The Lufthansa Group has reported a third-quarter net profit of €1.42 billion ($1.6 billion) up 79% from a net income of €794 million in 3Q 2015, as the Group stabilizes in a difficult market environment.
Virgin Australia reported a net loss of A$34.6 million ($26.4 million) for the three months through Sept. 30, reversed from a net profit of A$1.7 million for the same period last year.
Canadian low-cost carrier (LCC) WestJet reported a third-quarter net profit of C$116 million ($88.6 million), a 13.9% increase compared to a C$101.8 million net income in 3Q 2015.
Jazeera Airways has reported a third-quarter net profit of KD6 million ($19.8 million), down 27% on the year-ago period, as continued low oil prices and fare cuts by competitors took their toll.
Garuda Indonesia reported a third-quarter net profit of $19.6 million, down 11.6% compared to the year-ago period, but a marked improvement on the $63.2 million loss in the first half of 2016.
ANA Holdings reported a net profit of ¥57.4 billion ($546 million) for the six months through Sept. 30, up 6.4% from a ¥53.9 billion profit a year earlier.
You became the IATA director general having run a major airline group and held prominent industry and government positions. What most appealed to you about this post? I have spent 20 years in this business—with seven or eight years in between in government. When you have worked for more than 20 years in the aviation business, at an OEM, at an airline, you see the business from two different perspectives. Now I see it from a third angle, which is probably higher than the others, and that’s from the general interests of the industry.
There are signs of life for the Latin American airline business—especially if Brazil is discounted. But can Brazil be discounted? After all, it accounts for about half of the airline traffic in the region.
By 2019, Beijing Capital, Hong Kong, Manila and Singapore all will have reached their runway capacity limits. Terminals at three of them also hit capacity.
IATA’s new leader likes to talk and think speed. His comfort zone is the high gear: seeing the goal, setting the course of pursuit. At previous companies where he worked, the Frenchman admits with a smile, he was known by the words “allez! allez! allez!”—let’s go! This is a man who relishes the race to accomplishment, not the frustration of bureaucratic red tape and inaction.
Few would dispute that Qantas has pulled off one of the most dramatic airline turnarounds in recent history. However, the Australian carrier now faces an arguably greater challenge—translating this revival into long-term financial stability. Breaking out of the boom and bust cycle is the holy grail of the airline industry. Any carrier can slash costs to move out of the red, yet the real trick is ensuring this is not just a temporary reprieve but a means of creating a model that can thrive despite external shocks.
Asia-Pacific airlines carried 23.5 million passengers on international scheduled services in September, up 7% year-over-year (YOY), according the Association of Asia-Pacific Airlines (AAPA).
Utah-based SkyWest, parent of regional carriers SkyWest Airlines and ExpressJet Airlines, reported a net profit of $41.3 million for the 2016 third quarter, up 13.9% from the company’s $36.3 million net income in 3Q 2015.
Ireland-based lessor Avolon recorded a 67% increase in its fleet of owned, managed and committed airliners for 3Q 2016 compared to the same period a year ago, the company said.
International Consolidated Airlines Group (IAG) posted a €930 million ($1 billion) net profit for the 2016 third quarter, up 9.7% year-over-year (YOY) from the Group’s to €848 million net income in 3Q 2015.
UK-based SilverArrow Capital Group has acquired a 51% majority share in Swiss airline PrivatAir, which operates premium flights for Lufthansa and SAS Scandinavian Airlines.
