Brussels Airlines and Tomorrowland proudly present โAmareโ, the newest Belgian Icon. Amare represents unity for people all over the world. โ The brand-new Airbus A320neoโs livery features augmented reality, a world-first. Both partners also ramp-up efforts to make the Tomorrowland-flights more sustainable.
During an event in Brussels Airlinesโ Maintenance & Engineering hangar, the new livery was presented to media, guests, and employees. The new Belgian Icon is a tribute to the world-famous music festival Tomorrowland and demonstrates once more theย Belgitudeย of Brussels Airlines, whereby the airline brings the world to Belgium and brings the best of Belgium to the world.
The design is a world premiere: Amare is the first aircraft to feature augmented reality in its livery as the bird comes to life when scanned through specific Social Media channels such as Instagram and TikTok. This feature provides The People of Tomorrow a first augmented storytelling behind the world-famous magical creature Amare, which symbolizes unity and transcending time and space. The whole design process of the livery took about 15 months and great attention has been given to details, from the feathers of the bird to the sparkles of the fireworks transitioning into the Brussels Airlinesโ logo.ย
The Tomorrowland experience will of course continue inside the aircraft where passengers will enjoy the impressive sound system and special mood lighting in the cabin.
Exploring the world in a more responsible way โBoth partners are aware of their environmental impact and have been working to reduce it over the past few years. The new Amare is the secondย brand-new A320neoย (with registration number OO-SBB) having joined Brussels Airlinesโ fleet in December 2023. โ
The neo emits up to 20% less CO2 and up to 50% less noise than its predecessors. The new Amare is thus a tangible example of how Brussels Airlines and Tomorrowland are aiming to reduce their ecological impact.
Furthermore, all Global Journey Packages Brussels Airlines and Tomorrowland sell together will from now on be Green Fares, which compensate the flight emissions โ with Sustainable Aviation Fuel (20%) and thanks to the investment into qualitative CO2-reducing programmes (80%). To top it off, Tomorrowland and Brussels Airlinesย signed an agreement to invest in the purchase of SAFย to compensate the total carbon emissions of all party flights that will be operated.
โBrussels Airlines has been a proud partner of Tomorrowland since 2012 and I am happy to announce that we will extend this partnership until 2028. We have many things in common such as the passion to explore the world and connecting cultures, but also the awareness of our environmental footprint and our willingness to take the necessary steps to reduce our impact.These shared values make this partnership such a success.โ โ– Dorothea von Boxberg, CEO, Brussels Airlines
First maiden flight โAmare will not only bring the festivalgoers to Tomorrowland but will be operating commercial flights as from 26 April 2024. It will leave on its โmaiden voyageโ on 26 April 2024 to Tenerife, at 1.20pm, flight number SN3781.ย
About the design of Amare โAmare is a Tomorrowland icon symbolizing bringing people together and is actually synonymous with Unity. โIn the Tomorrowland Universe, the bird is the only one able to travel through different Tomorrowland worlds via Paperworld (the magical parallel spectrum that connects the โ different worlds).So from this line of thought, Amare was visualized as if the magical bird was traveling through the “spectrum of space” by having him fade out towards the back. This also conveys a stronger sense of motion and makes the aircraft even more dynamic and modern. โThis also emphasizes the very iconic head of Amare that is now known by many. Furthermore, the new visualization also exudes a tremendous power in magic through energy lines and particles that are in the direction of motion, this to further emphasize that Amare is a magical being that is constantly in motion with the purpose of bringing people together.
About Brussels Airlinesโ Belgian Icons โBrussels Airlines first Belgian Icon, Rackham, was introduced in 2015 and pays tribute to Tintin, the world-famous Belgian comic.Several other Belgian Icons followed to showcase the best of Belgium around the world: โ- Magritte was part of the fleet between 2016 and 2021. The aircraft was a homage to Renรฉ Magritte, the Belgian surrealistic painter. โ- Also in 2016, Trident joined the fleet. The official plane of the Belgian Red Devils, the Belgian national soccer team. In 2021 a new Trident was presented, this time also proudly representing the Belgian Red Flames, the female soccer team. โ- Together with long-esteemed partner Tomorrowland, Amare was introduced in 2017. โ- Aerosmurf smurfed the fleet between 2018 and 2023. โ- Flemish painter Pieter Bruegel the Elder, a Belgian icon from the 16th century, traveled the world between 2019 and 2023.The idea behind the Belgian Icons is to introduce the best of Belgium to the world. The Belgian Icons are known all over the world and make flying even more fun.
American Airlines Group Inc. (NASDAQ: AAL) today reported its first-quarter 2024 financial results, including:
Record first-quarter revenue of approximately $12.6 billion.
First-quarter net loss of $312 million, or ($0.48) per diluted share. Excluding net special items1, first-quarter net loss of $226 million, or ($0.34) per diluted share.
Generated operating cash flow of $2.2 billion and free cash flow2ย of $1.4 billion in the first quarter.
Reduced total debt3ย by nearly $950 million in the first quarter. The company is now more than 80% of the way to its 2025 total debt reduction goal.
โThe American Airlines team continues to build a reliable, efficient and resilient airline,โ said Americanโs CEO Robert Isom. โWhile we arenโt satisfied with our first-quarter financial results, we have a strong foundation in place, and we remain on track to deliver on our full-year financial targets. Our team is running a fantastic operation, driving revenue through our commercial initiatives, efficiently managing costs, and producing free cash flow to further strengthen our balance sheet.โ
Resources
Operational performance
American is running the best operation in its history because of a steadfast commitment to operational excellence and strong collaboration across the entire airline. The company produced its best-ever first-quarter completion factor and improved its mishandled baggage rate year over year. American achieved these results despite air traffic control challenges and significant weather events across its network during the quarter.
Financial performance
American produced results within previously guided ranges for each of its operating metrics despite a significant increase in the cost of fuel in the quarter. The company generated record first-quarter revenue of approximately $12.6 billion and a GAAP operating margin of 0.1%. Excluding the impact of net special items1, American produced an operating margin of 0.6% in the first quarter.
Balance sheet
Strengthening the balance sheet remains a top priority for American. In the first quarter, the company reduced total debt3 by nearly $950 million and has now achieved more than $12 billion, or over 80%, of its goal of reducing total debt3 by $15 billion by the end of 2025.
