Third-quarter 2016 net profits for the airline industry were up 4.9% year-over-year, according to a sampling of 67 airlines reported in IATA’s latest Airlines Financial Monitor.
Avianca Brasil has been challenged by weak demand, high fuel prices, taxes and overcapacity this year as it navigates through a tough economic climate in Brazil.
SAS Scandinavian Airlines plans to open aircraft bases in Europe within the next 12 to 15 months, as it seeks to cut costs to appeal to leisure travelers.
Seattle-based Alaska Air Group has closed its $4 billion acquisition of San Francisco-based Virgin America, creating the fifth largest airline in the US.
SAS Scandinavian Airlines reported a full-year net income of SEK1.3 billion ($142 million), up 38.2% from a SEK 956 million profit in the year-ago period.
US scheduled passenger airlines made a $3.8 billion net profit in the 2016 third quarter, down 58.8% from $9.3 billion in 3Q 2015, according to the US Bureau of Transportation Statistics (BTS) survey of 25 US airlines released Dec. 12.
Russia’s Federal Air Transport Agency, Rosaviatsia, has extended the temporary restrictions on the air operator’s certificate (AOC) for Pskovavia passenger and cargo airline through Jan. 31, 2017.
Boeing announced Sunday it had firmed a memorandum of agreement (MOA) signed with Iran Air earlier this year for 50 narrowbody and 30 widebody aircraft in a deal valued at $16.6 billion at list prices.
Norwegian Air Shuttle’s lessor subsidiary Arctic Aviation Assets (AAA) has taken delivery of its first Airbus aircraft, the first of 70 A320neos the Norwegian Group has on order.
Global air passenger traffic growth ebbed in October, increasing 5.8% year-over-year (YOY) compared to 7.1% growth in September, according to IATA’s October Air Passenger Market Analysis.
US industry trade organization Airlines for America (A4A) forecast 45.2 million passengers—a 3.5% year-over-year increase—will fly globally on US airlines during the upcoming holiday season.
Chinese carriers have reduced US dollar debt ratios on aircraft purchases as the weakening yuan (CNY) continues to impact airlines’ financial performance.
The Lufthansa supervisory board has appointed telecommunications expert Thorsten Dirks as the new CEO of low-cost carrier (LCC) Eurowings and Aviation Services, effective May 1, 2017.
Manila-headquartered Philippine Airlines has finalized a firm order for five Bombardier Q400s and purchase rights for another seven, launching the two-class, 86-seat variant.
The world’s airlines will continue their streak of collective profitability in 2017, but anticipated higher costs, coupled with a sluggish global economy that lead IATA forecasters to believe next year’s industry net profit will be almost $6 billion lower than 2016’s expected profit.
Global air cargo traffic increased 8.2% year-over year (YOY) in October, the best growth pace since February 2015, according to IATA’s October Air Freight Market Analysis.
Russia’s Aeroflot Group will carry 43.5 million passengers in 2016, up 10.4% year-over-year (YOY), Aeroflot Airline CEO Vitaly Savelyev at the group’s community board meeting.
Alaska Air Group and the US Department of Justice (DOJ) have agreed to terms that will allow for regulatory approval of Alaska’s $4 billion acquisition of Virgin America, which Alaska said it plans to close “in the very near future.”
RwandAir continues to add aircraft and expand long-haul routes even though it faces challenges in Africa’s economic climate and in the aviation industry.
Italian flag carrier Alitalia is planning to release a new strategy this month and has named former LATAM Airlines executive Jorge Vilches as CCO after three board resignations.
