Singapore Airlines Awards Staff With Bonus Equivalent to Nearly Eight Months Salary

Singapore Airlines has announced that it will reward staff with a bonus equivalent to eight months of salary, following the airline's record-breaking profits.

Ryan Ewing

Wednesday, May 15, 2024 at 04:59 PM ET

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Ryan Ewing

Up close with a Singapore Airlines A350 at Seattle-Tacoma. (Photo: AirlineGeeks | Katie Zer

Singapore Airlines has announced that it will reward eligible staff with a bonus equivalent to nearly eight months of salary, following the airline’s record-breaking profits for the fiscal year 2024. According to a company memo viewed by The Straights Times, the bonus includes a profit-sharing component of 7.94 months in line with labor contracts. This decision comes after the airline posted a record profit of S$2.7 billion (USD $2 billion) for the fiscal year ended on March 31, 2024.

Last year, employees received a bonus of 6.65 months of pay, which included a 1.5-month increase for some workgroups following the COVID-19 pandemic. The airline has nearly 15,000 employees around the globe.

The carrier’s record profits for the fiscal year were driven by a strong recovery in air travel demand and the airline’s strategic initiatives. The group, which includes the budget airline Scoot, carried 36 million passengers, a nearly 40% increase from the previous year.

Singapore says its sales remain healthy across all cabin classes, with strong bookings to China, Japan, and South Korea along with Southeast Asian countries.

The airline’s employee bonus plan comes just days after Emirates announced a similar pay-out. Its staff will receive a bonus worth five months of salary in the coming weeks.

Ryan Ewing

Ryan founded AirlineGeeks.com in February 2013 and has spent more than a decade covering the airline business. His work has been featured by CNN, WJLA, CNET, and Business Insider. His aviation experience spans airport operations, Part 135 regulatory compliance, and airline crew workforce planning, along with time behind the yoke of a Cessna 172 and interviews with airline executives. Ryan now serves as Group President of Firecrown Media’s Aviation Group. He holds a B.S. in Air Transportation Management and an MBA from Arizona State University and teaches Airline Management at Embry-Riddle Aeronautical University.

Bonza’s Future Remains Uncertain

Bonza, the recently shut down carrier in Australia, has no end in sight for returning to the skies after two weeks of canceling its flights.

Pete Ainsley

Wednesday, May 15, 2024 at 02:30 PM ET

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Ryan Ewing

A Bonza 737 MAX aircraft. (Photo: Shutterstock)

Bonza, the recently shut down carrier in Australia, has no end in sight for returning to the skies after two weeks of canceling its flights. Hall Chadwick, the administrator of the airline, said that the suspension of flight operation would be held until May 29.

The airline owes a debt of over $116 million, including $5.3 million in salaries with more than 300 employees were affected; salaries in April remained unpaid. Also, the airline owes $4.6 million to an aircraft lessor, $10.5 million to airports, $58,000 to customers, and $16 million to trade creditors.

“Two months is a long time to go without pay.” Emily McMillan, Transport Workers’ Union national assistant said to ABC. In the meantime, passengers seem stuck in limbo as no refunds are being processed.

According to ABC, about 20 parties including investors, airlines and travel companies held talks to revive Bonza. However, Bonza has suffered from a setback; Vietjet, one potential buyer, walked away from talks. The second creditor’s meeting will be held in the coming weeks and a vote about the company’s future is expected.

The Sunshine Coast-based airline abruptly canceled its fight operations and entered voluntary administration, leaving thousands of passengers stranded across the country. It came after AIP, the aircraft lessor, terminated leases.

Two Leased Aircraft Left Australia

Earlier, Hall Chadwick fell short of reaching an agreement with AIP allowing the aircraft to operate again.

Bonza owned a fleet of five Boeing 737 MAX 8 aircraft carrying 186 passengers with every jet featured a nickname. But two aircraft, Bruce and Bazza, were repossessed by AIP Capital and left the country. Bruce is expected to be leased to Flair Airlines, a low-cost airline in Canada.

