December 8, 2025 • 15 mins
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In this episode, Lewis Harper is joined by Howard Hardee.
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First Flight is a production of FlightGlobal, an award-winning aviation media company, and is executive produced by Amber Elias. Audio editing by Lucy Johnson.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:07):
Welcome to FLIGHT Global Focus. My name is Lewis Harper, editor
of Airline Business. And joining me for this episode
is FLIGHT Global's airlines reporter for the Americas,
Howard Hardy. Hi, Howard.
Hi, Liz. Thank you.
This week we're looking to LatinAmerica, a really interesting
airline market that you've been following closely and even
(00:30):
visiting in recent times. Howard, are you getting the
impression that Latin American airline businesses are finishing
the year strongly? And ultimately, what's driving
that demand for airline seats inthe region?
Yeah. I think even more generally than
just this quarter, the third quarter that just wrapped up
with Avianca reporting their third quarter results, we're
getting the sense that Central and South American cities are on
(00:53):
the radar for international travellers and people who live
there are travelling by air morethan they used to as well.
I live in the US and I just did the Panama stopover programme
that Copa does on my way back from the Alta conference in
Lima. That programme encourages you to
stay in Panama for a few days when you have a layover there,
like how Iceland Air does it. TAP does a similar thing in
(01:16):
Portugal. Copa is the national airline of
Panama, so they're big on promoting tourism there, and
it's just a really big hub for travel in between North and
South America. This growing international hub,
because it happens to be situated in this kind of ideal
place between the continents as well as the Caribbean.
Elsewhere in the region, Bogota is seeing a lot of growth in
(01:37):
terms of being a transit hub, sothey have pretty serious
infrastructure issues at the airport there.
Lima, to a slightly lesser extent than Panama and Bogota,
is a big hub as well. Lima has strong connections to
the West Coast of Mexico and theUnited States, and it's also
jumping off point for flights further South into Deep South
America. They also have their fair share
(01:59):
of airport and policy making problems in Lima, but it is a
really important network piece for several carriers in the
region. You've also got really big
cities in and airports in Brazil, though airport
congestion there is notorious Chile and Argentina are these
airline friendly countries that have kind of bought into the
(02:20):
idea of air travel as an economic driver.
And this isn't even mentioning, you know, the natural features
of South America that are reallya really big draw for
international travellers like the Amazon and the Andes and
Machu Picchu and so forth. And, you know, the data suggests
that there's this growing interest in air travel from
(02:40):
within Latin American countries themselves.
A lot of the carriers are talking about the surge in first
time Flyers where people are getting newly exposed to it.
Some people are starting to takeplanes instead of buses, for
instance. Those same airlines have also
been talking a lot about increasing demand for
international flights. We're hearing that pretty much
across the board. And I believe that you've been
(03:03):
hearing from European carriers that Latin America is viewed as
a growth opportunity for long haul flights, right, Lewis?
Yes, covering earnings calls in Europe recently, there's kind of
two things they've all got in common when you hear the the big
network groups talking. So one is generally strong
premium demand, but but almost university, they mentioned that
(03:24):
Latin American yields are well, they're highest performers and
that they're really encouraged by trends in connecting to that
market. Specifically looking at Iberia,
for example, in Spain obviously has a lot of connections into
Latin America. It's recently talked about
(03:45):
Madrid being the new Miami, so areally popular destination for
people from the Latin American region with money to, to invest.
So it's, it's kind of enjoying the the fruits of that in
Madrid. And, and another example of of
how that's attracting airline interest is, is obviously Air
Europa, the second biggest carrier at Madrid, also
(04:08):
obviously a big connector from Europe into Latin America.
We know IAG tried to take a controlling stake in in Air
Europa in recent years, but failed because the the remedies
for that would have been too harsh.
But Turkish Airlines recently oris working towards being a
significant investor in a Europanow and again that they they're
(04:30):
wanting a piece of the action interms of being able to connect
it's passengers on on to Latin America through Madrid.
So yeah, it's, it's a big talking point for a lot of
airline groups in Europe at the moment.
When we look at a lot of markets, maybe where we're based
are a more mature, I think it's viewed as a as a bit of a land
(04:51):
of opportunity for a lot of carriers.
Yeah. And on the opposite side of the
coin, we hear that a lot from Latin American carriers about
the growing interest in international travel to Europe.
