Sep 15, 2022 (PRNewswire via COMTEX) -- PR Newswire
PALM BEACH, Fla., Sept. 15, 2022
PALM BEACH, Fla., Sept. 15, 2022 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - The airline industry is projecting an industry-wide return to profitability in 2023, and full recovery in 2024. Along the way, the world's top airline carriers have been revamping the in-flight experience, most noticeably by adding more meatless options to their menus. "Food is one of the most tangible signals of what an airline thinks of its customers," said former airline executive Henry Harteveldt, founder of travel consulting firm Atmosphere Research Group. From airport restaurants to in-flight food, eating during traveling is often a puzzle, trying to figure out options that are both affordable and nutritious. When you add dietary restrictions into the mix, it makes it even more difficult. Currently, over 9.7 million American identify as vegan , and even more people are looking to reduce their meat and dairy consumption. Now, many major airlines are introducing healthier plant-based options. As a result of that is that the In-Flight Catering Services market should continue its growth rate in the coming years. One report from ResearchAndMarkets projects that the global market for In-Flight Catering Services is projected to reach a revised size of US$21.5 Billion by 2024, registering a compounded annual growth rate (CAGR) of 4.6% over the analysis period. An article in APEX (The Airline Passenger Experience Association) added: "After two-plus years of individually-wrapped snacks and/or no inflight foodservice to speak of, full-service meal options are back and better than ever. Taking a cue from the pandemic-era push towards cleaner, greener living and sustainability, airlines around the globe have been livening up their inflight meal options with a host of sustainable menu items." Active companies in the markets this week include: Pangea Natural Foods Inc. (otcqb:PNGAF) /zigman2/quotes/236610894/delayed CA:PNGA 0.00% , Alaska Air Group /zigman2/quotes/200972303/composite ALK +1.86% , United Airlines Holdings, Inc. /zigman2/quotes/205037281/composite UAL +1.56% , Spirit Airlines, Inc. /zigman2/quotes/205782179/composite SAVE -0.28% , Delta Air Lines /zigman2/quotes/200327741/composite DAL +2.18% .
The report continued: "And though the jury may still be out on how this trend will play with frequent-flyer foodies -- especially in counties used to eating real meat -- Dr. Stathis Kefallonitis, the Associate Professor of Passenger Intelligence at Embry-Riddle Aeronautical University, told APEX Media that this change has been a long time coming. The range of inflight food products being diversified right now has been really exciting, particularly for passengers looking for healthier options when they fly. Plant-based and non-meat alternatives have really exploded, not just in the North American market but everywhere. Healthy snacking too," says Kefallonitis. And when it comes to innovation on all fronts, Kefallonitis said the future is wide open. "The pandemic has created so many opportunities for rethinking the value proposition for airlines. What do we give to the passenger? What do we give them in terms of food and beverage? What really adds value?" Kefallonitis says. "Rethinking food and beverage options is a big part of that."
Pangea Natural Foods Inc. (OTCQB: PNGAF) /zigman2/quotes/236610894/delayed CA:PNGA 0.00% BREAKING NEWS: MUNCHIE MIX TAKES OFF AS PANGEA FINALIZES ANOTHER AIRLINE PARTNERSHIP WITH WESTJET - Pangea Natural Foods Inc. ("Pangea" or the "Company"), a natural food company, is welcoming its newest airline partnership with WestJet. This is the Company's third airline partnership, with Air Canada /zigman2/quotes/208264916/delayed CA:AC +0.96% and British Airways already distributing the Pangea Munchie Mix to their passengers.
"We are very excited about the momentum we have built with a number of airline partners carrying Pangea's Munchie Mix," says Pangea CEO Pratap Sandhu. "The launch of this partnership is yet another way that Pangea aims for its Munchie Mix to become the snack of choice for travelers. We look forward to making Pangea's healthy, GMO-free products readily available to customers not just in Canada and the United States, but globally."
The Pangea Munchie Mix will be available to WestJet's business class passengers on the global carrier's fleet of aircrafts. The airline operates Canada's second largest airline with a fleet of over 160 planes, serving 109 destinations in 24 countries.
Sandhu adds, "The global airline catering business is estimated to be worth US$21 billion by 2024 and Pangea is looking forward to playing a role in the industry . Between British Airways, Air Canada and now WestJet, Pangea's Munchie Mix will be available on over 650 airplanes worldwide. For us, this is just the beginning." CONTINUED... Read this full release and more news for Pangea Natural Foods at: https://www.pangeafood.com/ Other recent developments in the airlines industry include:
Alaska Airlines a subsidiary of Alaska Air Group /zigman2/quotes/200972303/composite ALK +1.86% recently announced that Alaska Airlines guests can veg out on board with more gluten friendly, plant-based and vegan meal options available in all cabins. We're listening to our guests who told us that they are looking for more plant-based menu options when traveling. Our new vegan option, called the "Soy Meets World," is a vegan salad developed in partnership with Evergreens, a West Coast-based company that makes gourmet, freshly chopped salads.
"We're thrilled to offer our guests more healthy and nutritious choices when they fly with us," said Todd Traynor-Corey, managing director of guest products. "We built our menu thoughtfully to offer more plant-based, vegan and gluten-free options, which include a range of fresh, bright flavors inspired by the West Coast and ingredients that are authentically healthy by nature such as roasted broccoli, crisp romaine and baby lettuce greens, quinoa, fresh fruit and more."
United Airlines Holdings, Inc. /zigman2/quotes/205037281/composite UAL +1.56% and Emirates recently announced a historic commercial agreement that will enhance each airline's network and give their customers easier access to hundreds of destinations within the United States and around the world.
United will launch a new direct flight between Newark/New York and Dubai starting in March 2023 - from there, customers can travel on Emirates or its sister airline flydubai to more than 100 different cities. Tickets for United's new Dubai flight are now on sale.
Spirit Airlines, Inc. /zigman2/quotes/205782179/composite SAVE -0.28% recently announced its operational performance ranked among the industry best in the two-month period following when Spirit's peak summer schedule went into effect on June 5. The carrier also set a company record for its highest-ever completion factor performance for the month of July.
"These great results are among the best in the industry and are due to the relentless dedication of our Spirit Family. Our team rose to the occasion to serve record numbers of summer travelers and work through industry challenges to deliver a high value experience for our Guests," said John Bendoraitis, Spirit Airlines Executive Vice President and Chief Operating Officer.
Delta Air Lines /zigman2/quotes/200327741/composite DAL +2.18% recently reported financial results for the June quarter 2022 and provided its outlook for the September quarter 2022. Highlights of the June quarter 2022 results, including both GAAP and adjusted metrics, are on page five and are incorporated here.
"I would like to thank our entire team for their outstanding work during a challenging operating environment for the industry as we work to restore our best-in-class reliability. Their performance coupled with strong demand drove nearly $2 billion of free cash flow as well as profitability in the first half of the year, and we are accruing profit sharing, marking a great milestone for our people," said Ed Bastian, Delta's chief executive officer. "For the September quarter, we expect an adjusted operating margin of 11 to 13 percent, supporting our outlook for meaningful full year profitability."
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