“The administrators have regretfully been advised that the lessors will continue to enforce their rights under the termination notices and, subject to their own requirements and arrangements, seek to reposition the fleet elsewhere,” Hall Chadwick said.

Bonza launched in January 2023 and committed to bringing more new domestic destinations across the country. The no-frills airline is best known for providing flights to regional destinations not operated by other Australian carriers.

Pete Ainsley

Copa Delays 737 MAX 8 Launch Amid Boeing Delivery Woes

Copa Airlines is feeling the effects of Boeing's delivery woes as it further delays the launch of its new 737 MAX 8 aircraft.

Ryan Ewing

Wednesday, May 15, 2024 at 01:14 PM ET

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Ryan Ewing

A Copa Boeing 737 MAX aircraft (Photo: Shutterstock)

Copa Airlines is feeling the effects of Boeing’s delivery woes as it delays the launch of its new 737 MAX 8 aircraft. The Panamanian carrier – which currently only operates Boeing 737-700, 737-800, and 737 MAX 9 jets – is now slated to debut the smaller MAX 8 type in early September, according to schedule data from Cirium Diio.

The airline had originally planned to begin service with the new aircraft on July 5, 2024 between Panama City and Trinidad, per Gate Checked. The airline later revised its schedule, shifting the launch to August 15, according to Aeroroutes.

In Copa’s latest schedule filing from this past weekend, the carrier has further delayed the aircraft’s entry into revenue service to Sept. 2, 2024, nearly two months behind schedule. The aircraft’s inaugural flight is slated from Panama City to Quito.

According to the most recent schedule, the carrier plans to ramp up 737 MAX 8 operations in September to 196 flights, including to U.S. destinations of Boston, Miami, Orlando, and Washington Dulles. This plan is down substantially from the 323 flights planned in the airline’s earlier schedule iteration.

Copa’s 737 MAX 8 will be laid out in a standard 166-seat configuration, eight fewer than the carrier’s higher-density MAX 9 aircraft. The MAX 8 will have 16 business class seats along with 150 in economy.

Per Cirium Ascend Fleet Analyzer data, Copa has seven 737 MAX 8s on order in addition to 15 yet-to-be-certified MAX 10s. The carrier’s current fleet of 737 MAX aircraft includes 30 of the larger MAX 9 variant.

In a statement to AirlineGeeks, the airline said it does not yet have a firm delivery date for the first MAX 8.

Ryan Ewing

JAL Debuts New Special Livery for EXPO 2025

JAL unveiled its special "JAL MYAKU-MYAKU JET" livery for international and domestic routes in celebration of the upcoming 2025 World Exposition.

Ryan Ewing

Wednesday, May 15, 2024 at 09:54 AM ET

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Ryan Ewing

The inaugural Boeing 787 Dreamliner for JAL preparing for a flight from Seattle to Tokyo. (Photo: AirlineGeeks | Katie Zera)

Japan Airlines (JAL) unveiled its special “JAL MYAKU-MYAKU JET” livery for international and domestic routes in celebration of the upcoming 2025 World Exposition (EXPO 2025) in Osaka, Japan.

The Boeing 787-8 Dreamliner registered as JA823J will feature a unique design incorporating the exposition’s official character, MYAKU-MYAKU, and other EXPO elements. Passengers flying on select routes between Tokyo (Haneda and Narita), Osaka (Kansai), and destinations like Seoul, Taipei, Shanghai, Bangkok, and Ho Chi Minh City can expect to see the special livery starting June 3, 2024.

JAL’s new special livery for EXPO 2025 (Photo: Japan Airlines)

The “JAL MYAKU-MYAKU JET” serves as the second installment in JAL’s special livery series promoting EXPO 2025. The first featured a design on an Embraer 190 operated by J-AIR.

JAL aims to use these special liveries to raise awareness for EXPO 2025, encouraging visits to the exposition and other tourist destinations across Japan.

The “JAL MYAKU-MYAKU JET” is scheduled to operate until August 2025. The airline plans to introduce a third special livery aircraft dedicated to domestic flights in the future.