Avianca and LATAM have been talking quite a bit about adding
wide body long haul capacity to their fleets.
So that's a big area of focus. And you know, just taking a step
(05:13):
back, adding this all up, it really does look like Latin
America is merging as a major growth area for the global
airline industry. As you just mentioned, some
airline executives will tell youthat it's still an immature
market with a lot of runway ahead.
Think it's also worth noting that Airbus and Boeing and
Embraer, they all have a big interest in selling planes to
(05:33):
Latin American airlines. It's a strong neuron body market
in particular, and there's some opportunities for long range
narrow bodies like the A321, XLRto open new routes in the
future. So it feels like Latin America
is on the upswing at a time where demand is maybe a little
weaker in North America. Yeah.
And the region overall showed strong growth in the the third
(05:54):
quarter, the recent third quarter with revenue and profits
up and indicators showing capacity rising.
I think when when I looked at the data for for the four major
regions we track, Latin Americancapacity and traffic was
significantly ahead of the otherregions in terms of growth
during the third quarter. And do you see a sort of a
(06:15):
healthy airline sector in in thenumbers you've seen?
I do it. It feels like it's a healthy
airline sector in Latin America and to some extent you've just
got to tip your cap to some of the airlines.
Some of them are are really well, well run operations.
Aeromexico, for example, is one of the most on time airlines in
the world. LATAM is just kind of the
(06:36):
juggernaut in the region, often compared to Delta.
By no coincidence, they have a joint venture with Delta and
they really just rake in revenueand profits.
Copa is is this steady as she goes, tortoise wins the race
sort of operation that is reliably profitable quarter by
quarter. Copa is also found because it's
run by the oldest serving airlines CEO in the world, Pedro
(06:58):
Heilbrun. Abergroup, which owns Avianca
and Goal, and perhaps Sky Airline soon.
They are increasingly looking like a formidable presence in
the region as well. It looks like they're going to
have a really big combined fleetand it's looking like that fleet
is going to have some pretty significant long haul capability
to challenge Latam's dominance in that regard.
(07:20):
Plus they're shooting for an IPOnext year, so it feels like
they're on this sort of new strategic direction that is
fairly ambitious. And you know, we haven't even
mentioned the low cost carriers in Mexico, Volaris and Vivo aero
booths. They have their issues,
particularly with lots of jets on the ground due to Pratt and
(07:41):
Whitney's geared turbofan recallgetting engine work done.
Basically, both have been among the hardest hit airlines in the
world by the GTF. Recall.
If you sort of take away that issue though, with the
constrained fleets and the lack of engine availability, it
actually looks like Velaris and Viva are doing better than some
(08:01):
of their low cost counterparts in the US.
Notably, you know, demand for flights from Mexico to the USA
is still down, likely due to US tariffs and rhetoric coming out
of the administration. We'll see how much that demand
bounces back in the next couple of quarters.
And just overall, I think it's worth noting that these are not
(08:22):
easy places to operate in Latin America.
You have major capacity restraints from an airport
infrastructure standpoint, just not enough gates and slots.
Airlines are have been clamouring for years for greater
accommodations. There are high altitude airports
which can be challenging for aircraft performance.
(08:43):
Currencies in Latin America can be volatile, which can really
eat into your profits. And maybe most impressively,
none of these carriers received government assistance when we
are coming out of the COVID pandemic.
Granted, a lot of them ended up filing for bankruptcy in the
years afterward because South America maybe isn't the most
airline friendly region in termsof regulation.
(09:05):
So that's all to say, it would be easy to have a narrative
about why you're not profitable,but a lot of carriers in Latin
America are doing really well and it feels like there's
momentum in the region overall. Thanks.
So, Ed, yeah, it seems like I may have been mispronouncing
Vivaaerobus for for all the years I've been covering the
industry, but so thanks for that.
I was also surprised by that onewhen I heard it.
(09:30):
So you've talked about a a lot of the impositives there, the
opportunities, but it, it isn't as if all airlines in Latin
America are are kind of firing on all cylinders and there are
some real challenges in the region.
I mean, the most obvious examplewould be Azor, which is
currently going through Chapter 11.
Can you talk us through that? Yeah, that's absolutely right.
(09:51):
Azul is one of the Brazilian carriers.
