Airline, Organisations & Operators,

In April 2022, a subsidiary of Eve Holding, Inc. (“Eve” or the “Company”) and Falcon Aviation Services (“Falcon”), a leading Business Aviation Services operator in the Middle East and Africa region, signed a Letter of Intent (LoI) for up to 35 electric vertical take-off and landing (“eVTOL”) aircraft. With deliveries expected to start in 2026, the partnership will introduce the first eVTOL touristic flights from the Atlantis, The Palm in Dubai. Eve and Falcon will work together with the local stakeholders and authorities to support developing the Urban Air Mobility (“UAM”) ecosystem for the United Arab Emirates (“UAE”).
Captain Ramandeep Oberoi, Chief Operating Officer of Falcon, said: “We are ecstatic to partner with Eve and be the first operator of eVTOL in Dubai & the MENA region. The launch of this concept fully aligns with the Smart Dubai vision and will contribute to positioning Dubai as a global leader in sustainable Urban Air Mobility transportation. Falcon is actively engaged in Urban Air Mobility emergence and committed to delivering an effective and sustainable new urban transportation mode and providing the community with better and faster solutions. We are particularly proud to take a new step in the UAE, in a project that will be revolutionary for sustainable urban mobility.”
“We are thrilled about partnering with Falcon and having the immense opportunity to enable the future urban mobility in the United Arab Emirates and launch eVTOL flights in Dubai. This is a massive challenge for both companies, which will help to position Dubai as a leader in the urban air mobility market. Eve’s global experience, which spans different regions across the globe, will surely benefit the achievement of this project,” said Andre Stein, co-CEO of Eve.
This collaboration reinforces Eve’s commitment and efforts to safely enable the global UAM ecosystem by providing an agnostic and holistic portfolio of solutions.

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The International Air Transport Association (IATA) reported that the IATA Ground Operations Manual (IGOM) Portal and IATA’s Safety Audit for Ground Operations (ISAGO) are successfully driving greater standardisation of ground handling processes around the world. This is particularly important for the rapid build-up of operations as COVID-19 restrictions are lifted.
“IGOM and ISAGO complement each other in driving much-needed harmonisation across the ground handling sector. And the boost in participation in both programs as the industry ramps up its operations is good news for both safety and efficiency. The aim of both is to reduce risk, avoid ground damage and enable standardised, sustainable operations,” said Monika Mejstrikova, IATA’s Director of Ground Operations.
IGOM Portal
Since the IGOM Portal’s launch in January, 58 airlines and 11 ground service providers (GSPs) have subscribed to its services.
The portal enables airlines and ground handlers to interface with the IATA Ground Operations Manual. IGOM is the global industry standard for ground handling worldwide. The portal is an online platform where, with IGOM as the primary reference, airlines and GSPs can exchange information, including any variations, on their ground handling requirements.ADVERTISEMENT“The goal is global adoption of ground handling standards. The efficiency and safety gains from global standardisation have been proven throughout aviation’s development. The IGOM portal is helping achieve this by making it easier for airlines and GSPs to manage and monitor the implementation of standards and to understand variances. With 69 organisations already using the portal the drive for greater standardisation is getting a boost,” said Mejstrikova.
The IGOM Portal is available free of charge to all airlines and GSPs. To subscribe, access the IGOM Portal.
ISAGOSince March 2022, 28 airlines have joined ISAGO, thereby benefiting from 500 audit reports available to complement their oversight activities.
ISAGO provides an independent assessment of all aspects of managing and providing safe ground handling services, based on the IGOM standards.
“The increase in ISAGO participation reflects the benefits of verified compliance with global standards. With more governments now including ISAGO in their safety oversight programs, we can expect even more airlines and GSPs to join. In addition to safety improvements, ISAGO participation helps airlines to allocate resources efficiently,” says Mejstrikova.
Given the benefits of standardisation to safety performance, IATA urges governments to recognise ISAGO in their regulatory frameworks for safety oversight. Key among the many positive outcomes is the assurance that Safety Management Systems (SMS) are being implemented by GSPs.

