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Garuda Indonesia reports sharp increase in profits

AVIC Aircraft Swings to 122 Million Yuan Loss in First Three Quarters

AVIC Aircraft Co., Ltd. said Monday it lost 122 million yuan in the first three quarters ended September 30, compared with a net profit of 46.53 million yuan in the same period last year. The company said the net profit loss was mainly contributed to the decreasing delivery of aviation...

InterGlobe Aviation: Risk takers can board this flight

The initial public offer (IPO) by InterGlobe Aviation could have been an open-and-shut buying opportunity for investors. The company operates IndiGo Airlines — the country’s largest and most profitable air carrier. The airline seems set to continue its strong growth in the high-potential...

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 Parker said Friday on a conference call as analysts questioned the strategy. "We will need to comp...

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 Capability standard by investing in the best and brightest new entrants in the space. This week, at IAT...

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...

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Top of the week

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...