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.
More bags are being checked in, but mishandled rates are remaining stable, showing the impact of improved bag-tracking throughout the passenger journey.
Industry CEOs and leaders spoke about the importance of people, sustainability and connecting the world at the 45th ATW Airline Industry Achievement Awards.
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.
Southern Airways Corp., parent of Mississippi-based commuter Southern Airways Express and Hawaii-based commuter Mokulele Airlines, has announced a strategic minority investment by SkyWest Inc., parent of Utah-based regional SkyWest Airlines.
China’s Hainan Airlines has incurred CNY3.6 billion ($523 million) loss for 2018, reversed from a net profit of CNY3.3 billion in 2017, ending its profit-making run.
United Airlines has not leveraged collateral in Avianca Holdings that could see it take control of the Colombian carrier following loan-covenant violations by majority shareholder BRW Aviation, which put up its ownership stake to guarantee a loan from the Chicago-based carrier.
An April 30 deadline for the presentation of a new business plan to rescue Alitalia looked set to be extended after Italian railway company Ferrovie dello Stato (FS), which is expected to lead the relaunch, said it had discussed the possibility of an extension at a board meeting.
Lufthansa subsidiary Austrian Airlines reported a 2019 first-quarter net loss of €99 million ($111 million), widened from a €73 million loss in the year-ago quarter.
Boeing chairman, president and CEO Dennis Muilenburg appears likely to keep all those titles after company shareholders opted April 29 not to make the chairmanship an independent position.
Italy’s deputy prime minister Luigi Di Maio said more private investors are making offers for Alitalia and would play a role in the bankrupt airline’s relaunch.
Japan Airlines (JAL) achieved healthy growth in net profits for its fiscal year through March 31, although it is projected to decline in the current fiscal year.
UK regional carrier Eastern Airways declined to comment on its future in light of the financial problems facing its parent company, US-based Bristow Group.
