China Eastern Airlines chairman Liu Shaoyong said the carrier’s role in the new transatlantic joint venture (JV)—between Air France-KLM, US-based Delta Air Lines and the UK’s Virgin Atlantic—is to enhance its position in the Sino-Europe market.
Air France-KLM saw a turnaround in its financial results in the 2017 first half, delivering a group net profit of €151 million ($176.8 million), reversed from a loss of €114 million in the same period a year ago.
American Airlines posted a 2017 second-quarter net profit of $803 million, down 15.5% from net income of $950 million in the 2016 June quarter, and chairman and CEO Doug Parker continues to argue the company is significantly undervalued in the stock market.
The coalition of airlines behind a new transatlantic joint venture (JV) is open to accepting more partners into the arrangement, KLM CEO Pieter Elbers said July 28.
Utah-based SkyWest Inc., parent of regional carriers SkyWest Airlines and ExpressJet Airlines, reported a $50.5 million net profit for the 2017 second quarter, up 25.4% over $40.2 million net income in 2Q 2016.
Ultra-low-cost carrier (ULCC) Spirit Airlines reported second-quarter net income of $78.1 million, up 6.9% from $73.1 net income in the year-ago quarter, as the Florida-based ULCC felt the financial impact of pilot-related fight cancellations, the airline said during a July 27 earnings call.
Southwest Airlines reported a $746 million net profit in the second quarter, down 9% from net income of $820 million in the 2016 June quarter, as it prepares for big fleet changes in the third quarter.
Singapore Airlines (SIA) reported a healthy profit for the three months through June 30, a welcome return to the black after posting a loss in the March quarter.
United Parcel Service (UPS) reported $1.4 billion net profit for the 2017 second quarter, up 9.1% over the cargo delivery company’s $1.3 billion net income in 2Q 2016.
Air France-KLM, Delta Air Lines and Virgin Atlantic are moving to create a new transatlantic joint venture (JV) triad that includes Air France-KLM acquiring a 31% stake in Virgin and Delta taking a 10% stake in Air France-KLM.
Las Vegas-based Allegiant Travel Co., parent of low-cost carrier (LCC) Allegiant Air, posted a $48.5 million net profit for the 2017 second quarter, down 20.3% from the company’s $60.8 million net profit in 2Q 2016.
Etihad Airways recorded a net loss of $1.87 billion for 2016, reversed from a net profit of $103 million in 2015. Etihad said exceptional charges were major factors behind the huge deficit and its core airline operation had turned in a “solid performance.”
Alaska Air Group—parent of Alaska Airlines, Virgin America and Horizon Air—earned $296 million in net income in the second quarter, up 13.8% over a net profit of $260 million in the 2016 June quarter, which does not include Virgin America’s 2016 second-quarter figures.
UK regional airline Flybe has posted improvements to its first-quarter load factor and yield, but new CEO Christine Ourmieres-Widener said further work is still needed.
New German airline SundAir has taken delivery of the first of two leased Airbus A320s and is preparing to start operations, pending final approval by German aviation authorities, which is expected soon.
Hawaiian Holdings, parent of Hawaiian Airlines, posted $80.4 million net income for the 2017 second quarter, up 1.1% from $79.6 million net profit in 2Q 2017.
New York-based JetBlue Airways reported second-quarter net income of $211 million, up 16.7% over a net profit of $181 million in the 2016 June quarter and a solid turnaround from a 58.8% year-over-year (YOY) net income decline in the 2017 first quarter.
Azul Brazilian Airlines has named longtime CFO John Rodgerson as its new CEO, replacing Azul founder David Neeleman, who will remain with the São Paulo-based airline as chairman of its board of directors.
Ireland-based lessor SMBC Aviation Capital is continuing to focus on the most technologically advanced fleet and is evaluating further orders of next generation widebody aircraft.
