IATA forecasts US$36.3 billion in airline profits in 2016
Airlines around the world are expected to collectively generate US$36.3 billion in profits and return their cost of capital in 2016 amid strong demand for passenger travel, lower fuel prices and operational improvements. The 2016 forecast, published by the International Air Transport Association (IATA) on Thursday (European time) in Geneva, represented a net profit margin
Virgin signs engine maintenance contract with Delta
Virgin Australia will send its Boeing 737 fleet to the United States for engine maintenance, repair and overhaul (MRO) as part of a 13-year agreement with alliance partner Delta Air Lines. The MRO work on the 737’s CFM57-7B engines will be conducted by Delta TechOps’ facilities in Atlanta and Minneapolis/St Paul, Virgin said in a
Levett recognised for F-35 work
South Australian precision component manufacturer Levett Engineering has been awarded a commendation for “leadership, drive and performance” on the F-35 Lightning II program by Joint Strike Fighter Division program manager Air Vice-Marshal Chris Deeble. “The global Joint Strike Fighter program is a tough market that drives innovation, affordability and continuous performance, so companies who succeed
Boeing rolls out first 737 MAX
Boeing has marked the on-schedule roll out of the first 737 MAX with a low-key ceremony at its Renton manufacturing facility just outside Seattle. The 737 MAX 8, named Sprit of Renton, emerged from the factory and went into the paint hangar on November 30, which Boeing said was “the precise date determined when the
SIA CEO steps down from Virgin Australia board
Singapore Airlines (SIA) chief executive Goh Choon Phong will step down as a Virgin Australia director on New Year’s Day. His replacement is SIA’s current alternate director on the board Marvin Tan, who is the Singapore-based carrier’s senior vice president for cabin crew, Virgin said in a statement on Thursday. No reason was given for
Rex plans frequency boost to Albany and Esperance
Residents of Albany and Esperance in Western Australia’s south look set to receive more flight options, although not necessarily too many more seats, to Perth once Regional Express (Rex) takes over two government-regulated routes from Virgin Australia Regional Airlines (VARA) from February 2016. Rex has officially signed the deed to operate the two routes for