Ryan Ewing

China’s COMAC Begins Developing New Widebody Aircraft

Chinese aircraft manufacturer COMAC has reportedly begun development on a new widebody airliner dubbed the C939 to compete with Airbus and Boeing.

John McDermott

Tuesday, May 14, 2024 at 05:05 PM ET

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Ryan Ewing

Boarding a COMAC C919 (Photo: AirlineGeeks | Lei Yan)

Chinese aircraft manufacturer COMAC has begun work on a new widebody airliner dubbed the C939. The South China Morning Post, citing unnamed sources, reports that COMAC has already developed design concepts for the jet, but it will still be years before an actual prototype is built.

Details about the program are currently few. COMAC has not yet commented on the development of a new type, instead saying that official word will come. However, the C939 could potentially seat up to 390 passengers, allowing it to compete with the largest Boeing 777 and Arbus A350 aircraft.

COMAC already has a widebody aircraft in development, dubbed as the C929. The aircraft will aim to compete with the Boeing 787 and Airbus A330. It will have 280 seats and a range of nearly 6,500 nautical miles. The C929 was originally designed in conjunction with United Aircraft, a Russian company, but it became a wholly Chinese project after Russia’s full-scale invasion of Ukraine.

The COMAC C919, which has been flying since its certification in late 2022, has amassed nearly 1,000 firm orders, most of which come from Chinese-owned airlines and leasing firms.

Having multiple widebody aircraft in production would put COMAC on par with the other two major international aircraft manufacturers: Boeing has both the 777 and 787, and Airbus has the A330neo and A350. However, both of Boeing’s aircraft are facing delays and production issues despite having significant orders. The A350 is performing well, though the A330neo’s orders have fallen short of expectations.

A Long Road to Scaling Up

This does not mean that either of COMAC’s widebody aircraft will compete long-term on a global scale. The C919 has not yet been certified in any major aviation market outside of China and only four have been delivered.

What COMAC aircraft could do is reduce China’s dependence on Western aircraft down the road. This, again, is not something that will happen soon; four deliveries in nearly 18 months is not a sustainable rate, and the Chinese market is so big that Airbus and Boeing both have manufacturing facilities in China.

Still, assuming the Chinese firm can continue ironing out the issues that are slowing down deliveries, there is a world where the manufacturer plays a significant role, especially as China’s market continues to grow.

More details on the C939 are surely to come as it enters the next step of development. Comparisons between official details on the C929 and C939 will be notable, as will initial orders for each type. However, neither is expected to even begin test flights, let alone enter service, for years to come.

John McDermott

John McDermott is a commercial pilot pursuing a career in professional flight. His passion for aviation began in an Ann Arbor bookstore with a tale of enemy pilots during World War 2, and he hasn't looked back. Besides flying and writing for AirlineGeeks, John volunteers with Professional Pilots of Tomorrow and travels whenever he gets the chance.

Malawi Airlines Announces Route Expansion

Malawi Airlines says it will launch flights to Mozambique, Rwanda, and Uganda. This is part of the airline’s route expansion strategy.

Lorne Philipot

Tuesday, May 14, 2024 at 12:02 PM ET

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Ryan Ewing

A Boeing 737-800 aircraft (Photo: Shutterstock)

Malawi Airlines says it will launch flights to Mozambique, Rwanda, and Uganda. This is part of the airline’s route expansion strategy. According to NyasaTimes, the airline’s marketing manager, Only Taulo, said that the route expansion was a sign of growth for the airline.

Proposed destinations include Kigali in Rwanda as well as Nampula and Pemba in Mozambique. While launch dates are not yet known, Kigali flights are likely to commence soon while services to Pemba and Nampula are expected a little later this year. The airline also plans to start flights to Entebbe in Uganda in late 2024.

Malawi Airlines’ route expansion is viewed as a positive step that could generate increased foreign exchange revenues, underscoring the important economic role played by the aviation sector.

Boost For Tourism Sector

Dean of Tourism at Malawi’s Mzuzu University, Dr Lameck Zetu Khonje, welcomed the announcement, saying it was a positive move for Malawi’s tourism industry. In an effort to boost tourist arrivals, Malawi lifted visa restrictions for nationals of 79 countries in February.

