Category: Financial

Finnair has reported that full year 2018 revenue increased by 10.4% to €2,834.6 million. Available seat kilometres grew by 14.8% and the passenger load factor was 81.8%, down 1.5 points compared to full year 2017. Comparable operating result was €169.4 million compared to €170.4 million in 2017. Operating result was €207.5 million compared to €224.8 million compared to full year 2017. Net cash flow from operating activities was €383.1 million and net cash flow from investing activities was €-194.0 million. Unit revenue decreased by 3.9%. Unit revenue at constant currency decreased by 2.6%.

Air Canada has reported full year 2018 EBITDAR of CA$2.851 billion compared to full year 2017 record EBITDAR of CA$2.928 billion.  Air Canada reported an EBITDAR margin of 15.8%, in line with its projections.  Air Canada reported 2018 operating income of CA$1.174 billion compared to 2017 operating income of CA$1.371 billion.  Adjusted pre-tax income amounted to CA$952 million in 2018 compared to adjusted pre-tax income of CA$1.165 billion in 2017.  On a GAAP basis, the airline reported net income of CA$167 million in 2018 compared to net income of CA$2.029 billion in 2017.  The decrease of CA$1.862 billion in net Read more

In 2018, Bombardier Commercial Aircraft significantly reshaped its portfolio, focusing on the CRJ Series program and its aftermarket business, while also participating in the growth of the A220 through its partnership with Airbus. The C Series Partnership (CSALP) with Airbus closed on July 1, 2018, bringing together two complementary product lines and the benefit of Airbus’ global reach, creating significant value potential for the newly rebranded A220. A definitive agreement was reached with Longview Aircraft Company of Canada Limited for the sale of the Q Series aircraft program assets, including aftermarket operations and assets, for gross proceeds of approximately US$300 million, Read more

Avolon, the international aircraft leasing company, has announced results for the 2018 full year. Avolon’s lease revenue for the year was US$2.6 billion; an increase of 10% year on year. The company generated US$2.2 billion of net cash of operating activities in 2018 and delivered US$717 million in profit for the year, an increase of 30%. Avolon has declared and paid shareholder dividend of US$490 million. At year end Avolon had US$16.6 billion future contracted rental cashflows and ended 2018 with US$5.7 billion of available liquidity in unrestricted cash, undrawn revolving credit facilities and undrawn secured and unsecured debt.

Air Astana has declared net profit for 2018 of US$5.3 million, driven by higher revenues and higher jet fuel costs. Total airline revenue rose by 10% to US$840.8 million. Capacity as measured in ASKs rose by 5% and total passenger numbers by 3%, to 4.3 million. However, transit business via the airline’s Astana and Almaty hubs rose by 48%, and now represents close to 40% of total international traffic. Operating costs rose by 14%, driven mainly by an average jet fuel price increase of 27.5%.