Airlines & Lessors

An Emirates Airline Boeing 777-300 crash-landed at Dubai International Airport Aug. 3 and was destroyed by fire. None of the 282 passengers and 18 crew was injured, the airline said. However, the Dubai government said one firefighter was killed.

Aircraft Leasing-Aug. 2, 2016

Lufthansa Group delivered a first-half net profit of €429 million ($463.3 million), down 55% from a net profit of €954 million a year ago.

South Korea-based low-cost carrier (LCC) Eastar Jet has become the fifth airline to join the first North Asian U-FLY Alliance of low-cost carriers.

Garuda Indonesia reported a net loss of $63.2 million for the six months through June 30, reversed from a $29.3 million profit a year earlier.

German-based restructuring specialist 4K Invest (AA International Aviation Holding) has completed the takeover of Slovenian flag carrier Adria Airways.

India-based low cost carrier (LCC) IndiGo reported a net profit of INR5.92 billion ($87.3 million) for its 1Q 2017 period to end June 2016, down 7.4% compared to the same period last year.

Russia’s Aeroflot Group carried 19.7 million passengers in 1H 2016, up 10.3% year-over-year (YOY).

Singapore-based lessor BOC Aviation has struck a sale-and-leaseback deal with Indonesia’s Lion Air Group for two Boeing 737-800s and two 737-900ERs.

Kuwaiti hybrid carrier Jazeera Airways reported a half-year net profit of KD6 million ($19.9 million), down 3.6% year-over-year (YOY) because of overcapacity in the local marketplace.

Shanghai-based Juneyao Airlines is expected to join Star Alliance’s Connecting Partner Model (CPM) program in an effort to facilitate its rapid international expansion, according to an industry insider.

While Virgin Australia remains a popular investment option for overseas airlines, the carrier is set to report a significant net loss due to restructuring costs.

US-based United Parcel Service (UPS) posted a $1.27 billion net profit for the second quarter of 2016, up 3.2% from net income of $1.23 billion in the same quarter in 2015.

Air Canada reported C$186 million ($143 million) in net profit for the second quarter of 2016, down 37.2% from the airline’s C$296 million net result in 2Q 2015.

Gulf carrier Qatar Airways has increased its stake in International Airlines Group (IAG) from 15.67% to 20.01%, in what it called an attractive buying opportunity, the company announced Aug. 1.

People-July 29, 2016

Pakistan International Airlines (PIA) signed a wet-lease agreement with SriLankan Airlines for three A330s, PIA CEO Bernd Hildenbrand confirmed to ATW.

Embraer recorded a net income of $4.5 million for the half year ended June 30, compared to $72.5 million for the year-ago period.

Las Vegas-based Allegiant Travel Co., parent of Allegiant Air, reported second-quarter net income of $60.8 million, up 12% from $54.3 million in the year-ago period.

US-based FedEx earned net income of $1.82 billion for its 2016 fiscal year ended May 31, up 73.3% over a net profit of $1.05 billion for the previous fiscal year, on a 6.1% year-over-year (YOY) rise in revenue to $50.37 billion.

Florida-based ultra low-cost carrier Spirit Airlines reported 2016 second-quarter net income of $73.1 million, down 4.7% from a $76.7 million profit in the year-ago period.

Japan Airlines (JAL) saw its net profit decline 55% to ¥14.7 billion yen ($143.6 million) in the three months through June 30, partly because of earthquakes in Kyushu and weakness in many global markets.

International Consolidated Airlines Group (IAG) reported a substantially improved half-year performance July 29.

Utah-based SkyWest, parent of regional carriers SkyWest Airlines and ExpressJet Airlines, reported $40.2 million in 2016 second-quarter net income, up 27.8% from the company’s $31.5 million net income in 2Q 2015.

The Singapore Airlines Group has reported a 2016-17 first-quarter net profit of S$256.6 million ($190 million), nearly tripled from a S$91.2 million net profit in the year-ago period ended June 2015.