AirlinesAir Canada posts uptick in quarterly revenueAir Canada posted revenue gains of 1..3% in the second quarter, beating analyst expectations. Route expansions and low fuel cost boosted the airline's financial performance for the period.
LinkAir France cabin crew strike deepensAir France anticipates a worsening of its ongoing cabin crew strike on July 30, as more staff joins the dispute. The company said July 29 that 42% of cabin crew is now on strike, up from around 37% earlier in the week. This breaks down into 44% of staff on long-haul services and 38% on medium-haul. The French flag carrier said it expects to operate some 80% of services July 30. Earlier in the week, the figure was 90%.
LinkAllegiant Air agrees to buy 12 new Airbus A320ceosLas Vegas-based Allegiant Air has agreed to purchase 12 new Airbus A320ceo aircraft. According to a company statement, this first-time new aircraft purchase is another step toward Allegiant’s planned transition to an all Airbus fleet by 2019. “The fact that these planes are new is notable, but should not be seen as a change in our fundamental strategy,” Allegiant chairman and CEO Maury Gallagher said.
LinkCebu Pacific boosts A330 fleetPhilippines-based low-cost carrier (LCC) Cebu Pacific has placed a firm order for two Airbus A330-300s, the manufacturer said July 29. The new aircraft will expand Cebu Pacific’s existing fleet of six A330s, which operate on long-haul services to the Middle East and Australia, as well on certain domestic and regional sectors.
LinkFedEx fiscal year profit jumps 73% to $1.8 billionUS-based FedEx earned net income of $1.82 billion for its 2016 fiscal year ended May 31, up 73.3% over a net profit of $1.05 billion for the previous fiscal year, on a 6.1% year-over-year (YOY) rise in revenue to $50.37 billion. FedEx’s fiscal year total operating expenses increased 3.7% YOY to $47.29 billion and total operating income was $3.07 billion, up 64.8% over an operating profit of $1.87 billion in the prior fiscal year.
LinkIAG half-year profits jump 67%International Consolidated Airlines Group (IAG) reported a substantially improved half-year performance July 29. Like many counterparts, however, the Group expressed caution on the remainder of the year because of a spread of external factors. Net profit for the Group—which encompasses Irish flag carrier Aer Lingus, British Airways, Spain flag carrier Iberia and Spanish low-cost carrier (LCC) Vueling—rose to €554 million ($618 million), up 66.9% compared to €332 million a year ago, although the latter figure excluded a contribution from Irish national carrier Aer Lingus, which was only formally acquired by IAG in September 2015.
LinkJapan Airlines reports 55% profit drop for June quarterJapan Airlines (JAL) saw its net profit decline 55% to ¥14.7 billion yen ($143.6 million) in the three months through June 30, partly because of earthquakes in Kyushu and weakness in many global markets. Revenue fell 4.8% to ¥297.2 billion during the fiscal first quarter, and operating profit was down 39% to ¥22 billion. Despite these drops, JAL has not changed its guidance of a profit of ¥192 billion for the full fiscal year.
LinkWing Part Found In Tanzania ‘Highly Likely’ From MH370An aircraft wing part found in Tanzania is "highly likely" to be part of missing Malaysia Airlines flight MH370, an Australian government minister said on Friday. Flight MH370 disappeared in March 2014 with 239 passengers and crew on board after taking off from Kuala Lumpur bound for Beijing.
LinkPIA wet-leases three SriLankan A330sPakistan International Airlines (PIA) signed a wet-lease agreement with SriLankan Airlines for three A330s, PIA CEO Bernd Hildenbrand confirmed. “The first aircraft will be delivered [from Aug. 1], while the rest [will come] in the following months,” PIA said July 29.
LinkSingapore Airlines nearly triples 1Q net profitThe Singapore Airlines Group has reported a 2016-17 first-quarter net profit of S$256.6 million ($190 million), nearly tripled from a S$91.2 million net profit in the year-ago period ended June 2015. The result was partially driven by a 4.4% drop in Group expenditure to S$3.46 billion for the 1Q 2016 period.
LinkSkyWest posts $40 million 2Q net profitUtah-based SkyWest, parent of regional carriers SkyWest Airlines and ExpressJet Airlines, reported $40.2 million in 2016 second-quarter net income, up 27.8% from the company’s $31.5 million net income in 2Q 2015. Second-quarter revenue for SkyWest and its subsidiaries increased 1.6% year-over-year (YOY) to $801.3 million while expenses declined 1.8% YOY to $717.2 million, leading to an operating profit of $84.1 million, up 20.3% from a $69.9 million operating profit in the prior-year quarter.
LinkSpirit Airlines 2Q profit down on competition pressureFlorida-based ultra low-cost carrier Spirit Airlines reported 2016 second-quarter net income of $73.1 million, down 4.7% from a $76.7 million profit in the year-ago period. The airline said that continued competitive pressure made the end of the second quarter challenging. Revenue for the second quarter rose 5.5% to $584.1 million while expenses increased 7.2% to $462 million, producing an operating profit of $121.8 million, almost flat from an operating profit of $122 million in the prior-year quarter.
LinkSouthwest announces 160th straight quarterly dividendSouthwest Airlines has announced a quarterly dividend of $0.10 per share, matching the payout from last quarter.. Southwest said that the latest quarterly dividend marketed the 160th straight dividend and would be paid on Sept. 8.
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