CAPA Announces Global Aviation Awards for Excellence winners for 2024

CAPA - Centre for Aviation awards IndiGo Airlines as its Airline of the Year, recognising the airline's role in growing and transforming commercial aviation in India, its strategic evolution in pursuing greater international connectivity, and its demonstrated excellence when it comes to enhancing the sustainability of its operations.

The largest airline in the world's most populated country, the growth of IndiGo can only be described as extraordinary. Founded on principles of affordable fares, strong on-time performance and a hassle-free travel experience, the airline has been a transformative force for domestic aviation in India.

IndiGo has established India's largest network and brought affordable air travel where it wasn't previously available, handling more than 100 million passengers in 2023.

Under the leadership of its new CEO Pieter Elbers, IndiGo itself has undertaken a transformation in terms of the way it operates, both inside and out.

IndiGo is also on the cusp of a bold drive into the long-haul international space. In doing so, it is stepping up in scope, complexity and ambition in order to bring the IndiGo mission to the rest of the world.

Pieter Elbers, CEO of IndiGo Airlines said: "On behalf of all my colleagues at IndiGo, it's a real honour to receive CAPA's prestigious 'Airline of the Year' award. IndiGo's journey since inception, just 18 years ago, has been nothing short of incredible. To receive this award today, amidst some of world's biggest and brightest airlines, is truly encouraging and a source of pride.

IndiGo's commitment to our purpose of 'Giving wings to the nation' offering air travel to annually 100+ million customers, of which many first-time flyers remains at the core of our strategy. Deeply rooted in India we are expanding our wings now also globally."

CAPA - Centre for Aviation Head of Research Simon Elsegood said: "It is CAPA's honour to announce IndiGo Airlines as the CAPA Airline of the Year. The impact of IndiGo's bringing accessible air travel to millions cannot be understated. With ambitions to lead Indian aviation and extensive plans already in place, the future for the airline could hardly be brighter".

CAPA - Centre for Aviation awards Sun Country Airlines as its Low Cost Airline of the Year, recognising the company's strategic agility in the world's most competitive domestic market, along with its relentless focus on costs and consistent financial performance.

Sun Country Airlines exhibits a strategic diversity that few airlines in the world can match. Relaunched in 2018 as an ultra-low cost airline, the airline has adopted a business model that incorporates not just scheduled passenger services, but also charter and cargo operations.

This strategic depth allows the airline to optimise flight operations, share resources and generate across-the-business benefits that reduce seasonality, improve revenue generation and enhance overall financial performance.

While other ULCCs have faltered, Sun Country's unique business model has meant that the airline has remained strong and profitable.

"As we close out a successful year, Sun Country Airlines is extremely honored to be recognized as CAPA's LCC of the Year for 2024," said Dave Davis, President and Chief Financial Officer, Sun Country Airlines. "Our approach to service, which leverages the agility of our unique business model, allows us to best meet the needs of cargo, charter, and leisure customers alike while ensuring affordable fares. With this, we continue our commitment to growing when and where our customers need us most."

CAPA - Centre for Aviation Senior Analyst Lori Ranson said: Sun Country's unique and diversified business model has proven resilient during the pandemic and beyond. The company produced a positive EBITDAR in 2020, and recent expansion of its cargo operating agreement with Amazon will produce upside in the coming years. The carrier's model allows it to adapt to changing market trends in the US, and with a strong balance sheet and limited capital commitments going forward, Sun Country is well positioned among US ULCCs for margin upside.

CAPA - Centre for Aviation awards Aegean Airlines as its Regional Airline of the Year, recognising the airline's healthy financial results, traffic growth, consistent service and performance in the regional market.

Celebrating its 25^th anniversary in 2024, Aegean Airlines has established itself as Greece's leading airline and a major regional airline in the busy European market.

With a network covering Greece and the rest of Europe, along with the Middle East, North Africa and Central Asia, Aegean Airlines distinguishes itself with competitive pricing, consistent service quality and excellence in its onboard product.

Aegean Airlines has shown excellent financial and passenger traffic performance in recent years, building its operations past pre-pandemic peak.

The airline continues to build its strength even in the face of increasing encroachment from LCCs and challenging economic circumstances. With new and longer-ranged aircraft due to arrive in the next few years, Aegean Airlines will be spreading its wings further and expanding into new markets in the Middle East, Africa, and potentially the Asia Pacific.

AEGEAN, CEO, Dimitris Gerogiannis said: "Being named CAPA's Regional Airline of the Year 2024 is a real honor and an acknowledgement to the dedication of our entire AEGEAN team. A strong team of highly committed and passionate people that for more than 25 years are delivering high-quality travel experience and hospitality. Thank you, CAPA, for this prestigious award. An even greater thank you to all our loyal customers and my colleagues for making this success possible. We look forward to welcoming you all to Athens on May 8-9, 2025, for the Airline Leader Summit to discuss about the challenges and future of aviation!"

