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Southwest Airlines announced (10-Sep-2024) the following changes to its executive team under the next phase of its "comprehensive board refreshment":

• Executive chairman Gary Kelly will retire immediately after the annual meeting in spring 2025;
• Retirement of six directors, effective Nov-2024:
  • David Biegler (compensation committee chairman);
  • Veronica Biggins (nominating and corporate governance committee chair);
  • Senator Roy Blunt;
  • Dr William Cunningham (lead director);
  • Dr Thomas Gilligan (audit committee chairman);
  • Jill Soltau;
• Elimination of the executive committee structure and creation of a new finance committee focused on assisting the board with oversight of financial, operational and business plans and strategies, as well as major transactions, capital structure and capital allocation priorities.

The Southwest board plans to appoint four new independent directors, potentially including candidates proposed by activist investor Elliott Investment Management in the near term. The board also reaffirmed its unanimous support for CEO Bob Jordan as it continues constructive engagement toward a collaborative resolution with Elliott. [more - original PR]

Airlines for Europe (A4E) stated (09-Sep-2024) it is critical that the European Commission, European Parliament and member states implement Mario Draghi's recommendations in his report 'The future of European competitiveness', "without delay". A4E underlined its support for the Draghi recommendations for Europe's aviation industry, which include:

• Supporting the green transition and stimulating the supply of low carbon fuels;
• Unlocking investment in decarbonising aviation;
• Reforming Europe's inefficient airspace;
• Addressing so-called asymmetric decarbonisation and business leakage.

The report confirms that air transport is hard to decarbonise and has a critical need for low carbon fuels, recognising that the cost of energy is a significant driver of the "competitiveness gap" emerging between Europe and the rest of the world. A4E MD Ourania Georgoutsakou commented: "The next Commission must be bold and implement policies that will address the aviation issues in the Draghi report: support low carbon fuels, tackle business leakage and complete our single market". Ms Georgoutsakou added: "European policymakers and national governments must embrace the report recommendations and do whatever it takes to level up Europe's prosperity for generations to come". [more - original PR]

Air Kerala confirmed (10-Sep-2024) it is on track to commence operations by Mar-2025. As previously reported by CAPA, the start up LCC received a no objection certificate from India's Ministry of Civil Aviation in Jul-2024 and appointed Harish Kutty as CEO in Sep-2024. [more - original PR]

Cape Verde's Ministry of Tourism and Transport, via its official Facebook account, announced (08-Sep-2024) the creation of the domestic carrier Linhas Aéreas de Cabo Verde. The airline will operate domestic inter-island passenger and cargo services.

Azul announced (09-Sep-2024) the following updated outlook for 2024:

• Capacity (ASKs): +7% year-on-year. The adjustment in capacity growth is mainly due to:
  • Reduction in domestic capacity due to closure of Porto Alegre Salgado Filho Airport;
  • Temporary reduction in international capacity during 1H2024;
  • Manufacturers' delays in new aircraft deliveries;
• EBITDA: Above BRL6 billion (USD1.07 billion), lower than the previous projection, mainly due to reduction in capacity growth;
• Revenue: BRL20 billion (USD3.58 billion), driven by the healthy demand environment, robust ancillary revenues and growth of business units. [more - original PR]

GMR Airports entered (09-Sep-2024) a share purchase agreement (SPA) with Fraport for the acquisition of Fraport's 10% equity stake in Delhi International Airport Ltd (DIAL). The acquisition will proceed for a negotiated aggregated consideration of USD126 million and will increase GMR's stake in DIAL from 64% to 74%. The transaction is expected to be concluded within 180 days of the execution of the SPA and is subject to approval from Airports Authority of India, which owns the remaining 26% stake in DIAL, as well as GMR's shareholders. [more - original PR - GMR Airports] [more - original PR - Fraport]