Southwest Airlines reported third-quarter 2018 net income of $615 million, a 16.5% increase from a $528 million net profit in the same period last year.
International Airlines Group (IAG) weathered the effects of rising fuel prices and unfavorable currency movements to record a net profit before exceptional items of €1.14 billion ($1.29 billion) for the third quarter (3Q), nearly the same as the year-ago restated figure.
International Airlines Group has revealed that the data breach of its British Airways (BA) customer database in September 2018 affected more customers than previously believed.
Alaska Air Group—parent of Alaska Airlines and Horizon Air— experienced a drop in net income for the third quarter in a row, as the company struggled to generate enough revenues to offset higher fuel costs.
South African Airways (SAA) is in line for another government bailout as part of a restructuring initiative aimed at restoring profitability by 2020-21. More cash is also in the works for regional carrier SA Express.
Finnair has been forced to downgrade its full-year outlook after the airline’s third-quarter net profit fell 13.9% to €80.5 million ($91.9 million), driven by exceptional weather conditions, a shortage of spare engines, stiff intra-European competition and higher fuel costs.
Fort Lauderdale-based ultra-LCC Spirit Airlines reported a 2018 third-quarter net profit of $97.5 million, up 38% from the $60.2 million reported in the same period last year, offsetting higher costs for jet fuel and personnel.
Qantas is confident it can largely recover fuel price increases thanks to strong passenger revenue trends, favorable economic conditions and healthy forward bookings.
Long-haul LCC Norwegian Air Shuttle warned that high oil prices and a strong dollar would affect the entire aviation industry as it reported a third-quarter net profit of NOK1.3 billion ($156 million), up 18% compared to NOK1.1 billion in the year-ago quarter.
Leisure operator Small Planet Airlines announced that its Lithuanian business—Small Planet Airlines UAB—has filed for restructuring under Lithuanian law, as a knock-on effect of debts at its German and Polish airlines that both hit financial difficulties this fall.
New York-based LCC JetBlue Airways, reacting to a 37% year-over-year (YOY) increase in fuel prices, doubled down on its plan to “improve our earnings, particularly in the areas we can control,” CEO Robin Hayes said in a third-quarter earnings call Oct. 23.
British Airways (BA) will make a multimillion-pound investment in staff training at its London Heathrow Airport hub, 10 months after a light snowfall there brought chaos to its services.
Final airline financial data from 2Q indicate a drop in airline profitability compared to the year-earlier period. And while industry-wide cash flows have improved this year overall, there are significant differences between regions, according to IATA’s latest Airline Financial Monitor, released Oct. 17.
Qatar Airways Group CEO Akbar Al Baker told members of the media Oct. 18 in New York that its oneworld membership is in question and the Doha-based carrier could leave the alliance in 2019.
Austria-based Ryanair subsidiary LaudaMotion will close two crew bases in Austria as part of a cost-cutting program, an airline spokesperson confirmed to ATW.
Ultra-LCC Volaris expects to operate a fleet of 82 Airbus A320ceo/A321neo-family aircraft next year. It now operates out of Costa Rica as well as Mexico. But it has also had to adapt to the changing US-Mexico political environment.
Singapore’s sovereign wealth fund, GIC, has taken a significant minority stake in Denmark-based regional aircraft lessor Nordic Aviation Capital (NAC).
The UK Competition and Markets Authority (CMA) will probe Irish regional airline CityJet’s plans to place aircraft on long-term wet-lease with International Airlines Group (IAG) Irish carrier Aer Lingus.
Ryanair’s first-half profit fell 7%, hit by lower fares, air traffic control strikes and higher fuel, staff and passenger compensation costs which offset growth in ancillary revenues.
Connectivity companies and airlines are finally delivering onboard Wi-Fi services that compare to those on the ground. The key players in the are now maneuvering to get pole positions in the market.