CAPA Chief Financial Analyst Jonathan Wober said: In 2024 Aegean Airlines marked its 25th anniversary, following two successive years of record revenue and profit for the Aegean Airlines Group in 2022 and 2023. In spite of softening demand, it maintained healthy profitability in 1H2024. The group has sustained steady and impressive passenger growth of 9% p/a over 20 years. It remains number one by passengers and seats in Greece, in the face of fierce competition from low-cost airlines, thanks to very attractive fares and a strong product.

CAPA - Centre for Aviation awards LATAM Airlines as its Turnaround of the Year for the airline's rapid recovery in fortunes, its strategic flexibility in the face of difficult local conditions, its financial health, and strong positioning for future growth.

The leading airline group in South America in terms of passenger traffic, LATAM Airlines Group has executed a remarkable turnaround in the last few years.

Having exited Chapter 11 bankruptcy in late 2022, the airline has seen improvements across financial and operating performance, while also readjusting its fleet and network and strengthening its overall financial position and flexibility.

LATAM Airlines is on an upwards trajectory, with improvements in traffic and expanding network, and recent records in terms of revenue and operating profits.

With inter-regional and intra-regional travel continuing to grow, the airline has positioned itself to be in a position to take full advantage of that growth.

"It is an honor to receive this award, which recognizes all of the effort that LATAM has put into these last few years," said Roberto Alvo, CEO of LATAM Airlines Group. "We've had the full support and dedication of all our employees who are the key piece of what makes LATAM work. We are focused on how we can offer the most connected network in South America, a caring and safe customer experience at the most efficient cost and we are seeing this unique value proposition translate into strong and consistent financial results. It's fulfilling for us to look back on what we have accomplished and to know that we are still preparing to do more."

CAPA - Centre for Aviation Senior Analyst Lori Ranson said: LATAM emerged from Chapter 11 with a much lower cost base, giving it ample opportunities to seize on growth in Latin America's emerging markets and position itself competitively on intercontinental long-haul routes. Almost one in every two passengers in South America now flies with LATAM, and the outlook is promising with recent upwards revisions to key financial metrics for 2024.

CAPA - Centre for Aviation awards Breeze Airways as its Start-Up of the Year for its ability to exploit a niche operating model - an airline excellent in terms of operations, innovation with marketing, and distribution and positive movement towards profitability.

Survival of airline start-ups is hard to come by, and even rarer when an airline is launched into the teeth of the worst crisis for commercial aviation since the start of the jet age.

Yet, the US-based Breeze Airways has not just survived since its launch in May-2021, but has rapidly grown into a niche operator and sorely needed air service provider for smaller US destinations.

Led by its founder CEO David Neeleman, Breeze Airways markets itself as a 'premium leisure, point-to-point' airline, combining a substantial premium seat offering with a model that uses smaller jets to target underserved and smaller markets in the US, along with substantial charter operations.

This has allowed Breeze to avoid competition from larger narrowbody operators, while also helping to build back some of the regional air service connectivity lost during the pandemic.

The airline's domestic network now stretches to more than 65 destinations, served with a fleet of more than 40 aircraft. Breeze has ambitions beyond this, eyeing international markets and expanding its fleet as fast as new deliveries will allow.

"Breeze's unique business model is making leisure air travel more accessible and enjoyable to millions of people in underserved markets by giving them the ability to create the experience they want to have," said David Neeleman, Founder and CEO of Breeze Airways. "We are grateful to CAPA - Centre for Aviation for their unanimous recognition of the hard work and ingenuity of our Team Members to set Breeze apart in the industry and lay a foundation for impressive growth in the future."

CAPA - Centre for Aviation Senior Analyst Lori Ranson said: Launched during the pandemic, Breeze recorded a profit in both March and April and is broadening its revenue base even further with initiatives like a recently launched co-branded credit card. The company's product segmentation plays to a premium leisure trend that shows no signs of weakening, and Breeze plans to expand on its unique network strategy by launching international service in the near future.

CAPA - Centre for Aviation awards Juan Carlos Zuazua, CEO of Viva Aerobus, as its CEO of the Year. Mr Zuazua has led Viva Aerobus with passion and energy, helming the airline since 2010 as it has grown rapidly in both domestic and international markets.

A member of the founding executive team at Viva Aerobus, Juan Carlos Zuazua has helped to lead the LCC as it has grown into Mexico's second largest airline.

Mr Zuazua took over leadership of the airline in 2010, at age 29, and has since focused on maintaining an ultra-low cost operating model, as well as staying focused on principles of operational simplicity, environmental sustainability, and an affordable and positive passenger experience.

