Icelandair posted a first-quarter net loss of $55 million, widened from a $35 million net loss in the year-ago quarter as pressure on airfares, higher costs and Boeing 737 MAX grounding created uncertainty.
Dutch pension investor PGGM Infrastructure Fund has agreed to take a 25% stake in aircraft lessor Macquarie AirFinance, with further funds available to support future growth.
China LCC Spring Airlines reported a 2019 first-quarter net profit of CNY474.5 million ($69 million), up 23.1% compared to CNY385.5 million in the year-ago quarter.
Asiana Airlines is taking steps to improve its financial health by cutting unprofitable routes and retiring older aircraft while increasing its maintenance investment.
Virgin Australia has revealed a restructuring of senior management positions that has resulted in the departure of the carrier’s second-in-command Rob Sharp.
The China Southern Airlines’ subsidiary to be based at Beijing Daxing International Airport—Xiongan Airlines—has completed preparations to begin operations and has applied for a license for public air transportation.
China’s Juneyao Airlines saw its first-quarter 2019 profits slide 7.5% year-over-year (YOY) to CNY400.4 million ($59.6 million), as operating costs continue to increase.
Vietnam’s Vietjet Air’s first-quarter earnings report shows strong momentum in revenue and profit growth, as the airline continues its international expansion.
Italy’s government said railway company Ferrovie dello Stato (FS) now has until June 15 to present a plan for the relaunch of bankrupt airline Alitalia, in the latest deadline extension in a long-running rescue process.
Air France-KLM reported a first-quarter net loss of €320 million ($358 million), widened from a €269 loss in the 2018 quarter, and the group’s CEO said investors will receive a strategy update later this year.
The deadline for presenting a new industrial plan for Alitalia will be extended until late May, a senior airline executive said this week, explaining there was “still one investor missing” from the consortium looking to rescue the Italian flagship carrier.
Atlas Air Worldwide Holdings (AAW) posted a 2019 first-quarter adjusted net income of $27.3 million, a 15% increase year-over-year. Volumes increased 16% to 77,061 block hours, while revenue grew 15% to $679.7 million.
China Eastern Airlines posted a 2019 first-quarter net income of CNY2 billion ($298 million), a 1.2% increase from CNY1.9 billion in the year-ago quarter.
Industry CEOs and leaders spoke about the importance of people, sustainability and connecting the world at the 45th ATW Airline Industry Achievement Awards.
More bags are being checked in, but mishandled rates are remaining stable, showing the impact of improved bag-tracking throughout the passenger journey.
Lufthansa on April 30 decided to stop any planned growth of its low-fare brand Eurowings as that unit’s financial performance continued to deteriorate in the first quarter.
