Corendon to cut Boeing 737 fleet by a third over fuel costs

Corendon Airlines Group will cut its Boeing 737 fleet from 30 aircraft to 21 at the start of the winter season, citing high fuel costs. The group runs airline units in Turkey, the Netherlands and Malta, flying 737-800s and 737 Max aircraft.

Seven jets go back to lessors earlier than planned, and a deal covering two wet-leased aircraft will not be renewed when it expires. Chief commercial officer Paul Schwaiger said the group can consider growth again only once the situation improves, and that arrangements to return the leased aircraft are already in place. Routes where seat occupancy falls below 80% lose money, he said, and that is where the group is acting.

Only the Turkish and Maltese units are affected. Corendon Dutch Airlines, which flies three 737 Max 9s, is not. Commercial director Martin de Boer said Amsterdam Schiphol and Groningen would not lose flights for the time being, with nothing changing there in the short term.

Eindhoven airport is the exception. It is due to close for seven months next year for runway maintenance, and De Boer said flights planned for Eindhoven are being moved to Dusseldorf.

Schwaiger said winter bookings are running 2% ahead of last year by passenger numbers, with revenue up 7%, but rising fuel costs are offsetting those gains. In 2022 the group agreed to lease nine 737 Max jets from a US lessor.