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☆ Major airlines suspend flights to Tel Aviv after Hamas attack
▼ + stars: | 2023-10-09 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +2 min

Major airlines have canceled flights to and from Tel Aviv. AdvertisementAdvertisementMajor airlines around the world have suspended flights to and from Tel Aviv after Palestinian militant group Hamas launched an unprecedented attack on Saturday and fired thousands of rockets into central and southern Israel, resulting in hundreds of casualties. American Airlines, United Airlines, Lufthansa, Virgin Atlantic, Wizz Air, EasyJet, Korean Air, and Cathay Pacific are among those who have canceled flights to Ben Gurion Airport in Tel Aviv – Israel's only international airport. Israeli Prime Minister Benjamin Netanyahu has since declared a state of war, and Israel has launched retaliatory attacks on Hamas. The following airlines have confirmed online or in statements to Insider that they have suspended flights to Tel Aviv:

Persons: Benjamin Netanyahu, —, Ben Gurion Organizations: Hamas, Saturday, Service, American Airlines, United Airlines, Lufthansa, Virgin Atlantic, Wizz, Korean Air, Cathay, Ben Gurion, Ben, FAA, British Airways, AL Airlines, Israel Defence Forces Locations: Tel Aviv, Palestinian, Israel, Korean, Cathay Pacific, Ben, San Francisco, Gaza, El Al

Air France-KLM has tended to let airlines it invests in keep their operations and branding. With the process still in its infancy, Air France-KLM has a chance to make a pitch to TAP now off the back of SAS. LONG FIGHT AHEADThere are remaining challenges for Air France-KLM as it looks to clear regulatory hurdles with SAS, including approval from American and European policymakers. Europe's airline industry has a history of cultural and political barriers to smooth integration, even within Air France-KLM itself. Air France-KLM is a member of the rival SkyTeam alliance.

Persons: Paris Charles de, Charles Platiau, IAG, James Halstead, Jacob Gronholt, Pedersen, Tim Hepher, Matt Scuffham, Sharon Singleton 私 Organizations: Air France Boeing, Paris Charles, REUTERS, France, KLM, TAP, TAP Portugal, Lufthansa, LONDON, Air, Scandinavia's SAS, Ryanair, Wizz, Air France, IAG, Tuesday's SAS, SAS, Star Alliance, Reuters, Apollo Global Management, Union Locations: Paris, Paris Charles de Gaulle, Roissy, France, LISBON, Air France, Europe, Air, Danish, Swedish, Spanish, Portugal, Northern Europe, TAP's, Portuguese, U.S, Lisbon, Porto, Iberia, South America

RTX said on Monday it would have to pull 600 to 700 of its Pratt & Whitney Geared Turbofan (GTF) engines from Airbus A320neo jets for quality inspections over the next three years. The engine issue was first disclosed in July, but RTX made the extent of the problem clearer on Monday. The announcement caused waves up and down the industry, from component manufacturers like Japan's Kawasaki Heavy Industries to airline carriers like Germany's Lufthansa that rely on the popular Airbus jets. In July, RTX said microscopic contaminants were found in a powdered metal used in high-pressure turbine discs that are part of the GTF engine's core. RTX is one of two manufacturers of engines for the popular narrowbody Airbus A320neo, the other being CFM International, a joint venture between GE (GE.N) and Safran (SAF.PA).

Persons: Benoit Tessier, RTX, Guillaume Faury, Ken Herbert, Japan's IHI, Safran, Valerie Insinna, Rajesh Kumar Singh, Abhijith, Aniruddha Ghosh, Mehr Bedi, David Gaffen, Arun Koyyur Organizations: Raytheon Technologies Corporation, International Paris Air, Le, REUTERS, Aerospace, Airbus, Pratt & Whitney, Washington D.C, Japan's Kawasaki Heavy Industries, Lufthansa, Raytheon, United Technologies, Capital, AIRLINES, HIT Aerospace, London, Melrose Industries, Kawasaki Heavy Industries, Aero, Air New Zealand, Singapore Airlines, Wizz, Airbus A320neo, CFM International, GE, Thomson Locations: Le Bourget, Paris, France, Washington, RTX, New Delhi, Bengaluru