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Dubai South, the largest single-urban master development focusing on aviation, logistics and real estate, has announced that it signed a memorandum of understanding with International Humanitarian City (IHC), the largest humanitarian hub in the world. The agreement entails the implementation of Masary, an e-gate pass system, at IHC to track and trace shipments within a secure network and ensure efficient management of cargo movement.
The agreement was signed during Seamless Middle East by Giuseppe Saba, CEO of IHC, and Abdul Basit AlMarzouqi, Director of the Logistics District at Dubai South, in the presence of senior members from both entities.
Giuseppe Saba, praised the agreement with Dubai South saying that it would take IHC humanitarian-aid shipments to a new level of efficiency and accuracy. He underlined the importance of an e-gate pass system, saying: “Logistics play a crucial part in IHC’s operations, and the e-gate pass system will strengthen the efficiency of IHC community’s emergency response. It will save time on aid shipment processing and, ultimately, save the lives of people in need. We would like to consider the signing of this agreement as a starting point for our partnership with Dubai South. Through this partnership, we hope to further develop any tool or facility that could help IHC and its community achieve the goals identified by His Highness Sheikh Mohammad bin Rashid Al Maktoum when he founded IHC.”
Commenting on the agreement, AbdulBasit AlMarzouqi said: “As a prominent logistics hub, we are committed to facilitating optimal smart operational solutions for our clients to ensure seamless services and the uninterpreted flow of goods. Dubai South’s Logistics District will continue to enhance its portfolio of offerings and address the increasing complexity involved in the movement of goods. As such, it will promote best practices and establish a tech-enabled dynamic ecosystem that would allow our valued clients to thrive in this competitive market.”ADVERTISEMENTDubai South was launched as a Dubai Government project in 2006, representing an emerging 145-square-kilometre, master-planned city based on the happiness of the individual. The city is identified as Dubai’s flagship urban project and is designed to create 500,000 jobs in an integrated economic environment that supports all types of businesses and industries.
IHC, which was founded in 2003 by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, is the only non-profit, independent, humanitarian free-zone authority, hosting a community of around 85 members comprising UN organisations, non-profit and non-governmental organisations and commercial companies. The international humanitarian community in Dubai consists of about 500 people, representing around 80 nationalities, thus positioning itself as the largest humanitarian hub in the world.

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Ramp-up and transformation of SAS continues

