Alaska Air Group reported second quarter 2016 GAAP net income of US$260m, compared to US$234m in the second quarter of 2015. Excluding the impact of mark-to-market fuel hedge adjustments and merger costs, the company reported adjusted net income of US$263m, compared to adjusted net income of US$230m in 2015. Alaska Air Group held US$1.6bn in
Southwest Airlines reported its second quarter 2016 results with a quarterly GAAP net income of US$820m, compared with second quarter 2015 GAAP net income of US$608m. Excluding special items, quarterly net income was US$757m, compared with second quarter 2015 net income of US$691m. Quarterly GAAP operating income amounted to US$1.3bn, resulting in a strong second
Air Astana has recorded a net loss of US$6.6m and an operating profit of US$0.975m, for the first half of 2016. Operating revenue fell by 30% to US$275m, driven by a signification devaluation of the Kazakh Tenge in comparison with the first half of 2015, and by weaker regional travel markets in the wake of
Wizz Air Holdings, the largest low-cost airline in Central and Eastern Europe, issued an unaudited interim management statement for the three months to June 30th, 2016 (first quarter, Q1, F2017). Total revenue increased 9.8% in Q1 to €364.9m and reported net profit was €50.7m in Q1, a year on year increase of 54.2%. Underlying net
For the second quarter of 2016, United Airlines reported total revenue was US$9.4bn, a decrease of 5.2% year-over-year. Second-quarter 2016 consolidated passenger revenue per available seat mile (PRASM) decreased 6.6% and consolidated yield decreased 6.1% compared to the second quarter of 2015. The decline in PRASM continues to be driven by factors including a strong
Spectre Air Capital, has completed the purchase of Stands on Demand (SOD). SAC will continue to operate the engine stand leasing business and will launch a new platform in short order. As part of the transaction the owners of SOD will own a minority share in the new joint company. Jordan Jaffe, CEO of SAC,
SR Technics reported that sole shareholder Mubadala, the Abu Dhabi investment and development company, has agreed to sell an 80% stake in the company to HNA Aviation, a global enterprise group based in Haikou, China. SR Technics, a world leading MRO service provider for the civil aviation sector, will remain a standalone business within HNA
Qatar Airways has signed a contribution and shareholders agreement with Alisarda, the parent company of Meridiana. The agreement provides for Qatar Airways to purchase 49% of Meridiana fly’s shares, subject to the fulfilment of certain conditions, before the closing which is planned for early October. Qatar Airways Group Chief Executive, Mr. Akbar Al Baker, said:
Rolls-Royce Holdings will purchase the outstanding 53.1% shareholding in Industria de Turbo Propulsores SA (“ITP”) owned by SENER Grupo de Ingeniería SA (“SENER”). The acquisition strengthens Rolls-Royce’s position on its Civil Aerospace large engine growth programmes by capturing significant additional value from its long-term aftermarket revenues, including the high volume Trent 1000 and Trent XWB
HNA Group and gategroup Holding AG entered into a definitive transaction agreement on April 11, 2016, pursuant to which HNA launched an all cash public tender offer for all publicly held registered shares of gategroup. On July 7, 2016, HNA published the definitive notice of the interim result and declared the tender offer successful. The
