The International Air Transport Association says 47 major carriers it monitors to assess the industry’s financial health reported a net profit of $3.9 billion in the second quarter. The results contrast with the $881 million net loss posted by carriers a year earlier.Get the full story >>
AAR Corp.
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30% fewer miles for short United, American flights
United Airlines and American Airlines have both begun promotions that allow frequent fliers to use 30 percent fewer miles if they want to squeeze in some “short-hop” travel in the next few months. Both deals only apply to trips of 700 miles or less. Get the full story »
AA reports 2Q loss, management shake-up
American Airlines announced it was shaking up its senior management team after reporting a second-quarter loss at a time when competitors like United and Delta Airlines posted their largest profits in years.
Texas-based American, which with United dominates Chicago’s O’Hare International Airport, is promoting chief financial officer Tim Horton to the role of president. Get the full story »
Commercial aviation grounds AAR 4Q earnings
AAR Corp.’s fiscal fourth-quarter earnings dropped 21 percent as the aircraft leasing and maintenance company waits for its commercial aviation business to pick up.
The company has warned that recovery in its commercial-airlines business has been less robust than expected. The recession skewered that market, with a drop in travel and tight credit forcing AAR’s commercial-airline customers to cut back. However, the company’s sales to defense contractors have held up. Get the full story »
AAR Corp. to provide airlifts to Afghanistan troops
Aerospace supplier AAR Corp. said Thursday it has been selected by the U.S. Transportation Command to provide airlifts for troops and cargo in Afghanistan. The new contract has an initial term of one-year with four one-year renewal options. It’s valued at $24 million per year.