The small African country has an economy that is predominantly agriculture-based. However, it also has a significant tourist economy, centered around Lake Malawi. The lake is the fourth largest freshwater lake in the world by volume, the ninth largest in the world by area, and the third largest and second deepest in Africa.

Khonje also said that Rwanda and Mozambique were key tourist destinations and that introducing services to these destinations stood to benefit the local economy. Furthermore, he predicts that the nonstop flight links could drive visitor flows to Malawi. Khonje emphasized the broader benefits of connecting tourism hotspots across the region.

Malawi Airlines

Malawi Airlines is the flag carrier of Malawi, with its hub at Lilongwe International Airport. The airline was established in 2012 after the liquidation of former national airline, Air Malawi. Ethiopian Airlines, which owns 49% of Malawi Airlines, now operates the carrier under a management contract.

Malawi Airlines offers a compact route network with its fleet consisting of two Boeing 737-800 aircraft. Domestic operations include Blantyre and Lilongwe. International routes served include Nairobi, Kenya; Johannesburg, South Africa; Dar es Salaam, Tanzania; Lusaka, Zambia; and Harare, Zimbabwe.

Lorne Philipot

Lorne is a South Africa-based aviation journalist. He was captivated and fascinated by flying from the day he took his first airline flight. With a passion for aviation in his blood, he has flown to destinations in all corners of the globe. Lorne has traveled extensively and lived in various countries. Drawing on his travels and passion for aviation, Lorne enjoys writing about airlines, routes, networks, and new developments.

TAAG Angola Airlines Takes Full Control of Luanda-Lisbon Route

Angolan airline TAAG has terminated its service agreement with Portuguese carrier HiFly, assuming full management of the Luanda-Lisbon route.

Victor Shalton

Tuesday, May 14, 2024 at 10:30 AM ET

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Ryan Ewing

A TAAG Angola Boeing 777 aircraft (Photo: Shutterstock)

Angolan airline TAAG has terminated its service agreement with Portuguese carrier HiFly, assuming full management of the Luanda-Lisbon-Luanda route. According to Nelson de Oliveira, CEO of TAAG, the airline currently operates flights to Lisbon, specifically with flights DT 652 and DT 650, as reported by the E&M media website on May 13, 2024.

“TAAG resumed its DT flight (…), ending the service that was provided by Hifly,” said the CEO of the Angolan flag carrier.

In June 2022, TAAG and Portuguese ACMI specialist HiFly announced an agreement involving an Airbus A330 aircraft. The agreement, signed by former TAAG CEO Eduardo Fairen Soria, was justified as a solution to ensure the “continuity and regularity” of operations on the Luanda-Lisbon route, which experiences high demand. The decision coincided precisely with the maintenance work that TAAG is carrying out on part of its long-haul fleet, specifically the Boeing 777s model.

TAAG aims to reintegrate its Boeing 777, averaging 17.5 years old, into service as the airline awaits the arrival of new widebody aircraft later in August this year. Last month, on April 25, 2024, TAAG Angola Airlines finalized a 5-year contract with Air France Industries KLM Engineering & Maintenance (AFI KLM E&M) for Boeing 777 repair support. The contract also includes an MBK (Main Base Kit) for TAAG’s fleet of five Boeing 777-300ER and three Boeing 777-200 aircraft.

TAAG Angola Airlines offers two daily flights from Luanda to Lisbon, totaling 14 flights per week. These flights are operated using Boeing 777-300ER aircraft, which accommodate 293 passengers. The seating configuration includes 12 in the ‘business plus’ class, 56 in the ‘standard business’ class, and 225 in economy class. TAP Air Portugal provides direct competition with daily flights on the same route.

While TAAG currently serves only Lisbon in Europe, the airline plans to resume its Luanda-Madrid route during the Northern winter 2024/25 season. Passengers can now make reservations for travel on or after Oct. 29, 2024, as reported by AeroRoutes on May 10, 2024. Additionally, Iberia will display IB-coded flight numbers on this route starting from the same date.

