AirlinesAir China, China Southern Dismiss Report Of MergerAir China and China Southern Airlines dismissed a media report of a possible merger of the two state-owned carriers. Shanghai Securities News, owned by the official Xinhua News Agency, had reported that both airlines were likely to join forces, citing market talk, as Beijing moves to consolidate state-run conglomerates to improve competitiveness.
LinkAlaska CEO: 3Q net result ‘highest quarterly profit ever’Alaska Air Group, parent of Alaska Airlines and Horizon Air, reported GAAP net income of $274 million for the third-quarter, up 38.4% year-over-year (YOY). Alaska had net income of $198 million in the 2014 September quarter. In the 2015 first quarter, Alaska’s net take was $149 million; for the 2015 second-quarter, the group’s net profit was a then-record $234 million. “This was the biggest summer in our 83-year history and represents our highest quarterly profit ever,” Alaska Air Group CEO Brad Tilden said.
LinkAllegiant posts $44.5 million 3Q net profitLas Vegas-based Allegiant Travel Co., parent of Allegiant Air, posted $44.5 million in net profit for the third-quarter, tripling its 3Q 2014 result. The company had reported net income of $14.1 million in the September 2014 quarter. It is the ultra-low-cost carrier’s 51st consecutive profitable quarter. “[We continue] to benefit from lower energy costs and the profitable growth of our network,” Allegiant Travel Company chairman and CEO Maurice Gallagher said. “[It is] our belief that that growth rates should not exceed the capabilities of our infrastructure. We are … simplifying our operations where possible. Our eventual migration to an all-Airbus fleet is the biggest step in this effort.”
LinkHNA Group signs $2.4 billion engine deal with Rolls-RoyceHainan Airlines parent HNA Group signed an agreement worth $2.4 billion for engines and services with Rolls-Royce to power its new aircraft. The announcement was made during a state visit by the president of the People’s Republic of China, Xi Jinping, to the UK. The deal includes Trent 700 engines and TotalCare service support for 20 Airbus A330s; TotalCare service support for Trent XWB engines that will power 15 Airbus A350-900s; and TotalCare service support for Trent 700 engines that power five A330 freighters and four Airbus A330s.
LinkIndiGo seeks $500 million from IPOIndian low-cost carrier (LCC) IndiGo is looking to raise up to $500 million in an upcoming initial public offering (IPO) to cut debt and fund a recent $26 billion aircraft order. Slated for the end of October, the IPO will place some 12% of the company’s shares into the market. IndiGo president Aditya Ghosh said the offering would help capitalize on its previous successes in the competitive domestic market.
LinkNorwegian orders up to 29 more 787-9sScandinavian budget carrier Norwegian is ordering another 19 Boeing 787-9s, with options on a further 10 of the type. Norwegian has previously ordered 11 787-9s through lease deals and operates a fleet of eight of the smaller 787-8. No engine selection has been disclosed for the additional -9s but the airline’s 787 fleet is fitted with Rolls-Royce Trent 1000 powerplants.
LinkQatar to show four aircraft in Dubai but no big orders plannedQatar Airways plans to exhibit four aircraft at next month's Dubai air show, but the signs are it will not be making any major order announcements. The airline's group chief executive Akbar Al Baker tells Flightglobal that there will be three Qatar Airways airliners at Dubai: an Airbus A350-900, an A380 and its 25th Boeing 787-8. It will also debut its Gulfstream 650ER business jet, the first of 30 Gulfstreams joining the fleet of private-jet division Qatar Executive.
LinkSouthwest Reports Strong Q3 Profit IncreaseSouthwest Airlines reported third-quarter net profit 77 percent up on the same period a year ago, and forecast a unit revenue rise in the fourth quarter. The US budget carrier earned USD$584 million in the third quarter, up from USD329 million in the year prior. Southwest forecast that unit revenue would rise about 1 percent in the fourth quarter compared to the previous year.
LinkUnited Airlines Q3 Profit Up 58 PercentUnited Airlines reported adjusted profit of USD$1.7 billion for the third quarter, up 58 percent from a year earlier thanks to lower fuel costs. Third quarter revenue was USD$10.3 billion, a decrease of 2.4 percent year-over-year. United forecast unit revenue will decline by between 4 and 6 percent in the fourth quarter. Delta Air Lines expects a drop in the same measure between 2.5 and 4.5 percent.
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