☆ Air New Zealand sees 'significant' hit to flight schedule from RTX engine issue
▼ + stars: | 2023-09-11 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +2 min

REUTERS/Loren Elliott(Reuters) -Air New Zealand on Tuesday warned that inspections of RTX’s Pratt & Whitney engines would have a “significant” impact on its flight schedule from next year. “This issue will further reduce engine availability and is expected to have a significant impact on the airline’s schedule from January 2024,” Air New Zealand said in a statement. Air New Zealand has 16 A320neo jets in its fleet of 106 aircraft, servicing Australia and the Pacific Island markets and, to a much lesser extent, the domestic market. Major customers that took delivery of affected A320neo jets include Spirit Airlines, JetBlue Airways, Hawaiian Airlines and Wizz Air, according to aviation data provider Cirium. Hungary’s Wizz Air, one of Europe’s largest lost-cost airlines, on Monday said its capacity could be reduced by 10% in the second half of 2024 as a result.

Persons: Loren Elliott, RTX’s Pratt, Greg Hayes Organizations: Air, Sydney Airport, REUTERS, Reuters, Zealand, Whitney, Airbus, ” Air, Air New, Pacific, Spirit Airlines, JetBlue Airways, Hawaiian Airlines, Wizz Locations: Zealand, Sydney, Australia, Air New Zealand

Visitor passes the Raytheon Technologies Corporation (RTX) logo at the 54th International Paris Air Show at Le Bourget Airport near Paris, France, June 22, 2023. In July, RTX said a rare powder metal defect could lead to the cracking of some engine components and called for accelerated inspections affecting 200 engines by mid-September. Repair work that CEO Greg Hayes had initially expected would take 60 days is now projected to last up to 300 days per engine. An average of 350 jets could be grounded per year through 2026, with as many as 650 jets sitting idle in the first half of 2024. Disclosing higher-than-expected gross costs of $6-7 billion for dealing with the problem, RTX said it expected an up to $3.5 billion pre-tax hit to profits over the next several years.

Persons: Benoit Tessier, Pratt & Whitney, RTX, Greg Hayes, Safran, Hayes, Germany's, Robert Stallard, Valerie Insinna, Abhijith, Tim Hepher, Arun Koyyur, Nick Zieminski, Grant McCool Organizations: Raytheon Technologies Corporation, International Paris Air, Le, REUTERS, Pratt &, RTX Corp, Airbus, Pratt, Raytheon, GE, CFM, Boeing, Aero, Germany's Lufthansa, AIRBUS, U.S, Spirit Airlines, JetBlue Airways, Hawaiian Airlines, Jefferies, Vertical Research Partners, Thomson Locations: Le Bourget, Paris, France, Clayville , New York, Washington, Bengaluru

☆ 'Beat factor': Bank of America names top out-of-consensus global stocks to buy. Here are 12 of them
▼ + stars: | 2023-08-17 | by ( Lucy Handley | ) www.cnbc.com time to read: +1 min

Bank of America named a number of buy-rated European stocks its analysts are most positive on. The bank ranked stocks based on "beat factor" — its analysts' most out-of-consensus stock ideas based on price objectives and earnings estimates — in its Aug. 11 research note. The bank is 6% above consensus on the company, in terms of earnings per share for the 2023 fiscal year. Banks on BofA's beat list include Dutch firm ING and French company BNP Paribas . Small and midsized companies BofA also named several small-to-midsized firms on a list of European Beat Factor Top 10 stocks, all of which it is buy-rated on.

