Tag Archives: DC-10

Air Serbia applies for codeshare service to the U.S. via partner Airberlin

Air Serbia (Belgrade) hopes to serve the United States again. Formerly as Jat Airways, the company previously flew to the USA starting in 1970 with Boeing 707s. Later McDonnell Douglas DC-10-30s were deployed on those routes starting in 1978 (below).

Above Copyright Photo: Rolf Wallner/AirlinersGallery.com. JAT-Yugoslav Airlines (later Jat Airways) McDonnell Douglas DC-10-30 YU-AMA (msn 46981) approaches Zurich.

Now as Air Serbia, the airline has filed an application with the U.S. Department of Transportation (DOT) to serve the U.S. via a codeshare agreement with partner Airberlin (Berlin) using Airbus A330s (above).

Air Serbia logo

If approved, the Air Serbia code would be shown on Airberlin flights to Chicago (O’Hare), Miami and New York (JFK) via Berlin (Tegel) and Dusseldorf according to Airline Route.

Top Copyright Photo: Jay Selman/AirlinersGallery.com. Airberlin’s Airbus A330-223 D-ALPC (msn 444) approaches the runway at New York’s John F. Kennedy International Airport.

Air Serbia aircraft slide show: AG Airline Slide Show

Jat Airways aircraft slide show: AG Airline Slide Show

Airberlin aircraft slide show: AG Airline Slide Show

 

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FedEx Corporation fourth quarter earnings miss Wall Street estimates

FedEx Corporation (FedEx Express) (Memphis) today (June 17) reported reported a fiscal fourth quarter net profit of $753 million or $2.66 per share, unchanged from $753 million or $2.54 per share for the same quarter a year ago.

Analysts on Wall Street had expected the company to report quarterly adjusted earnings per share of $2.68 per share with revenue of $12.31 billion, according to consensus estimates from Thomson Reuters and CNBC.

Without adjustments, FedEx reported a loss of $3.16 per diluted share ($895 million) for the fourth quarter compared to a profit of $2.62 per diluted share a year ago, and earnings of $3.65 per diluted share for the full fiscal year, compared to $7.48 per diluted share last year.

For the year, the company reported a net profit of $1.05 billion, or $3.65 per share. Revenue was reported as $47.45 billion.

Here is the report by the company:

FedEx Corporation logo

FedEx Corporation reported adjusted earnings of $2.66 per diluted share for the fourth quarter ended May 31, compared to adjusted earnings of $2.54 per diluted share a year ago. For fiscal 2015, adjusted earnings were $8.95 per diluted share, compared to $7.05 per diluted share a year ago. Without adjustments, FedEx reported a loss of $3.16 per diluted share for the fourth quarter compared to a profit of $2.62 per diluted share a year ago, and earnings of $3.65 per diluted share for the full fiscal year, compared to $7.48 per diluted share last year.

FedEx 4Q and F2015 Results

Quarterly consolidated earnings have been adjusted for previously announced changes in pension accounting ($4.88 per diluted share), aircraft impairments ($0.62 per diluted share), a legal reserve increase ($0.47 per diluted share) and changes in segment reporting (favorable $0.15 per diluted share).

“Fiscal 2015 was a transformative year for FedEx with outstanding financial results driving expanded long-term value for shareowners,” said Frederick W. Smith, FedEx Corp. chairman, president and chief executive officer. “Significant acquisitions announced in the year promise to strengthen our portfolio of services and change what’s possible for customers. I am very proud of the FedEx team for its accomplishments and look forward to a successful fiscal 2016.”

Adjusted operating income improved 5% during the quarter, due to base yield growth in all three transportation segments, higher ground and U.S. domestic express volume, and benefits from profit improvement program initiatives. These improvements offset increased employee variable incentive compensation and unfavorable net impacts from fuel and weather.

Outlook

For fiscal 2016, FedEx projects adjusted earnings to be $10.60 to $11.10 per diluted share before year-end mark-to-market pension accounting adjustments, driven by continued improvement in base pricing and benefits from our profit improvement program. The outlook assumes continued moderate economic growth and does not include any operating results or costs related to TNT Express.

Capital spending for fiscal 2016 is expected to be approximately $4.6 billion, which includes expansion of the FedEx Ground network and planned aircraft deliveries to support the FedEx Express fleet modernization program.

