Financial

Alaska Air Group reported first quarter 2013 GAAP net income of $37m, compared to $41m in 2012. Excluding the impact of mark-to-market fuel hedge adjustments of $12m ($7m after tax), the company reported record first quarter 2013 net income of $44m, compared to net income excluding mark-to-market fuel hedge adjustments of $28m in 2012.

United Airlines reported a first-quarter 2013 net loss of $325m, excluding $92m of special charges. Including special charges, UAL reported a first-quarter 2013 net loss of $417m. For the first quarter of 2013, total revenue was $8.7bn, an increase of 1.4% year-over-year. First-quarter consolidated passenger revenue increased 0.7% to $7.6bn, compared to the same period

Southwest Airlines posted its first quarter 2013 results. First quarter 2013 net income was $59m, which included $6m (net) of favorable special items. This compared to net income of $98m, in first quarter 2012, which included $116m (net) of favorable special items. Excluding special items, first quarter 2013 net income was $53m, compared to a

MTU Aero Engines Holding AG started the financial year 2013 with a 35% surge in revenues, which amounted to €944.7m in the first quarter 2013, compared with €698.0m in the first quarter 2012. The group generated an operating profit of €89.3m (1-3/12: €91.4m), which corresponds to an EBIT margin of 9.5%. Earnings after tax amounted

Safran reported that first-quarter 2013 adjusted revenue was Euro €3,404m, up 9.5% year-on-year, or up 9.6% on an organic basis. Solid revenue growth contribution from Aerospace activities, both in OE deliveries and aftermarket. Sales in Defence were resilient. Positive dynamics in Security. Civil aftermarket up 10.0% in USD terms, driven by first overhaul of recent

Boeing Commercial Airplanes first-quarter revenue decreased to $10.7bn on delivery mix and lower services revenue. First-quarter operating margin improved to 11.4%, reflecting the delivery mix and lower R&D, partially offset by higher period costs. During the quarter, Commercial Airplanes delivered the first 777 aircraft produced at a record production rate of 8.3-per-month and reached a

Etihad Airways and Jet Airways of India released that the UAE national carrier has agreed to subscribe for 27,263,372 new shares in Jet Airways at a price of INR754.74 per share. The value of this equity investment is US$379m and will result in Etihad Airways holding 24% of the enlarged share capital of Jet Airways.

Vueling, the Spanish low cost carrier based in Barcelona, is to become part of International Airlines Group (IAG) after the majority of its shareholders accepted IAG’s cash tender offer for the airline, following recommendation by the Vueling board. IAG’s subsidiary Iberia already owns 45.85% of Vueling’s shares and Iberia’s board agreed not to tender them

Delta’s net profit for the March 2013 quarter was $85m, excluding special items. This result is a $124m improvement year-over-year. Including $78m in special items, Delta’s GAAP net income was $7m. Results include $20m of profit sharing expense in recognition of Delta employees’ contributions to the company’s financial performance. Delta generated $1.1bn of operating cash