Persons: Banks, BofA Organizations: of America, Defense, Thales, ING, French, BNP, Smiths Group, Logitech, Wizz

☆ Airlines are scrambling to find spare parts after a major engine manufacturer issued a recall
▼ + stars: | 2023-08-14 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

And Hawaiian Airlines' CEO said it had "spare support" including from P&W. Airlines are scrambling to find spare parts due to an engine recall which threatens to cancel flights, the Financial Times first reported. JetBlue, Spirit Airlines, Hawaiian Airlines, and Wizz Air are among the fleets which will be affected, and they've been updating investors on how they plan to deal with the disruption. Peter Ingram, the CEO of Hawaiian Airlines, told investors it had "spare support" from engines returning from the shop, or spares "supplied by Pratt & Whitney to support the operating carriers." Spirit, JetBlue, and Hawaiian Airlines did not immediately respond to Insider's request for comment, sent outside US working hours.

Persons: Pratt, Whitney, & Whitney, Joanna Geraghty, Peter Ingram, Pratt & Whitney, Wizz, RTX Organizations: Airlines, Financial Times, JetBlue, Spirit Airlines, Hawaiian Airlines, Wizz, &, Airbus, Pratt &, Reuters, Pratt, Whitney

International travel reached around 90% of pre-pandemic levels this year, according to the International Air Transport Association. Those trends lifted quarterly earnings of travel companies, with cruise operators like Royal Caribbean (RCL.N) reporting record results in recent weeks. Ticket prices, which in some cases have increased by double-digit percentages since the pandemic, are unlikely to plummet. She expects air fares on long-haul international routes to remain high until supply outpaces pre-pandemic levels, demand normalizes and jet fuel prices decline further. International inbound vs outbound in the U.S this yearAverage domestic airfare is currently $246 round-trip, down 8% from 2022, according to travel booking app Hopper.

Persons: Dan McKone, Amadeus, Jozsef Varadi, Hayley Berg, Hopper, that's, Glenn Fogel, Kathleen Oberg, Joanna Plucinska, Rajesh Kumar Singh, Doyinsola, David Gaffen, Matthew Lewis Organizations: International Air Transport Association, Consulting, Royal, Booking Holdings, Marriott, Lufthansa LHAG.DE, United Airlines, Wizz, Reuters, Holdings, International, U.S . National Travel, Tourism Office, British Airways, IAG, Thomson Locations: CHICAGO, Southern Europe, Britain, France, United States, Germany, Singapore, Royal Caribbean, Manila, Hong Kong, Taipei, Tokyo, Europe, Asia, COVID, U.S, Canada, London, Chicago, New York, Bengaluru

[1/2] Model of a Pratt & Whitney GTF engine is displayed at the 54th International Paris Air Show at Le Bourget Airport near Paris, France, June 20, 2023. Hawaiian Airlines warned it might have to adjust its capacity, but said it was too early to assess the impact. Spirit Airlines previously cut 2023 capacity estimates due to a lack of working GTF engines. A spokesperson said the New York-based carrier was working with Pratt to assess the impact of the latest problem. In a regulatory filing, the company previously warned it was "vulnerable to significant problems" associated with Pratt & Whitney's GTF engines.

Persons: Pratt & Whitney, Benoit Tessier, Pratt, Addison Schonland, RTX, Schonland, Peter Ingram, Scott Haralson, Whitney's, Wizz, Rajesh Kumar Singh, Tim Hepher, Valerie Insinna, Ben Klayman, Jamie Freed Organizations: Pratt &, International Paris Air, Le, REUTERS, Airline, Pratt & Whitney, Pratt, Airbus, Carriers, Spirit Airlines, JetBlue Airways, Hawaiian Airlines, Wizz, JetBlue, Thomson Locations: Le Bourget, Paris, France, PARIS, Pratt, Florida, New York, New York City, Chicago, Washington

☆ More potential travel disruption as hundreds of Airbus jets to be inspected after Pratt & Whitney engine recall
▼ + stars: | 2023-07-26 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

1,200 Pratt & Whitney engines on Airbus A320neo jets will need to be removed for inspection. JetBlue, Spirit Airlines, and Wizz Air are among the airlines to be impacted. The company said a "rare condition" contaminated the powder metal used to make "certain engine parts" and it could cause cracks to form on critical engine parts, per The Wall Street Journal. Those Pratt & Whitney engines are used on about 40% of the twin-engine Airbus A320neo jets, per the Journal. An Airbus spokesperson said the company is working with its customers and Pratt & Whitney to minimize the disruption and implement the required inspection plans.

