Finnair posted a €38.8 million ($43.6 million) net loss for the first quarter (1Q), marking a sharp decline from the record €13.4 million net profit it delivered in 1Q 2018, partly driven by excess capacity from the airline’s incoming Airbus A350 fleet.
Boeing has posted its 2019 first-quarter results, which indicate the initial financial impact of the 737 MAX crashes and groundings as well as acknowledging continued uncertainty about the full cost.
Collins Aerospace expects up to $0.10 of “headwind” on its earnings per share this year because of the Boeing 737 production slowdown and MAX groundings.
Hawaiian Airlines reported a net income increase of 27% to $36.4 million in the first quarter compared to $28.5 million in the year-ago period, despite slightly lower operating revenue.
New York-based JetBlue Airways posted a 2019 Q1 net income of $42 million, down 54% from the $90 million posted a year ago, but operating revenue was up 6.7% to $1.9 billion. The company, posting its first-quarter results April 23, said it was confident of seeing a unit-revenue "acceleration" into the fall.
In an ongoing battle to gain control of Hong Kong Airlines, four of its board members have been served with a court order preventing them from making business related-decisions on the airline.
Chinese LCC Spring Airlines overcame higher fuel costs and a weakened currency to post a 2018 net profit of CNY1.5 billion ($218.1 million), up 19.1% from CNY1.26 billion in 2017.
United Airlines has done well compensating for the absence of its 14 Boeing 737 MAX aircraft by adjusting its network and maintenance schedules, but the gaps created will become harder to fill as the peak summer season approaches, the airline’s executives say.
Hong Kong Airlines said it had to hire external security personnel and lawyers because of an unfolding spat between shareholders, but insisted it was business as usual for customers.
United Airlines doubled its profit in the first quarter, reporting net income of $292 million, up from $145 million in the year-ago quarter, capping out the best first quarter for the Chicago-based carrier in three years.
UK long-haul operator Virgin Atlantic is planning to use its acquisition of UK regional Flybe and closer ties with new shareholder Air France-KLM to become a more comprehensive competitor to UK incumbent British Airways (BA).
Avianca Brazil has been forced to make more flight cancellations after lessor Aircastle reclaimed all 10 of its Airbus A320-200s on lease to the carrier, cutting the insolvent operator's fleet by 30%.
Icelandair is wet-leasing Boeing 767s and acquiring a Boeing 757 on a temporary basis to compensate for its 737 MAX 8s affected by the global grounding.
Asiana Airlines’ largest stakeholder, Kumho Industrial, has decided to sell its entire stake in the South Korean airline as it seeks to improve its liquidity and appease creditors.
Alitalia unions said they were ready to take action to protest the delay in presenting a new business strategy for Alitalia even as the Italian government said there would be good news soon about the airline.
Southwest Airlines has revamped its schedule through Aug. 5 to account for not having its 34 Boeing 737 MAXs as the model’s grounding continues to keep operators shuffling their schedules and fleet plans.
