A combination of geo-political and macroeconomic factors brought about a sharp reduction in earnings at Emirates Airline in the 2016-17 financial year, the Dubai-based carrier reported May 11.
Scandinavian leisure carrier Primera Air has placed an order for eight Boeing 737 MAX 9s, has taken purchase rights on four more, and will lease another eight from US lessor Air Lease Corp.
Ukraine’s Antonov Airlines, a division of state-owned Antonov Company, has established offices in the US and Hong Kong as part of ongoing expansion plans.
Lithuania-based lessor AviaAM Leasing has warned that airlines may have to list operating leases on their balance sheet, once new financial reporting standards come into effect in 2019.
China’s booming air travel market will require 3,200 new airliners over the coming decade, with more than 50% still to be ordered, according to a new study released by lessor Avolon.
Luxembourg all-freight operator Cargolux and Dubai-based Emirates SkyCargo have signed a memorandum of understanding (MOU), paving the way for a strategic cargo partnership.
Lufthansa has confirmed an interest in taking over airberlin; however, the German carrier will look to Abu Dhabi’s state-owned carrier Etihad Airways to take care of airberlin’s debts.
Etihad Aviation Group has confirmed that president and CEO James Hogan will leave the company July 1, naming chief people & performance officer and Ray Gammell as his interim replacement.
Commercial aircraft lessor Air Lease Corp. (ALC) posted $84.9 million in net income for the 2017 first quarter, down 8.5% from $92.9 million in 1Q 2016.
Air Canada incurred a 2017 first-quarter net loss of C$37 million ($27.8 million), reversed from a net profit of C$101 million in the 2016 March quarter, as rising fuel costs hit the bottom line.
Jazeera Airways announced a net loss of KD900,000 ($2.96 million) for 1Q 2017 as it continued to be hit by a slowing economic backdrop and excess capacity in the area.
International Airlines Group (IAG) posted a first-quarter net profit of €27 million ($29.6 million), down 74% from net profit of €104 million in 1Q 2016.
Global air passenger traffic has grown 7% year-over-year in the first quarter of 2017, exceeding the long-run average 5.5% traffic growth rate, IATA said in its March Air Passenger Market Analysis.
Australian flag carrier Qantas is forecasting another strong profit for its fiscal year through June 30, as international market conditions faced by the carrier improve.
Lufthansa Group low-cost subsidiary Eurowings and Aviation Services CEO Thorsten Dirks took over the position May 1, succeeding Karl Ulrich Garnadt, who retired April 30.