Guidance and investor update
Based on present demand trends and the current fuel price forecast and excluding the impact of special items, the company expects its second-quarter 2024 adjusted earnings per diluted share4 to be between $1.15 and $1.45. The company continues to expect its full-year adjusted earnings per diluted share4 to be between $2.25 and $3.25.
Notes
See the accompanying notes in the financial tables section of this press release for further explanation, including a reconciliation of all GAAP to non-GAAP financial information and the calculation of free cash flow.
The company recognized $86 million of net special items in the first quarter after the effect of taxes, which included operating net special items of $70 million, principally related to one-time charges resulting from the ratification of a new collective bargaining agreement for its passenger service team members represented by the CWA-IBT, as well as nonoperating net special items of $46 million for charges associated with mark-to-market net unrealized losses on certain equity investments.ย
Please see the accompanying notes for the companyโs definition of free cash flow, which is a non-GAAP measure.
All references to total debt include debt, finance and operating lease liabilities and pension obligations.ย
Adjusted earnings per diluted share guidance excludes the impact of net special items. The company is unable to reconcile certain forward-looking information to GAAP as the nature or amount of net special items cannot be determined at this time.
American AIrlines aircraft photo gallery (Boeing):
Southwest Airlines Company today reported its first quarter 2024 financial results:
Net loss ofย $231 million, orย $0.39ย loss per diluted share
Net loss, excluding special items1, ofย $218 million, orย $0.36ย loss per diluted share
Record first quarter operating revenues ofย $6.3 billion
Liquidity2ย ofย $11.5 billion, well in excess of debt outstanding ofย $8.0 billion
Bob Jordan, President and Chief Executive Officer, stated, “While it is disappointing to incur a first quarter loss, we exited the quarter with healthy profits and margins in the month of March. We are focused on controlling what we can control and have already taken swift action to address our financial underperformance and adjust for revised aircraft delivery expectations. I want to thank our more than 74,000 Employees for their continued Warrior Spirit to maintain a reliable and resilient operation as we adapt to aircraft delivery constraints and adjust to slower than planned growth for this year and next.
“Our first quarter 2024 revenue performance, while shy of our prior aspirations, resulted in record first quarter operating revenues, record first quarter passengers carried, and a solid sequential improvement in nominal unit revenue when compared with seasonal norms. The sequential improvement was driven by an acceleration in managed business revenues as well as benefits from network adjustments, which started in earnest with the March schedule. While costs remain a headwind, we are realizing benefits from our ongoing cost reduction actions and remain focused on enhancing productivity and controlling discretionary spending. We also have certainty with labor rates, having ratified agreements with 11 of our labor groups in the past 18 months, including the agreement ratified yesterday for our Flight Attendants.
“Achieving our financial goals is an immediate imperative. The recent news from Boeing regarding further aircraft delivery delays presents significant challenges for both 2024 and 2025. We are reacting and replanning quickly to mitigate the operational and financial impacts while maintaining dependable and reliable flight schedules for our Customers.
“To improve our financial performance, we have intensified our network optimization efforts to address underperforming markets. Consequently, we have made the difficult decision to close our operations at Bellingham International Airport, Cozumel International Airport, Houston’s George Bush Intercontinental Airport, and Syracuse Hancock International Airport. I want to sincerely thank our Employees, the airports, and the communities for all their incredible support over the years.
“Additionally, we are evaluating options to enhance our Customer Experience as we study product preferences and expectations, including onboard seating and our cabin. And, we are implementing cost control initiatives, including limiting hiring and offering voluntary time off programs. We now expect to end 2024 with approximately 2,000 fewer Employees as compared with the end of 2023.
“We are focused on achieving our financial prosperity goals and creating value for our Shareholders, while we adjust to changes in our aircraft delivery plans, Customer travel patterns and preferences, higher fuel prices, and other cost pressures. We are excited and optimistic with a robust set of strategic initiatives that are well underway. They are comprehensive and aimed at enhancing the Customer Experience; delivering operational excellence; creating new and meaningful revenue opportunities; expanding margins; and achieving return on invested capital well above of our weighted average cost of capital. We look forward to sharing these plans at our Investor Day in September.”ย
(a) Operating revenue per available seat mile (“RASM” or “unit revenues”).
(b) Available seat miles (“ASMs” or “capacity”). The Company’s flight schedule is published for sale through March 5, 2025. The Company expects third quarter 2024 capacity to increase in the low-single digits and fourth quarter 2024 capacity to decrease in the low- to mid-single digits, resulting in capacity growth in the range of flat to down low-single digits in second half 2024, all on a year-over-year percentage basis.
(c) Operating expenses per available seat mile, excluding fuel and oil expense, special items, and profitsharing (“CASM-X”).
(d) Aircraft on property, end of period. The Company now plans for approximately 20 Boeing 737-8 (“-8”) aircraft deliveries and 35 aircraft retirements in 2024, comprised of 31 Boeing 737-700s (“-700”) and four Boeing 737-800s (“-800”). This is compared with its previous plan for approximately 46 -8 deliveries and 49 aircraft retirements. The delivery schedule for the Boeing 737-7 (“-7”) is dependent on the Federal Aviation Administration (“FAA”) issuing required certifications and approvals to The Boeing Company (“Boeing”) and the Company. The FAA will ultimately determine the timing of the -7 certification and entry into service, and Boeing may continue to experience manufacturing challenges, so the Company offers no assurances that current estimations and timelines will be met.
Revenue Results and Outlook:
First quarter 2024 operating revenues were a first quarter recordย $6.3 billion, a 10.9 percent increase, year-over-year
First quarter 2024 RASM was flat, year-over-yearโat the low end of the Company’s previous guidance range
The Company had record first quarter revenue performance driven by strong demand trends and record first quarter passenger and ancillary revenue, passengers carried, and new Rapid Rewardsยฎ Members. The Company’s first quarter 2024 RASM came in at the low end of its expectations primarily due to lower-than-expected close-in leisure passenger volume, including lower-than-expected maturation of development markets. Still, nominal sequential RASM in first quarter 2024 was ahead of normal seasonal trends. First quarter 2024 managed business revenues strengthened sequentially, as expected, finishing roughly flat when compared with first quarter 2019 levels, and up approximately 25 percent, year-over-year. Network optimization adjustments, implemented with the March schedule, were accretive and supported the profitability inflection point and strong margins for the month of March 2024.
