September 24, 2024

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September 24, 2024

Azores Airlines: New connection between Terceira and New York

From October 28, 2024, Azores Airlines will launch a new weekly flight connection between the island of Terceira and New York City. In parallel, the existing route between Terceira and Boston will be extended for the winter season. These measures are part of the airline's strategic expansion, which aims to strengthen its connections between the Azores island of Terceira and North America. The new schedule not only ensures connectivity to key North American markets, but also helps improve domestic air traffic within Portugal. Azores Airlines is thus responding to increasing demand and expanding the range of flights between Terceira and the Portuguese cities of Porto and Lisbon. Strengthening connections with North America The launch of a weekly direct connection between Terceira and New York City is a significant step in Azores Airlines' strategy to position the Azores as a gateway to North America. The United States is an important market not only for tourists, but also for the Portuguese diaspora living in the United States, especially in the metropolises of New York and Boston. The expansion of the Boston route and the new New York connection will make the Azores island of Terceira much more accessible for travelers from North America. Tourism in the Azores has been on a steady rise for several years. The new flight connection will not only provide better connections to the Azores for vacationers, but also for business travelers and the Portuguese community in the USA. The Azores are an attractive destination, especially for visitors who are looking for both nature experiences and Portuguese culture. Terceira, known for its picturesque landscapes and historic towns, will be made even more accessible by the new

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Transavia expands route network with new routes to Tbilisi and Figari

Transavia, the low-cost subsidiary of the Air France-KLM group, has announced the launch of two new routes in 2025. From April 9, 2025, the airline will operate a route from Paris Orly to Tbilisi, the capital of Georgia, for the first time. The flights will be offered twice a week, with fares starting at €79, and are aimed at travelers who want to explore alternative destinations. This new connection is part of Transavia's fleet renewal, which will include 2025 aircraft by summer 87, and demonstrates the airline's commitment to expanding its presence in the Caucasus region. In addition, a seasonal connection from Nantes Atlantique to Figari in Corsica will start on April 9, 2024, available until October 28. This route will make it easier for travelers from the Nantes region to access the popular holiday destination. Both new routes reflect Transavia's goal of offering affordable travel options to meet the growing demand for leisure travel.

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Schauinsland-Reisen expands portfolio: Oman and Albania new in the offer

The German tour operator Schauinsland-Reisen, known for its broad portfolio of vacation trips, recently announced the addition of two new trend destinations to its offering. Oman will be included in the program from October 2024, while Albania will be added as another attractive destination from summer 2025. This expansion marks an important step in the strategic realignment of the company, which is responding to the growing trend towards exotic and previously lesser-known vacation destinations. Oman: A paradise for luxury and adventure vacationers Oman, a country in the southeastern part of the Arabian Peninsula, is now offered by Schauinsland-Reisen. In recent years, the Sultanate has established itself as a particularly popular destination for travelers from German-speaking countries. Schauinsland-Reisen's head of tourism, Andreas Rüttgers, emphasizes: “We have been recording double-digit growth rates in the United Arab Emirates for years. That is why we have decided to include the Sultanate of Oman, another country from the Arab world, in our program, which has recently become increasingly popular with package tourists." Oman offers an impressive variety of experiences, from luxurious beach resorts to adventurous activities in the dramatic mountain landscapes. The Salalah region is particularly popular with tourists. Schauinsland-Reisen already has several renowned hotels on offer here, including the Juweira Boutique Hotel**** and the Salalah Rotana Resort*****, both of which are located directly on the picturesque coast. For travelers who want to explore the capital Muscat, the Shangri-La Hotel is recommended, which consists of three 5-star resorts: Al Bandar, Al Waha and Al Husn. These hotels offer a high level of luxury and

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SpiceJet oversubscribes capital increase of $358 million

SpiceJet has already oversubscribed its recently launched capital raise of INR 30 billion (USD 358,5 million). The strong demand from investors signals great confidence in the future of the Indian airline, which is looking to capitalize on the growing aviation industry in India. According to reports in the Times of India, the qualified institutional placement was significantly oversubscribed on the first day. The initial investors include Tata Mutual Fund, Bandhan Bank, Discovery Fund and several family-owned companies, among others. The preliminary placement document (PPD), released on September 16, states that the floor price of the common shares is INR 64,79 (USD 0,77). SpiceJet plans to use the funds from the raise for various purposes, including clearing statutory dues of INR 4,27 billion (USD 51 million) and lifting groundings on grounded aircraft. The company has not made statutory payments between April 2020 and August 2024, citing its financial position. The proposed capital raise is also expected to help increase fleet size and improve profitability. The company's shares are expected to be listed after approval from the Bombay Stock Exchange. A discount of up to 5% on the reserve price could be offered to investors subscribing to special shares.

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Air Belgium under judicial supervision: A new path to recovery

Under a new law, Air Belgium has moved from a judicial reorganization to judicial supervision, known as a "transfer of a company under judicial supervision." This means the creation of a new company without debts, as well as the liquidation of the old company. This decision was confirmed by the Commercial Court of Walloon Brabant on September 19, 2024. The new procedure allows Air Belgium to transfer its assets and activities to a new company in order to maximize the proceeds for creditors. A court-appointed administrator will be entrusted with this task and the company will have four months to find potential buyers for the new company. The company's management aims to complete the transaction within the next six weeks. The background to these measures is the ongoing financial crisis that has accompanied Air Belgium since its creation in 2016. The airline has accumulated over 119 million euros in losses, partly due to the Covid-19 pandemic, rising fuel prices and intense competition. In 2022, as the company slowly recovered from the pandemic, the war in Ukraine negatively affected fuel prices and led to further financial challenges. This forced the company to cancel unprofitable routes and focus on more profitable destinations such as South Africa and Mauritius. Challenges in raising capital As part of the new process, a non-binding takeover offer was presented by a European investor who wants to acquire all shares in the airline. Previously, an offer from private investors had failed because it did not reach the 18 million euros needed for the restructuring. The current status of the negotiations suggests that the management is under

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SAS launches new flight connection between Turku and Copenhagen

From March 2025, the Scandinavian airline SAS will introduce a new flight route between Turku in Finland and Copenhagen in Denmark. The route will initially be served four days a week, with an additional flight day being added from May 2025. During the summer months between midsummer and early August, the route will be temporarily paused. The flights will be operated with an Embraer E195, which has space for 122 passengers. This new connection improves Turku's international accessibility and offers additional connections to Europe and the USA via Copenhagen. SAS also plans to expand the existing connections between Turku and Stockholm Arlanda and Helsinki and Copenhagen in summer 2025.

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