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American Digs in with Vow to Fight Discounters on Airfares

American Airlines Group Inc. reiterated a vow to keep matching discount rivals' ticket prices, extending the domestic fare wars that are sapping revenue. "We know what we're doing and we're extremely comfortable in what we're doing," Chief Executive Officer Doug Par...

Executive Travel App gets first NDC Innovation Fund investment

Last fall, the International Air Transport Association (IATA) put out a call to all travel startups, alerting them that it had partnered with investment firm Travel Capitalist Ventures to create an ‘NDC Innovation Fund’ to accelerate use of the association's New Distribution Capabili...


Southwest Airlines, 63.1% increance in net income in Q3, 2015

Southwest Airlines Co. reported its third quarter 2015 results Gary C. Kelly, Chairman of the Board, President, and Chief Executive Officer, stated, "We are very pleased to report outstanding third quarter 2015 results marked by a 63.1 percent year-over-year increase in net income, excluding special items. Our record third quarter operating income, excluding special items, of $1.0 billion...

Alaska Air Group, 39% increase in net income in Q3, 2015

Alaska Air Group, Inc., reported third quarter 2015 GAAP net income of $274 million, or $2.14 per diluted share, compared to $198 million, or $1.45 per diluted share in the third quarter of 2014. Excluding the impact of mark-to-market fuel hedge adjustments of $5 million ($3 million after tax, or $0.02 per diluted share), the company reported record adjusted net income of $277 million, or $2.16...

United Airlines' acting CEO aims to reassure investors amid strong results

United Airlines on Thursday tried to dismiss concerns that executive shake-ups have left an amateur team running its business, promising better service for travelers and moderate expansion in 2016 for investors worried about weak demand. Shares of parent United Continental Holdings Inc. rose more than 2 percent after it forecast a pre-tax profit margin of up to 11.5 percent in the fourth q...

Aeroflot clarifies position with respect to Transaero equity capital

On Wednesday, a report appeared on the TASS newswire, citing Aeroflot’s Chairman of the Board Kirill Androsov, that the Board of Directors would consider acquiring a stake in Transaero if the new owners make such a proposal. Aeroflot notes that while technically, the TASS journalist reported Mr. Androsov’s words accurately and without distortion, it wishes to cla...

IndiGo seeks $500 million from IPO

Indian low-cost carrier (LCC) IndiGo is looking to raise up to $500 million in its upcoming IPO to cut its debt and fund its recent $26 billion aircraft order. Slated for end October, the IPO will place some 12% of the company's shares into the market. IndiGo president Aditya Ghosh said the offering would help the airline capitalize on its previous successes in the competitive domestic...

Boeing profit rises 25% as it delivers more jets

Aircraft maker Boeing has reported a 25% rise in quarterly profit, helped by an increase in deliveries of commercial aircraft. The world's largest maker of passenger jets earned $1.70bn (£1.1bn) for the July-to-September period, up from $1.36bn a year ago. Revenue rose by about 9% to $25.85bn, with commercial aircraft deliveries up 7% to 199. The Chicago-based company also...

S7 CEO buys Transaero

CEO of Russia’s S7 Group, Vladislav Filev, has bought "at least 51% of shares" of distressed Transaero airline from its majority shareholder, Alexander Pleshakov. Announcing the deal, Filev did not disclose who the other investors are or what the value of the transaction is. He did however, underscore that it was "significantly more than 1 Rouble" - a slight at Aeroflo...

S7 Airlines Co-Owner Filyov Agrees to Buy Control of Transaero

S7 Airlines co-owner Vladislav Filyov agreed to buy control of Russia's second-largest carrier, Transaero Airlines, after state-run Aeroflot PJSC declined to bail out its indebted competitor. Filyov signed an agreement today to buy at least 51 percent of Transaero from Alexander Pleshakov, S7's spokesman said by phone. S7's Siberia Airlines is Russia's third-largest air car...

Airline business rollercoaster – do banks really know what they sign up for?

Several thousand at Air France, six thousand at Malaysian Airlines and almost 11,000 at Transaero - these are the potential job cuts to be carried out by these major world carriers. This once again comes to show that airline business always balances on a fragile edge between profit and loss. However, if a carrier reaches an extreme point of bankruptcy, what awaits its financial partners? Will the...

Honeywell, $9.6b sales in Q3, 2015

Honeywell announced results for the third quarter of 2015 “Honeywell delivered another strong quarter of earnings growth and exceptional margin expansion,” said Honeywell Chairman and CEO Dave Cote.  “On 1% core organic sales growth, segment margins expanded 190 basis points driven by new product introductions, our key process initiatives including HOS Gold, continue...

Bank of China Votes for IPO of Aviation Leasing Unit in HK

Bank of China Ltd, the country's fourth biggest commercial bank, has voted to spin off its aviation leasing unit in a Hong Kong share sale, the lender said in a statement to the Shanghai Stock Exchange. BOC Aviation Pte Ltd will raise funds by selling no more than 40 percent of the firm through a listing of new and old shares on the main board of the Hong Kong Stock Exchange, the statement...

BOC Aviation signs agreement to sell 24 aircraft

BOC Aviation signed an agreement to sell a portfolio of 24 aircraft to Shenton Aircraft Investment I Ltd. and affiliates (“SHNTN 2015-1”). To finance a portion of the purchase of the aircraft portfolio, SHNTN 2015-1 has issued two tranches of notes, comprising US$747.4mn of 4.75% Series A notes (A, Standard & Poor’s / Fitch Ratings) and US$60.5m of 5.75% Series B notes (BBB,...

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Essential news

First airBaltic bond coupon is paid

In accordance with the bond calendar outlined in the final prospectus of the bond issue, the Latvian airline airBaltic on July 23, 2020 has made the first bond coupon payment to its inv...

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First airBaltic bond coupon is paid

In accordance with the bond calendar outlined in the final prospectus of the bond issue, the Latvian airline airBaltic on July 23, 2020 has made the first bond coupon payment to its inv...