Based on current booking trends, the Company continues to expect an all-time quarterly record for operating revenue in second quarter 2024. Second quarter 2024 RASM is expected to decrease in the range of 1.5 percent to 3.5 percent, on capacity growth of 8 percent to 9 percent, both year-over-year. The comparison includes just over one point of year-over-year headwind from the combined impact of Easter and 4th of July timing. Once again, the Company currently expects nominal second quarter 2024 sequential RASM trends to exceed normal seasonal trends. This anticipated sequential improvement includes expected benefits from revenue initiativesโmost notably a full quarter of network optimization.
Significant challenges presented by Boeing aircraft delivery delays, and the related reduction in second half 2024 capacity, negatively impact the Company’s previous expectation for double-digit year-over-year operating revenue growth for full year 2024. As such, the Company now expects full year 2024 year-over-year operating revenue growth approaching high-single digits when adjusted for current trends and planned reductions for post-summer schedules. While the Company remains committed to the goal of earning its cost of capital, these new challenges, combined with current trend pressures, make it more realistic to expect that to occur beyond 2024. The Company is working on further optimization of its network with the goal to improve unit revenue performance and operating margins5. To that end, the Company has made the difficult decision to cease operations at Bellingham International Airport, Cozumel International Airport, Houston’s George Bush Intercontinental Airport, and Syracuse Hancock International Airport on August 4, 2024, and significantly restructure other markets, most notably by implementing capacity reductions in both Hartsfield-Jackson Atlanta International Airport and Chicago O’Hare International Airport.
The Company’s initiatives, which include the estimated benefit of network changes, are expected to contribute between $1.0 billion and $1.5 billion in 2024 year-over-year pre-tax profits, compared with its initial plan of roughly $1.5 billion. The estimated value has been updated for first quarter actual performance, development market adjustments, and capacity changes in the second half of the year. Furthermore, the Company will continue to evaluate its network and work on its robust set of new strategic initiatives, including revenue generating opportunities.
Fuel Costs and Outlook:
First quarter 2024 economic fuel costs wereย $2.92ย per gallon1โslightly below the Company’s previous expectations primarily as a result of lower-than-expected refinery marginsโand includedย $0.08ย per gallon in premium expense andย $0.04ย per gallon in favorable cash settlements from fuel derivative contracts
First quarter 2024 fuel efficiency improved 2.5 percent, year-over-year, primarily due to more -8 aircraft, the Company’s most fuel-efficient aircraft, as a percentage of its fleet
As of April 18, 2024, the fair market value of the Company’s fuel derivative contracts settling in second quarter 2024 through the end of 2026 was an asset ofย $270 million
The Company’s multi-year fuel hedging program continues to provide protection against spikes in energy prices. The Company’s current fuel derivative contracts contain a combination of instruments based on West Texas Intermediate and Brent crude oil, and refined products, such as heating oil. The economic fuel price per gallon sensitivities3 provided in the table below assume the relationship between Brent crude oil and refined products based on market prices as of April 18, 2024.
Estimated economic fuel price per gallon, including taxes and fuel hedging premiums
Average Brent Crude Oil price per barrel
2Q 2024
2024
$70
$2.45 – $2.55
$2.50 – $2.60
$80
$2.65 – $2.75
$2.70 – $2.80
Current Market (a)
$2.70 – $2.80
$2.70 – $2.80
$90
$2.80 – $2.90
$2.85 – $2.95
$100
$3.00 – $3.10
$3.05 – $3.15
$110
$3.10 – $3.20
$3.15 – $3.25
Fair market value of fuel derivative contracts settling in period
$27 million
$109 million
Estimated premium costs
$39 million
$158 million
(a) Brent crude oil average market prices as of April 18, 2024, were $87 and $84 per barrel for second quarter and full year 2024, respectively.
In addition, the Company is providing its maximum percentage of estimated fuel consumption6 covered by fuel derivative contracts in the following table:
Periodโโ
Maximum fuel hedged percentage (a)
2024
58 %
2025
47 %
2026
26 %
(a) Based on the Company’s current available seat mile plans. The Company is currently 55 percent hedged in second quarter 2024 and 58 percent hedged for second half 2024.
First quarter 2024 operating expenses, excluding fuel and oil expense, special items, and profitsharing1, increased 16.5 percent, year-over-year
First quarter 2024 CASM-X increased 5.0 percent, year-over-yearโbetter than the Company’s previous expectations
The Company’s first quarter 2024 CASM-X increased 5.0 percent, year-over-year, approximately one point better than prior guidance primarily due to favorable airport settlements and higher-than-expected participation in voluntary time off programs. The majority of the first quarter CASM-X increase, year-over-year, was attributable to higher 2024 overall labor cost increases, as well as pressure from planned maintenance expenses.
The Company continues to expect similar cost pressures throughout the year, driving second quarter 2024 CASM-X to an expected increase in the range of 6.5 percent to 7.5 percent, year-over-year. The Company expects full year 2024 CASM-X to increase in the range of 7 percent to 8 percent, based on a reduction of roughly 2 points of lower than previously expected capacity, on a year-over-year basis.
First quarter 2024 net interest income, which is included in Other expenses (income), increased $18 million, year-over-year, primarily due to a $16 millionincrease in interest income driven by higher interest rates.
Fleet, Capacity, and Capital Spending: During first quarter 2024, the Company received five -8 aircraft and retired three -700 aircraft, ending first quarter with 819 aircraft. Given the Company’s discussions with Boeing and expected aircraft delivery delays, the Company plans for approximately 20 -8 aircraft deliveries in 2024, a reduction from the Company’s previous expectation of 46 -8 aircraft deliveries, which differs from its contractual order book displayed in the table below. Consequently, to support fleet flexibility for 2025, the Company plans to retire approximately 35 aircraft in 2024 (31 -700s and four -800s), a reduction from its previous expectation of 49 (45 -700s and four -800s). This will result in a fleet of roughly 802 aircraft at year-end 2024. As a result of Boeing’s delivery delays, the Company has conservatively re-planned its capacity and delivery expectations for the remainder of this year and next. However, there is no assurance that Boeing will meet this most recent delivery schedule.
