Southwest Airlines’ total operating revenues increased 1.2%, year-over-year, to a first quarter record US$4.9bn, driven largely by first quarter record passenger revenues of US$4.4bn. Southwest reported net income of US$351m, operating income of US$658m and operating margin of 13.5%. On a unit basis, operating revenues declined 2.8%, year-over-year, which was in line with the Company’s
Finnair Group reported first quarter revenues increased 3.3% to €554.4 m. EBITDAR was €50.1m compared to €36.4m the previous year. Net cash flow from operating activities totalled €23.9m, compared to €10.4m in 2016 and net cash flow from investing activities amounted to €145.1m compared to €-247.3m in 2016.
MTU Aero Engines AG saw its revenues increase by 15% to €1,261.3m in the first quarter of 2017 (1-3/2016: €1,097.9m). The group’s operating profit improved by 20% from €131.3m to €157.0m, pushing the EBIT margin up from 12.0% to 12.4%. Earnings after tax rose in line with operating profit, increasing by 21% to €111.0m (1-3/2016:€91.5m).
The day after Boeing announced a Q1 19% rise in profits, Airbus has announced a fall in adjusted operating profit of 51%, to €240m for Q1 2017. Revenue increased 7% to just under €13bn and while analysts had predicted a loss, the 52% drop was appreciably greater than the 31% anticipated. Airbus shares fell by
Norwegian reported its first quarter results for 2017 with a net loss of NOK1.5bn, compared to a net loss of NOK800m in the first quarter of the previous year. During the first quarter, unit costs excluding fuel fell by 4% and debt was cut by NOK1bn. Total revenue in the first quarter was NOK5.4bn an
In 2016 the Liebherr Group has achieved the third-highest turnover in the Group’s history, with total sales of €9,009m, compared to 2015, this represents a decrease of €228m or 2.5%. In 2016, the Group achieved a net result for the year of €298m, equaling the 2015 result. The financial result improved significantly, thanks in part
Alaska Air Group has reported first quarter 2017 GAAP net income of US$99m, compared to US$184m in the first quarter of 2016. Excluding the impact of special items and mark-to-market fuel hedge adjustments, the company reported adjusted net income of US$130m, compared to US$183m in 2016. As the acquisition of Virgin America closed on Dec.
Boeing has reported higher first-quarter earnings and operating cash flow compared to the previous year, driven by solid execution on production programs and services. Revenue decreased to US$21.0bn, down 7% from 2016, reflecting the timing of commercial and defense aircraft deliveries. Commercial Airplanes first-quarter revenue was US$14.3bn on services growth, down 1% from 2016, offset
MTU Maintenance, the maintenance, repair and overhaul (MRO) arm of MTU Aero Engines, reported another year of successful growth in 2016. The company has signed independent deals with a contract volume of US$2.2bn with the program families CF34, CFM56, and LM industrial gas turbines (IGTs) enjoying particular success. “Over 250 new contracts have been signed
HEICO Corporation released that its Flight Support Group completed the acquisition of Air Cost Control (A2C). Financial terms were not disclosed, but HEICO stated that it expects the acquisition to be accretive to its earnings within the year following closing. On March 8, 2017, HEICO announced it had entered into an agreement, subject to foreign
