Korean Air reported third-quarter net income of KRW583.8 billion ($521 million), more than double a KRW264 billion profit in the year-ago period, attributing the earnings increase to "substantial growth in international passenger traffic and surging demand for cargo traffic."
China Southern Airlines announced Wednesday that it earned CNY3.04 billion ($457 million) in the third quarter, an almost tenfold increase over CNY284 million in net income in the year-ago quarter.
Lufthansa Group reported a net profit of €524 million ($728.8 million) for the first nine months of the year, significantly widened from €31 million earned in the year-ago period, and implying a third quarter profit of €628 million based on a previously-reported six-month net loss of €104 million (ATW Daily News, July 30).
Korean Air reported third-quarter net income of KRW583.8 billion ($521 million), more than double a KRW264 billion profit in the year-ago period, attributing the earnings increase to "substantial growth in international passenger traffic and surging demand for cargo traffic."
Estonian Air carried 57,398 in September, up 12.3% year-over-year. Hawaiian Airlines operated 701.1 million RPMs in September, up 8.3% on the year-ago month. Capacity climbed 5.9% to 818.2 million ASMs and load factor increased 1.9 points to 85.7%. Iberia operated 4.48 billion RPKs in September, a 10.1% increase over the year-ago month. Capacity grew 4.3% to 5.38 billion ASKs, lifting load factor 4.4 points to 83.4%.
Pemco World Air Services launched a 757-200 Combi conversion program with an order for four from National Airlines. The initial Combi configuration developed for National Airlines has 10 pallet positions in a Class C cargo compartment, pax compartment, two full galleys, and accommodations for multiple supernumerary personnel, a payload of approximately 36 tons and a range comparable to the passenger version, Pemco said.
Japan Airlines Chairman Kazuo Inamori announced at a Foreign Correspondents’ Club of Japan news conference he had reservations about delving into discount airline operations, signaling his intention to focus on high-quality service instead of expanding into the low-cost carrier business, according to Nikkei.com.
Philippines-based Cebu Pacific announced Tuesday that it completed one of the country’s largest initial public offerings, raising PHP23.3 billion ($539 million) prior to exercise of an overallotment option. The airline also claimed it was the “largest international low-cost carrier IPO offered globally to date.”
Delta Air Lines for the first time publicly addressed whether it will retain 18 787-8 firm orders placed in 2005 by Northwest Airlines, stating in a regulatory filing this week that it has entered into an agreement with Boeing "to reaffirm" the orders but has deferred delivery to 2020-2022.
Morten Beyer, who launched the Avmark aviation consulting firm, died Oct. 21 from complications of pneumonia. He was 88. In an aviation career spanning 65 years, Beyer served in senior management positions with such carriers as Pan Am (where he began his career in 1943), Saudi Arabian Airlines, and Capital Airlines, and as president of several others including Modern Air, Capital International, Phoenix Airlines, and Evergreen Airlines.
Gulf Air claims it will conclude before year end its negotiations with Boeing and Airbus on changes to its orders for 24 787s and 20 A330s, respectively, and decide on a new order for up to 10 RJs, CEO Samer Majali told ATW on the sidelines of the Arab Air Carriers Organization’s 43rd AGM in Cairo last week.
British Airways firmed up options for another two E-190 jets, increasing its E-Jets firm orders to 13, comprising six E-170s and seven E-190s. The aircraft will be operated by its London City-based subsidiary BA CityFlyer. “We are delighted to announce the conversion of these two options, which will increase our fleet size by almost 20% at London City airport,” said BA CityFlyer MD Peter Simpson. “Customer feedback on the new fleet has been fantastic, particularly with the additional space and two-by-two seating.”
AerCap Holdings reached an agreement to sell a 20% stake in itself to Abu Dhabi-based Waha Capital, a diversified investment holding company, for approximately $380 million.
The Austrian government announced it will create a so-called "ecological air travel levy" similar to the tax introduced in Germany last month (ATW Daily News, Sept. 2).
Royal Jordanian posted a JOD19.6 million ($27.9 million) profit before the provision of a JOD6 million loss on the sale of fixed assets for the first nine months, down 23.1% from JD25.5 million in the year-ago period.
Copa Holdings, parent of Copa Airlines and Copa Airlines Colombia (formerly Aero Republica), flew 652.4 million consolidated RPMs in September, 8.6% growth over the year-ago month. Capacity increased 16.1% to 926.1 million ASMs while load factor fell 4.9 points to 70.5%. ExpressJet Airlines flew 737 million RPMs in September, up 20% year-over-year. Capacity climbed 16% to 939 million ASMs, lifting load factor 2.2 points to 78.5%.
Embraer announced Friday it has signed a contract with Fuji Dream Airlines of Japan for an E-175, which will have a single-class configuration with 84 seats. The order also includes an option for one additional aircraft. This deal is already included in Embraer’s firm order backlog for the third quarter of 2010, as being from an undisclosed customer. Value of the transaction was not supplied.
All Nippon Airways and Japan Airlines have both secured regulatory approval from the Japanese Ministry of Land, Infrastructure, Transportation and Tourism for their respective transpacific joint ventures with Continental Airlines and United Airlines, on one hand, and American Airlines on the other.
AirTran Airways parent AirTran Holdings reported third-quarter net income of $36.3 million, more than triple the $10.4 million profit it earned in the year-ago period, and also announced last week that it reached a tentative agreement with its 1,700 pilots on a new labor contract.
Alaska Airlines and Horizon Air parent Alaska Air Group reported record third-quarter net income of $122.4 million, up 39.7% from $87.6 million in the year-ago quarter. Chairman and CEO Bill Ayer said this quarter’s results represented the “best adjusted quarterly profit in our history” and were driven by “increased traffic, stable yields and good cost management through improved productivity and lower overhead.”
Air Arabia on Friday will take delivery of its first new Airbus A320 out of an order for 44 A320 family aircraft announced in 2007, Air Arabia Group CEO Adel Ali confirmed to ATW on the sidelines of the AACO AGM is Cairo this week. The CFM56-5B-powered A320 will be deployed at its main base at Sharjah International and support "exciting" expansion foreseen in its winter schedule. A second A320 is scheduled for delivery in December and a further five will arrive in 2011. Deliveries continue through 2015.