They're based in Sao Paulo. Lately they've been undergoing A
restructuring process in the US Bankruptcy Court.
It was kind of odd when they filed earlier this year, I don't
know that a lot of people in theindustry were expecting them to
do that. They had just completed a
self-imposed restructuring, and it didn't really look like they
(10:11):
were struggling from an outside perspective.
But they have since said that they've had some lingering debt
issues and capital structure issues since the pandemic.
Also, they get sued a lot. This is something they bring up
at conferences when you hear their executives speak.
In Brazil, there are looser lawson bringing lawsuits against
airlines for cancellations and delays, and apparently that adds
(10:34):
up to be a pretty significant financial weight on Azul.
They also had a tough go of it last year with flooding in
Brazil and some currency devaluation mixed in there as
well. But Azul's team says that
they're making progress. They've been reworking some
deals with aircraft lessors to sort of better position
themselves for the future and bea bit more light and nimble
(10:54):
moving forward. And even as they're going
through Chapter 11, they've actually done pretty well
performance wise. They're also backed financially
by American Airlines and United Airlines in the United States.
So it's not all doom and gloom for Azul.
And they say that they hope to be done with the Chapter 11
process in February. Looking a bit further into the
(11:14):
future, another long term headwind facing Latin American
carriers is the lack of sustainable aviation fuel.
Correct me if I'm wrong, but it feels like they have a
potentially much more difficult path to cutting emissions than
some of their counterparts in Europe and North America.
Yeah. So I just had a chance to sit
down with Roberto Alvo, who is the CEO of Latin Airlines at the
(11:36):
Ulta Conference in Lima back in October.
We talked quite a bit about that, the lack of sustainable
aviation fuel, or SAFF. He says that they're essentially
0 projects underway that could produce a significant amount of
sustainable aviation fuel by theend of the decade.
A couple of years back at the Altar conference, although had
(11:57):
declared that he wanted the airline group to be using 5% SAF
across all of its subsidiary fleets by 20-30.
And now that really just doesn'tlook like it's even.
Even that relatively modest goalis realistic, which I think
speaks to the difficulty of the region would have in meeting the
global net 0 by 2050 target. There's also this argument that
(12:23):
some executives make that South American carriers have
contributed A relatively small amount to global emissions
relative to their counterparts and North America in particular,
and also Europe. And maybe it shouldn't be their
burden to decarbonize their operations without government
help. That's what they say at least.
Not to mention Latin American travellers are really sensitive
(12:46):
to high prices. It's still a developing region.
So if really expensive syntheticfuel is driving up the cost of
airline seats, a lot of people will literally just go take the
bus. I'm not sure if the whole SAF
picture makes a whole lot of sense in Latin America with no
infrastructure for it and seemingly no road map for
(13:09):
producing it at scale in the future.
And what else will you be watching for in the Latin
American airline sector? I'm personally curious to see if
Abra Group pulls off its deal toacquire Sky Airline.
Sky is a smaller outfit based inChile, but they also have an
operation in Peru and they've kind of long been identified as
(13:32):
a likely consolidation target. What's interesting about the
deal in particular, aside from, you know, Abra getting a little
bit more market share in Chile and Peru, is that Sky has A321,
XLR is on order with Airbus, andin fact they're trying to become
South America's launch customer for the type next year.
(13:55):
So if the deal is successful andSky becomes an ABBA group
member, the group could potentially get their hands on
the region's first XLRS. And it'll be interesting to see
how those long range single aisle jets are deployed in the
Latin American context. And in the bigger picture, I'll
be watching to see whether Abigroup really can give LATAM a
(14:17):
run for its money as you know, the dominant carrier in the
region. I really think of that as maybe
the most interesting storyline to follow.
So I'll be watching to see how their growth plan goes and if
they're able to execute that IPOsometime next year.
Many thanks for your insights, Howard.
No problem, Liz. Thank you.
Flight Global Focus is your essential podcast for trusted
(14:39):
aviation insight. We publish new episodes twice
weekly. Join us on Friday for a concise
news briefing and on Monday for an in depth analysis covering
airlines, defence and aerospace.Flight Global Focus is a
production of Flight Global withaudio editing by Lucy Johnson.
If you have any questions, comments, suggestions, or for
(15:00):
commercialopportunitiespleaseemailpodcast@flightglobal.comand more information can be
found in the show notes. Listeners can also access 20%
off your new subscription to Flight Global with the code FG
Podcast and Terms and Conditionsapply.
