US’ Las Vegas McCarran International Airport reported (28-Oct-2013) a 1.2% year-on-year increase in passenger numbers to 3.4 million in Sep-2013. The airport also reported the following top five scheduled airlines serving the airport:
Two of top five airlines at Las Vegas McCarran Airport report traffic decline in Sep-2013
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Delta Air Lines & Korean Air announce joint venture in shadow of China Southern's SkyTeam defection
It is surely no coincidence that Delta Air Lines and Korean Air announce their joint venture a mere two days after their SkyTeam partner China Southern Airlines – the largest in Asia, second largest in SkyTeam and sixth largest in the world – agrees to an investment and broad strategic partnership from Delta's rival, American Airlines, a member of oneworld.
Delta and Korean Air have long flagged their JV and the 29-Mar-2017 announcement is only a Memorandum of Understanding. The JV will have to be strong, with a high level of integration and trust, since it will involve profit sharing and not just revenue sharing.
Yet aside from that Delta and Korean have offered no new details, or even a time frame. Their announcement merely formalises what they have essentially been saying for months.
If it is to be leverage against China Southern-American, it should be noted that the two partnerships will be very different in the medium term and will not create significant competition with each other. The Delta-Korean JV comes with unfortunate timing for Korean Air, which continues to face slackening investor confidence and severe pressure in the Korea-China market.
jetBlue Airways reluctant to cut capacity despite uncertain revenue performance outlook
jetBlue Airways had a tough start to 2017, projecting a unit revenue decline of 8% to 9% for the first month of the year. The airline’s Jan-2017 unit revenue performance sets the stage for an overall negative performance in 1Q2017, and the company is offering little visibility into its outlook for 2Q2017.
The airline has outlined various factors for the surprising unit revenue decline for Jan-2017, including timing of YE2016 holidays, its new service to Cuba, and additional service from Newark Liberty International. After the less than stellar results for Jan-2017, investors were looking for jetBlue to offer remedies for the weak performance, but for the moment the company is keeping its 2017 capacity projections intact. The back and forth is a classic example of markets demanding immediate action when airlines aim to take a more measured approach in adjusting their strategies.
Investors are already concerned about the overall financial performance of US airlines in 2017 as unit costs are rising faster than unit revenues. jetBlue is facing its own cost inflation during 2017, and its rocky start will result in its revenue performance being closely scrutinised, with the potential calls for capacity cuts growing louder.