The aerospace sector faced a troubled week with strikes forcing flight cancellations across two continents. While Mexico is seeing a decreasing rate of US visitors, one of the country’s airport groups saw significant growth in overall passenger traffic. The country also moves forward on opening its jet fuel market.
This news, however, is eclipsed by the tragic crash of a military airplane in Algeria, which cost 257 lives.
Don’t miss our interview of the week with the General Manager of Copa Airlines Mexico for an overview of the company’s strategy for the country.
Ready to take off? Here are this week’s headlines:
Rate of US visitors to Mexico slows down. While the rate of visitors by air grew by 7 percent during the first two months of 2018, this marks the lowest rise in visitors since 2013.
Santander increased the target price of Grupo Aeroportuario del Pacífico’s (GAP) stock by 23.30 percent thanks to the significant passenger growth the group observed due to Easter holidays.
The Ministry of Communications and Transportation vows to change Mexican regulation concerning the sale of jet fuel to open the market to other players besides ASA. The latter is currently Mexico’s only distributor of jet fuel.
Algeria mourns the death of 257 people who died after the crash of a military transport plane, in what is now the worst air disaster for the country. The airplane crashed on April 11 at around 8am, 15 miles outside the capital, Algiers, carrying civilians and soldiers. The causes of the crash are being investigated.
LATAM Airline’s union called for a strike, which caused the cancellation or rescheduling of 600 of the airline’s flights.
Lufthansa was also forced to cancel 800 flights due to strikes in Germany, affecting up to 90,000 passengers. Lufthansa’s employees are not involved in the German public-sector workers’ strike.
Boeing and Rolls-Royce back Reaction Engines with US$37.5 billion for the test of an air-breathing, combined-cycle rocket engine.
British Airways considers bidding for Norwegian Airlines in response to the latter’s entrance into the long-haul market.