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.
Pakistan International Airlines (PIA) signed a wet-lease agreement with SriLankan Airlines for three A330s, PIA CEO Bernd Hildenbrand confirmed to ATW.
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.
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.
UK-based regional airline Flybe has warned it will take a £2.5 million ($3.3 million) full-year profit hit because of currency fluctuations following the UK’s decision to exit (Brexit) the European Union (EU).
Icelandair has reported a 2016 second-quarter net income of $26.2 million, up 17% from a $22.4 million profit in the year-ago period; however, the airline has downgraded its outlook because of market uncertainty triggered by Brexit and recent terrorist attacks.
Kazakhstan-based Air Astana is conducting a network and fleet study that may result in the airline taking Embraer E2s and creating a joint-venture airline in the region.
Malaysia Airlines is moving forward with a 12-point turnaround plan, which is proceeding faster than expected, Malaysia Airlines CEO Peter Bellew told ATW.