Listen, rate, review, and subscribe wherever you get your
(15:22):
podcasts.
Welcome to FLIGHT Global Focus. My name is Lewis Harper, editor
of Airline Business. And joining me for this episode
is FLIGHT Global's airlines reporter for the Americas,
Howard Hardy. Hi, Howard.
Hi, Liz. Thank you.
This week we're looking to LatinAmerica, a really interesting
airline market that you've been following closely and even
(00:30):
visiting in recent times. Howard, are you getting the
impression that Latin American airline businesses are finishing
the year strongly? And ultimately, what's driving
that demand for airline seats inthe region?
Yeah. I think even more generally than
just this quarter, the third quarter that just wrapped up
with Avianca reporting their third quarter results, we're
getting the sense that Central and South American cities are on
(00:53):
the radar for international travellers and people who live
there are travelling by air morethan they used to as well.
I live in the US and I just did the Panama stopover programme
that Copa does on my way back from the Alta conference in
Lima. That programme encourages you to
stay in Panama for a few days when you have a layover there,
like how Iceland Air does it. TAP does a similar thing in
(01:16):
Portugal. Copa is the national airline of
Panama, so they're big on promoting tourism there, and
it's just a really big hub for travel in between North and
South America. This growing international hub,
because it happens to be situated in this kind of ideal
place between the continents as well as the Caribbean.
Elsewhere in the region, Bogota is seeing a lot of growth in
(01:37):
terms of being a transit hub, sothey have pretty serious
infrastructure issues at the airport there.
Lima, to a slightly lesser extent than Panama and Bogota,
is a big hub as well. Lima has strong connections to
the West Coast of Mexico and theUnited States, and it's also
jumping off point for flights further South into Deep South
America. They also have their fair share
(01:59):
of airport and policy making problems in Lima, but it is a
really important network piece for several carriers in the
region. You've also got really big
cities in and airports in Brazil, though airport
congestion there is notorious Chile and Argentina are these
airline friendly countries that have kind of bought into the
(02:20):
idea of air travel as an economic driver.
And this isn't even mentioning, you know, the natural features
of South America that are reallya really big draw for
international travellers like the Amazon and the Andes and
Machu Picchu and so forth. And, you know, the data suggests
that there's this growing interest in air travel from
(02:40):
within Latin American countries themselves.
A lot of the carriers are talking about the surge in first
time Flyers where people are getting newly exposed to it.
Some people are starting to takeplanes instead of buses, for
instance. Those same airlines have also
been talking a lot about increasing demand for
international flights. We're hearing that pretty much
across the board. And I believe that you've been
(03:03):
hearing from European carriers that Latin America is viewed as
a growth opportunity for long haul flights, right, Lewis?
Yes, covering earnings calls in Europe recently, there's kind of
two things they've all got in common when you hear the the big
network groups talking. So one is generally strong
premium demand, but but almost university, they mentioned that
(03:24):
Latin American yields are well, they're highest performers and
that they're really encouraged by trends in connecting to that
market. Specifically looking at Iberia,
for example, in Spain obviously has a lot of connections into
Latin America. It's recently talked about
(03:45):
Madrid being the new Miami, so areally popular destination for
people from the Latin American region with money to, to invest.
So it's, it's kind of enjoying the the fruits of that in
Madrid. And, and another example of of
how that's attracting airline interest is, is obviously Air
Europa, the second biggest carrier at Madrid, also
(04:08):
obviously a big connector from Europe into Latin America.
We know IAG tried to take a controlling stake in in Air
Europa in recent years, but failed because the the remedies
for that would have been too harsh.
But Turkish Airlines recently oris working towards being a
significant investor in a Europanow and again that they they're
(04:30):
wanting a piece of the action interms of being able to connect
it's passengers on on to Latin America through Madrid.
So yeah, it's, it's a big talking point for a lot of
airline groups in Europe at the moment.
When we look at a lot of markets, maybe where we're based
are a more mature, I think it's viewed as a as a bit of a land
(04:51):
of opportunity for a lot of carriers.
Yeah. And on the opposite side of the
coin, we hear that a lot from Latin American carriers about
the growing interest in international travel to Europe.
