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IAG's first quarter net income down 74%

International Airlines Group (IAG) presented Group consolidated results for the three months to March 31, 2017. The Group’s operating profit for the period was €170m, an increase of €15m versus last year, or €47 million at ccy. In 2017, the Group recognised an exceptional charge of €1m related to the continuation of British Airways transformation initiatives. In 2016, the exceptional charge reflects the impact of recording Aer Lingus fuel cost at the hedged price in the pre-exceptional column, rather than at spot price in the reported column. Net non-operating costs were €116m for the quarter compared to €44m in 2016. The increase was from higher unrealised losses on the remeasurement of derivatives not qualifying for hedge accounting and unrealised net currency retranslation charges, partially offset by a €17m reduction in net financing costs. The profit after tax and exceptional items for the quarter was €27m (2016: €104m), a reduction of €77m in the period.

Wednesday May 31, 2023
SITA is extending its passenger touchpoints to two additional Canadian airports
Expanding on a collaboration with three of Canada’s largest airports, SITA will extend the benefits of its passenger touchpoints to Regina International Airport and Region of Waterloo International Airport with the delivery of check-in and self-bag drop syst... Read More »
Wednesday May 31, 2023
Nauru Airlines
Nauru Air Corporation (Nauru Airlines), the flag carrier of the Republic of Nauru, has concluded a financing deal with HALO AirFinance (HALO) for the purchase of one Boeing 737-800SF freighter. HALO is a joint venture between GA Telesis and Tokyo Century. “N... Read More »
Wednesday May 31, 2023
SIA will extend is free unlimited Wi-Fi to all travellers in all classes
Singapore Airlines (SIA) will extend the comprehensive free unlimited Wi-Fi access from July 1, 2023, to all travellers in all cabin classes, including Premium Economy Class and Economy Class. This enhanced Wi-Fi offering will be available virtually across the... Read More »
Wednesday May 31, 2023
Aeronautical Engineers (AEI) has released that Argentina’s Administración Nacional de Aviación Civil (ANAC) has approved AEI’s STC (ST02690LA) for the 12-pallet position B737-800SF freighter conversion. AEI has gained FAA, CAAC, EASA, TCCA, UK CAA, CAACI... Read More »
Wednesday May 31, 2023
Eastar Jet has taken delivery of one Boeing 737-8 aircraft
Eastar Jet (Eastar) has taken delivery of one Boeing 737-8 aircraft on lease from BOC Aviation. The aircraft is powered by CFM LEAP-1B engines. “We are pleased to participate in Eastar’s growth story and to welcome it as a new customer as we continue to pr... Read More »
Wednesday May 31, 2023
Qantas will establish a climate fund
The Qantas Group will establish an AU$400 million climate fund to provide direct investments in sustainability projects and technologies, as the airline works towards its emissions reduction targets. The Qantas Climate Fund, announced as part of the Group’s... Read More »
Tuesday May 30, 2023
Global Airlines is getting ready for launch this summer with its first Airbus A380
Global Airlines has announced that it is to acquire its first Airbus A380 from Doric Aviation, looking to redefine the long-haul travel experience for its passengers. The new carrier has chosen to purchase its first four aircraft, all A380s, as opposed to goin... Read More »
Tuesday May 30, 2023
On May 27, airBaltic, the national airline of Latvia, celebrated the arrival of its 42nd Airbus A220-300 aircraft, bearing the registration YL-ABP, in Riga. This marked the third delivery of an Airbus A220-300 to airBaltic in 2023, as part of its order for a t... Read More »
Tuesday May 30, 2023
Allegiant and the International Brotherhood of Teamsters (IBT), representing Allegiant dispatchers, have ratified a new contract agreement on a two-year extension to the union’s initial collective bargaining agreement.     The tentative agreement, ... Read More »
Tuesday May 30, 2023
Elbe Flugzeugwerke will supply Airspace L Bins for the Airbus A320 family
Elbe Flugzeugwerke GmbH (EFW), competence centre for Airbus Aircraft Conversions (P2F) and for lightweight components, has been appointed by Airbus as supplier and manufacturer of upsized overhead bins, the Airspace L Bins, a new retrofit solution for single-a... Read More »
Tuesday May 30, 2023
Richard Sell will assume the role of CEO for HAECO Group on July 1. 2023
HAECO Group, a leading global provider of aircraft maintenance, repair and overhaul services, has appointed Richard Sell as its new Chief Executive Officer. He will assume the role on July 1, 2023, succeeding Frank Walschot, who will remain as an advisor to ... Read More »
Tuesday May 30, 2023
Swiss Aviation Software (Swiss-AS) and Volocopter have co-signed a landmark multi-year contract for AMOS, Swiss-AS’s maintenance, repair, and overhaul (MRO) software. AMOS will be used to manage Volocopter’s electric vertical take-off and landing (eVTO... Read More »
Tuesday May 30, 2023
AMETEK MRO AEM, a provider of aviation MRO services, has expanded heat exchanger capabilities at its Ramsgate facility in the UK. This is due to increased customer demand from operators of A320, B737 and B757 aircraft fleets. These are all platforms currently ... Read More »
Monday May 29, 2023
China’s first ‘home-grown’ commercial airliner the C919
Delivered to launch customer China Eastern Airlines in December 2022, and after considerable flight testing, the COMAC C919 has completed its first commercial flight. Built by Commercial Aircraft Corporation of China (COMAC) the narrow-body C919 left Shanghai ... Read More »
Monday May 29, 2023
Frederico Lemos has been appointed CCO for Defense & Security international businesses
Embraer has appointed Frederico Lemos to the position of Chief Commercial Officer (CCO) for international businesses of Embraer Defense & Security. Following the appointment of Bosco da Costa Junior as President & CEO of Embraer Defense & Security ... Read More »
Monday May 29, 2023
All of QantasLink’s 20 Boeing 717s will be gradually replaced
Qantas will mark the end of an era with the departure of one of its Boeing 717 jets, the first of its type to be registered and flown in Australia. The departing 717 (registration VH-NXI) holds a special place in the Qantas Group’s modern history, having ope... Read More »
Monday May 29, 2023
Torbjorn Sjogren, VP and GM, Government Services, Boeing Global Services and Sarbjit Singh, President, Defence Aerospace, ST Engineering
Boeing and ST Engineering have signed a Memorandum of Understanding (MoU) to outline potential areas of collaboration in systems integration, training, local parts distribution, support and sustainment work for the P-8A Poseidon. Boeing and ST Engineering have... Read More »
Monday May 29, 2023
Eve Air Mobility began testing its vertical lift rotors aboard a new custom truck-mounted platform
Eve Air Mobility (Eve) has released that it continues to advance its electric vertical take-off and landing (eVTOL) testing phase as it makes strides toward key programme milestones. The various tests performed throughout this phase are part of Eve’s buildin... Read More »
Monday May 29, 2023
ITA has taken delivery of its first A330neo aircraft during a ceremony held in Toulouse, France
ITA Airways, Italy’s national carrier, has taken delivery of its first Airbus A330neo aircraft, on lease from Air Lease Corporation (ALC). The A330-900 will join the ITA Airways’ fleet in June to serve its long-haul routes and new intercontinental dest... Read More »
Friday May 26, 2023
Deutsche Lufthansa AG will acquire a minority stake in ITA Airways
Deutsche Lufthansa AG (Lufthansa) has agreed with the Italian Ministry of Economy (Ministero dell’Economia e delle Finanze, MEF) to acquire a 41% stake in ITA Airways through a capital increase of €325 million (£283 million). As part of the agreement, the... Read More »
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