The Company’s flight schedule is published for sale through March 5, 2025. In light of the Company’s lower aircraft delivery expectations, the Company estimates second quarter 2024 capacity to increase in the range of 8 percent to 9 percent; third quarter 2024 capacity to increase in the low-single digits; fourth quarter 2024 capacity to decrease in the low- to mid-single digits; and full year 2024 capacity to increase approximately 4 percent, all on a year-over-year percentage basis. While the Company continues to adjust and re-optimize schedules for the second half of the year, the current expectation is for aircraft seats and trip frequency to decline in the third and fourth quarters of 2024, both on a year-over-year basis. The Company currently plans for capacity growth beyond 2024 to be at or below macroeconomic growth trends until the Company reaches its long-term financial goal to consistently achieve after-tax return on invested capital (“ROIC”)7 well above its weighted average cost of capital (“WACC”).
The Company’s first quarter 2024 capital expenditures were $583 million, driven primarily by aircraft-related capital spending, as well as technology, facilities, and operational investments. The Company now estimates its 2024 capital spending to be roughly $2.5 billion, which includes approximately $1.0 billion in aircraft capital spending, assuming approximately 20 -8 aircraft deliveries in 2024 and continued progress delivery payments for the Company’s contractual 2025 firm orders.
Last week, the Company entered into a Supplemental Agreement with Boeing relating to its contractual order book for -7 and -8 aircraft. This Supplemental Agreement addresses updates related to the continued -7 delay in certification and supports the Company’s continued focus on fleet modernization. The Supplemental Agreement formalized the conversion of 19 2025 -7 firm orders into -8 firm orders as of March 31, 2024, and shifted one 2025 -8 option into 2026 as of April 2024. The following tables provide further information regarding the Company’s contractual order book and compare its contractual order book as of April 25, 2024, with its previous order book as of January 25, 2024. The contractual order book as of April 25, 2024 does not include the impact of delivery delays and is subject to change based on ongoing discussions with Boeing.
Current 737 Contractual Order Book as of April 25, 2024:
The Boeing Company
-7 Firm Orders
-8 Firm Orders
-7 or -8 Options
Total
2024
27
58
โ
85
(c)
2025
40
19
14
73
2026
59
โ
27
86
2027
19
46
25
90
2028
15
50
25
90
2029
38
34
18
90
2030
45
โ
45
90
2031
45
โ
45
90
288
(a)
207
(b)
199
694
(a) The delivery timing for the -7 is dependent on the FAA issuing required certifications and approvals to Boeing and the Company. The FAA will ultimately determine the timing of the -7 certification and entry into service, and the Company therefore offers no assurances that current estimations and timelines are correct.
(b) The Company has flexibility to designate firm orders or options as -7s or -8s, upon written advance notification as stated in the contract.
(c) Includes five -8 deliveries received year-to-date through March 31, 2024. Given the Company’s continued discussions with Boeing and expected aircraft delivery delays, the Company is currently planning for approximately 20 -8 aircraft deliveries in 2024.
Previous 737 Order Book as of January 25, 2024 (a):
The Boeing Company
-7 Firm Orders
-8 Firm Orders
-7 or -8 Options
Total
2024
27
58
โ
85
2025
59
โ
15
74
2026
59
โ
26
85
2027
19
46
25
90
2028
15
50
25
90
2029
38
34
18
90
2030
45
โ
45
90
2031
45
โ
45
90
307
188
199
694
(a) The ‘Previous 737 Order Book’ is for reference and comparative purposes only. It should not be relied upon. See ‘Current 737 Contractual Order Book’ for the Company’s current aircraft order book.
Liquidity and Capital Deployment:
The Company ended first quarter 2024 withย $10.5 billionย in cash and cash equivalents and short-term investments, and a fully available revolving credit line ofย $1.0 billion
Theย $921 millionย reduction in cash and cash equivalents during first quarter 2024 was driven primarily by theย $1.35 billionย payout of the Pilot contract ratification bonus
The Company continues to have a large base of unencumbered assets with a net book value of approximatelyย $17.2 billion, includingย $14.4 billionย in aircraft value andย $2.8 billionย in non-aircraft assets such as spare engines, ground equipment, and real estate
The Company had a net cash position8ย ofย $2.5 billion, and adjusted debt to invested capital (“leverage”)9ย of 47 percent as of March 31, 2024
The Company returnedย $215 millionย to its Shareholders through the payment of dividends during first quarter 2024
The Company paidย $8 millionย during first quarter 2024 to retire debt and finance lease obligations, consisting entirely of scheduled lease payments
Awards and Recognitions:
Named to FORTUNE’s list of World’s Most Admiredยฎย Companies; ranked #39 overall
Named Domestic Carrier of the Year by the Airforwarders Association
Named the #2 domestic airline by the 2024 Elliot Readers’ Choice Awards
Recognized by Newsweek as one of America’s Most Responsible Companies
Earned Top Score in Human Rights Campaign Foundation’s 2023-2024 Corporate Equality Index
Designated one of the 25 Best Companies for Latinos to Work 2024 by Latino Leaders Magazine
Received the following 2024 designations from Viqtory: Military Friendly Employer, Military Spouse Employer, and Military Friendly Supplier Diversity Program
Environmental, Social, and Governance (“ESG”):
Announced the launch of Southwest Airlines Renewable Ventures (“SARV”), a wholly-owned subsidiary of Southwest Airlinesยฎย dedicated to creating more opportunities for Southwest to obtain scalableโฏsustainable aviation fuelโฏ(“SAF”), a critical component in the success of the carrier’s goal to replace 10 percent of its total jet fuel consumption with SAF by 2030
Announced the acquisition of SAFFiRE Renewables, LLC (“SAFFiRE”) as part of the SARV investment portfolio. SAFFiRE expects to utilize technology developed at the Department of Energy’s National Renewable Energy Laboratory (“NREL”) to convert corn stover, a widely available agricultural residue feedstock in theย U.S., into renewable ethanol
Announced aย $30 millionย investment in LanzaJet, Inc., a SAF technology provider and producer with the world’s first ethanol-to-SAF commercial plant, as part of the SARV investment portfolio
Joined the Hawai’i Seaglider Initiative to explore the feasibility of 100 percent electric, zero direct emissions technology
Published the Southwest Airlines Climate Advocacy statement
Celebrated Black History Month and Women’s History Month throughout February and March 2024, respectively. Southwest highlighted its Employee Resource Groups and encouraged Employees to get involved and learn more about cultural, heritage, and pride months
