Announcing a 25% drop in adjusted EBIT earnings to €754 million for the second quarter and net profit plummeting 70% to €226 million, Lufthansa’s share price fell 5.5% by 0850 GMT, July 30, having already fallen by almost a third over the last year. Aside from a €200 million tax provision hitting profits hard, the
Ryanair has reported a 21% year-on-year drop in post-tax profit at €243 million (US$270.36 million) for the three-month period up to June 30. While the carrier is not adjusting its end-of-year profit forecast of between €750 million and €950 million (US$832 million and US$1054 million), fares have fallen by 6% when compared to the same
For the first quarter of FY2019-20, SIAEC Group posted a revenue of SG$258.1 million, comparable year-on-year. Revenue from the airframe and line maintenance segment was SG$2.3 million higher. This was partially offset by a SG$1.9 million decrease in revenue from the engine and component segment. Expenditure at SG$240.4 million was lower by SG$7.1 million or
Having made a name for itself by pioneering air-to-air refueling technology and its technology also found on Airbus jets as well as F-35 fighters, British company Cobham is to be acquired by American private equity group Advent International for £4 billion (US$5 billion). The offer equates to 165 pence in cash for each share in
At half-year, MTU Aero Engines AG has raised its forecast for 2019. The company is now projecting an adjusted EBIT margin in the region of 16%. The original forecast had been 15.5 % (2018: 14.7 %). “The increase in the earnings outlook mainly reflects two factors: One is that our MTU Maintenance Zhuhai site in
WestJet Airlines’ shareholders and optionholders have overwhelmingly voted to approve its previously announced proposed transaction with Onex Corporation, at a special meeting held July 23. Of the votes cast at the Meeting, more than 92.5% of shareholders and optionholders who voted were in favour of the proposed transaction. WestJet and Onex entered into a definitive
The Boeing Company has reported second-quarter revenue of US$15.8 billion, GAAP net loss of (US$2.9) billion, loss per share of (US$5.21) and core loss per share (non-GAAP) of (US$5.82), reflecting the previously announced 737 MAX charge (which reduced revenue by US$5.6 billion and earnings by US$8.74 per share) as well as lower 737 deliveries partially
With over 300 of the Boeing 737 MAX jets grounded worldwide, United Technologies has seen an increase in demand for its aircraft maintenance parts and services for airlines’ other aircraft and, as a consequence, has raised its full-year sales and profit forecast. It is one of the first companies to openly signal that it has
Lockheed Martin has reported second quarter 2019 net sales of US$14.4 billion, compared to US$13.4 billion in the second quarter of 2018. Net earnings in the second quarter of 2019 were US$1.4 billion, or US$5.00 per share, compared to US$1.2 billion, or US$4.05 per share, after severance charges of US$96 million, in the second quarter
Cathay Pacific Airways (Cathay Pacific), the flag-carrying Hong-Kong based airline, has announced it has completed the purchase of low-cost carrier Hong Kong Express Airways. The deal, when announced back in March this year, was for a purchase price of KK$4.93 billion (US$628 million) in the form of HK$2.25 million in cash and the pledge to