Currently, TAAG Angola Airlines operates a fleet of 23 aircraft, including nine 737s, eight 777s, and six De Havilland Canada DHC-8-400s. The airline is however looking to expand its fleet with an order signed in October 2023 with Boeing for four new Boeing 787 Dreamliners, comprising of two 787-9s and two 787-10s. Deliveries are expected to begin as early as August 2024.

In preparation for these additions, TAAG has ordered eight GEnx-1B engines, along with one spare engine, to power its 787 fleet. The airline has also signed long-term lease agreements for fifteen Airbus A220 aircraft from various leasing firms, with deliveries scheduled to begin in Q3 2024.

Victor Shalton

Victor Shalton's love for aviation can be traced to when he was 11-years-old. As a seasoned aviation writer, he takes pride in providing the best aviation coverage around the globe and is passionate about advancing his skills in the aviation space. In addition, he loves travelling, writing, arts and while his speaking engagements have taken him around the world, he is proud to call Nairobi home.

Emirates Employees to Receive Bonus of Five Months Salary

Emirates is giving its over 100,000 employees a bonus worth 20 weeks of their respective salaries after posting record profits.

Ryan Ewing

Monday, May 13, 2024 at 01:00 PM ET

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Ryan Ewing

An Emirates A380 lands in London (Photo: AirlineGeeks | William Derrickson)

After posting a record profit of 7.2 billion dirhams ($4.7 billion) for its 2023-2024 fiscal year, Emirates is giving its over 100,000 employees a bonus worth 20 weeks of their respective salaries. The Dubai-based carrier’s profits increased 63% year-over-year.

According to a report in the Khaleej Times, the company’s employees will receive the one-time payout in May. The airline said its workforce grew by 10% last year with a total of 112,406 staff members in 84 countries.

In an email viewed by the Khaleej Times, the airline’s chief Sheikh Ahmed bin Saeed Al Maktoum commended employees “for powering our collective ambitions and for achieving them, you deserve every dirham of the 20-week profit share.”

Emirates captains make an average of approximately $9,000 per month per data from Epic Flight Academy. Based on these figures, bonuses could be as much as $50,000 for some workgroups.

The airline added that it is continuing to hire pilots, flight attendants, and ground staff this year, including for its ground handling subsidiary Dnata. Last year, Emirates gave employees a similar bonus worth 24 weeks of salary.

Ryan Ewing

SkyWest Confirms CRJ-550 Operations for Delta Connection

The airline plans to deploy the aircraft in markets previously served by single-class regional jets starting later this year.

Ryan Ewing

Monday, May 13, 2024 at 10:55 AM ET

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Ryan Ewing

A Delta Connection CRJ-700 aircraft (Photo: Shutterstock)

SkyWest will soon operate the premium-heavy CRJ-550 aircraft under the Delta Connection brand, a spokesperson from the regional carrier confirmed on Monday. Delta recently listed the aircraft type on its website’s fleet page.

Currently operated by only GoJet for United Express, the CRJ-550 is a CRJ-700 airframe with just 50 seats. The United Express aircraft feature some interior enhancements, including large closets for roller-board bags and a snack bar in first class.

According to its website, Delta’s CRJ-550 will have 10 first class seats, 20 Comfort+ seats, and 20 standard economy seats. This configuration is nearly identical to United’s offering.

Delta’s CRJ-550 seat map (Photo: Delta.com)

Where Will Delta Fly the CRJ-550

Last month, SkyWest confirmed during an earnings call that it would be transitioning CRJ-700s from an expiring contract to CRJ-550s. At the time, the airline did not say which one of its major airline partners would market the type.

Per numerous Essential Air Service (EAS) documents from late 2023, Delta was positioning to use the CRJ-550 for some time, especially after the retirement of its 50-seat single-class CRJ-200 aircraft in December. The Atlanta-based carrier was the first major U.S. airline to completely remove the CRJ-200 from its regional fleet.

