The temporary spike in passenger numbers recorded between 2020 and 2021 provided plenty of hope that the industry could ride the wave of recovery and even go beyond levels seen in 2019. However, fortunes changed and unprecedented events occurred, such as Russia's invasion of Ukraine, leading to a shift in global interests.
At the same time, some airlines were posting record revenues. American Airlines, the largest airline by fleet size in the world, finished Q3 2022 with 'revenues of $13.5 billion in the third quarter, a 13% increase versus 2019 and a record for any quarter in company history.' Delta Air Lines, another United States (US)-based carrier, ended the same quarter with 'adjusted revenue three percent higher and unit revenues up 23 percent compared to 2019, marking the highest revenue and unit revenue quarter in Delta's history,' according to the airline's President, Glen Hauenstein. Other regions experienced their share of record-breaking results, such as Ryanair's recovery from 39.1 million passengers in H1 FY2022 to 95.1 million in H1 FY2023, or a strong showing by Japan-based All Nippon Airways (ANA), as the airline reversed a six-month loss in 2021 to a six-month profit by the end of September 2022, from ¥115.5 billion ($823.9 million) to ¥30.2 billion ($214.4 million).
While reviewing the airline sector for Seeking Alpha in the United States, Daniel Martins, one of the founders of a California-based hedge fund firm, noted that it remains tricky to invest in the aviation industry. “At a high level, betting on such a procyclical sector is most appropriate during the early stage of recovery in economic activity. Instead, what I see happening today is a long overdue rebound in travel demand that could still be severely dented, should inflation and rapidly rising interest rates lead to something that resembles a recession next year," Martins concluded his analysis.
Mixed fortunes and signals
This story is from the January 2023 edition of African Pilot.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the January 2023 edition of African Pilot.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
FACT FILE - THE UNCONVENTIONAL, BIZARRE BELL AIRACUDA
Larry Bell, founder of the Bell Aircraft Corp., now known as Bell Helicopter, entered the aircraft manufacturing industry with a unique bang. After dropping out of high school in 1912, Bell worked for various aircraft companies, including Martin and Consolidated, before starting his own company in 1935.
BEST OF THE BEST - THE DE HAVILLAND MUSEUM
Situated just outside the centre of London the de Havilland Museum is to be found and although small and compact it is an absolute joy, celebrating as it does the exploits of one of Britain's foremost aviation pioneers, Sir Geoffrey de Havilland an aircraft designer of some repute who left an incredible legacy, and made a massive impact on aircraft design and production in the early part of the 20th century.
PILATUS PC-24
The Pilatus PC-24 is a light business jet produced by Pilatus Aircraft of Switzerland. Following the PC-12 single turboprop success, work on the jet project started in 2007 for greater range and speed.
HONDAJET
Founded in 2006, Honda Aircraft Company is the latest venture in Honda's drive to enhance the freedom of mobility.
Absolute Service Centre AMO 173
As the only Textron Aviation authorised service facility on the African Continent and the oldest Cessna authorised service facility outside the USA since 1964, Absolute’s Service Centre has also been awarded representation for the Beechcraft and Textron eAviation Pipistrel portfolio. Absolute Service Centre (ASC) is the African regional representatives of the worldwide Textron 1CALL hotline support network. The management team at the Absolute Service Centre is proud of its heritage and long-standing support and representation of Textron Aviation products.
Spatial distortion
On Wednesday, 20 December 2023, a pilot and two transmission line workers on-board a Bell 407 helicopter with registration ZS-RXO took off from Majuba Venus Power Station landing zone (LZ) in KwaZulu-Natal province to conduct aerial work on the T299 mast (a section of Majuba Venus Power Station). The pilot intended to land back at the departure landing zone.
Dinosaur Derby at the Bill Harrop's Balloon field
When we arrived at the Dinosaur Derby late on Saturday afternoon 27 April there were already around two hundred invited guests that had set up their chairs and picnic tables on the lush green slopes of the lawns outside the beautiful clubhouse overlooking the very large balloon launch field with the majestic Magaliesberg Mountains as the backdrop.
EAA Young Aviators - April 2024 Wonderboom meeting
On Saturday, 13 April 2024 the EAA Young Aviators event was kindly hosted by Loutzavia Flight School at Wonderboom National Airport.
AIRBUS - ACJ Executive Jets
This mindset combined with curating the finest flying experience is why ACJ was born.
Five of the most expensive private jets in the world
When modern jetliners came into existence, only a few privileged wealthy people would get onboard an aircraft. But half a century later, more people have access to air travel than we might have imagined.
