Air Lease Corp. (ALC) increased net income 14% to $115.2 million in the second quarter as revenues increased 4.4% to $397.8 million, largely on the strength of a higher net-book fleet value.
Low-cost, long-haul carrier Norwegian Air Shuttle is operating a single Airbus A380 from Portuguese wet-lease specialist Hi Fly through Aug. 23 on its London Gatwick-New York JFK services to fill in for temporarily out-of-service Boeing 787s as they undergo Rolls-Royce Trent 1000 engine inspections.
Chorus Aviation increased its second-quarter adjusted net income 9%, thanks largely to its growing aircraft leasing business, but unfavorable currency exchange rates helped dragged down the company’s year-over-year (YOY) 2Q net income down 61%.
The Italian government is considering involving national railway company Ferrovie dello Stato and public investment bank Cassa Depositi e Prestiti in plans to keep the bankrupt Alitalia in Italian hands, local media has reported.
The predicted slowdown of the global air freight market became a clear trend in June, as year-over-year (YOY) growth in the total air cargo market slowed to 2.7%, about half the five-year average growth rate (5.1%), according to IATA’s June Air Freight Market Analysis.
As the Canadian ULCC market heats up, Air Canada said it is prepared to leverage the significant flexibility of its rouge subsidiary to ward off competition, from adding flights in major domestic markets to re-configuring aircraft to match rivals’ all-economy offerings.
Chicago-based United Airlines, Colombia’s Avianca and Panamanian flag carrier Copa Airlines may form a three-way joint business agreement, according to statements released by the two Latin American airlines’ holding companies Aug. 8.
Stamford, Connecticut-based Aircastle continues to struggle to place more of its Embraer E190-E2-series aircraft slated to begin arriving next year; however, the lessor is confident the Boeing-Embraer tie-up and the aircraft’s recent entry into service will help entice new customers.
Japanese financier ORIX is set to acquire 30% of Irish lessor Avolon from China’s Bohai Capital for $2.2 billion, with completion expected in the fourth quarter of 2018.
The central African nation of Chad will launch its new national airline Oct. 1 after documents setting it up were signed by the nation’s government and Ethiopian Airlines.
Cathay Pacific Airways reported a 2018 first-half net loss of HK$263 million ($33.5 million), narrowed from a net loss of HK$2.1 billion in the year-ago half as the Hong Kong-based carrier’s multi-year recovery and restructuring effort remains on track.
Commercial aircraft lessor Aircastle has posted an adjusted net income of $52.4 million in the 2018 second quarter, swinging to profit one year after recording a quarterly loss of $7.1 million, the company reported Aug. 7.
International Airlines Group (IAG) CEO Willie Walsh has said the group has no plans to retain its shares in Norwegian, should it fail to acquire the LCC.
Ethiopian Airlines and freight specialist DHL Global Forwarding have agreed to establish a new Ethiopia-based joint-venture (JV) company, with the aim of creating the leading cargo logistics JV in Africa.
Air France-KLM and fellow SkyTeam member Air Europa intend to extend their existing codeshare into a joint venture (JV), covering flights between Europe and Central and South America.
Alitalia said its strategy of investing in improving passengers’ digital experience was paying off, with a double-digit increase in digital revenues in the first half of the year, even as uncertainty reigned over the carrier’s future.
Omani national carrier Oman Air said its upgraded cargo hub facility at the new Muscat International Air Cargo Terminal is already seeing a significant uptick in business.
Cargo operator Atlas Air Worldwide (AAW), continuing to reap benefits from strong demand across its businesses, increased adjusted net income 71% year-over-year (YOY) in the second quarter and has raised its full-year revenue and profit forecasts.
São Paulo-based LCC GOL reported a BRL1.3 billion ($329.1 million) second-quarter 2018 net loss, deepened from a BRL409.5 million net loss a year ago, largely attributable to a steep 16% drop in the monetary exchange rate between the Brazilian real and the US dollar during the three-month period ended June 30.
International Airline Group—parent company of British Airways, Iberia, Aer Lingus, Vueling and Level—reported strong half-year profits Aug. 3, despite the dual headwinds of rising fuel prices and continuing strikes by French air traffic controllers.
Substantial marketing efforts led to Royal Jordanian more than halving its losses for 1H 2018 compared to the same period a year earlier, the airline said.
