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.
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
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.
AUCKLAND—Japan Airlines (JAL) is concerned about signs of weakness in several international markets, and traffic declines related to earthquakes earlier this year have hurt its domestic operations.
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.
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.
Utah-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.
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.
The European Commission (EC) has warned the U.S. government to be more aggressive in resolving the impasse over foreign air carrier permits for Norwegian Air International (NAI) and Norwegian UK (NUK).
Skyteam airlines serving Beijing will all move to a new airport scheduled to open in 2019, losing the convenient location of Beijing Capital International but preserving their mutual flight connections.
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.
Sherry Carbary, vice president of Boeing Flight Services, said at the EAA AirVenture Oshkosh that 617,000 new pilots will be needed in the next two decades.