Highlighted National Human Trafficking Prevention Month to educate Employees and Customers on ways to help combat this issue. Southwest is proud to support multiple nonprofit organizations whose efforts help with the rescue, recovery, and restoration of human trafficking survivors
Launched applications for the Southwest Scholarship Program, which includes two scholarship opportunities. The Southwest Airlinesยฎย Community Scholarship seeks to build a diverse talent pipeline, while inspiring future generations to find careers within the airline industry. The Southwest Airlinesยฎย Founders Scholarship was established for eligible dependents of Southwest Airlines Employees to pursue higher education
Celebrated the fifth anniversary of Southwest’s service toย Hawaiiย by announcing a partnership with the Council for Native Hawaiian Advancement (“CNHA”) as Presenting Sponsor of the community’s beloved and revitalized Kilohana Hula Show
Visit southwest.com/citizenship for more details about the Company’s ongoing ESG efforts
Because of the Boeing delivery delays, Southwest will drop service to four destinations on August 4, 2024:
Alaska Airlines is expanding service at two of its major hubs in Southern California with new routes and additional capacity to popular West Coast destinations as part of the carrierโs ongoing commitment to growth in the state.ย ย Starting this fall, weโre adding our 39thย nonstop destination from San Diego with service to Las Vegas. Weโre also starting new service between Los Angeles and Pasco, as well as bringing back guest favorite Los Angeles to Reno. Guests can now book these new, nonstop routes onย alaskaair.comย with service beginning Oct. 1, 2024. ย Alaska also announced it is adding more flights to destinations already serve out of Los Angeles International Airport, increasing capacity by more than 25%, including to Boise, Medford, Portland, San Jose, Santa Rosa and Seattle/Tacoma.
In Los Angeles, weโll start to fly our expanded schedule on Oct. 1, 2024 when weโll offer the most daily flights to West Coast destinations of any airline from LAX.ย
Alaska AIr Fuel Douglas C-54D-DC (DC-4) registered as N3054V crashed shortly after takeoff on Tuesday from Fairbanks International Airport. The two crew members on board did not survive the crash. The pilots reported there was a fire on board.
๐จ#BREAKING: New Security footage has captured the moment when a Douglas C-54D-DC Skymaster, plane operated by Alaska Air Fuel, crashed soon after takeoff from Fairbanks International Airport in Alaska. Both pilots were killed and the aircraft was destroyed pic.twitter.com/t1MQd3wgB9
airBaltic, in the presence of the airline andย RIX RIGA Airportย representatives, and the Slovenian Ambassador to Latvia, on April 25 launched direct flights between Riga and Ljubljana. This new service connects the two cities with two weekly flights, enhancing travel options between Latvia and Slovenia.
Ljubljana, the capital of Slovenia, combines rich history with vibrant modernity, making it a captivating European destination. Nestled between the Alps and the Adriatic Sea, it features picturesque landscapes and the iconic Ljubljanica River flowing through its center. The city showcases a blend of historic architecture and contemporary urban spaces. As a cultural hub, Ljubljana is filled with museums, galleries, and theaters, enhanced by lively cafes and traditional eateries. Recognized for its sustainable urban development, Ljubljana offers a warm welcome and a memorable experience to visitors worldwide.
Flights between Riga and Ljubljana are scheduled to take 2 hours and 15 minutes.ย
During theย summer season 2024,ย airBalticย will offer 15 new routes from the Baltics and Tampere.
Southwest Airlines has announced that its Flight Attendants, represented by the Transport Workers Union Local 556, voted in favor of a new collective bargaining agreement. In addition to industry-leading compensation increases, the new agreement incorporates refined on-call scheduling for Southwest Airlinesยฎย Flight Attendants and other quality-of-life enhancements, including Company-paid maternity and parental leaves.
The contract covering nearly 20,000 Southwestยฎ Flight Attendants becomes amendable in 2028.
Since October 2022, 11 union-represented workgroups at the airline have ratified new agreements:
Appearance Technicians
Customer Service Agents, Customer Representatives, and Source of Support Representatives
American launches airlineโs first-ever rotating collection of premium onboard amenities, along with new bedding.
Throughout the year, new inflight amenities will feature diverse designers and brands, sustainably sourced materials and causes important to American and its customers.
Customers can indulge in fresh entrees, inspired by popular American Airlines destinations, across all domestic and international flights.
AAdvantageยฎ members can continue to earn or use miles for flights with these premium experiences.
American Airlines is heating up theย inflight experienceย ahead of the summer travel season with a wave of premium onboard enhancements to make travel even more enjoyable. Customers will fly in style with a new, reimagined amenity kit series and bedding, and savor new dishes throughout their journey. In the future, customers can anticipate an increasingly elevated experience with the arrival of new Flagship Suiteยฎ seats.
โWe thoughtfully curate each element of the onboard experience so every customer can look forward to the time they spend in flight,โ said Kim Cisek, Americanโs Vice President of Customer Experience. โPart of the magic of travel is connecting our customers to the people and experiences that matter most to them. Weโre taking that concept to the skies by introducing a new, dynamic onboard program thatโs inspired by feedback from our customers and team members.โ
American worked with a mix of boutique and well-known brands to create a program that will evolve throughout the years and feature rotating kit designs and high-quality skincare products in addition to the new bedding program.
A rotation of stylish new amenities and more
The new program will be on board more than 300 international and transcontinental flights beginning Memorial Day weekend in Flagshipยฎ First Class, Flagshipยฎ Business Class and Premium Economy cabins.
Americanโs primary amenity kit will be available yearlong for customers flying in premium cabins. The kit will include staple amenities customers have come to expect while in flight, such as a toothbrush, dental kit, eye mask and earplugs, in addition to new and evolving skincare products and offerings. American will cycle new brands and products within the kits for customers in all premium cabins, creating a unique customer experience several times over, based directly on customer feedback.
