Tag Archives: 737-86N

Copa Holdings reports a larger second quarter net profit

Copa Holdings, S.A. (Copa Airlines) (Panama City) has its announced financial results for the second quarter of 2015 (2Q15).

Copa Airlines logo-2

OPERATING AND FINANCIAL HIGHLIGHTS:

Copa Holdings reported net income of $64.1 million (all amounts are in US dollars) for 2Q15, or diluted earnings per share (EPS) of $1.46. Excluding special items, Copa Holdings would have reported an adjusted net income of $41.0 million, or $0.93 per share, a 64.7% decrease over adjusted net income of $115.9 million and $2.61 per share for 2Q14.

Operating income for 2Q15 came in at $49.2 million, a 62.5% decrease over operating income of $131.2 million in 2Q14. Operating margin for the period came in at 9.1%, compared to 19.5% in 2Q14, as a result of lower unit revenues partially offset by lower unit costs.

Total revenues decreased 20.1% to $538.4 million. Yield per passenger mile decreased 20.4% to 13.2 cents and operating revenue per available seat mile (RASM) decreased 24.4% to 10.0 cents.

For 2Q15, passenger traffic (RPMs) decreased 0.2% on a 5.8% capacity expansion. As a result, consolidated load factor came in at 72.9%, or 4.3 percentage points below 2Q14.

Operating cost per available seat mile (CASM) decreased 14.7%, from 10.7 cents in 2Q14 to 9.1 cents in 2Q15, mainly due to lower jet fuel costs. CASM excluding fuel decreased 6.3% to 6.2 cents mainly due to lower sales related expenses and lower overhead expenses.

Cash, short-term and long-term investments ended 2Q15 at $1.15 billion, representing 46% of the last twelve months’ revenues. Of this amount, 39%, or $452.2 million, is in Venezuela pending repatriation due to government currency controls.

During the second quarter, Copa Airlines took delivery of two Boeing 737-800 aircraft, and returned a leased Boeing 737-700.

Furthermore, the Company subleased one of its Boeing 737-700s to United Airlines. As a result, Copa Holdings ended the quarter with a consolidated fleet of 98 aircraft.

For 2Q15, Copa Holdings reported consolidated on-time performance of 90.4% and a flight-completion factor of 99.7%, maintaining its position among the best in the industry.

SUBSEQUENT EVENTS

During July 2015, Copa Holdings subleased one more of its Boeing 737-700s to United Airlines.

Copa Holdings will pay its third quarter dividend of US$0.84 per share on September 15, 2015, on all outstanding Class A and Class B shares, to stockholders of record as of August 31, 2015.

Note:

(1) Breakeven Load Factor, Adjusted Net Income and Adjusted EPS for 2Q15, 2Q14, and 1Q15 exclude non-cash charges/gains associated with the mark-to-market of fuel hedges, and also exclude charges/gains related to the Venezuelan currency.

Copyright Photo: Michael B. Ing/AirlinersGallery.com. Copa Airlines Boeing 737-86N HP-1726CMP (msn 38024) departs from Los Angeles.

Copa Airlines aircraft slide show: AG Airline Slide Show

AG Prints-6 Sizes

Myanmar National Airlines takes delivery of its first Boeing 737-800, painted in a new livery

Myanmar National Airlines (formerly Myanma Airways) (Yangon) and Boeing (Chicago, Seattle and Charleston) yesterday (June 11) celebrated the delivery of the airline’s first Next-Generation 737-800 leased from GE Capital Aviation Services (GECAS), the commercial aircraft leasing arm of GE. The celebration also marked the first all-new Boeing airplane to be delivered to any Myanmar-based airline.

The airplane is the first to feature Myanmar National Airlines’ new livery and interior, and the airline plans to expand its network outside Myanmar with the introduction of its 737.

“Our new 737 will allow us to expand our network to international markets and offer an even better experience for our passengers,” said Myanmar National Airlines CEO Than Tun. “Investing in new technology aircraft such as the 737 will ensure Myanmar National Airlines continues to be the pride of the country and positions us for future success.”

Myanmar National logo

Myanmar National Airlines, previously Myanma Airways (below), has the most extensive route network within Myanmar, serving more than 25 domestic locations, and is headquartered in Yangon.

Copyright Photo above: Richard Vandervord/AirlinersGallery.com. Myanma Airways Embraer ERJ 190-100 IGW XY-AGP (msn 19000154) taxies at Yangon.

 

Founded in 1948 as Union of Burma Airways (below), the flag carrier is also one of Asia’s pioneering airlines.

Copyright Photo above: Christian Volpati/AirlinersGallery.com. Union of Burma Airways Boeing 727-193 XY-ADR (msn 19620) is pictured at Hong Kong.

Top Photo: Boeing. The formal ceremonies of the handover of Myanmar National Airlines new Boeing 737-86N XY-ALB (msn 43405) at Seattle’s Boeing Field via GECAS.

