Boeing to take $2.1 billion 2Q hit across 787, 747-8 & KC-46 programs

Boeing will report after-tax charges totaling $2.1 billion across three aircraft programs—the 787, 747-8 and KC-46 aerial refueler—in its July 27 second-quarter earnings release, the company has revealed.

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Southwest tech failure causes 12-hour shutdown, 1,000 cancellations

Southwest Airlines canceled hundreds of flights following a systemwide technology outage that began at 1 p.m. CST Wednesday, July 20.

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Southwest posts $820 million 2Q net profit

Dallas-based Southwest Airlines posted a 2016 second-quarter net income of $820 million, up 34.9% year-over-year (YOY), compared to a net profit of $608 million in the year-ago quarter.

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Lufthansa lowers 2016 forecast on political, economic uncertainties

Germany-based Lufthansa has lowered its full-year profit forecast after a significant decline in advanced long-haul bookings to Europe following repeated terrorist attacks in Europe amid greater political and economic uncertainty.

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Alaska expects to make Virgin America brand decision by early 2017

Alaska Air Group has reached an agreement with the US Department of Justice (DOJ) on the timing of the antitrust review of its proposed acquisition of Virgin America and expects the merger to close in the 2016 fourth quarter, according to Alaska CEO Brad Tilden.

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Boeing 787 financial hit underscores cost of launching a new airliner

Karen Walker

That Boeing has had problems with the three aircraft programs that will lead to the company taking a $2.1 billion hit in its second-quarter earnings was not a surprise. But the size of the hit was a shock.

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• Alaska Air Group 2Q net profit up 11%
• Hainan Airlines takes 23% stake in TAP Portugal
• EasyJet takes $53 million hit after Brexit
• Turkish Airlines: Flights proceed as state of emergency is declared
• First CFM LEAP-1A-powered A320neo delivered to Pegasus
• Norwegian opens new UK headquarters
• Jazeera Airways wins approval for new terminal at Kuwait airport
• MRO Briefs-July 21, 2016

Virgin Australia to launch inflight internet

Virgin Australia plans to install internet on its aircraft, following closely behind Qantas.

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Middle East-Widening Ambitions

In the Middle East, airline growth and creativity is no longer the sole signature of the ‘big three.’

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ATW Editor’s Blog: FAA ban on Turkish flights, although lifted, was puzzling
ATW’s AirKarp Blog: FAA reauthorization: There has to be a better way
ATW’s Need I Say Moores Blog: Farnborough beckons
ATW Time Capsule: I am only the piano player

This week's poll question

After the attempted coup in Turkey, was FAA right to ban all flights between the US and Turkey for 3 days?

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NEW! Gallery: Aircraft on display at Farnborough
NEW! Video: ANA’s iconic Star Wars-themed jets take to the skies
Gallery: World Events That Mattered the Most—July & Farnborough 2016
Gallery: Embraer E190-E2 at Farnborough Airshow
Video: Interview with Embraer’s John Slattery at Farnborough
Video: Walkthrough of the Embraer E190-E2 prototype at Farnborough
Video: On board the Embraer E190-E2 cabin mockup at Farnborough
Video: Virgin Atlantic’s blockbuster A350 order at Farnborough
Gallery: Boeing 737 MAX at the Farnborough Airshow 2016
Video: ANA helps Boeing celebrate centennial at Farnborough
Video: On board the Boeing 737 MAX at the Farnborough Airshow
Video: Inside the cockpit of the 737 MAX

World Airline Financial Results: 2d Quarter 2016 Roundup
Boeing 20-Year Current Market Outlook 2016
Farnborough Airshow 2016 Orders and Commitments July 11-14, 2016

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