Tim Niznik

Remarkable rebound in air passenger traffic, considering the initial shock that saw RPKs drop by 93% in April 2020. Domestic travel bounced back to pre-COVID levels in the spring of 2023, while international routes did so only recently. Total traffic matched and surpassed 2019 numbers in February 2024. Source: International Air Transport Association (IATA), Global Outlook for Air Transport, June 2024. #Aviation #TravelIndustry #AirTravel #COVIDRecovery #AirlineIndustry #PassengerTraffic #AviationRecovery #TravelTrends #AviationNews #GlobalTravel"

This Was Expected. #Predictable: It’s somewhat perplexing that there is surprise regarding #JetBlueAirways recent performance downturn, as indicated by a 14% tumble in shares following a lowered revenue outlook for 2024. This financial adjustment reflects the broader economic conditions that continue to worsen, affecting consumer spending and travel habits. With rising operational costs and fluctuating demand, JetBlue’s struggle to maintain growth projections is reflective of the challenges faced by many in the industry under current economic pressures. Such trends should realistically temper expectations for airline performance in uncertain fiscal climates. https://lnkd.in/gka7uedj

New Post: JetBlue shares tumble after airline lowers 2024 revenue outlook -JetBlue has been on a cost-cutting spree, culling unprofitable routes, and focusing on those with steady demand and high sales for premium seats. The carrier last month called off its merger agreement with budget carrier Spirit Airlines after a judge blocked that $3.8 billion deal on antitrust grounds. The outlook update Tuesday shows a growing... JetBlue has been on a cost-cutting spree, culling unprofitable routes, and focusing on those with steady demand and high sales for premium seats. The carrier last month called off its merger agreement with budget carrier Spirit Airlines after a judge blocked that $3.8 billion deal on antitrust grounds.The outlook update Tuesday shows a growing divide between JetBlue and its larger rivals that have big international networks like Delta and United, which have forecast profits, strong revenue and record demand this summer."As we look to the full year, significant elevated capacity in our Latin region, which represents a large portion of JetBlue's network, will likely continue to pressure revenue and we expect a setback in our expectations for the full year," Joanna Geraghty, who became CEO in February, said in an earnings release. "We have full confidence that continuing to take action on our refocused standalone strategy is the right path forward to ultimately return to profitability again."JetBlue is affected by a Pratt & Whitney engine recall that has grounded some of its planes. In an investor presentation Tuesday, the airline said it was "actively exploring" more cost cuts.JetBlue earlier this year said it would defer $2.5 billion in aircraft spending until the end of the year.In the first three months of the year, JetBlue lost $716 million, or $2.11 per share, compared with a loss of $192 million, or 58 cents a share, in the same period of 2023.Adjusting for one-time items, JetBlue lost $145 million, or 43 cents per share, narrower than the 52-cent adjusted loss analysts polled by LSEG expected.Revenue dropped 5.1% from last year to $2.21 billion, matching LSEG revenue expectations. Source link

New Post: JetBlue shares tumble after airline lowers 2024 revenue outlook -JetBlue has been on a cost-cutting spree, culling unprofitable routes, and focusing on those with steady demand and high sales for premium seats. The carrier last month called off its merger agreement with budget carrier Spirit Airlines after a judge blocked that $3.8 billion deal on antitrust grounds. The outlook update Tuesday shows a growing... JetBlue has been on a cost-cutting spree, culling unprofitable routes, and focusing on those with steady demand and high sales for premium seats. The carrier last month called off its merger agreement with budget carrier Spirit Airlines after a judge blocked that $3.8 billion deal on antitrust grounds.The outlook update Tuesday shows a growing divide between JetBlue and its larger rivals that have big international networks like Delta and United, which have forecast profits, strong revenue and record demand this summer."As we look to the full year, significant elevated capacity in our Latin region, which represents a large portion of JetBlue's network, will likely continue to pressure revenue and we expect a setback in our expectations for the full year," Joanna Geraghty, who became CEO in February, said in an earnings release. "We have full confidence that continuing to take action on our refocused standalone strategy is the right path forward to ultimately return to profitability again."JetBlue is affected by a Pratt & Whitney engine recall that has grounded some of its planes. In an investor presentation Tuesday, the airline said it was "actively exploring" more cost cuts.JetBlue earlier this year said it would defer $2.5 billion in aircraft spending until the end of the year.In the first three months of the year, JetBlue lost $716 million, or $2.11 per share, compared with a loss of $192 million, or 58 cents a share, in the same period of 2023.Adjusting for one-time items, JetBlue lost $145 million, or 43 cents per share, narrower than the 52-cent adjusted loss analysts polled by LSEG expected.Revenue dropped 5.1% from last year to $2.21 billion, matching LSEG revenue expectations. Source link

