US Airways reports first quarter net loss of $236 million

US Airways Group reported a net loss for its first quarter 2008 of $236 million compared to a net profit of $66 million for the same period last year. Excluding net special items of $3 million, the Company reported a net loss of $239 million for its first quarter 2008. This compares to a net profit excluding special items of $34 million for the first quarter of 2007, which included $32 million of net special credits. The Company has taken steps to further reduce capacity in the back half of 2008 and into 2009. Since the previous earnings release on Read more

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Alaska Air reports first quarter 2008 results

Alaska Air Group reported a first quarter net loss of $35.9 million compared to a net loss of $10.3 million in the first quarter of 2007. Both periods include adjustments resulting from mark-to-market fuel hedge accounting. Excluding the impact of these adjustments, the company would have reported a net loss of $36.3 million compared to a net loss of $15.8 million, or $0.39 per share, in the first quarter of 2007.

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AerCap releases first quarter transactions

AirCap signed new lease agreements for 23 aircraft, delivered seven aircraft and ten engines under lease agreements, purchased 19 aircraft, sold eight aircraft, and disassembled three older aircraft. In addition to transactions closed in the first quarter 2008, AerCap closed two financing transactions during April 2008 which increased available funding by $338 million. These debt facilities will be used for the financing of pre-delivery payments on new A320 family aircraft and A330 aircraft on order from Airbus. With the pre-delivery debt facility for the A320 aircraft, AerVenture, AerCap’s joint venture with Load Air and Al Fawares of Kuwait, has now Read more

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New Corporate Secretary and Head of Investor Relations at EADS

The Board of directors of EADS has appointed Pierre de Bausset as Corporate Secretary of EADS as of 1 April 2008. In his new function, Pierre de Bausset reports to the CEO of EADS, Louis Gallois. Nathalie Errard took over his former duty as Head of Investor Relations and Financial Communications of EADS, reporting to the CFO of EADS, Hans Peter Ring.

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Goodrich announces 13% increase in sales and 59% increase in net income

Goodrich announced results for the first quarter, and increased its outlook for full year 2008 sales and earnings per diluted share. Goodrich reported first quarter 2008 net income of $158 million, on sales of $1,745 million, and income from continuing operations of $154 million. In the first quarter 2007, the company reported net income of $100 million, on sales of $1,546 million, and income from continuing operations of $99 million. First quarter 2008 sales increased 13% and net income per diluted share increased 59% compared with the first quarter 2007. The company’s full year 2008 sales expectations have been increased Read more

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Turbomeca growth in Canada

On its fifth anniversary of operations in Canada, Turbomeca Canada is inaugurating a 16,000 square feet extension to satisfy increasing demand from operators of Turbomeca turboshaft engines, especially in Canada and North America. The Mirabel site has enjoyed constant growth over its first five years. Since inaugurating the facilities with a team of 18 staff in 2003, the workforce has spiraled to 123 employees. In five years, Turbomeca Canada has repaired more than 700 engines and 1,000 fuel flow control units. Turbomeca Canada specializes in repair and overhaul operations on Arriel 1 and Arriel 2 engines and accessories for its Read more

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Finnair to begin codesharing with Icelandair

Finnair will begin codeshare cooperation with the Icelandic airline Icelandair from the beginning of May. The agreement covers the Helsinki-Reykjavik route operated by Icelandair, which will be flown four times per week from June. In May there will be two flights per week from Helsinki to Reykjavik.

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Lufthansa increases operating result for first quarter 2008

In the first quarter 2008 Lufthansa Group generated revenue of EUR 5.6 billion (previous year: EUR 4.7billion) and increased its operating result by EUR 152 million to EUR 188 million. It reflects the positive development of earnings performance in all business segments and includes a contribution to operating result of EUR 52 million from SWISS, which has been fully consolidated since 1 July 2007. In the first quarter 2008 Lufthansa reported net profit for the period of EUR 57 million. The figure of EUR 554 million for the previous year was influenced by a book gain of EUR 499 million Read more

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Delta Air Lines reports first quarter net loss of $274 million

Delta Air Lines reported results for the quarter ended March 31, 2008. Delta reported a net loss of $274 million in the first quarter of 2008 compared to a net loss of $6 million in the first quarter of 2007, excluding special and reorganization items. The $268 million year over year increase in net loss was driven by a $585 million increase in costs due to higher fuel price. Delta did not record an income tax benefit in the March 2008 quarter.

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