Category: Financial

United Airlines (UAL) has reported its first-quarter 2018 financial results. UAL reported first-quarter net income of US$147m, pre-tax earnings of US$184m and pre-tax margin of 2.0%. Excluding special charges and mark-to-market adjustments, UAL reported first-quarter net income of US$143m, pre-tax earnings of US$179m and pre-tax margin of 2.0%. UAL has repurchased US$747m of its common shares year-to-date through April 16, 2018, representing approximately 4% of its shares outstanding as of year-end 2017. Consolidated passenger revenue per available seat mile (PRASM) increased 2.7% year-over-year. Consolidated total revenue per available seat mile (TRASM) increased 3.4% year-over-year. Consolidated unit cost per available seat Read more

Boeing has made an investment in Reaction Engines, a leader in advanced propulsion systems based in Oxfordshire, United Kingdom. Reaction Engines’ technology will contribute to the next generation of hypersonic flight and space access vehicles. Reaction Engines is known for its Synergetic Air-Breathing Rocket Engine (SABRE), a hybrid engine blending jet and rocket technology that is capable of Mach 5 in air-breathing mode and Mach 25 in rocket mode for space flight. As part of the SABRE program, Reaction Engines developed an ultra-lightweight heat exchanger that stops engine components from overheating at high speeds, thus improving access to hypersonic flight Read more

Delta Air Lines has reported financial results for the March quarter 2018. Adjusted pre-tax income for the March 2018 quarter was US$676m, a US$104m decrease from the March 2017 quarter, as record revenues were offset by higher fuel prices and other increased costs including a US$44m impact from severe winter weather. Delta’s adjusted operating revenue of US$9.8bn for the March quarter improved 8%, or US$715m versus the prior year. This revenue result marks a March quarter record for the company, and was driven by improvements across Delta’s business, including a 23% increase in cargo revenue and a US$78m increase in Read more

GECAS and its wholly owned subsidiary, PK Air Finance have concluded a significant aircraft financing transaction covering a total of 51 aircraft operated by Lion Air Group, GECAS’ largest customer Southeast Asia. The financing covers 21 Boeing 737-900ER’s currently operated by Lion Air and 30 aircraft on order by Lion Air, including Boeing 737 MAX 8’s and 9’s as well as the Airbus A320/A321neo.

Qatar Airways, the national airline of the State of Qatar and JetSuite, a U.S. private aviation company, has taken a minority stake in JetSuite, and indirectly in JetSuiteX. Qatar Airways joins JetBlue Airways, which will be increasing its investment and a number of private investors as stakeholders in both JetSuite and JetSuiteX. With this investment in JetSuite, Qatar Airways will help fuel the growth of JetSuite’s private aviation business, which currently focuses on light and very light jets. The investment extends to JetSuiteX, the sibling company to JetSuite, further accelerating the expansion of its acclaimed semi-private air service on the Read more

In 2017, the Liebherr Group achieved the highest turnover in the Group’s history, with total sales of € 9,845 million. Compared to the previous year, the family-run company increased its revenue by 9.3%. The Group is expecting further sales growth for 2018. The Liebherr Group posted a net result of €331m for the year. Compared to the previous year, this represents an increase of €33m or 11.1%. In the reporting year, there was a significant improvement in the operating result. Following the positive effects of currency movements in the previous year, the financial result, on the other hand, fell sharply.

IAG, parent company of British Airways and Iberia, has acquired a 4.61% ownership position in Norwegian Air Shuttle ASA (Norwegian). IAG said that it considers Norwegian to be an attractive investment and that it intended to establish a position from which to initiate discussions with Norwegian, including the possibility of a full offer for Norwegian. At the same time IAG made it clear, that no such discussions have taken place to date and that it has taken no decision to make an offer at this time.

Universal Avionics Systems Corporation (UA) has completed its acquisition by Elbit Systems. As a wholly-owned subsidiary of Elbit Systems, the company will lead commercial sales in North America for Elbit Systems’ Aerospace Division’s Commercial Aviation Business Line. “Combining our product offering with Elbit Systems’ strengthens our position in the market,” said Paul DeHerrera, UA Chief Executive Officer. “Our vision is to be the premier cockpit avionics supplier for the commercial aviation market, providing a fully-integrated ‘heads-up’ and ‘heads-down’ experience for pilots by combining Elbit’s commercial HUD (Head-up Display) technology with UA’s FMS and display systems,” he added. “Our complete solution Read more