Aviation Industry Updates: October 18, 2022

GoJet Announces New 2-Year Flow To United

• Launch of Direct-Entry Captain Path to United Airlines – Qualified Pilots to Flow to UNITED AIRLINES after 24 Months of Service

• Today GoJet Airlines announced the launch of a Direct-Entry Captain Path to United Airlines that will offer highly qualified Direct Entry Captain candidates the best overall package in terms of compensation and career opportunity.

• Participants in this program will have a direct flow to United’s flight deck in two years. For a limited time, GoJet is recruiting Captain-qualified individuals that have a minimum of 1000 hours of Part 121 or Part 135 flying time. In addition, GoJet is honoring this experience with longevity pay matching at a 1:1 rate up to 18 years.

• GoJet is ready to help pilots with this level of skill who are looking to advance their career goals and move to a legacy carrier. Offering immediate GoJet class availability with no training delays.

• "We are looking for Captain qualified pilots on a path of professional growth into a career with United Airlines. This program provides an advantageous opportunity to achieve their goal in just two years,” said Rick Leach, President and CEO GoJet Airlines. Pilots are to apply to the GoJet Direct Entry Captain role via AirlineApps.com. Applications must be submitted by December 31, 2022, to be considered for this exciting program.

GoJet

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Economic Worries Loom Over U.S. Airline Earnings

KEY POINTS:

• U.S. carriers including American Airlines Group Inc (AAL.O) and United Airlines Holdings Inc (UAL.O) are enjoying the strongest consumer demand in three years, but analysts and investors question how soon the good times might end as the growing risk of economic recession sparks worries about travel spending.

• As earnings season starts on Thursday, investors are looking to find out how carriers plan to offset higher costs and protect profit once consumer demand softens.

• The airline industry, which is facing higher fuel and wage bills, has been relying on robust demand to mitigate inflationary pressure with higher fares.

• American Airlines on Tuesday forecast stronger profit in the third quarter as it expects higher ticket prices to offset a run-up in operating costs. The Texas-based carrier, however, did not provide any commentary on the booking trends.

• Airline fares were up 33% year-on-year in August and have been one of the biggest contributors to a jump in U.S. consumer prices.

• Daniel McKenzie, an analyst at Seaport Research Partners, last month cut 2023 earnings estimates for major carriers after the Fed delivered a third straight 75 basis-point interest rate hike.

• Carriers have been playing down demand concerns, saying there has been no slowdown in post-summer travel bookings.

• Travel demand tends to cool after Labor Day, which marks the unofficial end of the U.S. summer season. But airlines say travel bookings, thus far, have been resilient.

Reuters

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Delta Air Lines CEO Proclaims Travel Is ‘Countercyclical’

KEY POINTS:

• People have more than two years of that pandemic cliche, “pent-up demand,” to get out of their system. That’s driving continued robust travel demand at Delta Air Lines, which sees no slowdown even as the economic outlook sours on both sides of the Atlantic.

• “While we are mindful of macroeconomic headwinds, the travel industry is experiencing a countercyclical recovery,” Delta CEO Ed Bastian said during the carrier’s third quarter-earnings call Thursday, always the first of the major U.S. airlines to report. “Global demand is continuing to ramp as consumers shift spend to experiences, businesses return to travel and international markets continue to reopen.”

• Bastian added that, from Delta’s view, travel demand did not “come close to being quenched” during what was a busy, and often chaotic, summer.

• Delta, for its part, continues to see strong demand both in the U.S. domestic market, and across the Atlantic for the fall, said President Glen Hauenstein. This is driven, in part, from high levels of leisure demand continuing after Labor Day when the segment normally slows down, and from improving corporate demand. Corporate bookings at Delta recovered to roughly 80 percent of 2019 levels at the end of September, and are expected to rise to the “low to mid-80s” during the fourth quarter.

• And the airline continues to see more blended trips, or those that include both leisure and work components, and is adjusting its flight schedule accordingly. Even Hauenstein admitted to changing his travel patterns since the pandemic: “I went to Paris last week for meetings, and I spent the weekend for leisure. Before I probably would have just come back.”

• “I can’t imagine as we get to spring and summer next year that we don’t see robust demand” for international travel, Hauenstein said. Delta plans to fly 8 percent more seats across the Atlantic in summer 2023 than it did this year.

Skift

DOJ Asks: Does American Need New York Slots Because US Airways Traded Some Away?

KEY POINTS:

• In the 2011 deal, Delta acquired 132 slot pairs at LaGuardia from US Airways and US Airways acquired 42 slot pairs at Washington National. Additionally, the airlines divested 16 slot pairs at LGA and eight slot pairs at DCA. In 2013, US Airways merged with American.

• On Tuesday, Justice Department antitrust attorney Dick Doidge questioned American Chairman Doug Parker about the transaction, which is relevant because American has argued that it has too few slots at LaGuardia and New York Kennedy. The alliance is primarily focused on an operating agreement at JFK, but as part of the alliance JetBlue gets to use American slots at LGA.

• “American has more slots at DCA than all other airlines combined,” Doidge told Parker. Additionally, he said, “American has a high margin at DCA.”

• Parker, who in 2011 was CEO of US Airways, said, “The DCA hub for US Airways wasn’t large enough to be a real hub. By doing this transaction, as painful as it was, the result of this was Delta was able to take their LGA operation, and allow them to be more efficient, and we could use the DCA slots much more efficiently.

Forbes

We Just Got A Pilot With 2200 Hours Hired At A Legacy

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Hiring Events

RTAG Convention | FTW | Oct 22-23

American Meet-the-Chiefs | JFK | Nov 8-9

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