American collaborated with beauty retailer Thirteen Lune to curate the skincare offerings, which will feature high-quality beauty brands from Thirteen Luneโs tailored collection with wide ranging representation of diverse founders and voices such as Joanna Vargas and Relevant.
Limited-edition kits
In addition to these rotating products within the kits, customers will enjoy limited-edition specialty kits created in collaboration with diverse designers and brands based primarily in the U.S. Through the designs of these specialty kits, American will recognize specific milestones and initiatives that reflect the values and backgrounds of the airlineโs customers and team members. These limited-edition kits will debut in the months and years ahead.
In fact, the all-new amenity program will launch with a Thirteen Lune specialty kit to introduce customers to the new kit line and the opportunity to start collecting the limited-edition kits. Customers flying in premium cabins will receive the Thirteen Lune kit for the first few weeks of the kickoff to the new program. Customers can then look forward to receiving the primary amenity kit on board throughout the rest of the summer.
Each specialty kit will be available for a limited time on eligible flights in Flagshipยฎ First Class, Flagshipยฎ Business Class and Premium Economy. Travelers will be able to learn about each brand and partner featured in the specialty kit by scanning a QR code found within the kit.
Elevated bedding inspired by customer feedback
Customers will travel in elevated comfort with new bedding, pillows and sleepwear that deliver on customer expectations for a restful experience on board. In Americanโs research with customers, travelers shared that 75% prefer dual-sided pillows, with different materials on each side of the pillow. Based on this feedback, customers traveling across Flagshipยฎ First Class or Flagshipยฎ Business Class will enjoy a dual-sided pillow with cool touch fabric on one side, and traditional fabric on the other.
Those traveling in Flagshipยฎ First Class on international flights will continue to enjoy a set of pajamas, based on feedback that 80% of first class customers value having pajamas onboard. In addition, travelers in Flagshipยฎ Business Class on all international flights will now enjoy slippers onboard, instead of only on ultra long-haul flights.
Customers in all cabins, including Premium Economy and Main Cabin, will enjoy enhanced bedding, with cabin-specific options such as lumbar pillows, throw blankets, premium duvets and fleece blankets โ all developed from premium brands that are leaders in their space.
American collaborated with the inflight textile company John Horsfall to develop bedding made with recycled materials from their Re-Threadยฎ collection*.
Reusable Zipper Product Bag
Bedding in American Airlines Flagshipยฎ First
Bedding in American Airlines Flagshipยฎ Business
Bedding in American Airlines Premium Economy
Bedding in American Airlines Main Cabin
Bedding in American Airlines Transcontinental Flagshipยฎ First Class
Bedding in American Airlines Transcontinental Flagshipยฎ Business Class
Nearly all of the pillows, duvets and blankets created for American flights were made with recycled fibers that maintain a premium feel, while filled bedding includes 100% recycled fill. To reduce single-use plastic waste connected to the distribution of pillows and blankets, customers traveling in Flagshipยฎ First, Flagshipยฎ Business and Premium Economy will now receive their bedding in a reusable zipper product bag also made with recycled fibers. Using the bag will save 25 tons of plastic waste a year.
New dining menus soar within the U.S. and beyond
While dining on board, customers can embrace the journey with diverse flavors and new menus that are inspired by popular American Airlines destinations worldwide. The offerings feature internationally inspired pastas, salads and more.
Travelers jet-setting to one of Americanโs new summer destinations like Nice, France; Naples, Italy; or Copenhagen, Denmark, will be able to relish delicious offerings like macadamia crusted sea bass with citrus cream sauce, quinoa, toasted orzo, and haricots verts. In addition to these offerings, pan roasted chicken, tortellini pasta and other offerings, including new pre-order options, will continue to roll out this spring for business class on flights from the U.S. to international destinations.
Customers traveling from Europe in business class can choose to indulge in menu items like chili marinated chicken with mojo verde sauce, sweet potato mash, roasted corn and mini chili or gnocchi duet with plain and beetroot gnocchi, lentil ragout, apple chutney, brown butter, roasted spring onion and sliced green onion.
Entrees: International US outbound Business Class entrees on American Airlines From left: Pan roasted chicken with pepperonata sauce, mashed potato with chives and broccolini. Macadamia crusted sea bass with lemon herb butter sauce, orzo salad haricot vert and red bell pepper. Tortellini in sauteed spinach with blushed tomato sauce and grilled zucchini and mushroom medley.
Customers traveling on domestic first class can also discover new offerings on their journey. Travelers can enjoy cuisine such as shawarma seasoned grilled chicken, three cheese sacchetti pasta, chicken enchiladas or a plant based stuffed red pepper. Customers can also choose from new pre-order options, including short rib mac and cheese.
These new options in premium cabins will provide a range of diverse culinary creations and award-winning wines. For AAdvantageยฎ members, miles and status can help unlock access to some of these premium inflight experiences.
Domestic First Class hot entrees on American Airlines Clockwise from top left: Vegetable enchilada with red rice and green chili sauce, garnished with crumbled cotija cheese. Cheese sacchetti with garlic cream sauce and marinara sauce, topped with a chopped parsley garnish. Penne pasta with plant-based meat ragu and ricotta, garnished with chopped parsley. Stuffed pepper, green rice and cilantro crema, garnished with crumbled cotija cheese.
Domestic First Class cold entrees on American Airlines Clockwise from top left: The Mediterranean bowl with garlic aioli dressing, couscous spiced with potatoes, almonds, baby arugula, shaved red cabbage, roasted red pepper hummus, tomato & cucumber salad and roasted spiced cauliflower. The bistro grain bowl with red long grain rice, crumbled blue cheese, fresh cucumber, Roma tomato, red onion, green scallion, hard-boiled egg, sorghum and Frisรฉe and Mesclun salad mix. The pesto pasta salad with baby arugula, pesto salad, red and yellow blistered cherry tomatoes, red pepper, sliced mozzarella, and a nut-free basil pesto sauce. The edamame and mandarin orange slaw salad with baby spinach, wonton strips, roasted cashews, green scallion and red miso vinaigrette
Suite experience
Beyond the new inflight amenities, bedding and dining options on board this summer, customers can look forward to an even more elevated experience onboard future Boeing 787-9, 777-300 and Airbus A321XLR aircraft, featuring a new interior with the Flagshipยฎ Suite seat and refreshed seats and amenities across Premium Economy and Main Cabin.
