Coronavirus

MTU AERO ENGINES had €49m net income on €989m revenues in 1Q21 vs €112m on €1.3b in 1Q20, and ended quarter with order backlog of €20.2b, up 9% from

SAFRAN reported revenues of €3.3b in 1Q21 vs €5.4b in 1Q20; Aerospace Propulsion fell 37.5% and Aircraft Interiors fell 55%.

CFM INTERNATIONAL delivered 26 CFM56s/188 LEAPs in 1Q21 vs 54/272 in 1Q20; it has backlog of >9,200 LEAP engines.

High stakes and big choices will shape business travel recovery.

How can we expect the global airline industry to return to self-sustainability when it is built on junk bonds? This is an important question as

Heavily indebted Hainan Airlines sunk to a record CNY64 billion ($9.8 billion) net loss for 2020 as debt restructuring for its bankrupt parent company HNA Group drags on.

In a depressed air transport market where passenger transit is not expected to return to pre-pandemic levels until 2024 and belly hold capacity remains limited, Lufthansa Technik and Airbus have presented a new offer to Airbus A330 operators.

First mission is to send an uncrewed Orion capsule into lunar orbit.

Finland fighter bids submitted; Air Force One’s costs rise; Pentagon’s R&D nominee; and Top Aces win renewal.

CARGOLUX had US$769m net profit in 2020 (vs $20m in 2019) on 40% higher revenues, and ended year with 30 747Fs.

After some fits and starts during the last couple of years, Frontier Airlines is once again a publicly traded company.

MESA AIR GROUP has secured $195m from US Treasury via Payroll Support Program 3 in exchange for stock warrants.

LUFTHANSA GROUP had €1b net loss in 1Q21 (vs €2.1b loss in 1Q20) on 60% lower revenues, and ended quarter with €10.6b in liquidity; traffic revenues

The European parliament has taken another step toward a COVID-19 passport for the region, voting Wednesday on the implementation of the EU COVID-19 certificate.

EMBRAER had US$89.7m net loss on US$807.3m revenues (33.7% commercial aviation) in 1Q21 vs US$292m loss on US$633.8m (21.9%) in 1Q20 and ended quarter

CATHAY PACIFIC plans May 21 to resume weekly Hong Kong-Dubai (A330-300).

AVOLON had $83m net loss on $470m lease revenues in 1Q21 vs $141m profit on $644m in 1Q20, and ended quarter with owned/managed/committed fleet of 840

TRANSAT secured C$700m in funding from Government of Canada (via LEEFF program) to offset losses from COVID-19.

GOL had R$2.5b net loss in 1Q21 (vs R$2.3b loss in 1Q20) on 50% lower revenues, and ended quarter with R$1.8b in liquidity. It is initiating a capital

AIRBUS had €362m net income on €10.5b revenues in 1Q21 vs €481m net loss on €10.6b in 1Q20; Commercial Aircraft earned €343m (vs €57m) on 4% lower

BOEING says 737 program is currently producing at a low rate and expects to gradually increase production to 31 per month in early 2022; it adds 777

Lufthansa Group expects a steep recovery in the second half of 2021 after posting disappointing results for the first quarter (Q1) of the year.

Lufthansa subsidiaries Austrian Airlines, Swiss International Air Lines (SWISS) and Brussels Airlines reported substantial losses for 2021 first quarter (Q1), traditionally the lowest performing period of the aviation year.

HAWAIIAN AIRLINES had $60.7m net loss in 1Q21 (vs $144.4m loss in 1Q20) on 67.4% lower revenues; it has $1.9b cash.

GE AVIATION earned $641m on $5b revenues in 1Q21 vs $1b on $6.9b in 1Q20; it delivered 359 commercial engines (188 LEAPs) vs 530 (272). It says