New Post: New FAA rest rules to address ‘fatigue’ issues with air traffic controllers -The Federal Aviation Administration is instituting new rest rules for U.S. air traffic controllers to address fatigue issues that may be degrading air safety. Controllers will now be required to take 10 hours off between shifts and 12 hours off before a midnight shift. The mandate will take effect in 90 days, FAA Administrator Michael... The Federal Aviation Administration is instituting new rest rules for U.S. air traffic controllers to address fatigue issues that may be degrading air safety.Controllers will now be required to take 10 hours off between shifts and 12 hours off before a midnight shift. The mandate will take effect in 90 days, FAA Administrator Michael Whitaker said in a statement Friday."In my first few months at the helm of the FAA, I toured air traffic control facilities around the country — and heard concerns about schedules that do not always allow controllers to get enough rest," he said. "With the safety of our controllers and national airspace always top of mind for FAA, I took this very seriously — and we’re taking action." In a statement following the release of the new mandate, the National Air Traffic Controllers Association said that while it appreciated the FAA's attempt to address the fatigue issue, it was alarmed that the agency did not coordinate the new rules with them. It also warned said the new rules could backfire given current staffing shortage issues. Recommended"NATCA is concerned that with an already understaffed controller workforce, immediate application of the Administrator’s new rules may lead to coverage holes in air traffic facilities’ schedules," it said. "These holes may affect National Airspace System capacity. Requiring controllers to work mandatory overtime to fill those holes would increase fatigue and make the new policy nothing more than window dressing."The new mandate comes amid heightened scrutiny of U.S. air safety. On Thursday, the FAA announced it was investigating a near-miss incident at Washington's Reagan International Airport. A string of near-miss incidents last year led acting Administrator Billy Nolen to convene an emergency summit on U.S. air safety systems. Whitaker, who took over as FAA chief in October, commissioned a study on fatigue within weeks of taking office. The subsequent 114-page report found, among other things, that sleep loss, especially in the context of night work and rotating shifts, "engender known safety and performance decrements that can lead to errors, incidents, and accidents."Rob Wile is a breaking business news reporter for NBC News Digital. Source link

While low-cost airlines began the model of selling a base seat without any "extras" such as baggage or confirmed seats, this type of fare class is increasingly being picked up by mainstream airlines as a quiet way to get more money from travelers. Canada's second-largest airline WestJet recently announced a new "ultra basic" fare in which travelers can bring only a small personal item that can fit underneath the seat while United Airlines' Basic Economy fare also does not include a carry-on suitcase on flights within the U.S. While some low-cost airlines have tried to charge even for a single purse, the standard is to allow a personal item like a backpack but not a suitcase that meets carry-on dimensions for other classes. While its lowest Blue Basic fare currently requires passengers to check carry-ons for $65, JetBlue Airways just announced that it will start including it free of charge for flights taking place on or after September 6. More:

United Airlines’ First-Quarter 2024 Financial Results: Impact of Boeing 737 MAX 9 Grounding Summary: In an unfortunate turn of events, United Airlines' first-quarter 2024 financial results reflect the significant impact of the grounding of the Boeing 737 MAX 9 aircraft. The report highlights the substantial financial setback the commercial aviation provider has faced since a mechanical fault resulted in a forced landing. United Records Financial Hit: The Federal Aviation Administration's decision to ground the Boeing 737 MAX 9 fleet following safety concerns has severely impacted United Airlines' financial performance. The grounding has led to a decrease in flight capacity, resulting in reduced revenue and higher operating costs. As a result, United Airlines experienced a notable decline in its first-quarter earnings. The report provides a stark look at the challenges faced by the airline industry when unforeseen circumstances arise. However, it also emphasizes the resilience and adaptability of companies like United Airlines in navigating such difficulties. Take Action to Avoid FOMO: As an investment advisor passionate about helping individuals grow their Health Savings Accounts (HSAs), I encourage you to stay informed about the impact of events like the Boeing 737 MAX 9 grounding on the aviation industry. By understanding the potential consequences for airlines, investors can make well-informed decisions to protect and grow their investments. Investing in HSA accounts not only allows you to save for healthcare expenses but also provides an opportunity to grow your wealth. Consider exploring investment options that align with your financial goals, taking into account the latest developments in the healthcare and aviation sectors. #HSA #Investing #Healthcare #Health #Family #Wellness 📈💸🏥🌍✨