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SAS continues the ramp-up and has during the quarter seen the highest number of passengers since the pandemic started. Meanwhile, the work with the necessary transformation plan, SAS FORWARD, continues.
The plan was presented when the Q1 results were released on February 22 and is designed to secure long-term competitiveness. It will allow SAS to effectuate a deleveraging of its balance sheet while substantially improving its liquidity position. In addition to reducing the cost structure and improve efficiencies, SAS is seeking to convert approximately SEK 20 billion of debt and hybrid notes into common equity and will also seek to raise not less than SEK 9.5 billion in new equity capital. The success of the plan depends upon SAS attracting potential new capital from the capital markets and other sources and upon SAS fully achieving the targeted SEK 7.5 billion annual cost reduction by fiscal year 2026.
Earnings before tax ended at negative SEK 1.6 billion for the quarter and the cash balance at the end of the quarter was SEK 8.5 billion.
FEBRUARY 2022–APRIL 2022Revenue: MSEK 7,048 (1,932)
Income before tax (EBT): MSEK -1,557 (-2,331)
Income before tax and items affecting comparability: MSEK -1,613 (-2,331)
Net income for the period: MSEK -1,520 (-2,410)
Earnings per common share: SEK -0.21 (-0.35)
SIGNIFICANT EVENTS DURING THE QUARTERADVERTISEMENTAS presented a comprehensive transformation plan: SAS FORWARD. A successful implementation of the plan will secure long-term competitiveness and improved financial strength
The SEK 3,000 million credit facility secured with the main owners in 2021 was drawn
Erno Hildén was appointed as Executive Vice President and CFO
SIGNIFICANT EVENTS AFTER THE QUARTERThe aftermath of the COVID-19 pandemic has led to most of the airline industry experiencing difficulty in rebuilding operations. This has led to SAS reducing its summer program by 4,000 of a total of 75,000 flights
NOVEMBER 2021–APRIL 2022Revenue: MSEK 12,593 (4,214)
Income before tax (EBT): MSEK -4,154 (-4,246)
Income before tax and items affecting comparability: MSEK -4,234 (-4,258)
Net income for the period: MSEK -3,962 (-4,443)
Earnings per common share: SEK -0.55 (-0.63)
QUARTERLY RESULTS ARE IMPROVED AS A RESULT OF RAMP-UPLooking back at the second quarter, we can see that demand improved as travel restrictions were eased. Passengers flying with SAS increased 28% compared to the previous quarter and the flown load factor reached approximately 67%, up 11 percentage points compared with the earlier quarter. Our capacity was increased by 3% compared to the first quarter. The transformation of SAS has to continue to adapt to the new market conditions in order to be able to remain flexible, competitive and financially strong for the long-term future. Earnings before tax ended at negative SEK 1.6 billion, an improvement of SEK 1.0 billion compared with last quarter, or a SEK 0.7 billion improvement year-on-year. Ticket sales continue to increase ahead of the summer period and SAS is targeting 80% capacity deployment compared to summer 2019.
Cost reductions across all of SAS remain in focus to secure our cost competitiveness. Total operating expenses during the quarter ended at SEK 7.8 billion and total operating revenue landed at SEK 7.0 billion for the quarter. Total revenue increased 27% compared with the first quarter, an improvement of approximately SEK 5.1 billion compared with last year, but still 31% below the second quarter in 2019, which was unaffected by COVID-19.
The cash balance at the end of the quarter was SEK 8.5 billion. At end of the first quarter of FY2022 the cash balance was SEK 3.4 billion. Operational cash flow during the quarter amounted to SEK 2.5 billion, compared with SEK -1.4 billion for the same period last year.
UPDATE ON SAS PROGRESS ON TRANSFORMATION PLANDespite this positive development, SAS continues to face substantial structural cost challenges while also facing growing competition with substantially lower cost structures than SAS. SAS also incurred substantial additional debt during the pandemic that added to its pre-COVID highly leveraged balance sheet. In addition, recent macroeconomic changes (including fuel and exchange rates) and geopolitical events are limiting operations and create additional costs. Given these factors, the SAS Board has concluded that a substantial restructuring is needed to enable SAS to become profitable by implementing SAS FORWARD.
Key Elements of SAS FORWARDReducing the annual costs by SEK 7.5 billion
Redesigned fleet, network and product offerings
Digital transformation
Positioning SAS as the leader in sustainable aviation
Operating platform acceleration
Strengthening SAS’ balance sheet by deleveraging and raising new capital
Debt-to-equity conversion and equity raise
SAS is seeking to convert approximately SEK 20 billion of existing debt and hybrid notes into common equity, of which a majority is on-balance sheet debt and hybrid instruments (state hybrid notes, commercial hybrid notes, lease liabilities, Swiss bonds and term loans from states and commercial banks) and some relates to maintenance contract obligations and other executory contract obligations. The contemplated conversions are designed to strengthen the balance sheet and significantly reduce the debt-burden being carried in order to relieve SAS from elevated financial costs that currently weigh on profitability, and to position SAS for future growth.
In addition to debt conversions, SAS is looking for alternatives to raise new equity. SAS will seek to raise not less than SEK 9.5 billion in equity capital. The planned SEK 9.5 billion or more equity raise is expected to provide sufficient liquidity to fund operations through the full implementation of SAS FORWARD and the recovery in passenger demand post COVID-19. It is currently expected that a significant share of such new equity will likely be sought from new investors.
The new equity capital and debt-to-equity conversions contemplated as part of SAS FORWARD will entail substantial dilution to existing shareholders.
Labor discussionsSAS continues to pursue negotiations with all of its organized labor groups as a means of achieving a consensual outcome with respect to labor’s share of the burden sharing program. Notably, the requested labor concessions are an important element of SAS achieving a competitive and sustainable business model, but in aggregate represent less than 20% of the targeted annual cost improvements. An agreement with organized labor groups is a condition of SAS FORWARD and it will not be possible to raise new capital or secure the future of the airline without labor burden sharing.
Update on discussions with stakeholdersDiscussions are currently ongoing regarding stakeholders’ participation and acceptance of burden sharing. Given the limited progress made so far, there can be no guarantees that SAS FORWARD will be successfully completed. In the event that the expected burden sharing, debt conversions, and new capital raise are not completed as planned, SAS will not be able to support its existing capital structure and current liquidity levels and it cannot be ruled out that SAS could become unable to meet its obligations over the longer term as they fall due.
Implementation processesSAS FORWARD involves complex multiparty negotiations. As is usual in a restructuring process, it is possible that SAS may seek to utilize one or more court restructuring proceedings designed to assist in the resolution of SAS’s financial difficulties and help implement parts of SAS FORWARD.
Finally, it should be noted that the completion of the cost reduction programs, the debt-to-equity conversions, the fleet restructuring and the significant equity capital raise are subject to uncertainty and there can be no guarantee of success in such efforts by SAS. Further, the transactions envisaged are subject to various conditions including EU Commission and other state aid approvals and other regulatory clearances and various stakeholder approvals, which have not yet been obtained.
POSITIVE MARKET DEVELOPMENT TOWARD THE SUMMER SEASONSAS continues the ramp-up and has during the quarter had the highest number of passengers since the pandemic started. We have recently experienced positive market development and strong ticket sales ahead of the important summer season. SAS and Apollo (a provider of charter travel services to and from the Nordic market) also signed an agreement during the quarter, concerning summer charter flights, within the framework of their three-year collaboration. Flights will depart from around 20 locations in Sweden, Norway and Denmark and fly to around 30 Mediterranean destinations.
The SAS traffic program and capacity are increased according to customer demand, but there are constraints to the growth of traffic, as effects of the pandemic linger on. The whole airline ecosystem has difficulties ramping up, which also has an implication on SAS. We foresee challenges during summer relating to everything from airports and ground staffing to crew training bottlenecks such as availability of training instructors, and we also see continued delayed aircraft deliveries. In order to minimize the risk of disruption and create more stability for the upcoming summer travels, SAS has made adjustments to the traffic program during June to August, after the quarter ended.
SAS aims to be a global leader in sustainable aviation and during the quarter we launched the Travel Pass Biofuel, a punch card for corporate customers who regularly travel to the same destination and want to include biofuel to reduce the climate impact of their trips.
SAS Scandinavian Airlines is nominated as Europe’s Leading Airline 2022 by World Travel Awards.