A proponent of culture influencing business, Mr Zuazua has also shown commitment to an inclusive approach that recognizes that an airline's performance is about more than just financial and traffic metrics, and that fairness is an important metric when it comes to worker compensation.

Viva Aerobus has also improved its business through showing that it cares not only about efficiency measures, but also about the environment and the professional and personal growth of its employees.

Mr Zuazua's efforts as CEO were previously recognised by CAPA in 2022, when Viva Aerobus was awarded CAPA's 'LCC of the Year' for the airline's recovery from COVID-19, and its ability to innovate and develop new partnerships to support its plans for development.

Juan Carlos Zuazua said: "I'm incredibly grateful and honored to receive this award, which belongs to every member of our amazing team, our Gente Viva. As I accept this recognition, I am reminded of the immense responsibility we carry as leaders: to inspire the next generation, to innovate with purpose, and to create a legacy that transcends profits to make a positive impact on the world. Together, and with our team's unwavering commitment to innovation and excellence, we will continue to elevate the aviation industry and bring the world closer, with affordable & sustainable air travel."

CAPA Centre for Aviation Head of Research Simon Elsegood said: Juan Carlos Zuazua shows the pioneering spirit and innovation that has helped turn Viva Aerobus into a leading carrier in Latin America and one of the best run airlines in the world. His leadership shines not just in a strategic sense, but also in the dedication shown to his workforce and the wider responsibilities that leading an airline brings with it.

CAPA - Centre for Aviation awards KL International Airport as its Large Airport of the Year, acknowledging the airport's exceptional connectivity performance in the face of strong regional competition, its commitment to major infrastructure development, and its flexibility to act as a hub for full service and low cost airlines.

The largest gateway in Malaysia, KL International Airport was also the most connected airport in the Asia Pacific and the second most connected airport in the world for 2024, according to CAPA - Centre for Aviation's partner OAG.

The airport has managed this while playing home to one of the world's busiest air routes (Kuala Lumpur-Singapore), and balancing its operations between low cost and full service airlines.

The airport is undergoing a substantial refresh, updating its digital backbone to enable new passenger service efficiencies, and to update security and safety, as well as improving employee productivity. New baggage handling and check-in counters are being introduced, as well as updates to the aerotrain and new lounges and amenities.

Beyond this, a major infrastructure development plan is in the works and due to start in 2026.

This will nearly double capacity to around 140 million passengers p/a, ensuring that KL International Airport will remain a key global hub.

"We are deeply honoured that KL International Airport has been voted as CAPA's Large Airport of the Year 2024. This recognition underscores the dedication of our entire team to driving excellence, innovation, and customer experience across our operations. Over the past year, we have focused on major enhancements, such as our ongoing Aerotrain replacement project and upgrades to the Baggage Handling System, alongside initiatives like the Smile and Greet Campaign. In a rapidly changing industry, we remain committed to resilience and adaptability, ensuring an exceptional journey for our passengers. We thank CAPA for this acknowledgement and extend our gratitude to everyone who has supported us in raising the bar for airport service and operations."

CAPA - Centre for Aviation Chief Airport Analyst David Bently said: Despite intense competition from regional hubs, Kuala Lumpur International Airport has established itself as a mega hub, the second most connected airport in the world in Sep-2024 and number one in the Asia Pacific. The airport has gained an ideal balance between full service and low-cost capacity, playing home to five airline alliances.

CAPA - Centre for Aviation awards Puerto Rico San Juan Luis Muñoz Marin as its Medium Airport of the Year, recognising the airport's recent success in attracting new airlines, its rapid passenger growth over recent years, and its status as one of the few US airports that have been wholly privatised under a long-term lease arrangement.

Puerto Rico San Juan Luis Muñoz Marin International Airport is the largest airport in the Commonwealth of Puerto Rico, and one of the key hubs connecting the Caribbean with the rest of the Americas.

Owned by the Puerto Rico Ports Authority and managed by Aerostar Airport Holdings, the airport has experienced substantial investment and development over the last decade, which has improved facilities, upgraded its infrastructure, and enhanced the customer experience.

Puerto Rico San Juan has experienced a major expansion in the post-pandemic period, with capacity for 2024 expected to reach an all-time high.

This builds on very strong traffic growth in recent years, where the airport has built more connections into North America and the Eastern Caribbean, including the recent decision by Frontier Airlines to establish a base in San Juan.

"We are deeply honored to receive the Medium Airport of the Year award from the Centre for Aviation. This recognition is a testament to the hard work and dedication of our team at Puerto Rico San Juan Luis Muñoz Marin International Airport. Our recent success in attracting new airlines and the remarkable passenger growth we've experienced reflect our commitment to enhancing connectivity and providing an exceptional travel experience.

