Reading Time: 3 minutes Austrian Airlines generated considerably higher earnings than expected in the first half of 2017. Earnings before interest and taxes (EBIT) totaled EUR 8 million, comprising a year-on-year rise of EUR 6 million. Adjusted EBIT, the relevant indicator for the 2017 forecast which deducts valuation gains from aircraft sales, climbed to EUR 3 million in the […]

Reading Time: < 1 minute Boeing has reported strong earnings and operating cash flow in the second quarter of 2017, driven by improved operating performance. Second-quarter GAAP earnings per share increased to US$2.89 and core earnings per share (non-GAAP) increased to US$2.55. Revenue was US$22.7bn, reflecting planned production rates and timing of commercial and defense aircraft deliveries. Operating cash flow […]

Reading Time: 2 minutes A new analysis from forensic accountants on behalf of the Partnership for Open & Fair Skies has revealed that Etihad Airways suffered a $2.06 billion operating loss in 2015, even as the airline received $1.7 billion in new subsidies from its government. The accountants also discovered that Etihad had an operating loss of $1.4 billion […]

Reading Time: < 1 minute When China Airlines received its seventh A350 XWB, the carrier took possession of the 100th jetliner delivered from this newest family in Airbus’ industry-leading widebody product line. The milestone aircraft is an A350-900 version, joining China Airlines’ growing A350 XWB fleet – adding to the line-up of widebody A330s and A340s flown by the long-time […]

Reading Time: < 1 minute Ryanair has posted a 55% rise in first quarter profit to €397m. This result is distorted by the timing of Easter in the first quarter, with no holiday period in the prior year comparative. Traffic grew 12% to 35m as Ryanair’s lower fares and “Always Getting Better” (AGB) programme delivered a record 96% load factor. […]

Reading Time: < 1 minute Oman Air is looking to grow flights into India, but the carrier’s plans don’t include buying any stakes in airling Air India. CEO Paul Gregorowitsch said the Gulf’s history with buying stakes in legacy airlines hasn’t born fruit. “As a businessman, you are far more eager to participate with a profit-making airline and not having […]

Reading Time: < 1 minute Italy’s Alitalia has received around 10 non-binding offers for total or partial take-over, including from UAE national carrier Etihad Airways and budget airline Ryanair. The deadline for the loss-making company to receive non-binding offers was 6:00 pm local time (1600 GMT). Alitalia, which has struggled to compete with low-cost rivals including Ryanair, went into administration […]

Reading Time: 2 minutes To increase geographical presence, decrease competition, accelerate expansion – just a few reasons why companies choose business acquisition as an inorganic mode of expansion. With yearly worth of worldwide mergers and acquisitions topping €41 billion it’s only natural that increasing number of deals has been recorded and anticipated in the aviation industry as well. With […]

Reading Time: < 1 minute UK low-cost carrier easyJet has announced that Carolyn McCall will step down as CEO around the end of 2017 to lead UK television company ITV. The airline said McCall will continue with her existing responsibilities; the search for her successor is already underway. “This was a really difficult decision for me to make,” McCall said. […]

Reading Time: < 1 minute Air Zimbabwe, the national carrier of the southern African nation, has reportedly made almost half of its 400-plus staff redundant as it battles chronic financial problems. The Zimbabwe flag carrier has been in a perilous position for years, with debts estimated at $330 million. Its fleet has shrunk to just a few aircraft. The Harare-headquartered […]