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AviTrader Weekly News 2018-02-19

AviTrader Weekly News 2018-02-19

AviTrader Weekly News

ISSN 1718-7966 February 19, 2018/ VOL. 628 WEEKLY AVIATION HEADLINES Read by thousands of aviation professionals and technical decision-makers every week www.avitrader.com WORLD NEWS L3 CTS launches new European airline academy L3 CTS announced the introduction of its new European Academy into the company’s cadet pilot training offering. The L3 European Airline Academy facility, based at Ponte de Sor Airport, Portugal, has the capacity to provide world-class training for up to 500 cadets a year. More than 1,000 cadet pilots started training with L3 CTS in 2017, and the new facility will allow the company to better address the growing worldwide demand for pilots. Copa Airlines announces new services Copa Airlines, a member of the Star Alliance announced the start of operations in July this year to Salvador and Fortaleza, in Brazil, and the island of Barbados in the Caribbean. Through this addition, the airline will expand its network of routes in the continent by connecting 78 cities in 32 countries in North, Central and South America and the Caribbean, through the Hub of the Americas, located in Panama City. Cobalt Air adds access to Abu Dhabi from Larnaca Hot on the heels of a recent new route to Düsseldorf, Cobalt Air will inaugurate a new three times weekly service linking Abu Dhabi with Larnaca, beginning on 25 February. Cyprus’ largest airline will offer its new signature business class on the route. Andrew Madar, CEO, Cobalt Air commented: “We are thrilled to add Abu Dhabi to our network which is a key strategic route for Cyprus tourism and business. This sector will not just offer direct flights to Cyprus, but also onward connections to London Heathrow. Norwegian reports losses Amid a massive global expansion The ever-expanding budget carrier Norwegian Air has posted bigger than expected losses The net loss was -299 million NOK (-£27.4 million) in 2017, while the earnings before interest, taxes and depreciations (EBITDA) was 60 million NOK (£5.5 million). The airline said significant costs related to increased fuel prices, wet lease and passenger care affected the results. The company’s total revenue was almost 31 billion NOK (£2.8 billion) - an increase of 19 per cent compared to 2016. A total of 32 brand new aircraft entered the fleet, contributing to a production growth (ASK) of 25 percent. The load factor was unchanged at 88 percent. A total of more than 33 million passengers chose to travel with Norwegian in 2017, an increase of 13 percent compared to previous year. “We are not at all satisfied with the 2017 results.” Bjørn Kjos CEO of Norwegian For the fourth quarter, the net loss was 919 million NOK (£84.4 million). The total revenue was more than 7.8 billion NOK (£716.5 million), an increase of 30 percent from the same period last year, primarily driven by international growth as well as an increased traffic in the Nordics. Just over 8 million passengers flew with Norwegian this quarter, a growth of 12 percent. The load factor was 85.3 Norwegian will continue to expand despite losses. Photo: Norwegian percent. Norwegian made major investments in the fourth quarter related to training of pilots and cabin crew on both its wide-body and narrow-body fleet to prepare for the growth in 2018. “We are not at all satisfied with the 2017 results. However, the year was also characterised by global expansion driven by new routes, high load factors and continued fleet renewal. Through our global strategy, we contribute to local economic boost and increased employment at our destinations, as well as ensuring that more people can afford to fly - not least between the continents. In 2017, we received several major international Continued on page 3

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