Persons: Greg Hayes, Pratt, Chris Calio, Calio, France24 Organizations: Pratt & Whitney, Airbus, JetBlue, Spirit Airlines, Wizz, Aerospace, RTX, Street, Reuters, Whitney, Pratt, Wizz Air, Boeing, Paris Air

Microscopic contaminants were found in a metal used in the engine's high-pressure turbine discs - part of the engine core. In an interview, Chief Executive Greg Hayes acknowledged the airlines' frustration over a spate of problems with the Geared Turbofan (GTF) engines over the last seven years. While the latest GTF issue could be the last straw for some, we suspect that the negative (share price) response is overdone". Low-cost Indian carrier Go First, which plunged into financial crisis this year, blamed "faulty" Pratt & Whitney engines for the grounding of about half its 54 Airbus A320neos. Announcing quarterly earnings on Tuesday, RTX increased its 2023 sales expectation from $72 billion to $73 billion to $73 billion to $74 billion.

Persons: Whitney, Pratt, Greg Hayes, Safran, RTX, Robert Stallard, Wizz, Hayes, Pratyush Thakur, Valerie Insinna, Mike Stone, Susan Mathew, Rajesh Singh, Tim Hepher, Shounak Dasgupta, Sharon Singleton, Nick Zieminski Organizations: Pratt, Airbus, U.S, RTX Corp, Raytheon Technologies, CFM International, GE, Reuters, Research, Spirit Airlines Inc, JetBlue Airways, Wizz, Thomson Locations: Paris, Bengaluru, Washington, Chicago

While global supply networks recover from the pandemic shock, fresh impetus is coming from tougher environmental standards, which drive companies to invest in new technologies to reduce their and their suppliers' emissions. "So in battery, steel, aluminum and cast iron we will only source green materials and technologies by 2030," Foller told Reuters. The foundation told Reuters it would also consider further investments in producers of steel, construction and green aluminium produced with hydropower or from recycled materials. Scania said that following its 10 million euro ($11.15 million) seed investment in H2GS in 2021, it has entered a steel supply agreement from 2027. While companies will keep investing in their suppliers in the short to medium term, the market will eventually reach saturation, said Jon Chadwick, global energy transition lead at PricewaterhouseCoopers.

Persons: Andreas Follér, Foller, Rebecca Campbell, China's, Scania's Foller, Britain's, They're, Maybel Saleh, Case's Campbell, Jon Chadwick, Clara Denina, Sarah McFarlane, Helen Reid, Veronica Brown, Tomasz Janowski Organizations: IKEA, Climate Tech VC, Scania, Reuters, White &, Export, GM, IMAS Foundation, Airlines, EMEA, Citi . Supply, Equity, PricewaterhouseCoopers, Thomson Locations: Ukraine, China, Russia, Beijing, Sweden, Swedish, H2GS, Norway, Germany, Indonesia, Britain, Bristol

☆ Wizz Air apologizes after a video appears to show a Ukrainian soldier with an amputated leg being kicked off a flight
▼ + stars: | 2023-07-10 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +2 min

A video appears to show a Ukrainian soldier with an amputated leg being told to get off a Wizzair flight. The soldier complained he could not sit down because of his prosthesis, the video caption said. WizzAir apologized in a statement, saying the passenger was kicked off for safety reasons. Wizz Air has apologized after a video appeared to show a Ukrainian soldier with an amputated leg being kicked off a flight while he was traveling to be reunited with his family. "In this instance, it was a difficult but necessary decision taken with passenger's safety in mind."

