- Special Reports
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- Airport of the week
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Virgin America today reports its financial results for the second quarter of 2011. During a period of significantly higher fuel prices, Virgin America recorded a $6.0 million operating loss and an operating margin of (2.2) percent.
The Air France KLM Board of Directors, which met on 15 September, approved the Group’s order of 110 long-haul aircraft (50 firm orders and 60 options), still subject to the finalization of discussions with the manufacturers.
During July 2011, currency adjusted RASK was unchanged versus previous year and yield was down 1.8%, both slightly below guidance. For August 2011, (change vs last year) currency adjusted RASK and yield are expected to be broadly in line with or slightly better than July.
Alaska reported a 7.6 percent increase in traffic on a 5.4 percent increase in capacity compared to August 2010. This resulted in a 1.8-point increase in load factor to an August record 88.3 percent. Alaska also reported that 90.8 percent of its flights arrived on time in August 2011, compared to the 88.8 percent reported in August 2010.
Bombardier today reported its financial results for the second quarter ended July 31, 2011. This is the second interim reporting period under IFRS*. Revenues increased by 17% to reach $4.7 billion, compared to $4 billion for the corresponding period last fiscal year.
Finnair is proceeding with the planning of savings targets, announced earlier in connection with the second-quarter interim report. As reported at the beginning of August, Finnair is seeking annual cost savings of 140 million euros by 2014 to halt losses.
“When reporting our interim result for the first six months of the financial year in February, we gave a positive view about the prospects for our full year performance. Within a couple of weeks of that, the dual effects of the Christchurch and Japan earthquakes caused us to update our outlook for the second half, says Chairman John Palmer.
The Qantas Group today announced Underlying Profit Before Tax (Underlying PBT) of $552 million for the financial year ending 30 June 2011.
Virgin Australia group of airlines (Virgin Blue Holdings Limited (ASX: VBA) and its controlled entities) today reported a Net Result After Tax of $67.8 million loss. The Net Result before Tax (excluding ineffective hedges) of ($66.6m) is within the guidance of ($30m) to ($80m) announced to the market on 23 March 2011. This result includes $36m in unrealised foreign exchange loss due to the rising Australian Dollar.
Lockheed Martin Corporation [NYSE: LMT] has entered into a definitive agreement to acquire QTC Holdings Inc. Terms of the agreement were not disclosed.
Key ratios April-June 2011.
At the International Aviation and Space Salon MAKS-2011 Sukhoi Civil Aircraft Company and Indonesian regional carrier PT Sky Aviation signed the contract for the purchase of 12 Sukhoi Superjet 100/95B aircraft.
Airbus has signed a Memorandum of Understanding (MOU) with leading Russian leasing company, VEB-Leasing, on cooperation in aviation leasing and finance. The MoU was signed on the occasion of the International Aviation and Space Salon MAKS-2011 by Christopher Buckley, Executive Vice-president Europe, Asia and the Pacific and Vyacheslav Soloviev, General Director, VEB-Leasing.
Boeing (NYSE: BA) and Air Lease Corporation (ALC) have finalized an order for 14 Next-Generation 737-800s, with options for four more, and five 777-300ER (extended range) airplanes. It was previously posted on the Boeing Orders & Deliveries website, attributed to an unidentified customer.
AMR Corporation, the parent company of American Airlines, Inc., announced today that its subsidiary, AMR Eagle Holding Corporation, has filed a Form 10 Registration Statement with the U.S. Securities and Exchange Commission.
Boeing (NYSE: BA) and Cathay Pacific Airways today announced the Hong Kong-based carrier has ordered eight Boeing 777 Freighters and four 777-300ER (extended range) airplanes. The order is valued at $3.3 billion at list prices. With this announcement, Cathay Pacific becomes the 15th customer to order the 777 Freighter and increases its Boeing 777-300ER fleet to 50.
International Airlines Group today (July 29) presented Group consolidated results for the six months ended June 30, 2011. In addition, IAG presented combined results for the six months ended June 30, 2011 including Iberia's first 21 days of January.
Cebu Pacific of the Philippines has finalised a firm order with Airbus for the purchase of 30 A321neo aircraft. The contract firms up a previously announced MOU signed in June. With this latest purchase agreement the fast-growing carrier has increased its total firm orders for the A320 Family to 71, of which 16 have already been delivered. The airline currently operates 25 A320 Family aircraft, including the 16 purchased from Airbus and nine leased aircraft.
Southwest Airlines Co. (NYSE: LUV) (the "Company") today reported second quarter 2011 net income of $161 million, or $.21 per diluted share, compared to net income of $112 million, or $.15 per diluted share, for second quarter 2010. Operating income was $207 million for second quarter 2011, compared to $363 million for second quarter 2010. The 2011 results include the results of AirTran since the May 2, 2011, acquisition date. Prior periods do not include AirTran's results.
Boeing (NYSE: BA) and GE Capital Aviation Services (GECAS), the commercial aircraft leasing and financing arm of General Electric (NYSE: GE), have finalized a firm order for two 747-8 Freighters and eight 777-300ERs (extended range) airplanes.