"As the largest airport in the Commonwealth of Puerto Rico and a key hub between the Caribbean and the Americas, we are proud of our strides towards modernization and improvement over the last decade. The substantial investments made under the management of Aerostar Airport Holdings have transformed our facilities and infrastructure, allowing us to better serve our passengers.

"Looking ahead, we are excited about the future. With our capacity expected to reach an all-time high in 2024 and the expansion of our connections, including the recent establishment of Frontier Airlines' base in San Juan, we are poised to continue our growth and play a vital role in the region's aviation landscape. This award inspires us to keep pushing boundaries and providing the best possible service to our travelers."

CAPA - Centre for Aviation Chief Airport Analyst David Bently said: Puerto Rico San Juan Luis Munoz Marin International Airport remains the only successful privatisation of a whole airport by lease in the US since the procedure began in 1996. Development has resulted in a modern facility with vastly improved passenger facilities and acts as a marker to other airports as to what can be achieved under privatization. The airport is on track to finish 2024 with capacity at an all-time high.

CAPA - Centre for Aviation awards Edmonton International Airport as its Regional Airport of the Year for the airport's collaborative and innovative approach to developing itself and diversifying its business.

Canada's fifth largest airport by traffic, Edmonton International Airport has transformed and diversified its business, turning itself into a hotbed of activity around cargo, and playing a leading role in future-looking areas - such as aviation sustainability and drone development.

Edmonton is positioning itself as a cargo and logistics hub for the region, with two major expansions to its cargo facilities under way. These are intended to position the airport as an e-commerce gateway for flights arriving from the Asia Pacific, and then dispersing across North America.

Apart from this, Edmonton recently completed the second phase of an innovative commercial cargo drone project. The airport is also expanding its partnerships to innovate around sustainability, with projects covering everything from tree planting and solar power to intermodal transport and green shipping technologies.

Myron Keehn, President and CEO, Edmonton International Airport (YEG) said: "Edmonton International Airport is honoured to accept this award as we continue to work with our airline partners on more flights to more places. Thank you to our airline, industry and community partners for their support and commitment to the Edmonton Metropolitan Region. YEG's air service and commercial development efforts are built on a foundation of collaborative partnerships and we share this award with our YEG airline and airport community. Thank you to CAPA for this recognition and to our YEG community for its commitment to growth and innovation."

CAPA - Centre for Aviation Head of Research Simon Elsegood said: Edmonton International Airport has distinguished itself with its forward-looking approach and broad commitment to improving and diversifying its business into new areas. The airport's vision is also apparent with its approach to sustainability, where it is not only concerned about its own impacts but actively looking to contribute to a wider reduction in aviation emissions.

CAPA - Centre for Aviation announces the induction of Air Lease Corp, Executive Chairman, Steven Udvar-Házy into the CAPA Hall of Fame, in recognition of his pioneering work the development of the aircraft leasing industry, decades of leadership in the sector and ongoing philanthropy for aviation causes. Mr Udvar-Házy passion, aviation knowledge and vision are peerless in the industry.

Air Lease Corp, Executive Chairman, Steven Udvar-Házy has been passionate about aviation from an early age. Having earned his pilots license at just 17 and completed his first aircraft sale at only 21, he went on to co-found one of the world's first aircraft leasing companies, International Lease Finance Corporation (ILFC), in 1973.

Since then, Mr Udvar-Házy has spent the last five decades pursuing a vision of making air travel more accessible by helping airlines afford the most modern and efficient aircraft available for their fleets. In the ensuing period, leasing has become a vital element of modern commercial aviation. Leasing companies now own more than half of the world's commercial airline fleet, generating revenue of more than USD150 billion per year.

Mr Udvar-Házy led ILFC as CEO and chairman until 2010 and then departed to co-found Air Lease Corporation. The US lessor has grown rapidly, with a fleet of nearly 500 aircraft on its books, nearly 70 more under management and more than 300 new aircraft on order.

Outside of his business activities, Mr Udvar-Házy has been a champion of philanthropy in the aviation sector. This includes major donations to Stanford University, Embry-Riddle Aeronautical University, the Smithsonian Institution's National Air and Space Museum, Children's Hospital Los Angeles and the California Science Center, among others.

CAPA - Centre for Aviation Head of Research Simon Elsegood said: Not many people can be said to have helped to invent an entire industry and have fundamentally transformed the business of aviation. For an incredible career spanning better than 50 years, as well as his contributions to aviation causes, CAPA is pleased to announce the induction of Steven Udvar-Hazy as a member of the CAPA Aviation Hall of Fame.

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