet fuel costs which make up roughly one-fourth of their operating expenses. After a June...

Singapore Airlines reported its first net loss since 2022 on Tuesday, due to losses at its 'associate Air India' and higher jet fuel costs because of the Middle East conflict. The flag carrier of the city-state posted a loss of S$76.79million ($58.79million) for three months ending June 30 compared to a profit last year of S$186.79million. The last time SIA posted a quarterly loss, it was during the pandemic in the fourth quarter of FY2021/22, which ended on March 31, 2022. This compares to the LSEG's estimate of a loss at S$4.3m. The airline's record revenue for the quarter was...

French jet engine maker Safran raised financial targets after posting stronger-than-expected ?first-half profits on Tuesday, driven by demand for spare parts on the widely ?used engines it supplies jointly ?with GE Aerospace. The French company said that aftermarket demand was a major factor in its record operating margin for the first half of 2018.4%. CFM, by far the largest jet engine manufacturer in the world by number of engines sold, reaps maintenance profits on its CFM56 jets, which continue to power thousands of aircraft despite the recent LEAP being used for narrow-body plane deliveries. Safran's?mid-year operating profit increased 29% to...

French jet engine maker Safran joined its partner ?GE Aerospace in raising financial targets after ?posting stronger-than-expected first-half profits on Tuesday. The French company said that strong demand for spares contributed to a first-half operating profit margin record of 18.4%. CFM, which is the largest jet engine manufacturer in the world by?numbers of units sold?, reaps maintenance profits on its CFM56 engines. These engines continue to power thousands planes, even though they have been replaced by the more recent LEAP jet engine for current narrow body deliveries. Safran's mid-year operating profit increased 29% to EUR3.24 billion ($3.68 billion), and revenue...