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A LATAM Brasil A320 landing in São Paulo/Congonhas Airport. (Photo: AirlineGeeks | João Machado)

LATAM Airlines Group Reports $190 Million Net Income in 2019

LATAM Airlines Group, Latin America's largest airline, presented its financial results of the fourth quarter and full year of 2019 last week. The group had its fourth consecutive year of positive results, registering a USD $190 million net income. This represents a reduction of 38.5 percent over the numbers of 2018, when LATAM had a net profit of USD $310 million. Results of the fourth quarter were also positive, with net income reaching USD $227 million — a 41.8 percent…

Garuda Indonesia Reports Drop of Two Million Passengers in Third…

As a result of increased airfare earlier this year, the passenger numbers of Garuda Indonesia Group in the third quarter dropped 2.1 million year-on-year, but the company's revenue recorded a huge growth. According to local media, Garuda Indonesia lost one million passengers in the domestic market and the passengers for…

More EU Nations Seek to Expand Aviation Taxes

The newfound attention aviation is facing around carbon emissions continues to grow. Recently, airlines have been branded as significant polluters of the world with more and more people looking for ways to penalize the activity of flyers and airlines. This has become so prevalent in some countries that they have…

Norwegian Defers Bond Payments, Strengthen its Financial Position

Tuesday was a key day for Norwegian, as the company's bondholders accepted a two-year deferral in the taking of dividends of obligations that the company had issued in 2015 and 2017. With this action, the carrier avoids paying 380 million dollars due in the last four months of the current…

Cathay Pacific Remains Optimistic Despite Headwinds

Hong Kong-based Cathay Pacific has announced a net profit of $171.8 million for the first half of 2019. According to the interim result, the passenger revenue increased by 5.6 percent, the capacity increased by 6.7 percent and the load factor remained unchanged at 84.2 percent. But the group’s cargo revenue…

Cathay Pacific Remains Optimistic Despite Headwinds

Hong Kong-based Cathay Pacific has announced a net profit of $171.8 million for the first half of 2019. According to the interim result, the passenger revenue increased by 5.6 percent, the capacity increased by 6.7 percent and the load factor remained unchanged at 84.2 percent. But the group’s cargo revenue…

Alitalia Receives “Non-binding Expression of Interest” from Football Club Owner

Italian media reported this week that the government authority overseeing the future of Alitalia has received a ‘"reserved" purchase offer for the airline from Claudio Lotito, the multi-millionaire owner and chairman of Italian football club Lazio. The bid is a challenge to an existing offer involving Delta Air Lines and…

Virgin Australia Adjusts Capacity as Low Demand Hampers Profits

Softening demand in both business and leisure markets is projected to send Virgin Australia’s accounts into the red. In an investor update delivered to the markets on May 17, the Australian carrier announced estimated earnings in 2019 at least A$100 million lower (69 million U.S. dollars) than the A$64.4 million…

IAG Reports Q1 Profit Result Despite Rising Costs and Challenging…

IAG (International Airlines Group), the parent company of Europe’s British Airways, Iberia, Vueling and Aer Lingus, on Friday reported a $152 million profit for the first quarter of 2019. Though the result is down in comparison to 2018, it is seen as a positive result considering the group’s competitors, AirFrance-KLM,…

Asiana Faces More Financial Tribulations, Cuts First Class Offering

South Korea-based Asiana has announced that it will stop offering first class service in September. Also, the beleaguered carrier will terminate service to the Indian city of New Delhi and the Russian city of Khabarovsk and Juschno-Sachalinsk in July. Earlier, their arch-rival, Korean Air, announced that they will also cancel…