Boeing said international air cargo traffic has "rebounded sharply" in 2010 following "a calamitous 18-month decline that began in May 2008" and will grow at an annual average rate of 5.9% through 2029.
Alitalia posted a €39 million ($54.4 million) net profit for the third quarter, significantly widened from the €1 million profit in the year-ago period. EBIT rose year-on-year from €15 million to €56 million and revenue increased 15% to €971 million.
Troubled state-owned Adria Airways has received financial help from various agencies to help it pay back credits, according to Slovenia media outlets. Reports state ADR has been given €2 million ($2.8 million) from state-owned restructuring company RDP and €500,000 from tourism companies Kompas and Palma. The Slovenia government also gave an additional €2.7 million in aid to Adria Airways Technika, as well as to the Ljubljana airport, and gave €4.5 million to the maintenance facility at AAT.
Boeing projected that 2011 full-year global passenger traffic will grow slightly below its 20-year forecast rate of 5.3% annually, rising 5% year-over-year. In a recent blog post, Commercial Airplanes VP-Marketing Randy Tinseth said the manufacturer foresees cargo growth of 6% in 2011. Boeing in July predicted average annual growth rates of 5.3% for passengers and 5.9% for cargo through 2029 ( ATW Daily News, July 16).
Atlas Air Worldwide Holdings, parent of Atlas Air and Polar Air Cargo, posted third-quarter net income of $34 million, well more than double a $14.1 million profit in the year-ago period.
Buoyed by a 32% rise in second-quarter earnings, Ryanair reported a net profit of €424 million ($591.2 million) for the fiscal first half ended Sept. 30, up from earnings of €373.5 million in the year-ago period.
China Eastern Airlines said that its wholly owned subsidiary Shanghai Airlines has withdrawn from the Star Alliance to join SkyTeam along with CEA next year.
Emirates looks to have quickly put the global economic downturn behind it, reporting a net profit of AED3.4 billion ($926 million) for its fiscal year first half ended Sept. 30, significantly widened from an AED752 million profit in the year-ago period.
Emirates looks to have quickly put the global economic downturn behind it, reporting a net profit of AED3.4 billion ($926 million) for its fiscal year first half ended Sept. 30, significantly widened from an AED752 million profit in the year-ago period.
UK Department for Transport appointed Iain Osborne to the post of CAA group director-regulatory policy. He will assume the role Jan. 10, 2011, replacing Harry Bush, who will step down at the end of this year. Additionally, Richard Moriarty was named CAA's director-economic regulation. American Airlines named Peter Stanham MD-finance for Mexico, the Caribbean and Latin America. It additionally named Marvin Diaz MD-Mexico.
The Austrian government revealed more details on its so-called "ecological air travel levy," which will begin March 30, 2011 for all departing flights ( ATW Daily News, Oct. 26).
Middle East airlines will not launch an initial public offering this year or early next year but will start returning a dividend of $1 per outstanding share, MEA Chairman and DG Mohamad El- Hout told ATW on the sidelines of the Arab Air Carriers Organization’s recent 43rd AGM in Cairo.
Air China reported a net profit of CNY5.17 billion ($772 million) in the third quarter, a better than fourfold increase over the CNY885 million earned in the year-ago period. The carrier credited the strong performance to "implementation of effective operating management, marketing and cost control initiatives," the global recovery and rapid economic growth in China. Operating revenue jumped 76.7% to CNY24.83 billion, while operating expenses climbed 44% to CNY 19.42 billion.
ANA Group reported net income of ¥18.5 billion ($221 million) in its fiscal second quarter ended Sept. 30, improved over earnings of ¥3.8 billion in the year-ago period.
Iberia Group swung out of the red with a third-quarter consolidated net profit of €74 million ($102.6 million), compared to a €16 million deficit in the year-ago period, on a 15.8% increase in revenues to €1.35 billion.
British Airways said the "steady recovery continues" as it reported a net profit of £116 million ($184.2 million) in the first half ended Sept. 30, reversed from a £208 million deficit in the year-ago period. Revenue lifted 8.4% to £4.45 billion.
Cargolux Airlines International President and CEO Ulrich Ogiermann and Senior VP-Sales and Marketing Robert Van de Weg were indicted Thursday in US District Court in Miami on charges of conspiring to fix and coordinate certain surcharge rates on air cargo shipments to and from the US and for agreeing not to pay commissions on those surcharges, the US Justice Dept. said.
Spirit Airlines, the Fort Lauderdale-based LCC, will launch service to five new cities and add 11 nonstop routes next year. New destinations are Plattsburgh, and Niagara Falls, N.Y; Latrobe, PA.; Charleston, W.V.; and Dallas/Fort Worth.
While nearly all US airlines saw their earnings rise in the third quarter, Allegiant Air parent Allegiant Travel Co. reported net income fell 4.5% to $13.2 million from $13.8 million in the year-ago quarter. The carrier cited the "effects of the slowdown in the general economy," for the lower result.
China Eastern reported net income of CNY3.15 billion ($470 million) in the third quarter, significantly widened from CNY23.16 million earned in the year-ago period. The carrier cited “the synergy effect achieved through [its] merger with Shanghai Airlines” and “robust growth of the domestic market demand, especially stimulated by the Shanghai World Expo” as reasons for the much-improved performance.
LAN Airlines, which is in the midst of combining with TAM of Brazil under a holding company structure, is spreading its wings further northward with an agreement to acquire 98.94% of Colombia's Aires for $32.5 million.
Signaling that Europe's heretofore lagging recovery is gaining momentum, Lufthansa Group confirmed Thursday it netted €628 million ($866.3 million) in the third quarter ended Sept. 30, tripling a net profit of €209 million in the prior-year period, as revenue surged 27.5% to €7.57 billion.
Finnair broke a streak of seven consecutive quarters in the red by posting third-quarter net income of €32.4 million ($44.7 million), reversed from a loss of €18.1 million in the year-ago period. Revenue lifted 26.2% year-over-year to €551.4 million.
