Reading Time: 2 minutes United Parcel Service (UPS) reported a 2016 net profit of $3.4 billion, down 29.2% from net income of $4.8 billion in 2015, on a 4.4% year-over-year rise in revenue to $60.9 billion. UPS noted that it recorded a non-cash after-tax mark-to-market pension charge of $1.7 billion in the 2016 fourth quarter, which significantly affected its […]

Reading Time: < 1 minute United Airlines parent United Continental Holdings reported a full-year 2016 net profit of $2.3 billion, down 69.2% from net income of $7.3 billion in 2015. However, Chicago-based United’s 2015 earnings included a one-time $3.1 billion non-cash tax valuation benefit that skews year-over-year comparisons, especially since 2016’s earnings include a one-time tax expense of $1.5 billion. […]

Reading Time: < 1 minute Russia’s Aeroflot Group will carry 43.5 million passengers in 2016, up 10.4% year-over-year (YOY), Aeroflot Airline CEO Vitaly Savelyev at the group’s community board meeting. According to a group statement, its low-cost subsidiary Pobeda Airlines has strengthened its position this year. The Moscow Vnukovo-based airline is projected to carry 4.2 million passengers in 2016, up […]

Reading Time: < 1 minute Russian airlines carried 7.7 million passengers in October, up 4% year-over-year (YOY), according to Russia’s Federal Air Transport Agency, Rosaviatsia. International traffic was down 1.8% to 3 million passengers, while domestic traffic grew 8.2% to 4.6 million passengers. In the January-October period, Russian airlines carried 75.3 million passengers, down 6.8% YOY. Aeroflot carried 24.3 million […]

Reading Time: < 1 minute Virgin America reported a $51.8 million net profit for the 2016 third quarter, down 27.9% from a $71.9 million net profit in 3Q 2015. During the quarter, the San Francisco-based carrier reportedly incurred $1.6 million in legal and professional costs related to the merger agreement with Seattle-based Alaska Air Group. Virgin America’s stockholders approved the […]