Higher fuel costs and deeper foreign exchange losses offset rising revenue for Korean Air, sending the carrier deeper into the red for the second quarter.
Panasonic Avionics Corp. (PAC), which settled bribery and accounting fraud charges brought by the US government earlier this year, has appointed a new chief compliance officer.
Global air passenger traffic was up 7.8% in June, reflecting a healthy start to the peak summer travel season in the northern hemisphere, but overall demand through June has moderated in 2018 compared to the first-half of 2017, according to IATA’s latest Air Passenger Market Analysis.
Jazeera Airways said revenue and profit grew in the first half of the year, helped by a 50% increase in passengers, thanks to route launches and aircraft additions.
Asiana Airlines managed to cut its net loss significantly in the second quarter, thanks partly to the carrier’s revenue rising to record levels during the period.
The pilot representative on Air France KLM’s board of directors has spoken out against the possibility of the group choosing Air Canada’s passenger airlines president and COO as its next chief executive, saying a French candidate with international experience would better suit the group.
Azul Brazilian Airlines reported a BRL238.3 million ($61.6 million) net profit for the 2018 second quarter, reversing its BRL386 million net loss of 2Q 2017, as revenues generated by seven new Airbus A320neos offset rising fuel prices, a weakened Brazilian currency and a nationwide truckers strike.
The Bombay Stock Exchange (BSE) is seeking further information after Indian carrier Jet Airways delayed the release of its financial results for the quarter ended June 30.
Aerospace company and aircraft lessor Dubai Aerospace Enterprise (DAE) has posted a $224 million pre-tax profit for the 2018 first half, up from $42.5 million for the comparable period, driven by the “smooth and successful integration” of leasing company AWAS.
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.