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Southern California’s Ontario International Airport celebrates the launch of its new Aspire premium lounges, providing passengers at America’s fastest-growing airport a new level of comfort and convenience.
Officials for the Ontario International Airport Authority (OIAA) and Swissport International AG officially opened ONT’s two Aspire Lounges – one in each of the airport’s two terminals. The OIAA Board of Commissioners recently approved an agreement with Swissport to operate the premium lounges under the company’s Aspire Airport Lounges brand. Swissport, which operates 64 lounges at 38 airports worldwide, expanded into the United States in February with the opening of a newly refurbished lounge in San Diego.
The all-inclusive premium airport lounges open to all ONT travelers. Guests receive a wide variety of amenities that include hot and cold food and beverages, plush and relaxing seating with ample power outlets, high-speed Wi-Fi and up-to-the-second flight information.
“We’re pleased to welcome Swissport and Aspire Airport Lounges to Ontario. These new premium lounges add to the excitement and momentum that has been building at ONT and reflects our commitment to provide our customers with the best amenities and experience possible,” said Alan D. Wapner, President of the OIAA Board of Commissioners.ADVERTISEMENT“We are delighted to open two new Aspire Lounges in America’s fastest growing airport. The opening of the Ontario lounges mark an important milestone in the expansion of our global lounge network,” says Nick Ames, Head of Lounges North America. “The new lounges in Ontario are open to all travelers irrespective of travel class or airline and offer a dedicated space to relax, refresh and recharge before a flight.”
The Aspire Lounge in Terminal 2 will be open from 5 a.m. – 1 p.m. and from 8 p.m. – 11 p.m. (and until 12 a.m. on Wednesdays). The lounge in Terminal 4 will be open from 5 a.m. to 6 p.m. daily. The lounge is open to all passengers for a current admission fee of $37 per adult.
Visits can be pre-booked at www.aspirelounges.com. All Aspire Lounges accept various entry methods, including eligible American Express cardholders, Priority Pass and more to come.  Each Aspire Lounge offers a discounted “thank you” rate for military and emergency personnel, currently at $30 per adult.
The lounge openings come as ONT continues its strong recovery from the global decline in air travel during the COVID-19 pandemic. Already one of the fastest-recovering airports in the world, ONT has exceeded pre-pandemic passenger volumes for the past two months.

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The International Air Transport Association (IATA) and Federal Authorities for Identity, Citizen, Custom and Port Security (ICP) in United Arab Emirates (UAE) agreed to work together on the deployment of a Pre-Loading Advance Cargo Information (PLACI) System in the UAE.
UAE will be the first country outside of the US and the EU to implement a PLACI regime to create a more secure air cargo supply chain in the country.
The submission of advance cargo information enables ICP to target and assess risks related to cargo shipments prior to the arrival of the shipment to the country of destination. This new layer of security to be applied before loading shipments bound to UAE complies with principles set jointly by the International Civil Aviation Organization and World Customs Organization. The cooperation between IATA and ICP will ensure that industry standards will be integrated in this PLACI regime.
“IATA has a strong relationship with ICP and is proud to assist in the development of the UAE’s pre-loading electronic advance information program. The project will employ IATA messaging standards and existing business processes in one of the few pre-loading electronic advance information programs currently developed worldwide. The endorsement of IATA standards by a national administration is an important step towards harmonizing standards across the industry which is critical for the secure flow of trade.  We look forward to a successful implementation, setting an example for other countries,” said Kamil Alawadhi, IATA’s Regional Vice President for Africa and Middle East.
“The cooperation between IATA and ICP regarding air freight security will contribute to achieving a higher level of security in this vital sector in light of harmonizing national regulations with international standards. This will facilitate the smooth flow of supply chain security and trade through a developed and coordinated approach, which will reinforce UAE’s position as an international center for trade and shipping. It’s worth noting that the ICP UAE is one of the pioneering institutions implementing the initiative which complies with International Civil Aviation Organization and World Customs Organization joint standards” said His Excellency Major General Suhail Saeed Al Khaeeli ICP General Director.ADVERTISEMENT

