Airlines & Lessors

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.

British Airways CFO Steve Gunning will become group CFO, replacing Enrique Dupuy de Lome who is stepping down in June.

Russia’s Arkhangelsk Region and the Nenets Autonomous Okrug (NAO) will launch a new Arctic airline to perform regional and international flights.

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.

China’s Juneyao Airlines reported a 2018 net profit of CNY1.2 billion ($174.5 million), down 7.7% from CNY1.3 billion in 2017.

Delta Air Lines reported its 2018 first-quarter net income jumped 31% to $730 million from $557 million in the year-ago quarter.

New SriLankan Airlines CEO Vipula Gunatilleka is hoping to reach breakeven within three years by renegotiating aircraft leases, substituting the airline’s Airbus A350 order for A330-900neos, growing the network, and reopening destinations.

India’s Jet Airways continues to cancel all international flights for the near-term at least, as more aircraft are grounded for missing lease payments.

People-April 11, 2019

Air Caraïbes reported a 2018 net profit of €10.4 million ($11.9 million), down 13% from €12 million in the previous year.

Potential bidders have emerged for a strategic stake in India’s Jet Airways, prompting the airline’s creditors to extend a deadline for expressions of interest (EOI).

ATW speaks with new Virgin Atlantic CEO Shai Weiss about his first 100 days in the job and his strategy for the airline.

Airbus and Boeing commercial aircraft deliveries for 2019 year-to-date, sorted by most-recent delivery date.

Vietnam’s Vietjet Air has revealed another profit increase the fast-growing LCC says puts it well ahead of its earnings target for the past two years.

Airbus and Boeing commercial aircraft gross orders for 2019 year-to-date, sorted by most-recent date of order placement with manufacturer.

American Airlines is trimming its revenue outlook for the first quarter, citing financial costs and disruptions related to the grounding of the company’s fleet of Boeing 737 MAX 8 aircraft and the temporary removal of 14 Boeing 737-800 aircraft for maintenance.

Aircraft Briefs-April 9, 2019

Brazilian aircraft manufacturer Embraer has selected Francisco Gomes Neto, president of street bus body supplier Marcopolo, to be its next CEO and president, the company announced April 9.

Scandinavian LCC Norwegian Air Shuttle has promoted its chief financial officer Geir Karlsen to the post of deputy CEO, just a year after he joined the airline.

The survival prospects of Indian carrier Jet Airways remain unclear, as a deadline for potential investors looms this week and more aircraft are reclaimed by lessors.

American Airlines is extending the flight cancellations caused by the grounding of the Boeing 737 MAX 8 fleet through June 5.

The deadline for Italian railway company Ferrovie dello Stato (FS) to present a binding offer for Alitalia was extended to April 30 by the government and the commissioners managing the bankrupt carrier, Italian media reported.

Korean Air chairman and CEO Cho Yang-ho died April 7, after heading the airline for more than 20 years and overseeing its development into one of Asia’s leading carriers.

Aspiring Canadian ULCC Jetlines said its first day of revenue flights will be Dec. 17—later than its most recent plans, but for the first time pinned to a definitive date.