Customers traveling in the Flagship Suiteยฎ seat will be surrounded by comfort and convenience including wireless charging, Bluetooth capability and multiple storage spaces. With standard features such as lie-flat seats and direct-aisle access, American has modernized the experience by adding privacy doors and the ability to relax in a chaise lounge position, making the Flagship Suiteยฎ seat a personalized experience in the skies.
American Airlines Flagshipยฎ Suite Preferred seat
American Airlines Flagshipยฎ Suite Preferred seat
Customers looking for even more luxury will be able to further enhance their experience with a distinguished front row experience on new Boeing 787-9 and retrofitted 777-300 aircraft through the Flagship Suiteยฎ Preferred seat. This seat will offer customers expansive space, several storage areas and exclusive amenities like a Nest Beddingยฎ mattress pad, a throw blanket, a memory foam lumbar pillow, Nest Beddingยฎ pajamas and an exclusive amenity kit featuring additional skincare products from Thirteen Lune by Joanna Vargas and Relevant.
For AAdvantageยฎ members, using miles can help unlock access to upgrade into these enhanced premium experiences, including new inflight amenities, sleepwear, bedding and dining options.
Status members may also receive complimentary upgrades, further enhancing their premium travel experience.
The program rewards members for the time they spend with American, and also provides them with rewards and benefits. New in time for summer, members traveling on tickets purchased with miles can now receive upgrade offers to buy into a higher cabin via aa.com or mobile app when traveling within the contiguous U.S.
*Re-Threadยฎ products are made with certified materials.
American Airlines aircraft photo gallery (Airbus):
JetBlue Airways has announcedย Blueprint by JetBlueโข, a personalized inflight experience platform that will provide customers with more customizability across their travel journey, beginning with new inflight entertainment features, some of which have never before been implemented on a U.S. airline.
At-Home Entertainment in the Sky
As JetBlue continues to innovate industry-leading onboard technology, Blueprint by JetBlue brings new seatback touchscreen features that mimic what customers are used to experiencing with their favorite streaming platforms at home. Some of the new functions that customers can look forward to seeing on their seatback screens include:
Watch party:ย Watch the same film or TV show at the exact same time with up to five other customers on the flight. JetBlue is the first airline to allow up to six customers to watch entertainment content at the same time to enjoy family-style viewing. Play and pause can be controlled on all linked screens, regardless of where each viewer is seated.
Content recommendations:ย Receive personal recommendations for inflight entertainment based on previous viewing history.
Pick up where you left off:ย Whether connecting with a layover or flying next month, never miss the end of a film or television showโautomatically pick up where you left off from flight to flight.
Saved favorites:ย Save film and TV show selections to watch on future flights so you can spend less time searching and more time watching.
Saved settings:ย Accessibility and system settings, such as volume, language, parental controls and close captions preferences can now be saved and carried over from flight to flight.
Content partnerships:ย First-of-its-kind partnerships such as JetBlueโs exclusive streaming partner,ย Peacock,ย provide customers with access to exclusive entertainment and offers.
These new personalization features on JetBlueโs award-winning inflight entertainment system will give customers a bespoke inflight experience, not only throughout their current journey, but extending into subsequent flights when customers opt-in to securely authenticate their profiles on AVANT seatback touchscreens.
Tailored Touchpoints for Seamless Connection
Beyond inflight entertainment options, Blueprint expands on JetBlueโs existing products that give customers a more personalized experience and brings their entire travel journey to their fingertips:
Personal greetings:ย Customers can now change their preferred name on their JetBlue travel profile to be displayed in a personal welcome message on seatback screens, whether or not they identify with their legal name.
JetBlue is the only airline that greets customers with confetti graphics and a complimentary drink (21+) when flying on their birthday.
Flight connect:ย Customers can access information regarding their JetBlue connecting flights and gates right at their seat.
Seatback ordering:ย JetBlueโs seatback ordering feature that lets customers make meal selections directly from the seatback screen now extends to its A321neo with Mint aircraft, further elevating dining on all transatlantic flights.
Loyalty made easy:ย Customers can enjoy easy one-click sign-up to JetBlueโs TrueBlue loyalty program through a QR pop-up on seatback touchscreens that automatically populates first and last name directly on a personal device.
The new personalization functions have begun rolling out on JetBlueโs AVANT touchscreen aircraft powered by Thales and are expected to be completed next month.
โJetBlue has always been an innovator as the first to have seatback screens and fast, free and unlimited Wi-Fi on every aircraft,โ said Jayne OโBrien, head of marketing and customer support, JetBlue. โBy launching Blueprint by JetBlue, we are doubling down on our commitment to help customers create an inflight experience tailored to their needs and preferences, making their flight as comfortable as their own living rooms.โ
Since its inception in 2000, JetBlue has been the architect of industry-leading, customer-centric products that have pushed the industry standard forward. Whether with seatback entertainment at every seat, free Wi-Fia that allows for a multi-screen experience, the most legroom in coachb, or self-service snacks in the JetBlue Pantryยฎ, JetBlue consistently provides a seamless, customer-first onboard experience.
This is just the beginning for the airlineโs inflight personalization capabilities, which will continue to roll out under the Blueprint by JetBlue platform in the future.ย
Introducing Blueprint by JetBlueโข, a personalized inflight experience, giving you new ways to use your seatback screen with watch parties, the ability to resume your content on your next flight, entertainment recommendations and real-time arrival details.๐ Available on selectโฆ pic.twitter.com/KCg5StLNNV
Hawaiian Holdings, Inc., parent company of Hawaiian Airlines,ย Inc. reported its financial results for the first quarter of 2024.
“Mahalo to our team for remaining focused on delivering strong operational performance and unparalleled guest experience,” said Hawaiian Airlines President and CEO Peter Ingram . “2024 is off to a positive start as we work to start realizing the return on significant investments we’ve made in our business, including rolling out high-speed Starlink WIFI and taking delivery of our first Boeing 787.”
