Airlines & Lessors

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.

Saudi-Egyptian carrier Nesma Airlines has begun services from Hail, in the north of Saudi Arabia, as domestic competition in the country intensifies.

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.

Las Vegas-based Allegiant Travel Co., parent of low-cost carrier Allegiant Air, posted third-quarter 2016 net income of $45.5 million, up 2.2% over the company’s $44.5 million net profit in 3Q 2015.

Kenya Airways recorded a first-half net loss of KSh4.8 billion ($47 million), narrowed from a loss of KSh12 billion in the same period last year.

Indianapolis-based Republic Airways Holdings, which filed for Chapter 11 bankruptcy protection in February, has confirmed in an SEC filing that it has reached agreement with Bombardier to defer delivery of CSeries aircraft it ordered in 2010.

Singapore-based aircraft lessor Avation has received an approach from an unnamed company that wants to acquire 22 of its 24 ATR 72s.

China Eastern Airlines reported a third-quarter net profit of CNY3.5 billion ($517 million), up 95.5% over a net income of CNY1.8 billion in the year-ago quarter.

Qantas Airways has unveiled its first livery refresh in nine years, and has also revealed the configuration for its Boeing 787-9s, which will begin arriving in 2017.

Icelandair has joined Airlines for Europe (A4E), the rapidly growing lobby group that was formally set up in January 2016.

Grupo Aeromexico reported a net profit of MXP665 million ($34.3 million) for the 2016 third quarter, down 9.8% year-over-year (YOY) from MXP737 million net income in 3Q 2015.

People-Oct. 26, 2016

Dallas-based Southwest Airlines posted a $388 million net profit for the 2016 third quarter, down 33.6% year-over-year (YOY) from $584 million in 3Q 2015.

Finnair recorded a third-quarter net profit of €87.6 million ($95.6 million), more than doubled from €39 million for the year-ago period.

Air France CEO Frederic Gagey is expected to move to become Air France-KLM Group CFO, as the Franco-Dutch firm prepares to announce its new strategy.

Flybe CEO Saad Hammad has stepped down, effective immediately, by “mutual agreement,” the UK regional airline said in a statement.

Mexico City-based Volaris reported a 2016 third-quarter net income of MXP1 billion ($55 million), down 7.1% from the year-ago period.

SunExpress CEO Jaan Albrecht has requested an early termination of his contract and will step down at the end of December, creating a vacancy at the Lufthansa and Turkish Airlines joint venture.

Florida-based ultra-low-cost carrier Spirit Airlines reported $81.4 million net income for the 2016 third quarter, down 16.2% year-over-year (YOY) from a $97.1 million net profit in 3Q 2015.

JetBlue Airways saw softer yields and posted third-quarter net income essentially flat over the previous year as costs grew 3%.

Russia’s S7 Airlines has reported it carried 967,075 domestic passengers in September, up 30% year-over-year (YOY).

New York-based Jet Blue Airways has taken a minority stake in fast-growing, California-based jet charter company JetSuite.

YTO Cargo Airlines plans to expand its fleet to 50 aircraft by 2020 as China’s domestic express delivery market continues to experience rapid growth.

Korean Air achieved a net profit of KRW428 billion ($378 million) for the third quarter, reversing a loss of KRW510 billion in the year-ago period.