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Signature Aviation, the world’s largest private aviation terminal operator, has announced the opening of its newly constructed private aviation facility at Birmingham Airport (BHX) in the United Kingdom. The opening marks the full revival of Signature Birmingham following a flood affecting its previous 1930’s era terminal building.
The greenfield construction represents Birmingham’s newest and best-appointed Fixed Base Operator (FBO) facility, featuring a 222 sq. m. building replete with traveler lounge space, refreshment area, and a passenger security screening checkpoint. The terminal also includes a dedicated pilots lounge, and an electric vehicle charging station. Furthermore, Signature Birmingham will continue to offer the consistent, expert line service for which it is renowned for visiting aircraft.
“Signature rapidly mobilized to operate from a temporary facility immediately following the damage to our previous FBO; however, this opening solidifies our ongoing commitment to our customers and the Birmingham Airport as we look to the future,” said John-Angus Smith, Managing Director for Signature EMEA. “We’re thankful for the support of Birmingham Airport Ltd in helping to reestablish Signature’s presence at the airport.”
“The newly built FBO in Birmingham reflects the resilience of our team and the importance of this location within our EMEA network” shared Daniel Myles, Area Director UK. “General aviation continues to be a commercial driver to both the airport and Birmingham city, and we look forward to greeting attendees of the upcoming Commonwealth Games and Women’s UEFA Football Championship this summer.”
Construction of the new facility lasted 12 weeks, with interior fit and finishing taking an additional four weeks.ADVERTISEMENT

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The International Air Transport Association (IATA) has written to the Canadian Government urging the ministers in charge to take immediate action to reduce the massive delays at immigration and security which are presently occurring at the country’s main international airports.
Over the past weeks, Toronto’s Pearson International Airport alone reported that passenger wait times at security screening doubled and, in some instances, even quadrupled. Meanwhile, passengers on nearly every second international arriving flight were subjected to immigration delays, which in some cases included waiting on the airplane for up to three hours before they were allowed to disembark. Over the past four weeks, the travel plans of around 100,000 passengers per week have been disrupted.
Barring the option of the Government removing the current vaccination mandate for air travel, the use of ArriveCAN for capturing and submitting vaccination and health information, and the random on arrival testing, IATA is asking the relevant authorities to:
Introduce dedicated immigration lanes for arriving international passengers who did not provide their required health and vaccination details in advance through ArriveCAN. Canada Border Services Agency (CBSA) data shows that the immigration process for passengers where the ArriveCAN details need to be collected on arrival takes 3-5 minutes as compared to 15-30 seconds in cases where the data has been supplied in advance. This would speed up the immigration for all passengers who completed their ArriveCAN before landing in Canada.
Upgrade the mobile app version of ArriveCAN to include the immigration and customs related questions so arriving international passengers can submit their relevant information in advance of arrival (currently only available on the web based ArriveCAN in Toronto and Vancouver).
Relocate on-arrival random testing facilities from the terminal / airport and/or offer a home testing option.
Ensure that both CBSA and Canadian Air Transport Security Authority (CATSA) have the staffing required to offer an efficient immigration and passenger screening process.
“Aviation, along with travel and tourism, were hit particularly hard during the COVID-19 pandemic and even more so in Canada, due to the very strict border control measures implemented by the government. Following the easing of many of these restrictions, demand is coming back and it is clear that people want to travel. We can therefore ill afford to have passengers subjected to unacceptable wait times both on arrival in the country or on departure. The relevant authorities must urgently consider removing the last remaining travel related COVID-19 restrictions and work with the industry on policies and processes which will allow passengers to pass through airports with no undue delay,” said Peter Cerda, IATA’s Regional Vice President for the Americas.

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