First Quarter 2024- Key Financial Metrics and Results
GAAP
YoY Change
Adjusted (a)
YoY Change
Net Loss
($137.6M)
($39.3M)
($143.5M)
($31.7M)
Diluted EPS
($2.65)
($0.74)
($2.77)
($0.60)
Pre-tax Margin
(23.7) %
(3.2) pts.
(24.8) %
(1.8) pts.
EBITDA
($109.0M)
($20.8M)
($116.0M)
($12.6M)
Operating Cost per ASM
15.72ยข
5.9 %
11.82ยข
7.1 %
Operating Revenue per ASM
12.78ยข
2.6 %
N/A
N/A
(a) See Table 4 for a reconciliation of adjusted net loss, adjusted diluted EPS, adjusted pre-tax margin, adjusted EBITDA, and adjusted operating cost per ASM (CASM excluding fuel and non-recurring items) to each of their respective most directly comparable GAAP financial measure.
The first quarter loss per share includes ($0.32) per share due to the reduction in the Company’s effective tax rate from 21% to 10%. As of 3/31/2024, the Company has generated federal and state net operating losses (NOLs) of approximately $451 million and $969 million , respectively, which will be used to reduce future cash tax obligations. Analysis under GAAP required us to increase the valuation allowance related to the NOLs which resulted in a lower effective tax rate for the period, decreasing our GAAP tax benefit.
Statistical data, as well as a reconciliation of the reported non-GAAP financial measures, can be found in the accompanying tables.
First Quarter 2024 Highlights
Merger Update
The Company’s stockholders voted in favor of the merger with Alaska Air Group, Inc. (”ย Alaskaย “)
The Company andย Alaskaย entered into a timing agreement with the Department of Justice (“DOJ”) in which they agreed not to consummate the merger before 90 days following the date on which both parties have certified substantial compliance with the DOJ’s second request for additional information
Liquidity and Capital Resources
As of March 31, 2024, the Company had:
Unrestricted cash, cash equivalents and short-term investments ofย $897 millionย
Liquidity ofย $1.15 billionย , including an undrawn revolving credit facility ofย $235 millionย
Outstanding debt and finance lease obligations ofย $1.75 billionย
Routes and Network
Began Boeing 787-9 Dreamliner revenue service onย April 15, 2024ย
Announced new flying fromย Salt Lake Cityย (SLC) toย Honoluluย (HNL) andย Sacramentoย (SMF) to Lihu`e (LIH) and Kona (KOA)
Announced increased summer flights between HNL andย Austinย (AUS),ย Bostonย (BOS),ย Las Vegasย (LAS) andย Pago Pagoย (PPG)
Hawaiian will also add a fourth daily flight between HNL andย Los Angelesย (LAX) fromย May 24 through September 2ย
Hawaiian received its second A330-300 freighter from Amazon which will operate betweenย New York’sย JFK andย San Bernardinoย (SBD)
Guest Experience
Starlink inflight connectivity is now available free of charge on board all 18 A321neo aircraft
Expanded Premium Airport Service product in itsย Honoluluย hub, offering seamless curb-to-aircraft experience with access to new airport private suite, Apt. 1929
Signed a multi-year distribution agreement with Sabre that will provide Sabre-connected agencies with long-term access to the carrier’s HA Connectโข NDC and traditional EDIFACT content through the Sabre travel marketplace.
Workforce Development
Partnered withย Universal Technical Instituteย , the transportation, skilled trades and energy education division ofย UTI, Inc. to expand career opportunities forย Universal Technical Instituteย airframe and powerplant graduates who earn their FAA certifications.
Second Quarter 2024 Outlook
The table below summarizes the Company’s expectations for the quarter ending June 30, 2024 expressed as an expected percentage change compared to the results for the quarter ended June 30, 2023 . Figures include the expected impacts of the Company’s freighter operation, which are not yet expected to be material.
Item
GAAP Second Quarter 2024 Guidance
Non-GAAP Equivalent
Non-GAAP Second Quarter 2024 Guidance
Available Seat Miles (ASMs)
Up 3.5% to up 6.5%
Operating Revenue per ASM (RASM)
Down 1.5% to up 1.5%
Costs per ASM (CASM)
Up 8.4% to up 10.7%
CASM excluding fuel and non-recurring items (a)
Up 5.0% to up 8.0%
Gallons of Jet Fuel Consumed (b)
Up 2.5% to up 5.5%
Average fuel price per gallon, including taxes and delivery (c)
$2.83
Economic Fuel Price per Gallon (a)(b)(c)
$2.85
Effective Tax Rate
~10%
Full Year 2024 Outlook
The table below summarizes the Company’s updated expectations for the full year ending December 31, 2024 expressed as an expected percentage change compared to the results for the year ended December 31, 2023 . Figures include the expected impacts of the Company’s freighter operation as the Company establishes its freighter operation.
Item
Prior GAAP Full Year 2024 Guidance
Updated GAAP Full Year 2024 Guidance
Non-GAAP Equivalent
Prior Non-GAAP Full Year 2024 Guidance
Updated Non-GAAP Full Year 2024 Guidance
Available Seat Miles (ASMs)
Up 6.0% to up 9.0%
Up 4.5% to 7.5%
Costs per ASM
Up 0.7% to up 3.0%
Up 4.1% to up 6.3%
CASM excluding fuel and non-recurring items (a)
Flat to up 3.0%
Up 1.0% to up 4.0%
Gallons of Jet Fuel Consumed (b)
Up 4.0% to up 7.0%
Up 3.0% to up 6.0%
Average fuel price per gallon, including taxes and delivery (c)
$2.55
$2.80
Economic Fuel Price per Gallon (a)(b)(c)
$2.59
$2.83
Capital Expenditures
$500M to $550M
No change
(a) See Table 3 and Table 4 for a reconciliation of CASM excluding fuel and non-recurring items and economic fuel price per gallon to each of their respective most directly comparable GAAP financial measures.
(b) Gallons of jet fuel consumed do not include fuel used in the freighter operation, as those expenses are pass-through expenses not born by the Company.
(c) Average fuel price per gallon and economic fuel price per gallon estimates are based on the April 10, 2024 fuel forward curve.
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