Airlines & Lessors

Korean Air produced a consolidated net profit of KRW559 billion ($500.3 million) for the first quarter of 2017, reversing a loss of KRW175 billion in the year-ago period.

Alitalia’s special commissioners have called on parties willing to buy or restructure the insolvent airline to express their interest in doing so.

Growth in worldwide air cargo traffic reached its highest level in nearly seven years as March FTKs expanded 14% compared to a year ago, according to IATA’s March Air Freight Market analysis.

For commercial airlines and airline groups worldwide, 2017 passenger traffic, RPKs, ASKs, load factors, and FTKs, as of May 17, 2017.

Air France has given more details of its Boost project, revealing plans to launch the new airline with five Airbus A320s in winter 2017.

Copa Airlines plans to complete a $50 million cost reduction plan this year, CEO Pedro Heilbron told ATW.

European airlines lost approximately $2.5 billion in revenue as a result of the 2015-2016 terrorist attacks in Paris and Brussels, according to a new IATA study.

Kuwait Airways has appointed Ebrahim Abdullah Al-Khuzam as its new CEO, succeeding Rasha Al-Roumi, who resigned in April.

For Canadian manufacturer Bombardier's commercial aircraft, consolidated 2016 orders, deliveries and cancellations.

UK-based low-cost carrier (LCC) easyJet reported a net loss of £192 million ($247.8 million) in the first half of its financial year, widened from a net loss of £15 million for the same period last year.

SuperJet International has named Stefano Marazzani as CEO, succeeding Nazario Cauceglia who has been appointed president and chairman of the board.

Berkshire Hathaway bought more shares of American Airlines and Southwest Airlines in the 2017 first quarter.

UK low-cost carrier (LCC) easyJet has reached an agreement with Airbus to convert 30 of the Airbus A320neos that it has on order to A321neos, with the first delivery scheduled for summer 2018.

For Canadian manufacturer Bombardier's commercial aircraft, consolidated 2017 orders, deliveries and cancellations -- updated through the 2017 first quarter.

Ethiopian Airlines plans to implement a “very heavy cost-cutting program,” targeting an annual cost savings of 10%-20% that the airline aims to reach as soon as possible without having to reduce jobs, CEO Tewolde Gebremariam told ATW.

Startup carrier Cyprus Airways will launch weekly Larnaca-Rhodes service on June 23 and 2X-weekly Larnaca-Heraklion services June 24.

Malaysia-based low-cost carrier (LCC) AirAsia plans to launch a new LCC in Zhengzhou, China in an effort to explore the fast-growing Chinese low-cost market.

US aircraft lessor Aviation Capital Group (ACG) posted an $830 million net profit for first-quarter 2017.

The carrier plans to launch new routes to Bastia, France, beginning June 26; to Pula, Croatia, starting June 27; and to Varna, Bulgaria, from June 28.

LOT Polish Airlines took delivery May 12 of its first Boeing 737-800, and expects to have four aircraft of the type by the end of June.

An All Nippon Airways (ANA) Boeing 787-9 made an unscheduled landing in Bratsk, Russia, after cockpit instruments warned pilots of an engine problem.

São Paulo-based low-cost carrier GOL reported a BRL232.7 million ($74.4 million) net profit for the first quarter of 2017, down 69.3% from BRL 242.1 million in 1Q 2016.

Panama City-based Copa Holdings reported $102.3 million net profit for the first quarter of 2017, down 11.4% from $115.5 million net income for 1Q 2016.

Gulf low-cost carrier (LCC) Air Arabia reported a first-quarter net profit of AED103 million ($28 million), down 10% compared to net profit of AED114 million in the 1Q 2016. Revenue for the quarter was AED810 million, down 14% year-over-year.

Argentine ultra low-cost carrier (ULCC) startup Flybondi has finalized a lease agreement on its first Boeing 737-800 and is in talks to secure a fleet of up to 10 737-800s for 2017-18.