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Finnair air traffic volume grew significantly, particularly on Asian and North American long-haul flights. There is once again overcapacity in the industry, as our competitors, like Finnair, prepare for expected growth in traffic. Our overall load factor was therefore significantly lower than in Q1 in 2010.
The Boeing Company (NYSE: BA) reported first-quarter net income of $0.6 billion, or $0.78 per share, on revenue of $14.9 billion. Operating margin of 6.7 percent reflects strong core performance across the company's businesses on expected lower volumes and higher pension expense. The year-ago quarter included a $0.20 per share tax charge on health care legislation (Table 1). The company also reaffirmed its 2011 revenue, earnings per share and operating cash flow outlook.
TEMPE, Ariz., Apr 26, 2011 (BUSINESS WIRE) -- US Airways Group, Inc. (NYSE: LCC) today reported its first quarter 2011 financial results. The Company reported a net loss excluding special items for the first quarter 2011 of $110 million, or ($0.68) per share. This compares to the first quarter 2010 net loss excluding special items of $89 million, or ($0.55) per share. On a GAAP basis, the Company reported a net loss for the first quarter 2011 of $114 million, or ($0.71) per share. This compares to the first quarter 2010 net loss of $45 million, or ($0.28) per share.
General Dynamics (NYSE: GD) today reported first-quarter 2011 earnings from continuing operations of $618 million, or $1.64 per share on a fully diluted basis, compared with 2010 first-quarter earnings from continuing operations of $599 million, or $1.54 per share fully diluted. Revenues increased over the year-ago period to $7.8 billion.Net earnings for the first quarter of 2011 were $618 million, compared to $597 million in the first quarter of 2010.
Southwest Airlines (NYSE: LUV) said today it intends to close on its transaction to acquire AirTran Holdings, Inc. (NYSE: AAI), on May 2, 2011. Upon close, Southwest also said it anticipates that Bob Jordan, Southwest's Executive Vice President Strategy and Planning, will be appointed as President of AirTran Airways to help guide AirTran through its integration with Southwest.
TEMPE, Ariz., Apr 21, 2011 (BUSINESS WIRE) -- US Airways (NYSE: LCC) today filed a federal civil antitrust lawsuit in the Southern District of New York against Sabre Holdings Corp. to halt anticompetitive and anticonsumer practices, as well as recover monetary damages.
AMR Corporation Reports 1Q 2011 Net Loss of $436 Million Compared to a Net Loss of $505 Million in 1Q 201021. april. 2011 13:21 | Business
FORT WORTH, Texas, April 20, 2011 /PRNewswire/ -- AMR Corporation (NYSE: AMR), the parent company of American Airlines, Inc., today reported a net loss of $436 million for the first quarter of 2011, or $1.31 per share. The first quarter 2011 results include the impact of approximately $31 million in one-time non-cash charges related to certain sale/leaseback transactions. Excluding this special item, the Company incurred a loss of $405 million for the first quarter of 2011, or $1.21 per share.
"Despite significantly higher fuel prices, we are pleased to report a profit in the first quarter," said Dave Barger, JetBlue's President and Chief Executive Officer. "Our first quarter results demonstrate the success of our Boston and Caribbean network which continue to deliver strong revenue performance and the focus brought by our 13,000 crewmembers to deliver a great JetBlue Experience."
Southwest Airlines (NYSE: LUV) today reported first quarter 2011 net income of $5 million, or $.01 per diluted share, compared to net income of $11 million, or $.01 per diluted share, for first quarter 2010. Both periods' results included special items related to non-cash, mark-to-market, and other items associated with a portion of the Company's fuel hedge portfolio.
CHICAGO, April 21, 2011 - United Continental Holdings, Inc. (NYSE: UAL) today announced first-quarter 2011 financial results. UAL results for the first quarter include the financial results of its two operating subsidiaries, United Airlines and Continental Airlines. Prior to the merger on Oct. 1, 2010, UAL results included only the financial results of United Airlines. Pro forma results that consolidate the financial results for Continental for first-quarter 2010 are included for meaningful year-over-year comparisons.
“We remain guardedly optimistic about a recovery in new business jet demand this year, but the path is a winding one and data points are mixed,” JPMorgan aerospace analyst Joseph Nadol III said in his firm’s latest monthly business jet report, released late last week. “In March, for example, used inventory ticked up for the first time since October.
Despite charter flight demand continuing to rise over the past month, flight-hour rates have softened. According to the latest forward-looking index from online charter portal Avinode, projected demand for the 30 days beginning April 4 stood at 123.74–more than eight percentage points higher than a month ago and some 43 points above the index 12 months earlier.
Qatar Airways and Boeing have announced a deal valued at $1.4 billion for five new 777 aircraft, including 2 777-300ERs and 3 777 Freighters, pushing the carrier's lifetime 777 order total to 34 aircraft.
Norwegian Air Shuttle has picked the Rolls-Royce Trent 1000 to power its Boeing 787-8s.
Russia is to acquire two Airbus A319 Corporate Jetliners for its government air service, Rossiya for Rb6.7 billion ($237.6 million), the first time it has purchased large foreign aircraft for the company.
Japan Airlines exited bankruptcy today, after the Tokyo District Court found that JAL had repaid more than two thirds of the monetary claims listed in a reorganization plan.
Across China, airports are being expanded, airline traffic is booming and civil aircraft development is moving ahead, but that seems to be not enough for Beijing, which is according the sector high priority in a new national five-year economic plan.
Brazilian airframer Embraer has posted a 29% fall in full-year net profit in 2010 to $330.2 million, but says it expects recovery to continue in the market in 2011.
February proved to be another month of growth for Brazil’s commercial aviation sector, with startups posting strong year-on-year gains in traffic and capacity and GOL Linhas Aéreas Inteligentes claiming the market share title from rival TAM in terms of domestic revenue passenger kilometers.
As major manufacturers fight for their definition of what future 100-200-seat, single-aisle aircraft will look like, they at least have the advantage of talking to an industry that has access to low-interest loans and financiers impressed with the discipline airlines showed in bouncing back from the global recession.