Avianca and LATAM have been talking quite a bit about adding
wide body long haul capacity to their fleets.
So that's a big area of focus. And you know, just taking a step
(05:13):
back, adding this all up, it really does look like Latin
America is merging as a major growth area for the global
airline industry. As you just mentioned, some
airline executives will tell youthat it's still an immature
market with a lot of runway ahead.
Think it's also worth noting that Airbus and Boeing and
Embraer, they all have a big interest in selling planes to
(05:33):
Latin American airlines. It's a strong neuron body market
in particular, and there's some opportunities for long range
narrow bodies like the A321, XLRto open new routes in the
future. So it feels like Latin America
is on the upswing at a time where demand is maybe a little
weaker in North America. Yeah.
And the region overall showed strong growth in the the third
(05:54):
quarter, the recent third quarter with revenue and profits
up and indicators showing capacity rising.
I think when when I looked at the data for for the four major
regions we track, Latin Americancapacity and traffic was
significantly ahead of the otherregions in terms of growth
during the third quarter. And do you see a sort of a
(06:15):
healthy airline sector in in thenumbers you've seen?
I do it. It feels like it's a healthy
airline sector in Latin America and to some extent you've just
got to tip your cap to some of the airlines.
Some of them are are really well, well run operations.
Aeromexico, for example, is one of the most on time airlines in
the world. LATAM is just kind of the
(06:36):
juggernaut in the region, often compared to Delta.
By no coincidence, they have a joint venture with Delta and
they really just rake in revenueand profits.
Copa is is this steady as she goes, tortoise wins the race
sort of operation that is reliably profitable quarter by
quarter. Copa is also found because it's
run by the oldest serving airlines CEO in the world, Pedro
(06:58):
Heilbrun. Abergroup, which owns Avianca
and Goal, and perhaps Sky Airline soon.
They are increasingly looking like a formidable presence in
the region as well. It looks like they're going to
have a really big combined fleetand it's looking like that fleet
is going to have some pretty significant long haul capability
to challenge Latam's dominance in that regard.
(07:20):
Plus they're shooting for an IPOnext year, so it feels like
they're on this sort of new strategic direction that is
fairly ambitious. And you know, we haven't even
mentioned the low cost carriers in Mexico, Volaris and Vivo aero
booths. They have their issues,
particularly with lots of jets on the ground due to Pratt and
(07:41):
Whitney's geared turbofan recallgetting engine work done.
Basically, both have been among the hardest hit airlines in the
world by the GTF. Recall.
If you sort of take away that issue though, with the
constrained fleets and the lack of engine availability, it
actually looks like Velaris and Viva are doing better than some
(08:01):
of their low cost counterparts in the US.
Notably, you know, demand for flights from Mexico to the USA
is still down, likely due to US tariffs and rhetoric coming out
of the administration. We'll see how much that demand
bounces back in the next couple of quarters.
And just overall, I think it's worth noting that these are not
(08:22):
easy places to operate in Latin America.
You have major capacity restraints from an airport
infrastructure standpoint, just not enough gates and slots.
Airlines are have been clamouring for years for greater
accommodations. There are high altitude airports
which can be challenging for aircraft performance.
(08:43):
Currencies in Latin America can be volatile, which can really
eat into your profits. And maybe most impressively,
none of these carriers received government assistance when we
are coming out of the COVID pandemic.
Granted, a lot of them ended up filing for bankruptcy in the
years afterward because South America maybe isn't the most
airline friendly region in termsof regulation.
(09:05):
So that's all to say, it would be easy to have a narrative
about why you're not profitable,but a lot of carriers in Latin
America are doing really well and it feels like there's
momentum in the region overall. Thanks.
So, Ed, yeah, it seems like I may have been mispronouncing
Vivaaerobus for for all the years I've been covering the
industry, but so thanks for that.
I was also surprised by that onewhen I heard it.
(09:30):
So you've talked about a a lot of the impositives there, the
opportunities, but it, it isn't as if all airlines in Latin
America are are kind of firing on all cylinders and there are
some real challenges in the region.
I mean, the most obvious examplewould be Azor, which is
currently going through Chapter 11.
Can you talk us through that? Yeah, that's absolutely right.
(09:51):
Azul is one of the Brazilian carriers.
They're based in Sao Paulo. Lately they've been undergoing A
restructuring process in the US Bankruptcy Court.
