IATA says air carriers that participate in its operational safety audits (IOSA) had a 62 percent better accident rate than non-IOSA airlines through November 2013. Worldwide, about 65 percent of all commercial flights operate under the IOSA umbrella, including those of 149 airlines that are not IATA members, representing nearly 84 percent of the world’s air traffic. In Africa, which has the highest accident rate by region, only 14 percent of accidents involved IOSA-compliant operators.
Airlines will continue to enjoy ready access to financing for new aircraft acquisitions, as funding sources such as bonds grow in importance as options for financial support, according to Boeing’s seventh annual aircraft finance market forecast. The report, released in London on December 10, said that while export credit agency funding will decline in significance in the coming years, the industry will see a more even balance among carriers’ use of bonds, leases and loans from banks and capital markets.
Riding the favorable winds of increasing passenger traffic, slightly better fuel prices and revenues from ancillary services such as baggage fees, the world’s airlines should post record absolute profits in 2014, according to the International Air Transport Association (IATA). But some parts of the air transport system, particularly cargo and business-class passengers, remain at pre-recession levels.
The world’s airlines expect to see a 31-percent increase in passenger numbers between 2012 and 2017, according to a new forecast for the period issued Tuesday by the International Air Transport Association (IATA). The report shows that by 2017 total passenger numbers will rise to 3.91 billion from the 2.98 billion carried in 2012.
The Flight Operations Risk Assessment System (Foras) was created to quantitatively assess aviation risk factors with more than simple accident rates. As highlighted in the Flight Safety Foundation’s November 2013 AeroSafety World publication, the system breaks down risks into ever smaller elements to simplify analysis.
Strong wind accompanying record storms in Britain, which experts said produced the worst tidal surge in the North Sea for 50 years, forced several airline pilots to conduct go-around maneuvers as they attempted to land. One amateur video recorded two landing attempts (Emirates and Brussels Airlines) at Birmingham Airport in central England, where gusts exceeding 50 mph were reported.
October airline traffic statistics published by the International Air Transport Association (IATA) last week showed substantial growth in virtually every region of the world, as global revenue passenger kilometers rose 6.6 percent compared with the same month a year earlier and 5.2 percent over September’s results. Even the cargo market resumed its fragile recovery in October, generating a 4-percent increase in freight ton kilometers.
Talks between Cambodian telecommunications, banking and property tycoon Kith Meng and Philippine Airlines (PAL) over a new Cambodian flag carrier called Cambodia Air have intensified following their failure to realize plans to close on a deal on October 15.
On April 25, PAL’s board agreed to acquire a 49-percent stake in Cambodia Air, now solely owned by Meng’s company, Inter Logistics (ILC).
Keen to show his airline can operate as a profitable carrier amid assertions that it survives on the largesse of its government benefactors, Qatar Airways CEO Akbar Al Baker offered revealing insights at last month’s Dubai Airshow into some of the internal machinations and brinkmanship that shape aircraft purchase negotiations. The colorful and sometimes controversial Al Baker played coy about his interest in the 777X while fully intending to engage Boeing in serious negotiations that eventually led to a blockbuster sale.
Facing the prospect of increasing competition from European carriers, El Al Israel Airlines plans to launch a new low-fare brand named Up next March. Up will start by offering one-way introductory fares of $69 for departures from Israel to Prague and Budapest; and $99 to Berlin, Kiev and Larnaca, Cyprus.