“Our operating performance significantly improved in fiscal 2015 as we focused on revenue quality and executed on our profit improvement program initiatives,” said Alan B. Graf, Jr., FedEx Corp. executive vice president and chief financial officer. “We expect strong earnings growth in fiscal 2016 as we continue to focus on improving performance and successfully executing our profit improvement initiatives.”

FedEx Express Segment

During the fourth quarter, FedEx Express permanently retired 15 aircraft and 21 related engines, and adjusted the retirement schedule of an additional 23 aircraft and 57 engines. These actions resulted in $276 million of impairment and related charges, of which $246 million was noncash. These charges are excluded from this year’s adjusted operating income and margin.

Revenue decreased 4% as lower fuel surcharges and unfavorable currency exchange rates more than offset base yield and volume growth. U.S. domestic package volume grew 2%, driven by a 3% increase in overnight box. U.S. domestic revenue per package declined 4%, with lower fuel surcharges offsetting improved base rates. International export volume was down 1%, as FedEx International Economy grew 3% while FedEx International Priority® declined 2%. International export revenue per package decreased 8%, as lower fuel surcharges and unfavorable currency exchange rates more than offset higher base rates.

Adjusted segment operating results improved due to higher base yield and U.S. domestic volume growth, the benefit from profit improvement program initiatives and lower international expenses due to currency exchange rates. These benefits were partially offset by an unfavorable net fuel impact, higher incentive compensation and a negative impact from weather.

Copyright Photo: Fred Freketic/AirlinersGallery.com. As previously reported, FedEx is permanently retiring early 15 aircraft, including three Airbus A300s, four Airbus A310-300s, one McDonnell Douglas MD-10-10 and seven McDonnell Douglas MD-11Fs. Updated McDonnell Douglas MD-10-10F (DC-10-10F) N385FE (msn 46619) is pictured in action at JFK International Airport in New York.

FedEx Express aircraft slide show: AG Airline Slide Show

AG Each photo carefully selected

 

The Guardian: Iron Maiden’s Bruce Dickinson to help develop a new Air Djibouti

Air Djibouti (1st) (Djibouti) operated from 1963 to 2002. Bruce Dickinson of the Iron Maiden and formerly of Astraeus Airlines (2002 – 2011), is helping to get the new version of Air Djibouti airborne through his Cardiff Aviation.

Bruce Dickinson is an English musician, airline pilot (who used to fly for Astraeus Airlines), broadcaster and the lead vocalist of the heavy metal Iron Maiden band.

Video:

Read the article from The Guardian: CLICK HERE

Top Copyright photo: Christian Volpati/AirlinersGallery.com. The original Air Djibouti touted itself as the “Red Sea Airline”. Douglas DC-6B F-OCYJ (msn 43740) sits at Paris (Orly).

Air Djibouti (1st) aircraft slide show: AG Airline Slide Show

Astraeus Airlines aircraft slide show: AG Airline Slide Show

Bottom Copyright photo: Antony J. Best/AirlinersGallery.com. Astraeus Airlines had two special “Iron Maiden” special liveries. The 2007 “Iron Maiden 1 – Somewhere Back in Time World Tour) livery was painted on Boeing 757-23A G-OJIB (msn 24292) pictured departing from London (Gatwick).

AG Prints-6 Sizes

FedEx Corporation reports net income of $580 million, up 53%, for the 3Q

FedEx Corporation (FedEx Express) (Memphis) reported earnings of $2.01 per diluted share for the third quarter ended February 28, compared to $1.23 per share last year.

Third Quarter Results

FedEx Corp. reported the following consolidated results for the third quarter:

• Revenue of $11.7 billion, up 4% from $11.3 billion the previous year

• Operating income of $962 million, up 50% from $641 million last year

• Operating margin of 8.2%, up from 5.7% the previous year

• Net income of $580 million, up 53% from last year’s $378 million

Operating results improved due to volume and base yield growth in all three transportation segments, a significant net benefit from fuel, benefits from profit improvement program initiatives, a lower year-over-year weather impact and reduced pension expense. These improvements were partially offset by higher variable incentive compensation accruals.

