Qantas has slashed growth plans and warned of management cuts as the airline grapples with unprecedented natural disasters and soaring jet fuel prices.
Air China posted a 2010 net profit of CNY12 billion ($1.83 billion) based on international accounting standards, more than double net income of CNY4.9 billion in 2009.
Air India has completed the double migration of Air India and Indian Airlines to SITA's Horizon Passenger Services System. "SITA successfully took the two separate airlines' IT platforms and completed this complex migration to the new PSS in a record 293 days.This included the successful transfer of more than half a million Passenger Name Records with 99.99% accuracy," SITA said. The migration is a key step toward merging the two airlines and is a requirement for Air India's entry into Star Alliance set for mid-year.
Toronto-based Porter Airlines confirmed options for two Bombardier Q400 NextGen aircraft to be delivered in December 2011 and April 2012. The order is valued at approximately $61 million.
Low-cost carrier AirAsia and Expedia announced the launch of a joint venture to sell "a complete range of value flights, hotels and holiday packages" in the Asia/Pacific region.
Lufthansa Group announced Tuesday that Board Member and Executive VP-Marketing and Sales Thierry Antinori will resign Thursday and “shall not be assuming the position as chairman and CEO of Austrian Airlines” as planned.
El Al Israel Airlines reported a 2010 net profit of $57.1 million, reversing a $76.3 million net loss in 2009, on a 19% rise in revenue to $1.97 billion.
China Southern Airlines reported 2010 net income of CNY5.8 billion ($883 million), fifteen times greater than the CNY381 million net profit earned in 2009.
Olympic Air and Cyprus Airways signed a wide-ranging cooperation accord aimed at “strengthening of the presence of the two airlines in the wider region of Southeastern Europe,” OS said in a statement. Under terms, the carriers’ codeshare began March 27 on flights from/to Athens, Rhodes, Heraklion and Thessaloniki to/from Larnaca and Paphos. From April 15, it will be expanded to cover most domestic and international destinations of OA and CY.
Cameroon Airlines Corp. announced that its new airline, Camair-Co, began operations Monday with an inaugural flight from its base in Douala via the country’s capital Yaounde to Paris Charles de Gaulle using a Boeing 767-300ER.
Japan Airlines on Monday completed its court-monitored bankruptcy restructuring under Japan's Corporate Rehabilitation Law, and also announced more flight reductions as it contends with a steep drop in demand in the aftermath of the March 11 earthquake and tsunami crisis that devastated the country.
The MA600, the AVIC-produced 60-seat turboprop, began formal flight operations over the weekend when the Civil Aviation Flight University of China put it into operation to replace a phased out Yun-7.
Hawaiian Holdings will offer $75 million aggregate principal amount of convertible senior notes due in 2016, it said, with UBS Investment Bank as sole book-running manager and Imperial Capital as co-manager. It also expects to grant underwriters of the notes an option for an additional $11.25 million aggregate principal amount to cover over-allotments. It intends to use a portion of proceeds to pay outstanding loans, and for general corporate purchases.
Lufthansa Group has no plans to buy or invest in additional airlines, Chairman and CEO Christoph Franz told LH's in-house employee magazine Lufthanseat. He said the company will focus on "organic" growth and on bringing subsidiaries Austrian Airlines and British Midland into a stable financial position ( ATW Daily News, March 21).
Air Berlin incurred a 2010 net loss of €97.2 million ($137.3 million), widened from a pro forma 2009 net loss (including Austrian LCC Niki and TUIfly city-to-city routes now operated by AB) of €21.9 million, marking its third consecutive loss-making year.
Lufthansa Systems CIO Jorg Liebe told ATW that Condor Airlines will launch its new wireless inflight entertainment system, BoardConnect, this summer aboard Boeing 767s with business class passengers utilizing "tablet-type" devices provided by the airline to access content and economy passengers given the option to access content via their own personal Wi-Fi equipped devices.
Malev CEO Martin Gauss resigned from his position Wednesday after failing to reach an agreement on his compensation. His resignation will be effective from May 31. Virgin America announced the appointment of Mark Bianchi as senior VP- technical operations. Bianchi is “an industry veteran with more than 27 years of hands on experience in air carrier operations, line and base maintenance, fleet management, regulatory compliance and quality assurance,” said VS.
The search for the wreckage of Air France Airbus A330-200, which crashed June 1, 2009 en route to Paris CDG from Rio de Janeiro killing all 228 people, resumed Monday ( ATW Daily News, Jan. 25).
The African Development Bank Board of Directors approved a $40 million second lien corporate loan to Ethiopian Airlines for the purchase of five Boeing 777-200LRs. The aircraft are part of ET's investment plan for 2010-2018 to replace older aircraft and expand capacity on long-haul routes to and from Africa.
Air Berlin announced an agreement with GE Capital Aviation Services for the financing of 12 new aircraft, comprising five Airbus A320s, three A321s and four Boeing 737-800s, all equipped with CFM engines. This sale-and-leaseback transaction, worth $1 billion at list prices, is covering deliveries due in the first three quarters of 2012, according to the carrier.
