Virgin Blue Holdings said it expects its first-half net profit to be down more than 50% owing to the Queensland floods, a slowdown in consumer spending and disruptions to the airline's check-in system last September.
US Airways posted net income of $502 million in 2010, reversed from a net loss of $205 million in 2009 and the second highest annual profit in its history. For the first time since 2006, it achieved a profitable fourth quarter, earning $28 million, turned around from a $79 million deficit in the prior-year period.
Korean Air reported a 2010 net profit of KRW468.4 billion ($418.6 million), reversed from a net loss of KRW98.9 billion in 2009, marking its first profitable year since 2007.
United Continental Holdings, parent of merger partners United Airlines and Continental Airlines, reported pro forma 2010 net income of $854 million, reversed from a combined UA/CO loss of $718 million in 2009.
The Boeing Company said it expects to deliver 25 to 40 787s and 747-8s this year, roughly equally split between the two types, as it reported that earnings for the 2010 fourth quarter dipped 8%, to $1.16 billion from $1.27 billion in the year-ago period on fewer transport deliveries and higher pension expense.
Aircraft leasing group Avolon announced it raised $465 million in its third capital raising, bringing its total funds raised since May 2010 to more than $2.5 billion for debt finance. Proceeds will be used to support the continued growth of the fleet, which includes more than 60 committed aircraft valued at more than $2.8 billion. "This debt raising is an important step in broadening our lender base, introducing three new, US-based lenders to Avolon," CFO Andy Cronin said.
Chile's LAN Airlines posted 2010 net income of $419.7 million, up 81.6% over earnings of $231.1 million in the year-ago period, crediting the improvement to "strong recovery and growth in both the cargo and passenger businesses."
Airbus announced that Thomas Cook Group ordered 12 CFM56-5B-powered Airbus A321s as a first step in its single-aisle fleet harmonization and renewal plan, which is based on the A320 family.
Alaska Air Group, parent of Alaska Airlines and Horizon Air, reported 2010 net income of $251.1 million, its highest single-year profit ever and more than double the $121.6 million earned in 2009.
American Airlines and Sabre Travel Network called a truce, putting their litigation on hold until June 1. The companies said they will “begin work shortly in an effort to reach a new agreement.” In addition, they will “return to operating as they were prior to Jan. 5.” On Jan. 5, Sabre began biasing American’s displays in the U.S. and most of the rest of the world (it was prohibited from doing so in Canada and the European Union).
News from Travel Technology Update: American Airlines and Sabre Travel Network called a truce, putting their litigation on hold until June 1. The companies said they will “begin work shortly in an effort to reach a new agreement.” In addition, they will “return to operating as they were prior to Jan. 5.” On Jan. 5, Sabre began biasing American’s displays in the U.S. and most of the rest of the world (it was prohibited from doing so in Canada and the European Union).
Financially beleaguered Adria Airways said it successfully concluded negotiations to acquire much-needed liquidity ( ATW Daily News, Jan. 11). According to a statement from the state-owned airline, "the funds represent the basis for a serious and fundamental restructuring of the company." Adria acquired the cash injection by selling ordinary shares in Adria Airways Tehnika to PDP. It is expected that a similar agreement will soon follow with Aerodrom Ljubljana.
Airbus announced that GE Capital Aviation Services ordered 12 additional long-range A330-300 aircraft. GECAS said the new commitment brings the total number of A330s ordered by GECAS to 32.
Air France on Monday “acknowledged” 35 recommendations to improve flight safety outlined by the Independent Safety Review Team launched in the aftermath of the 2009 Airbus A330-200 crash in the Atlantic Ocean that killed 228, and said most of them will be “rapidly implemented.”
Includes: World Airline Traffic World Airport Traffic IATA Fuel Prices Aircraft Data Aircraft Values Aircraft Deliveries US Major and National Airline Traffic US Ontime Performance U.S. Fuel Cost and Consumption US Mishandled Baggage US Consumer Complaints
Copa Airlines will in June begin four-times-weekly service from Panama City to Toronto Pearson, Porto Alegre in Brazil and Nassau, at the same time increasing daily frequencies to "several countries" in its route network from its Panama hub. "Copa Airlines continues to expand its coverage and reaffirm its leadership in Latin America and the Caribbean," Copa CEO Pedro Heilbron said. "Copa offers flights to more international destinations than any other airline from any other hub in the region."
International Lease Finance Corp. in the fourth quarter 2010 entered into 56 aircraft leases, bringing the year's total to 259 lease commitments. The lessor placed 29 Airbus aircraft (15 A319s, six A320s, four A321s, three A330s and one A340) and 35 Boeing aircraft (25 737s, two 757s, one 767, one 777 and six 787s) with 26 customers in 18 countries during the quarter.
Low-cost carriers are eating Qantas’s lunch, taking 19.5% of the international traffic into and out of Australia and—for the first time—equaling the national airline’s market share.