Persons: WizzAir Organizations: Morning Locations: Ukrainian, Tel Aviv, Israel, Warsaw, Poland, Ukraine

☆ Ryanair aiming for at least 50% growth in east, central Europe
▼ + stars: | 2023-06-27 | by ( Alan Charlish | ) www.reuters.com time to read: +2 min

[1/2] FILE PHOTO-General view of the Ryanair logo at their headquarters in Dublin, Ireland, September 16, 2021. "We want to focus very much on this region," Alicja Wojcik-Golebiowska, the CEE and Baltics country manager for Ryanair told Reuters in an interview. "We see that central and eastern Europe was a little bit left behind in last years. Hungarian budget airline Wizz Air will be its main competitor as it offers similar cheap fares, as well as connections to the Middle East. She said the company was also aiming for a dominant position in countries like Romania, Bulgaria and Hungary.

Persons: Golebiowska, Alan Charlish, Joanna Plucinska, Mark Potter Organizations: Ryanair, REUTERS, Wizz Air, Europe's, Boeing, Reuters, Wizz, Irish, Airlines, Thomson Locations: Dublin, Ireland, WARSAW, Europe, Poland, Spain, Italy, Romania, Bulgaria, Hungary, Warsaw, London

☆ Meet the traveler behind social media’s viral packing hacks
▼ + stars: | 2023-06-26 | by ( Francesca Street | ) edition.cnn.com time to read: +7 min

That’s where packing expert Chelsea Dickenson steps in. Take, for example, Dickenson’s viral fishing vest packing hack, in which she travels with a multi-pocketed, zip-up vest designed for fishing equipment. Not in a normal jacket – so why would you do it in a fishing vest? Courtesy Chelsea DickensonThe fishing vest is just one of several packing hacks Dickenson’s shared with her thousands of followers on TikTok and Instagram. Rather than packing random clothes, she’s got daily outfits ready to go.

Persons: CNN —, Chelsea Dickenson, ” Dickenson, Dickenson, ”, Here's Chelsea Dickenson, Dickenson’s, she’s, Chelsea Dickenson Dickenson’s, “, ” Chelsea Dickenson, cheapholidayexpert.com Dickenson’s, ’ ”, she's, She’s, I’ve Organizations: CNN, CNN Travel, Wizz Air, ” Locations: London, Lisbon, ”, TikTok, Vienna, Dickenson’s

☆ The world’s most eco-conscious airlines
▼ + stars: | 2023-06-16 | by ( Elissa Garay | ) edition.cnn.com time to read: +12 min

CNN —Most sustainability experts will scoff at the idea of “sustainable” and “airlines” in the same sentence. In 2022, an Airbus wide-body Beluga XL transport aircraft was filled with Sustainable Aviation Fuel" (SAF) for the first time. WiderøeNorway-based Widerøe, the largest regional airline in Scandinavia, says it is on track to become one of the world’s first fully emissions-free airlines. Alaska AirlinesAlaska Airlines has invested heavily in Sustainable Aviation Fuels (SAF). AaronP/Bauer-Griffin/GC Images/Getty ImagesWhile most major global airlines are targeting 2050 for net-zero carbon emissions, Alaska Airlines intends to meet that target as soon as 2040.

Persons: ”, Pedro Piris, Sola Zheng, Sina Schuldt, Nicolas Jammes, ” Akbar Al Baker, “, Zheng, –, that’s, it’s, Beata Zawrzel, Fabrizio Gandolfo, Nicolas Economou, Bauer, Griffin, It’s Organizations: CNN, Environmental Defense Fund, International Council, Clean Transportation, Commercial, International Air Transport Association, UN, Airbus, Beluga XL, Sustainable Aviation, Qatar Airways, SAF, European Union, Google, Environmental Defense, Airlines, United Airlines United, Aerospace, United, Flight Fund, Widerøe Norway, Widerøe, Royce, SAS SAS, Scandinavian, SAS, Wizz, Wizz Air, Etihad Airways Etihad, Getty, Etihad Airways, United Arab Emirates, Boeing, Etihad, Alaska Airlines Alaska Airlines, Aviation Fuels, AaronP, Alaska Airlines, Air Canada Canadian, Air Canada Locations: Europe, Denmark, Sweden, ICCT, Scandinavia, Norway, Canada

