Aviation Daily, August 1, 2016

International Airlines Group (IAG) has become the latest European airline company to revise its profit forecast downwards, as it feels the effect of slowing demand and strong currency fluctuations.

North American destinations, notably in Mexico, account for half of the 12 long-haul services that Chinese airlines proposed to open in late July.

Allegiant Air is breaking with its longstanding practice of buying older aircraft with an order for 12 new Airbus A320s.

While Virgin Australia remains a popular investment option for overseas airlines, the carrier is set to report a significant net loss due to restructuring costs.

Malaysia Airlines Berhad (MAB) is considering further fleet acquisitions in the wake of this week’s order for up to 50 aircraft from the Boeing 737 MAX family.

25 Years Ago Aug. 1, 1991—Eastern Air Lines stopped flying in January, but its lawyers and financial consultants keep on billing. To prevent insolvency, a New York bankruptcy judge refuses payment on $19 million of the nearly $86 million in professional fees run up since Eastern declared bankruptcy in March 1989.

Embraer has posted a net loss for the second quarter of 2016, and has set aside a $200 million loss contingency in connection with an investigation under the Foreign Corrupt Practices Act.

Embattled British engine maker Rolls-Royce pleasantly surprised stock traders July 28, posting a midyear operating profit that zoomed over losses widely expected to be reported.

View the ALTA Passenger Traffic - May 2016 chart in PDF format.

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To list an event, send information in calendar format to Donna Thomas at [email protected]. For a complete list of Aviation Week Network’s upcoming events, and to register, visit www.aviationweek.com/events (Bold type indicates new calendar listing). Aug. 22-25—Air Line Pilots Association, 62nd Air Safety Forum, Washington Hilton, Washington, D.C., http://safetyforum.alpa.org Aug. 30-31—4th Airline Cost Conference, ​IATA Conference Center, Geneva, Switzerland, www.iata.org/events/Pages/airline-cost-conference.aspx