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Chinese Major Airlines 3Q Profits Hit by Yuan Weakness

China's four major carriers achieved an accumulated net profit of 20.97 billion yuan in the first nine months of this year, while all of them posted declines for the third-quarter profit due to exchange losses resulting from yuan depreciation. China Southern Airlines (CZ), the natio...

Former China Aircraft Leasing Chief Seen in Hong Kong Six Months After

Former China Aircraft Leasing Group chief executive Mike Poon Ho-man has mysteriously resurfaced in Hong Kong after being missing for six months, adding a new twist to a deepening graft probe that has just netted the top boss of China Southern Airlines. Poon, who went off the radar in June w...

Turkish Airlines recorded 8 billion 54 million USD sales revenue

Turkish Airlines nine months 2015 consolidated financial statements were reported to Borsa Istanbul. According to the audited IFRS USD financial statements, compared to the same period of 2014, Turkish Airlines sales revenue decreased by 6 percent and stood at 8 billion 54 million USD. Turkish Airlines disclosed an operating profit of 1 billion 27 million USD and a ne...

767 Freighter Leases Drive ATSG Revenue Growth

Air Transport Services Group, Inc. (Nasdaq: ATSG), the leading provider of medium wide-body aircraft leasing, air cargo transportation and related services, today reported consolidated financial results for the quarter ended September 30, 2015. Results for the third quarter of 2015, compared with the third quarter of 2014, are as follows: Revenues increased three percent to $142.3 milli...

German Investor for airBaltic

The Latvian Cabinet of Ministers has approved plans to sell 20% of airBaltic to German investor Ralf Dieter Montag-Girmes for EUR 52 million and agreed to invest a further EUR 80 million in the airline. The total of EUR 132 million of fresh capital for the Latvian carrier will spur its Horizon 2021 business plan and fleet modernisation. Ralf Dieter Montag Girmes, G...

Latvia sells 20% stake in Air Baltic to German investor

Following lengthy deliberations, the Latvian government has agreed to sell a 20% stake in Air Baltic(BT,Riga) to German investor Ralf Dieter Montag-Girmes for EUR52 million (USD57.2 million). The official LETA news service says that alongside Montag-Girmes' investment, government will shore up the carrier's coffers with an EUR80 million (USD88 million) loan from the Latvian central bank...

Virgin Australia back into profit in first quarter of 2015/16

Virgin Australia says it is on track for a full year profit in 2015/16 after improved yields and lower costs moved the airline back into the black during the first quarter of the current financial year. The company on Thursday reported statutory net profit after tax for the three months to September 30 2015 of $1.7 million, bouncing back into profitability following a $59.1 million statutory lo...

Jazeera Airways Group announces Q3 earnings, reports 11.7% rise in year-to-date net profit

Jazeera Airways today announced its third quarter financial results. The company recorded a 2.4% rise in net profit for the quarter, bringing its nine-month net profit to KD14.5 million, reflecting an 11.7% increase over the same period last year. Q3 Financial Highlights: ● Operating revenue: KD21.0 million, less 0.9% from Q3 2014 ● Operating profit: KD8.5 million, up 14.9% from Q3 2014...

WestJet reports record third quarter 2015 net earnings

WestJet today announced its third quarter 2015 results, with record net earnings of $101.8 million, or $0.82 per diluted share, as compared with the adjusted net earnings1 of $85.4 million, or $0.66 per diluted share reported in the third quarter of 2014, up 19.2 per cent and 24.2 per cent, respectively, notwithstanding the significant weakening of the Canadian dollar year over year and...

Profit almost doubles at Emirates subsidiary Transguard

Full-year profits at the Emirates subsidiary Transguard Group nearly doubled, as the company reaped the benefits from Dubai International becoming the world’s busiest international passenger airport. The company reported yesterday that profits for the year to March grew 96 per cent to Dh106.6 million, up from Dh54.3m the previous year. Revenue meanwhile rose 34 per cent from a year earlie...

Falko Regional Aircraft Raises $415m, Exceeds Target

Falko Regional Aircraft Limited (“Falko” or the “Company”), a market leading aircraft operating leasing and asset management company, announces that it completed a $415 million capital raising to be used for investments in leased, regional aircraft globally. The Company significantly surpassed its original target of $300 million. Falko received commitments from a diverse...

Ryanair Lifts Profit Forecast On Fuller Planes

Ryanair has nudged up its annual profit forecast, saying fuller planes would take profits to the upper end of its previously estimated range even as winter competition pressures average ticket prices. The Irish airline, Europe's largest by passenger numbers, raised its full-year profit forecast by 25 percent in early September as lower fuel costs and poor weather in northern Europe boosted...

Juneyao Airlines Posts 122.5% Net Profit Growth in Jan.-Sep.

Shanghai Juneyao Airlines (HO) said on Saturday its operating revenue jumped 22.98 percent from a year earlier in the first nine months thanks to lower fuel price and robust travel demand. Juneyao Airlines made 6.26 billion yuan in January-September, in line with its own forecast. Net profit attributable to shareholders surged 122.51% to 0.97 billion yuan in the first three quart...

Spring Airlines 9-Month Net Profit Soars 83% to 1.2 Billion Yuan

China's largest low-cost carrier Spring Airlines (SC) reported on Saturday that its operating revenue for the first three quarters jumped 13% from a year earlier to 6.33 billion yuan. The budget airline's net profit attributable to shareholders surged 83% to 1.20 billion yuan in the first nine months, the carrier said in its nine-month result. Basic earnings per share stood at...

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Samson Sky secures $80 million to launch switchblade flying car production

Samson Sky, developer of the Switchblade Flying Car, announced it has secured an $80 million investment from Dubai‑based Matin Group. According to Sam Bousfield, CEO, Founder...

Kepplair Evolution accelerates its growth with a new €6 million funding round, bringing the total funding raised to €17.5 million

Kepplair Evolution, just days after completing the first pre‑modification flights of its prototype aircraft, has announced the closing of a new €6 million funding round — bringing total fin...