☆ UBS loves this low-cost global airline and expects its shares to rise 50% in the next year
▼ + stars: | 2023-06-16 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

UBS has upgraded Wizz Air to a buy rating, forecasting 50% growth in the pan-European airline's stock over the next 12 months. The London-listed company is a low-cost airline operating from nearly 40 airports and flying to over 50 countries. Wizz Air shares are already up by 50% this year, and UBS analysts expect the stock to increase by another 50% to £43 ($54.47) a share over the next 12 months. Deutsche Bank analysts raised their price target for Wizz Air to £37 but reiterated their "hold" rating on the stock. Deutsche analyst Jaime Rowbotham lowered the bank's forecast for the number of passengers flying Wizz Air next year by 3%, in contrast to its upgraded forecast for rival Ryanair , Europe's largest airline.

Persons: Jarrod Castle, Wizz, Jaime Rowbotham, Rowbotham Organizations: UBS, Wizz, Deutsche Bank, Wizz Air, Air, Ryanair, Europe's Locations: London, Central, Eastern, Swiss, Frankfurt, United States, Wizz

☆ London stocks inch higher on mining and energy push; Vodafone slumps
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies FTSE 100 up 0.1%, FTSE 250 flatJune 8 (Reuters) - UK's main stock indexes edged higher on Thursday, supported by a boost from mining and energy stocks, although a sharp drop in the shares of British mobile operator Vodafone capped gains. The resource-heavy FTSE 100 (.FTSE) was up 0.1% as of 0718 GMT, while the domestically-focused FTSE 250 (.FTMC) midcap index was little changed. Oil and gas (.FTNMX601010) and miners (.FTNMX551020) were the top sector gainers, while precious metals (.FTNMX551030) and chemicals (.FTNMX552010) took the worst hit. Wizz Air (WIZZ.L) gained 1.8% after the European low-cost airline forecast a net profit of 350 million euros to 450 million euros ($374.57 million to $481.59 million) in its current financial year. ($1 = 0.9344 euros)Reporting by Ankika Biswas in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Crest, Ankika Biswas, Rashmi Organizations: British, Vodafone, Reuters, Hutchison, HK, Wizz, Crest Nicholson Holdings, Thomson Locations: Bengaluru

☆ Profitability is returning, says Wizz Air CEO
▼ + stars: | 2023-06-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailProfitability is returning, says Wizz Air CEOJózsef Váradi, CEO of Wizz Air, discusses the company's results and how the sector is recovering from significant volatility.

Persons: József Váradi Organizations: Wizz

☆ Biden Wants Airlines to Pay Passengers for Delays. In Europe, they already do
▼ + stars: | 2023-05-13 | by ( Bernhard Warner | Sarah Kessler | ) www.nytimes.com time to read: +2 min

“Airlines already have financial incentives to get their passengers to their destination as planned,” Willie Walsh, the director general of the International Air Transport Association, a lobbying group, said in a statement criticizing the Biden plan. Europe’s air passenger rights regulation hasn’t been a panacea. Mr. Zenere, for example, is still arguing with Wizz Air, the airline that delayed his trip to Venice last year. — Bernhard WarnerTell us what you think: What changes would you like to see introduced to make the air travel experience smoother? Yaccarino, who was NBCUniversal’s head of advertising, will take over a company that has struggled to expand its ad business.

☆ Wizz Air to suspend Moldova flights, citing security
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +2 min

Wizz Air said in a statement it would lay on extra flights from the Romanian city of Iasi as replacements, including a new service to Berlin, and more flights to Barcelona, Milan Bergamo, Bologna, Rome Ciampino, Rome Fuimicino, Dortumand, Larnaca, London Luton and Treviso. Flights to Budapest and Prague will not be replaced and those inbound to Chisinau will be reallocated to other destinations in the Wizz Air network, it said. Tensions between Russia and Moldova have grown in recent months as Russian missiles aimed at Ukraine have entered Moldovan airspace and authorities have blamed the Kremlin for fuelling anti-government protests, something it denies. It said the civil aviation authority and the ministry of infrastructure and regional development had been in "constant cooperation" with Wizz Air representatives and informed them of the procedures in place to ensure aviation security. The aviation authority would take "all necessary actions" to return Wizz Air to Chisinau airport as soon as possible, and to attract other low-cost airlines.