A SkyWest spokesperson confirmed the CRJ-550 will operate in markets previously served by the CRJ-200.

“SkyWest is in the process of implementing the CRJ550 in its Delta Connection operations later this year. The two-class CRJ550 will be modified from SkyWest’s existing fleet and will replace flying that was previously single-class to align with the Delta Connection experience customers have come to expect from Delta,” SkyWest told AirlineGeeks in a statement.

Last year, Delta issued a directive requiring all regional flights to include dual-class aircraft. 13 Essential Air Service (EAS) communities were affected by this requirement, including Alpena, Pellston, Sault Ste. Marie, Escanaba, and Iron Mountain in Michigan; Brainerd, Bemidji, Hibbing, and International Falls in Minnesota; along with Rhinelander, Wis.; Aberdeen, S.D.; Cedar City, Utah; and Butte, Mont.

Ryan Ewing

airBaltic Plans a Bond Issue of €340 Million

The Latian flag carrier, airBaltic, leads the way as one of the nation's most known corporations on its path to an upcoming IPO.

Filip Kopeć

Monday, May 13, 2024 at 10:20 AM ET

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Ryan Ewing

airBaltic Airbus A220-300 at Riga Airport (Photo: airBaltic)

Last week airBaltic reached an important milestone on the path towards its IPO. The carrier reported pricing a EUR 340 million (USD $367,113,300) issue of 14.50% 5.25-year (five years and three months) senior secured bonds.

An Important Step

The company proudly announced that the demand for the bond exceeded the supply, ramping up an order book of EUR 800 million (USD $862 million). More than 100 global institutional investors from over 20 countries across 3 continents will contribute to the final allocation. The bond will play a vital role in the company’s near future as mentioned by the CEO, Martin Gauss:

“The successful placement of this bond serves to refinance our previously issued 200 million euro bond, demonstrating the trust investors have in airBaltic’s strategy. This refinancing will substantially boost the company’s liquidity and financial stability allowing us to continue our investments in expanding and modernizing our fleet. This marks a historic milestone for our airline.”

The interest rate on airBaltic’s corporate bond grew substantially from 6.75% on the previous bond to 14.5% this time around. This is a result of the global increase in the cost of capital and the risk premium for the region. In 2019 the European Central Bank interest rates had been hovering at a near-zero level for a decade. The ECB’s main refinancing rate is currently 4.50%.

On top of that, the Russian invasion of Ukraine posed a major geopolitical risk to the region. airBaltic stopped operating to both of the nations which, before the war, were major air traffic demand centers for the carrier.

A History-Telling Chart

The valuation of the previous airBaltic bond tells a story of two crises the company went through in the past years.

airBaltic’s 2019 bond valuation at the Frankfurt Stock Exchange (Source: TradingView.com)

Back in 2019, the carrier had just gone through a major turnaround in the mid-2010s. It took a new vector by changing its fleet from a bouquet of narrowbody types to a single-type fleet focusing on the Bombardier CS300, now operating as the Airbus A220. The bond issue was set to accelerate airBaltic’s fleet expansion.

Soon enough the first headwind came with the pandemic resulting in the carrier suspending all the flights. International air transportation in Europe came to a halt and the Baltic states are too small of markets to offer the potential for domestic connectivity. With such a hard impact on the company’s business, valuation of the corporate bonds plummeted as bankruptcy probability rose.

airBaltic’s network in 2024 (Source: flightconnections.com)

The carrier has made a swift recovery. With the Latvian government’s backing, it was clear already in 2021 that the national carrier is bound for success in the post-pandemic landscape. Unfortunately for airBaltic, a big portion of its business was oriented East, towards Russia and Ukraine. The second blow spurred another wave of worries about the company’s future.

Filip Kopeć

A passionate aviation enthusiast that started off his career as an aerospace engineer, but found his true calling on the commercial side of the airline business. Now as a finance guy among avgeeks and an avgeek among finance guys, he has experience working in the Revenue Divisions of three airlines. In his spare time he enjoys traveling, but admittedly sometimes is more about the journey than the destination.