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Business news and events affecting the global airline industry |  |
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| Victoria Moores Irish LCC Ryanair’s net profit for 2017-18 has risen 10% to €1.45 billion ($1.71 billion), delivering a 20% net margin, even after thousands of flight cancellations in fall 2017, but rising labor and fuel costs mean a weaker result is expected for 2018-19. |
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| Victoria Moores Finnair CEO Pekka Vauramo is to step down by November 2018 to take up a position as CEO with Metso Corporation, a Finnish industrial machinery company that specializes in mining and related industries. |
| Ben Goldstein A US-China Open Skies agreement is an unlikely prospect in the near future, a Washington panel agreed Monday, but some welcomed the principle of such an agreement while one US economist said China should be treated “like we treated the Soviet Union.” |
| Advertisement  The IAFS explores the future with CEOs and senior executives from across the industry. Everything is changing, and we’ll be discussing how to optimize the future. Join us in Denver – August 19-21. Great insight and information and fabulous networking events including Boom Supersonic HQ visit. |
| Graham Warwick Premium Content US scheduled charter operator JetSuite, in which JetBlue Airways and Qatar Airways have stakes, is the launch customer for Zunum Aero’s hybrid-electric regional aircraft, which is scheduled for delivery beginning in 2022. The company has options to buy up to 100 aircraft for both its JetSuite private charter and JetSuiteX public charter divisions. |
| Alan Dron Premium Content Omani national carrier Oman Air has begun the process of disposing its small fleet of Embraer 175 regional jets, almost three years after it originally proposed removing them from its inventory. |
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| Katie Cantle HNA Group has sold its 6.2% stake in South African carrier Comair through its Netherland-based subsidiary as part of the Hainan, China-based company’s asset disposal plan, according to a Comair filing released through the Johannesburg Stock Exchange. |
| Helen Massy-Beresford Premium Content The European Union (EU) and the US are moving closer to a long-awaited agreement to remove time limits from wet-leasing contracts after the European Council gave the European Commission the green light to negotiate with its US counterpart. |
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