Iran Air CEO Farhad Parvaresh has condemned the recent sanctions imposed by the US against Iran’s state-owned flag carrier (AFP/Presstv.ir, 26-Jun-2011). The CEO stated the airline is committed to international aviation law and is a member of IATA. The US government prohibited US entities from any transactions with the Tidewater Middle East Company, which operates seven port facilities in Iran, and Iran Air, using the reasoning that the two major components of the Iranian transport infrastructure are being used to help the country develop nuclear weapons.
Iran Air condemns US sanctions
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Norwegian Air: 10 new North Atlantic routes enabled by new narrowbody aircraft and price stimulation
Norwegian's long anticipated new trans Atlantic routes, to be launched in summer 2017, will add five airports in the UK and Ireland and three in the US to its existing long haul network. Norwegian already operates to eight US primary airports from London Gatwick. By using new narrowbody technology Norwegian is opening trans Atlantic travel to smaller cities that could not support widebody service.
The new trans Atlantic routes, the first to be operated by its Irish subsidiary NAI after receiving US rights late in 2016, will deploy new Boeing 737-8 MAX aircraft with a longer range than existing narrowbodies, and Norwegian is the European launch customer of the type.
In total there will be 10 new routes, comprising 38 weekly flights from Edinburgh, Belfast International, Cork, Shannon and Dublin serving three secondary airports on the US east coast. These are Stewart International (SWF), Providence (PVD) and Hartford Bradley International (BDL). These US airports are small and relatively unknown in Europe, and Norwegian will have to rely on price stimulation more than it has done on existing long haul routes. Nevertheless, Norwegian is once more leading the market with this innovation.
Norwegian Air: longhaul-led capacity acceleration & rising fuel price may expose margin fragility
Norwegian's long haul operation has become its main growth engine. Although long haul still accounts for fewer ASKs than its short haul network, it will contribute more than half of Norwegian's incremental ASKs in 2017. Since the airline's long haul launch in 2013, Norwegian's widebody flights have enjoyed higher load factors than their short haul counterparts, and the company has broken new ground with its multi base long haul strategy outside its home market.
After Norwegian entered long haul it met a sudden drop in profitability, suffering losses in 2014. Its results have recovered since then, leading to its highest ever net profit and operating profit in absolute terms in 2016. At first sight this might indicate that Norwegian's long haul has healed its growing pains, and is maturing into more sustainable profitability.
However, there is evidence that Norwegian's profit recovery may have had more to do with lower fuel prices, helped also by tighter capacity growth in 2015. Moreover, its 2016 operating margin was below its own historic peak. With Norwegian facing rising fuel prices and accelerating its capacity growth in 2017, the robustness of its margin recovery will be tested this year.