New Post: New FAA rest rules to address ‘fatigue’ issues with air traffic controllers -The Federal Aviation Administration is instituting new rest rules for U.S. air traffic controllers to address fatigue issues that may be degrading air safety. Controllers will now be required to take 10 hours off between shifts and 12 hours off before a midnight shift. The mandate will take effect in 90 days, FAA Administrator Michael... The Federal Aviation Administration is instituting new rest rules for U.S. air traffic controllers to address fatigue issues that may be degrading air safety.Controllers will now be required to take 10 hours off between shifts and 12 hours off before a midnight shift. The mandate will take effect in 90 days, FAA Administrator Michael Whitaker said in a statement Friday."In my first few months at the helm of the FAA, I toured air traffic control facilities around the country — and heard concerns about schedules that do not always allow controllers to get enough rest," he said. "With the safety of our controllers and national airspace always top of mind for FAA, I took this very seriously — and we’re taking action." In a statement following the release of the new mandate, the National Air Traffic Controllers Association said that while it appreciated the FAA's attempt to address the fatigue issue, it was alarmed that the agency did not coordinate the new rules with them. It also warned said the new rules could backfire given current staffing shortage issues. Recommended"NATCA is concerned that with an already understaffed controller workforce, immediate application of the Administrator’s new rules may lead to coverage holes in air traffic facilities’ schedules," it said. "These holes may affect National Airspace System capacity. Requiring controllers to work mandatory overtime to fill those holes would increase fatigue and make the new policy nothing more than window dressing."The new mandate comes amid heightened scrutiny of U.S. air safety. On Thursday, the FAA announced it was investigating a near-miss incident at Washington's Reagan International Airport. A string of near-miss incidents last year led acting Administrator Billy Nolen to convene an emergency summit on U.S. air safety systems. Whitaker, who took over as FAA chief in October, commissioned a study on fatigue within weeks of taking office. The subsequent 114-page report found, among other things, that sleep loss, especially in the context of night work and rotating shifts, "engender known safety and performance decrements that can lead to errors, incidents, and accidents."Rob Wile is a breaking business news reporter for NBC News Digital. Source link

New Post: New FAA rest rules to address ‘fatigue’ issues with air traffic controllers -The Federal Aviation Administration is instituting new rest rules for U.S. air traffic controllers to address fatigue issues that may be degrading air safety. Controllers will now be required to take 10 hours off between shifts and 12 hours off before a midnight shift. The mandate will take effect in 90 days, FAA Administrator Michael... The Federal Aviation Administration is instituting new rest rules for U.S. air traffic controllers to address fatigue issues that may be degrading air safety.Controllers will now be required to take 10 hours off between shifts and 12 hours off before a midnight shift. The mandate will take effect in 90 days, FAA Administrator Michael Whitaker said in a statement Friday."In my first few months at the helm of the FAA, I toured air traffic control facilities around the country — and heard concerns about schedules that do not always allow controllers to get enough rest," he said. "With the safety of our controllers and national airspace always top of mind for FAA, I took this very seriously — and we’re taking action." In a statement following the release of the new mandate, the National Air Traffic Controllers Association said that while it appreciated the FAA's attempt to address the fatigue issue, it was alarmed that the agency did not coordinate the new rules with them. It also warned said the new rules could backfire given current staffing shortage issues. Recommended"NATCA is concerned that with an already understaffed controller workforce, immediate application of the Administrator’s new rules may lead to coverage holes in air traffic facilities’ schedules," it said. "These holes may affect National Airspace System capacity. Requiring controllers to work mandatory overtime to fill those holes would increase fatigue and make the new policy nothing more than window dressing."The new mandate comes amid heightened scrutiny of U.S. air safety. On Thursday, the FAA announced it was investigating a near-miss incident at Washington's Reagan International Airport. A string of near-miss incidents last year led acting Administrator Billy Nolen to convene an emergency summit on U.S. air safety systems. Whitaker, who took over as FAA chief in October, commissioned a study on fatigue within weeks of taking office. The subsequent 114-page report found, among other things, that sleep loss, especially in the context of night work and rotating shifts, "engender known safety and performance decrements that can lead to errors, incidents, and accidents."Rob Wile is a breaking business news reporter for NBC News Digital. Source link

New Post: JetBlue shares tumble after airline lowers 2024 revenue outlook -JetBlue has been on a cost-cutting spree, culling unprofitable routes, and focusing on those with steady demand and high sales for premium seats. The carrier last month called off its merger agreement with budget carrier Spirit Airlines after a judge blocked that $3.8 billion deal on antitrust grounds. The outlook update Tuesday shows a growing... JetBlue has been on a cost-cutting spree, culling unprofitable routes, and focusing on those with steady demand and high sales for premium seats. The carrier last month called off its merger agreement with budget carrier Spirit Airlines after a judge blocked that $3.8 billion deal on antitrust grounds.The outlook update Tuesday shows a growing divide between JetBlue and its larger rivals that have big international networks like Delta and United, which have forecast profits, strong revenue and record demand this summer."As we look to the full year, significant elevated capacity in our Latin region, which represents a large portion of JetBlue's network, will likely continue to pressure revenue and we expect a setback in our expectations for the full year," Joanna Geraghty, who became CEO in February, said in an earnings release. "We have full confidence that continuing to take action on our refocused standalone strategy is the right path forward to ultimately return to profitability again."JetBlue is affected by a Pratt & Whitney engine recall that has grounded some of its planes. In an investor presentation Tuesday, the airline said it was "actively exploring" more cost cuts.JetBlue earlier this year said it would defer $2.5 billion in aircraft spending until the end of the year.In the first three months of the year, JetBlue lost $716 million, or $2.11 per share, compared with a loss of $192 million, or 58 cents a share, in the same period of 2023.Adjusting for one-time items, JetBlue lost $145 million, or 43 cents per share, narrower than the 52-cent adjusted loss analysts polled by LSEG expected.Revenue dropped 5.1% from last year to $2.21 billion, matching LSEG revenue expectations. Source link