Your weekly travel and aviation Quote-a

The Blue Swan Daily brings you a roundup of the most thought-provoking and interesting comments from those industry leaders in the know.

Avianca CEO Hernán Rincón on the carrier deploying two A330-300 aircraft into operation 2Q2018:

“These aircraft are currently servicing the North American market and have enabled us to cancel one of three wet leased aircraft currently operated by Wamos Air Spain… We expect to redeliver the remaining two wet leased aircraft by the end of the third quarter of 2018, to again offer the Avianca travel experience without exception on all our flights while to optimising our cost structure”. Avianca also closed another Japanese operating lease with call option (JOLCO) financing transaction for one A320neo aircraft in 2Q2018, which “speaks to our close relationships with the financial markets, providing access to flexible, efficient and diverse aircraft financing opportunities”, Mr Rincón said.

Viasat chairman and CEO Mark Dankberg on the company’s Q1FY2019 results:

“Our first quarter results signal a promising start toward driving meaningful growth in fiscal year 2019, by capitalizing on the service launch of ViaSat-2 and leveraging prior year research and development and infrastructure investments… All segments contributed to 15% year-over-year revenue growth and even stronger 29% year-over-year new contract awards growth, which together build confidence in sustained or accelerating growth for the fiscal year as a whole. Prior investments in network and business infrastructure create the opportunity for significant margin expansion as we accumulate the benefits of growing revenues in residential, IFC, government, Wi-Fi and enterprise broadband services over the course of the fiscal year”.

Dubai Aerospace Enterprise (DAE) CEO Firoz Tarapore on 1H2018 results:

DAE’s strong performance in the first half is the culmination of a lot of hard work that has gone into ensuring a smooth and successful integration and these results would simply not have been achievable without a smooth transition to a combined platform… Today, DAE is an exceptionally strong company created by marrying stable and strong ownership with the platform capabilities we acquired last year. Our expectation is for continued improvement in our financial metrics and liquidity profile that will eventually lead to higher credit ratings”.

London Stansted Airport CEO Ken O’Toole on upcoming investments, pax growth expectations:

“Over the next five years we are investing GBP600m in transforming the airport experience for passengers, the main elements of which will be the construction of a new arrivals terminal, a revamp of the existing terminal, upgrades to the baggage system and more car parking spaces. With limited spare capacity at other airports in the South East, Stansted will deliver 50% of London’s expected passenger growth over the next decade. Given this anticipated growth, we have applied for permission to raise the number of passengers we serve to 43 million a year, with a firm commitment to do so without any additional flights or noise impacts beyond our current permissions”.

Jet Airways CEO Vunay Dube on recent reports of pay reductions at the carrier:

“We are looking at multiple elements of restructuring and payroll is one of them. We are in deep dialogue with our staff and they are extremely supportive of our restructuring plans. In that we will make the best decision in the interest of the company and the employees”.

TUI Group CEO Fritz Joussen on third quarter/nine month results” in the period from 01-Oct-2017 to 30-Jun-2018:

“Our sector earns its profits in the fourth quarter. We have delivered a profitable operating result already after nine months for the second year in a row. For the full year, we expect to deliver double-digit earnings growth for the fourth consecutive time. TUI is in good health, we are flexible, deliver a strong operational performance and invest in our growth segments while maintaining our cost discipline… We reiterate our guidance for the full financial year and expect our underlying EBITA to grow by at least 10%”.

Hong Kong Civil Aviation Department on ‘momentary hitch’ of ATM system on 13-Aug-2018:

Throughout the occurrence, full information (including flight position, altitude information, secondary surveillance radar code, call sign and aircraft type) of the vast majority of flights in the Hong Kong Flight Information Region was continuously displayed on the radar screens, except for three flights for which only the three essential types of information, i.e. flight position, altitude information and secondary surveillance radar code, could be shown… Aviation safety was not affected by the occurrence”. HKCAD also maintained that controllers “were able to keep direct voice communication with the pilots at all times and simultaneously obtain all flight information” via ADS-B.

Expedia Group president and CEO Mark Okerstrom on acquisition of AirAsia’s remaining 25% equity interest in AAE Travel

“AirAsia has been a fantastic partner for the past seven years, helping to establish Brand Expedia as a strong and increasingly locally relevant player in the Asia region. Acquiring full ownership of AAE Travel reflects our belief in the immense potential for us in the over $485 billion Asian travel market. This transaction unlocks better integration of our Brand Expedia Asia business into our core global travel platform, giving us even greater confidence in our ability to harness the huge growth potential that Asia represents”.