Vietnamese LCC Vietjet nearly quadrupled its first-quarter 2018 net profit, and the carrier said it is comfortably ahead of financial targets for the year to date.
South Korea’s Asiana Airlines slipped to a net loss of KRW5.4 billion ($5 million) in the first quarter, although it also recorded its highest operating profit for three years.
International Airlines Group (IAG) posted a significantly higher operating profit in the first quarter and assured investors its full-year result will be better than last year despite rising fuel prices.
Chicago-based United Airlines and Frankfurt-based Lufthansa Cargo (LHC) launched a joint venture (JV), effective May 3. The JV agreement was signed April 20, 2017.
Air cargo operator Atlas Air Worldwide Holdings reported a $9.6 million net profit for the first quarter of 2018, reversed from a $752,000 net loss in 1Q 2017.
Air France-KLM warned its 2018 operating profit would be “notably below” 2017’s because of the financial impact of ongoing Air France strikes, currency fluctuations and a fuel bill that is €350 million ($419 million) higher than last year’s.
The board of Norwegian Air Shuttle (NAS) has rejected two offers for a full takeover by International Airlines Group (IAG) since the group made public its initial small investment.
Global air cargo demand fell to its lowest level in 22 months in March, as traffic measured in FTKs increased 1.7% compared to a year earlier, when March 2017 demand grew 14%, according to IATA’s latest Air Freight Market Analysis released May 2.
Central and Eastern European LCC Wizz Air CEO József Váradi has said that newly launched Wizz Air UK could be used as a vehicle to acquire assets from other airlines.
Central and Eastern European LCC Wizz Air has secured its UK air operator’s certificate (AOC) and operating license, paving the way for Wizz Air UK to launch flights on May 3.
Mexican ultra-LCC Volaris reported a MXP1.1 billion ($61.5 million) net loss for the first quarter of 2018, narrowed from a MXP1.3 billion net loss in 1Q 2017, as competitive low-cost fares in the country’s domestic market and increased industry capacity continued to inflict pressure on the Mexico City-based carrier.
Italy has formally pushed back the deadline for selecting a buyer for Alitalia by six months to Oct 31, with the repayment of a controversial government bridge loan that is keeping it flying now set for Dec. 15.
China’s major carriers—including Air China, China Southern, Hainan Airlines, Spring Airlines and Juneyao Airlines all reported 1Q net profit increases because of robust growth of market demand, yuan appreciation and capacity discipline. China Eastern was the only carrier that reported a profit decline.
Saudi Arabian hybrid carrier flynas again plans to increase its exposure to the long-haul sector, as it seeks to take advantage of growing numbers of religious travelers to the country.
Kuwaiti hybrid carrier Jazeera Airways has attributed an improvement in the traditionally weak 1Q figures to a combination of investments in improving passenger experience, a growing route network and higher asset utilization.
Russian authorities have extended the air operator’s certificate (AOC) for Saratov Airlines through May 30 after the carrier resolved issues found in a March inspection that grounded the Antonov An-148 fleet.
Ongoing fleet transition at SkyWest Inc. continues to drive income growth for the Utah-based parent of regional carriers SkyWest Airlines and ExpressJet Airlines.
