American Airlines to take minority ownership in JetSmart

Amerikan to take minority ownership in JetSMART ©AA

American Airlines and JetSMART, an ultra-low-cost carrier with principal operations in Chile and Argentina, have signed a letter of intent to create a broad network and a rewarding customer offering in the Americas. This proposed partnership would uniquely tie together the full-service, global presence of American with the complementary network of JetSMART in South America to offer competitive fares and expanded travel options for flyers throughout North and South America. JetSMART is a portfolio airline of Indigo Partners, one of the world’s premier developers of new generation ultra-low-cost airlines. JetSMART operates a modern fleet of Airbus A320 aircraft and offers Read more

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Boeing posts profit for first time in nearly two years – anticipated staffing cuts on hold

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Boeing Co’s shares rose 5% on the news that the American planemaker posted a first-quarter profit, the first in approaching two years. The company had been severely hit by two major crises, the COVID-19 pandemic and the grounding of its 737 MAX jet. As a consequence, previous plans to trim down the company’s workforce by 10,000 by the end of 2021 has been put on hold. With the 737 MAX taking to the skies once again, Boeing has still to overcome the costly hurdle of China’s failure to approve the latest solutions to identified safety problems. China had become a Read more

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Airbus reports first-half 2021 results

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Airbus has reported consolidated financial results for the half-year (H1) ended June 30, 2021. Consolidated revenues increased 30% year-on-year to €24.6 billion (H1 2020: €18.9 billion), mainly reflecting the higher number of commercial aircraft deliveries compared to H1 2020. A total of 297 commercial aircraft were delivered (H1 2020: 196 aircraft), comprising 21 A220s, 237 A320 Family, seven A330s, 30 A350s and two A380s. Revenues generated by Airbus’ commercial aircraft activities increased 42%, largely reflecting the increased deliveries. Airbus Helicopters delivered 115 units (H1 2020: 104 units) with revenues up 11%% reflecting growth in services and higher volume in civil Read more

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Hawaiian Airlines posts US$6.2 million net loss in second-quarter of 2021

Hawaiian Airlines ©AirTeamImages

For the second quarter of 2021, Hawaiian Airlines has reported a net loss of US$6.2 million, and an adjusted net loss of US$73.8 million. The company reported total revenue of US$410.8 million, down 42% compared to the second quarter of 2019, on 30% lower capacity. Total operating expenses was US$392.3 million, and operating expenses excluding non-recurring items was US$478.4 million, down 23% compared to the second quarter of 2019. In the second quarter of 2021, the company continued to rebuild and expand its network, primarily in North America . In June 2021 , Hawaiian’s North America traffic exceeded June 2019 Read more

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JetBlue announces second quarter 2021 results

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JetBlue Airways has reported its results for the second quarter of 2021: The airline reported GAAP diluted earnings per share of US$0.20 in the second quarter of 2021 compared to diluted earnings per share of US$0.59 in the second quarter of 2019. Adjusted loss per share was US$0.65 in the second quarter of 2021 versus adjusted diluted earnings per share of US$0.60 in the second quarter of 2019. JetBlue reported GAAP pre-tax earnings of US$57 million in the second quarter of 2021, compared to a pre-tax income of US$236 million in the second quarter of 2019. Excluding one-time items, adjusted Read more

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Air Canada reports second-quarter net loss of CA$1.165 billion

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Air Canada has released its operational results for the second quarter of 2021. The carrier recorded a net loss of CA$1.165 billion in the second quarter of 2021 compared to a net loss of CA$1.752 billion for the same quarter in 2020. In the second quarter of 2021, on a year-over-year capacity increase of 78%, operating expenses of CA$1.970 billion decreased CA$112 million or five% compared to the same quarter in 2020. Net cash flows for operating activities of CA$1.377 billion deteriorated by CA$126 million from the same quarter in 2020 resulting from a decrease in cash from working capital, Read more

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Ryanair posts first quarter net loss of €273 million

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COVID-19 continued to wreak havoc on Ryanair’s business during the first quarter of 2021, with most Easter flights cancelled and a slower-than-expected easing of EU Government travel restrictions into May and June. Significant uncertainty around travel green lists (particularly in the U.K.) and extreme Government caution in Ireland meant that first-quarter bookings were close-in [DD1] and at low fares.  The July 1 rollout of EU Digital COVID Certificates (DCCs) and the scrapping of quarantine for vaccinated arrivals to the U.K. from mid-July has seen a surge in bookings over recent weeks.  Pricing remains below pre COVID-19 levels. First-quarter scheduled revenue increased 91% Read more

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American Airlines reports record liquidity in second-quarter 2021 results

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American Airlines (American) has released its financial results for the second quarter of 2021 in which it has posted a net profit of US$19 million. However, excluding net special items, the net loss for the quarter was -US$1.1 billion on a second-quarter revenue of US$7.5 billion, an 87% increase on the year’s first quarter. The Company recognized US$1.4 billion of net special credits before the effect of taxes in the second quarter of 2021 principally related to the financial assistance received pursuant to Payroll Support Program Agreements. American ended the second quarter with approximately US$21.3 billion of total available liquidity, Read more

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BAA Training secures €31 million financing for global expansion

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BAA Training has announced it will be getting financing for its global expansion provided by U.K. Export Finance (UKEF) and U.S. Apple Bank for Savings. Two companies belonging to Avia Solutions Group (ASG) – BAA Training and ASG Asset Management – were involved in signing the agreements with the financial institutions. The deal, worth €31 million (US$36.5 million), is one of the most significant agreements for the Lithuania-based company throughout its existence. It will facilitate the acquisition of ten new simulators used for aviation training manufactured by L3Harris Technologies, two Boeing 737 MAX full-flight simulators (FFSs) and eight fixed-base training Read more

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Platinum Equity to acquire global aerospace supply chain services provider Unical Aviation

Platinum Equity has signed a definitive agreement to acquire Unical Aviation Inc. and certain of the company’s affiliates (Unical), a leading provider of aircraft parts and components to the global commercial aerospace market, from affiliates of the company’s founders. The acquisition includes Unical Aviation, Unical MRO, Unical 145, and Unical Aero. Unical Defense Inc., an affiliate that serves government defense contracts, is not included in the sale to Platinum Equity. The transaction is expected to close during the third quarter of 2021. Financial terms were not disclosed. Platinum Equity, a Los Angeles-based global investment firm with more than US$25 billion Read more

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