It was kind of odd when they filed earlier this year, I don't
know that a lot of people in theindustry were expecting them to
do that. They had just completed a
self-imposed restructuring, and it didn't really look like they
(10:11):
were struggling from an outside perspective.
But they have since said that they've had some lingering debt
issues and capital structure issues since the pandemic.
Also, they get sued a lot. This is something they bring up
at conferences when you hear their executives speak.
In Brazil, there are looser lawson bringing lawsuits against
airlines for cancellations and delays, and apparently that adds
(10:34):
up to be a pretty significant financial weight on Azul.
They also had a tough go of it last year with flooding in
Brazil and some currency devaluation mixed in there as
well. But Azul's team says that
they're making progress. They've been reworking some
deals with aircraft lessors to sort of better position
themselves for the future and bea bit more light and nimble
(10:54):
moving forward. And even as they're going
through Chapter 11, they've actually done pretty well
performance wise. They're also backed financially
by American Airlines and United Airlines in the United States.
So it's not all doom and gloom for Azul.
And they say that they hope to be done with the Chapter 11
process in February. Looking a bit further into the
(11:14):
future, another long term headwind facing Latin American
carriers is the lack of sustainable aviation fuel.
Correct me if I'm wrong, but it feels like they have a
potentially much more difficult path to cutting emissions than
some of their counterparts in Europe and North America.
Yeah. So I just had a chance to sit
down with Roberto Alvo, who is the CEO of Latin Airlines at the
(11:36):
Ulta Conference in Lima back in October.
We talked quite a bit about that, the lack of sustainable
aviation fuel, or SAFF. He says that they're essentially
0 projects underway that could produce a significant amount of
sustainable aviation fuel by theend of the decade.
A couple of years back at the Altar conference, although had
(11:57):
declared that he wanted the airline group to be using 5% SAF
across all of its subsidiary fleets by 20-30.
And now that really just doesn'tlook like it's even.
Even that relatively modest goalis realistic, which I think
speaks to the difficulty of the region would have in meeting the
global net 0 by 2050 target. There's also this argument that
(12:23):
some executives make that South American carriers have
contributed A relatively small amount to global emissions
relative to their counterparts and North America in particular,
and also Europe. And maybe it shouldn't be their
burden to decarbonize their operations without government
help. That's what they say at least.
Not to mention Latin American travellers are really sensitive
(12:46):
to high prices. It's still a developing region.
So if really expensive syntheticfuel is driving up the cost of
airline seats, a lot of people will literally just go take the
bus. I'm not sure if the whole SAF
picture makes a whole lot of sense in Latin America with no
infrastructure for it and seemingly no road map for
(13:09):
producing it at scale in the future.
And what else will you be watching for in the Latin
American airline sector? I'm personally curious to see if
Abra Group pulls off its deal toacquire Sky Airline.
Sky is a smaller outfit based inChile, but they also have an
operation in Peru and they've kind of long been identified as
(13:32):
a likely consolidation target. What's interesting about the
deal in particular, aside from, you know, Abra getting a little
bit more market share in Chile and Peru, is that Sky has A321,
XLR is on order with Airbus, andin fact they're trying to become
South America's launch customer for the type next year.
(13:55):
So if the deal is successful andSky becomes an ABBA group
member, the group could potentially get their hands on
the region's first XLRS. And it'll be interesting to see
how those long range single aisle jets are deployed in the
Latin American context. And in the bigger picture, I'll
be watching to see whether Abigroup really can give LATAM a
(14:17):
run for its money as you know, the dominant carrier in the
region. I really think of that as maybe
the most interesting storyline to follow.
So I'll be watching to see how their growth plan goes and if
they're able to execute that IPOsometime next year.
Many thanks for your insights, Howard.
No problem, Liz. Thank you.
Flight Global Focus is your essential podcast for trusted
(14:39):
aviation insight. We publish new episodes twice
weekly. Join us on Friday for a concise
news briefing and on Monday for an in depth analysis covering
airlines, defence and aerospace.Flight Global Focus is a
production of Flight Global withaudio editing by Lucy Johnson.
If you have any questions, comments, suggestions, or for
(15:00):
commercialopportunitiespleaseemailpodcast@flightglobal.comand more information can be
found in the show notes. Listeners can also access 20%
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