☆ TUI sees strong summer bookings as travel recovery gains momentum
▼ + stars: | 2023-02-14 | by ( Joanna Plucinska | ) www.reuters.com time to read: +2 min

LONDON, Feb 14 (Reuters) - Holiday group TUI (TUIGn.DE), said on Tuesday it was seeing a positive travel recovery trend for the upcoming summer season as holidaymakers make plans to enjoy their breaks following a pandemic hiatus. Upcoming bookings for the 2023 winter and summer seasons hit 8.7 million. Low-cost airlines such as Ryanair, Wizz Air and easyJet all reported strong summer bookings earlier this year. Revenue improved by 1.4 billion euros to 3.8 billion euros year-on-year, with a growth of around a million guests to 3.3 million from the previous quarter. Separately, TUI shareholders are expected later on Tuesday to vote on a capital increase plan to repay Germany's Economic Stablisation Fund.

☆ Ryanair posts record Christmas quarter, sees 'very robust' summer demand
▼ + stars: | 2023-01-30 | by ( ) www.cnbc.com time to read: +2 min

Ryanair on Monday posted its largest after-tax profit for the October-December quarter and said bookings for Easter and summer flights in recent weeks were "very robust", boosted by demand from Asian travelers and a strong U.S. dollar. "We had record bookings in week two and week three of January, very robust demand into Easter and the summer without fare stimulation," he said. The Irish airline, Europe's largest by passenger numbers, said it had earned 211 million euros ($229.40 million) in the three months ended Dec. 31, the third quarter of its financial year. "With Asian tourists now returning and a strong U.S. dollar encouraging Americans to explore Europe, we're seeing robust demand," Chief Executive Officer Michael O'Leary said in a statement. Last week, rivals Wizz Air and EasyJet reported strong summer bookings.

☆ Wizz Air says average fares up, bookings rise
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: 1 min

LONDON, Jan 26 (Reuters) - Hungarian budget airline Wizz Air (WIZZ.L) said average fares for 2023 were higher than last year on booking volumes which were also ahead. The airline said its revenue more than doubled to 911.7 million euros ($994.3 million) in the three months to end-December, while passenger numbers increased 59% to 12.39 million. Chief Executive József Váradi said Wizz Air was continuing to see evidence of strength in ticket prices and ancillaries. "As we reach the end of January, we are seeing booking volumes coming in ahead of 2022, which is in line with expectations," he said on Thursday. ($1 = 0.9169 euros)Reporting by Sarah Young, Editing by Paul SandleOur Standards: The Thomson Reuters Trust Principles.

☆ Wizz Air sees strong summer, but more wary than rivals
▼ + stars: | 2023-01-26 | by ( Sarah Young | ) www.reuters.com time to read: +2 min

[1/2] People stand next to a Wizz Air aircraft at Ferenc Liszt International Airport in Budapest, Hungary, August 18, 2022. Low cost rivals Ryanair (RYA.I), Europe's biggest airline, and Britain's easyJet (EZJ.L) have reported record bookings for summer holidays, in a sign that consumers are still keen on trips despite a looming recession. Asked if Wizz had seen the same, CEO József Váradi said: "Bookings are strong, but I don't want to get over-excited." Separately on Thursday, British airline and holiday group Jet2 (JET2.L) upgraded its annual profit forecast after strong demand for winter holidays and said bookings for the summer were encouraging. For the new financial year, Wizz will benefit from hedging and new capacity, forecasting growth of 25% to 30% this summer versus last, helping unit costs to improve.

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