The Blue Swan Daily brings you a roundup of the most thought-provoking and interesting comments from those industry leaders in the know.
Southwest Airlines chairman and CEO Gary Kelly on the carrier not decided if it will seek damages against Boeing:
“There are definitely significant damages. I think it’s a little premature to say exactly how we’ll proceed, but we’ve had a wonderful partnership, if you will, with Boeing”.
Ethiopian Airlines Group CEO Tewolde GebreMariam said the carrier is developing a revised 15 year strategic plan titled ‘Vision 2035’ after it achieved most of the goals under the existing ‘Vision 2025’ plan ahead of schedule:
“Fortunately we have accomplished most of the targets we planned to accomplish in 2025 eight years a head, so there is no point of talking about Vision 2025. Because the targets are already achieved. We have discussed with our board and agreed to come up with a new strategic road map”. Regarding the ‘Vision 2035’ plan, Mr GebreMariam stated: “It will be by and large scaling up our fast, profitable and sustainable growth. We will not have business model change but we will be scaling up the growth”. Under the ‘Vision 2025’ plan, the value of the company is expected to increase from USD1.3 billion in 2010 to USD4.1 billion in 2019. The ‘Vision 2035’ plan is intended to further grow the business to a USD25 billion enterprise by 2035.
fastjet CEO Nico Bezuidenhout on its current trading highlights:
“Despite the impact of cyclones in Mozambique at the start of the current year and continued fuel protests and currency volatility in Zimbabwe, fastjet is making progress and expects to generate a marginal underlying operating profit for 2019, with further route expansion planned for Zimbabwe in the second half of the coming year, as well as a brand entry into South Africa in 2020”.
Cargolux president and CEO Richard Forson on reporting an increase in net profit after tax for the second consecutive year in 2018:
“Cargolux achieved exceptional financial results in 2018 despite slower economic growth in the second half of the year. Strong focus on the management of our capacity and yields, increased demand for specialised shipments, a record year for our charter division and the diversification into offering ACMI solutions all contributed to the performance achieved”.
Boeing chairman, president and CEO Dennis Muilenburg on plans to issue a new 2019 financial guidance “at a future date”, due to the impact of issues related to the 737 MAX and uncertainty of the timing and conditions surrounding the return to service of the 737 MAX fleet:
“As we work through this challenging time for our customers, stakeholders and the company, our attention remains on driving excellence in quality and performance and running a healthy sustained growth business built on strong, long-term fundamentals.”