The Virgin Blue Group on Thursday launched its inaugural V Australia flight to Abu Dhabi, becoming the first Australian airline to operate to the Middle East in more than 20 years. Qantas has used the Middle East only as a refueling stop prior to the introduction of the Boeing 747-400 and no Australian airlines have ever used that region as a hub to Europe and Africa.
AerCap Holdings earned $207.6 million in 2010, up 25.7% over income of $165.2 million in 2009. The Amsterdam-based operating lessor's net income, excluding the impact of mark-to-market interest rate caps and share-based compensation, was $223.9 million, an increase of 49.1% compared to $150.2 million in 2009.
SkyWest Inc., parent of SkyWest Airlines and Atlantic Southeast Airlines (which now includes ExpressJet), last week reported 2010 net income of $96.4 million, up 15.2% over the $83.7 million profit earned in 2009. Full-year revenue lifted 6.1% to $2.77 billion while expenses rose 6.7% to $2.56 billion, producing operating income of $201.8 million, down 4.9% from an operating profit of $212.2 million in 2009.
Shanghai-based Spring Airlines, China's most profitable LCC, said it will launch a new four-times-weekly charter Airbus A320 Shanghai-Takamatsu service, part of a planned expansion in the Japanese market over the next few years.
Malaysia Airlines on Friday reported 2010 net income of MYR237.3 million ($77.6 million), down 54.6% from a MYR522.9 million profit in 2009 that benefited from a MYR1.16 billion derivative gain.
Wings Air, a subsidiary of Indonesia’s Lion Air, firmed up options for 15 ATR 72-500s. Wings signed a contract with ATR at the 2009 Dubai Air Show for 15 72-500s plus 15 options; it now has 30 of the type on firm order with 10 already in operation.
International Airlines Group, formed by the merger of British Airways and Iberia last month, reported a pro-forma net profit of €90 million ($124 million) in the quarter ended Dec. 31, 2010, reversed from a €130 million deficit in the year-ago period, as revenue and yields strongly increased on limited capacity growth.
EgyptAir on Thursday told ATW it is preparing for the release of a “limited modification” to its summer schedule and that the revised schedule “will feature a gradual growth in volume of operations over the summer season reaching normal volume towards the end of the season.”
ANA Group on Thursday outlined its "corporate strategy" going forward, projecting operating income of ¥130 billion ($1.57 billion) for its fiscal year ending April 1, 2013, up 18% over a forecast of ¥110 million for the year just preceding and nearly doubling the forecasted ¥70 billion operating profit for the current fiscal year which ends March 31. ANA said net income will rise from ¥6 billion for FY2010 to ¥53 billion two years later. Total operating revenue is projected to rise 14% from ¥1.38 trillion to ¥1.57 trillion between the periods.
Air New Zealand posted a 75% year-over-year improvement in net profit to NZ$98 million ($55.9 million) for the six months ended Dec. 31, 2010, on a 9% increase in revenue to NZ$2.23 billion.
Southwest Airlines on Thursday took two steps toward completing its planned acquisition of Orlando-based AirTran Airways, receiving approval from US FAA on a plan to merge the two carriers' under a Single Operating Certificate and reaching agreement with the Southwest Airline Pilots Assn. on "a procedural framework" for eventually integrating the two pilot workgroups. SWA said the SWAPA board "unanimously agreed" to the accord.
Driven by record after-tax earnings of MYR1.07 billion at AirAsia Berhad (Malaysia), the AirAsia Group posted a stunning MYR1.52 billion ($500.1 million) net profit in 2010, well more than double MYR359.5 million in net income earned in 2009.
Regional Express Holdings of Australia reported a 5.4% decline in pre-tax profit for the fiscal first half ended Dec. 31, 2010 to A$12.2 million ($12.2 million) from A$12.9 million in the year-ago period. Revenue increased 2.9% to A$121.2 million and expenses lifted 3.9% to A$109 million. The largest increase at 4.9% was fuel, which cost A$16 million for the period. Passenger numbers dipped 1.4% to 632,777 while ASKs increased 4% to 389 million, with load factor easing 1.9 points to 61.2%.
FedEx Corp. said that its FedEx Express business unit completed the previously-announced acquisition of the logistics, distribution and express businesses of AFL and its affiliate Unifreight India ( ATW Daily News, Nov. 4, 2010). Purchase price was not disclosed.
Royal Jordanian reported consolidated net income of JOD9.6 million ($13.4 million) for 2010, down 66% compared to income of JOD28.6 million in 2009. RJ Board Chair Nasser Lozi said that a 35% increase in the airline's fuel bill was a major contributor to the profit decline. Operating revenues climbed 14% to JOD685 million.
Republic Airways Holdings, parent of Frontier Airlines, Lynx Aviation, Chautauqua Airlines, Republic Airlines and Shuttle America, posted a 2010 net loss of $13.8 million, reversed from a $39.7 million profit in 2009. Chairman, President and CEO Bryan Bedfordtold industry analysts and media that, "Without a doubt, 2010 was a year of transformation for Republic Airways, and the entire Republic family." He noted that weather over the past few months has made for a difficult operating environment.
Vueling Airlines posted net profit of €46 million ($62.7 million) for 2010, a 66% increase on the €27.8 million it earned in 2009 following its merger with Clickair.
Virgin Blue Holdings reported a net profit of A$23.8 million for the fiscal first half ended Dec. 31, 2010, down 62% from A$62.5 million in the year-ago period as a series of one-time events ravaged the bottom line.
GOL's 2010 net income of BRL214.2 million ($128.6 million) was down 76% from a 2009 profit of BRL890.8 million, a dip attributable in part to higher fuel costs, interest expenses and tax payments, the airline said Wednesday.
All Nippon Airways filed an application Wednesday with the Japanese Ministry of Land, Infrastructure and Tourism for antitrust immunity to launch a joint venture with Lufthansa on routes between Japan and Europe.