Share repurchases had a $0.11 year-over-year positive impact on third quarter earnings per diluted share.

Outlook

FedEx projects earnings to be $8.80 to $8.95 per diluted share for fiscal 2015. This outlook assumes continued moderate global economic growth. The capital spending forecast for fiscal 2015 remains $4.2 billion.

“We expect continued revenue and earnings growth this year, driven by ongoing improvements in all of our transportation segments,” said Alan B. Graf, Jr., FedEx Corp. executive vice president and chief financial officer. “Variable incentive compensation accruals will continue to increase as our financial performance improves, and we expect to deliver record fourth quarter and fiscal year earnings.”

FedEx Express Segment

For the third quarter, the FedEx Express segment reported:

• Revenue of $6.66 billion, compared to last year’s $6.67 billion

• Operating income of $384 million, up 129% from $168 million a year ago

• Operating margin of 5.8%, up from 2.5% the previous year

Revenue was essentially flat, as lower fuel surcharges and unfavorable currency exchange rates more than offset volume and base yield growth. U.S. domestic package volume grew by 4%, including 5% growth in overnight box. U.S. domestic revenue per package decreased 2% due to lower fuel surcharges, partially offset by higher base rates. FedEx International Economy volume grew 4%, while FedEx International Priority volume was flat. International export revenue per package decreased 4%, as lower fuel surcharges and unfavorable currency exchange rates were partially offset by favorable service mix and higher rates.

Operating results were higher as increased base revenue, a significant net benefit from fuel and a lower year-over-year weather impact all contributed to the quarter. In addition, the company continued to benefit from profit improvement program initiatives. Partially offsetting these favorable factors were increased variable incentive compensation accruals and aircraft maintenance expenses.

Copyright Photo: Michael B. Ing/AirlinersGallery.com. FedEx Express McDonnell Douglas MD-10-10F (DC-10-10F) N389FE (msn 46623) climbs away from Los Angeles International Airport.

FedEx Express aircraft slide show: AG Airline Slide Show

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FedEx is forecasting another record holiday season with an 8.8% increase and December 15 as the busiest day

FedEx Corporation (FedEx Express) (Memphis) is forecasting another record holiday. The company expects to move more than 290 million shipments between Black Friday and Christmas Eve, an 8.8 percent increase in overall year-over-year Peak seasonal volume.

The season is expected to be bolstered by three volume spikes throughout December, occurring the first three Mondays of the month and each expected to surpass 20 million in volume.

December 15 is projected to be the busiest day in company history, with a forecasted 22.6 million shipments moving around the world. Peak projections are included in FedEx earnings guidance for FY15.

Copyright Photo: Ken Petersen/AirlinersGallery.com. An upgraded McDonnell Douglas MD-10-30F (DC-10-30F) registered as N321FE (msn 47836) arrives in Las Vegas.

FedEx Express Aircraft Slide Show: AG Slide Show

 

FedEx pilots to conduct informational picketing today

FedEx Express‘ (Memphis) 4,200 pilots, represented by the Air Line Pilots Association, Int’l (ALPA), will conduct informational picketing on Tuesday, September 23, in three cities to show, according to the union, “their continuing frustration with ongoing contract negotiations and their resolute support of their Negotiating Committee.”

Informational picketing will take place on Tuesday, September 23, at the following locations and times (all times are local):

Anchorage
Outside FedEx sorting facility at Ted Stevens
Anchorage Int’l Airport, corner of Postmark
Drive and Rockwell Avenue
11:00 a.m. to 11:45 a.m.

Los Angeles
Maguire Gardens (South Flower Street and
West 5th Street)
11:00 a.m. to 11:45 a.m.

Memphis
Outside FedEx Air Operations Center (3131
Democrat Road)
Noon to 12:30 p.m.

According to the union, “FedEx Express and its pilot group came to a historic collective bargaining agreement in 2011. What made this agreement historic was the commitment to continue bargaining so as to foster a more efficient negotiating climate when formal negotiations commenced in 2013 despite having achieved a contract. “There was a real opportunity to fix some difficult problems with well-developed long-term solutions and without the pressure that comes with traditional bargaining. Unfortunately, management chose a different route,” said Captain Scott Stratton, chairman of the ALPA FedEx Master Executive Council. “We should have had a new contract by now, but instead we have spent too much time mired in a ‘traditional’ bargaining situation that does not promote good labor-management relations. In spite of management’s actions, the pilots remain committed to achieving a responsible negotiated agreement that recognizes our contributions to FedEx’s remarkable profitability.”

Copyright Photo: Ken Petersen/AirlinersGallery.com. McDonnell Douglas MD-10-10F (DC-10-10F) N554FE (msn 46708) lands at Raleigh/Durham.

FedEx Express: AG Slide Show

Former airline McDonnell Douglas DC-10-10 continues to serve as a flying hospital

ORBIS FLYING EYE HOSPITAL

The Orbis Flying Eye Hospital utilizes this McDonnell Douglas DC-10-10 as a flying hospital. The former wide-boday airline previously served Laker Airways (as G-BELO), American Trans Air (N183AT), Cal Air International (G-GCAL), Novair (G-GCAL) before going to Project Orbis as N220AU (msn 46501) on November 27, 1991. The venerable jetliner has a new look livery (above).

Orbis International (New York) is an international non-profit non-governmental organization (NGO) dedicated to saving sight worldwide according to Wikipedia. Orbis programs focus on the prevention of blindness and the treatment of blinding eye diseases in developing countries. Since 1982, ORBIS capacity-building programs have enhanced the skills of 325,000 eye care personnel and provided medical and optical treatment to more than 23.3 million people in 92 countries.

Orbis logo

The charity issued this statement:

The Orbis Flying Eye Hospital (FEH) is visiting Jinan for the second time to conduct an intensive and comprehensive training and skills exchange program aimed at strengthening ophthalmic services in Shandong Province. Alongside its longtime sponsor, Alcon, the global leader in eye care, the Orbis program will focus on providing intense training in the areas of cataract, glaucoma, medical and surgical retina.

China accounts for about 18 percent of the world’s blind and out of the estimated 1 million children suffering from blindness in Asia, approximately 400,000 live in China. To address the growing need for pediatric eye care in the country and in support of the long-term Orbis pediatric project in the region, the FEH program will also offer intense subspecialty training in pediatric strabismus.

The Jinan program marks the 39th visit of the Flying Eye Hospital in China and this program will continue to help raise public attention on the eye care conditions and challenges faced in the country. The needs of the eye care communities and the challenges they face vary across provinces, but at the national level, the major causes of blindness reflect global trends and include: cataract, glaucoma and corneal disease.

“Orbis has had a long history of working in China and our training programs have helped improve the quality of ophthalmic services and raise awareness around eye care conditions throughout the country,” said Dr. Ahmed Gomaa, the Orbis Flying Eye Hospital Medical Director. “Orbis is grateful for the generous support of our longtime sponsor Alcon, and we look forward to working together to eliminate avoidable blindness and deliver the highest standards of training.”

In partnership with the Shandong Red Cross Eye Hospital and Shandong Medical College, the program will provide Chinese eye care professionals including optometrists, nurses, anesthesiologists and biomedical engineers with continued medical education through workshop, lectures and hands-on training. In addition to ophthalmologists, the program will also provide practical and clinical training to residents who receive little hands-on training as part of their standard residency curriculum.

“Alcon’s partnership with Orbis of more than three decades is grounded in our shared vision of providing access to quality eye care around the world,” said Bettina Maunz, President of the Alcon Foundation. “The Jinan program gives us the opportunity to partner with Orbis to help deliver sustainable eye care solutions that can make a long-term impact and help prevent and treat blindness in China.”

As part of a global initiative to combat preventable and treatable blindness, and in support of Orbis’s skills exchange program approach, Alcon has been a longtime sponsor of the Flying Eye Hospital programs and donates medical equipment, pharmaceuticals and supplies. In addition, Alcon biomedical engineers volunteer their time on Orbis programs to provide technical assistance by working side-by-side with local technicians and share their skills on managing and maintaining the much needed ophthalmic equipment.

About Orbis

Orbis prevents and treats blindness through hands-on training, public health education, improved access to quality eye care, advocacy and partnerships with local health care organizations. By building long-term capabilities, Orbis helps its partner institutions take action to reach a state where they can provide, on their own, quality eye care services that are affordable, accessible, and sustainable.