AG Bottom Ad Bar

 

 

Norwegian’s pilots end their strike after 11 days

Norwegian Air Shuttle (Norwegian Air Norway) (Norwegian.com) (Oslo) has announced the devastating strike by its pilots, represented by the Norwegian Pilots Association (NPU), is over after 11 days of strikes. The airline today is attempting to get back to a normal schedule and will transport the affected passengers.

Norwegian CEO Bjorn Kjos stated “Norwegian has gone far to get a solution to the conflict which lasted for 11 days”. According to the company (translated from Norwegian);

“For Norwegian it has been important to enter into contracts that give the board and management the right to continue to build a modern group structure that makes the company competitive internationally. It also has been central to the negotiations to not sacrifice the commercial management and the ability to adapt the company in an industry that is constantly changing. The company has introduced the collective defined contribution pension even for pilots, a reduced Loss of Licence (LOL) insurance and some increased flexibility in working hours.

The Scandinavian pilots have received a new collective agreement with conditions that remain among the best in the industry. The agreement has been concluded with the pilot companies they are now employed. Norwegian has also sent a special employment guarantee for all pilots who are employed in Scandinavia today. Such a guarantee is unique in Scandinavian workplace and in a competitive industry like the aviation industry. Employment guarantee is the collective agreement and applies until October 2017.”

Copyright Photo: Paul Bannwarth/AirlinersGallery.com. A dramatic photo of Boeing 737-86N LN-NOJ (msn 37884) landing at volcanic Tenerife Sur (TFS) in the Canary Islands.

Norwegian aircraft slide show: AG Airline Slide Show

AG Bottom Ad Bar

Talks between Norwegian Air Norway (NAN) and the Norwegian Pilot Union (NPU) break down

Norwegian Air Norway (Norwegian Air Shuttle) (Oslo) is a subsidiary of Norwegian Air Shuttle.

Norwegian Air Shuttle recently transferred its first aircraft (Norwegian registered LN-DYY, msn 39012) to the Irish registry according to Skyliner Aviation. The Boeing 737-8JP was reregistered on the Irish registry as EI-FHA on February 17. Ireland is part of European Union. Under Ireland, Norwegian registered aircraft will be able to operate on more European routes due to the prevailing bilateral restrictions from Norway to the EU.

In February 2014, Norwegian Air Shuttle’s Irish subsidiary, Norwegian Air International, received its Air Operators Certificate (AOC). The AOC issued in Ireland gives the company future traffic rights to and from the European Union. Norwegian Air International is seeking rights to operate the Boeing 787s to the United States and theoretically replace Norwegian Long Haul.

The Norwegian Long Haul Boeing 787-8 Dreamliners (currently operating on long range routes) are also registered in Ireland. Norwegian Long Haul however has a separate Norwegian AOC with the IATA code of DU.

All aircraft operate under the “Norwegian” brand.

According to News in English (from Norway) the pilots are striking because airline management wants to “cut their pensions, pay and insurance benefits”. According to the report, the pilots are “fighting for a permanent collective bargaining agreement with Norwegian Air’s parent company, Norwegian Air Shuttle.” The union also fears the company will try to replace them with cheaper crews from crewing agencies or possibly declare bankruptcy.

Read the full full report: CLICK HERE

Meanwhile Norwegian Air Norway (Oslo) issued this statement:

Norwegian regrets that it was not possible to reach an agreement in mediation between the subsidiary Norwegian Air Norway (NAN) and the Norwegian Pilot Union (NPU). Norwegian’s goal remains to implement this weekend flights so far as is possible when a limited number of pilots have been on strike in the first round.

Norwegian had before the mediation proposed several completely necessary cost savings to ensure a sustainable business and future jobs. Unfortunately, the NPU / Parathyroid did not comply with these requirements but instead presented a claim that goes in the wrong direction relative to the agreements reached at the previous hearing in 2013. NPU demand the right to control the Norwegiankoncernen, collective agreements with a company they are employed in, and that the Norwegian collective agreement shall also apply outside Norway. Norwegian could not accept the requirement for koncernansenitet for NAN pilots, ie ansenitet in a company they are employed in. In practice, it would have given Scandinavian pilots the opportunity to oust colleagues at the other bases in Europe.

We really regret the uncertainty being created among our passengers. Our goal has always been to avoid a strike and get a solution and peace in the company. Now we will do what we can to take care of the passengers in the best possible way, says Norwegian’s CEO Bjørn Kjos.

The conflict comes for Norwegian Scandinavian subsidiary Norwegian Air Norway (NAN). This means that long routes between Scandinavia / UK and USA / Asia runs as usual. The bases in England, Finland and Spain are also not directly concerned.

Copyright Photo: Antony J. Best/AirlinersGallery.com. Registered in Norway, Boeing 737-86N LN-NOQ (msn 32658) departs from London (Gatwick).

Norwegian aircraft slide show: AG Airline Slide Show

AG No Ads-Beautiful

Will the Skymark reorganization pick the ANA proposal or AirAsia?

ANA (All Nippon Airways) today (February 23) submitted a bid to sponsor the reorganization of Skymark Airlines (Tokyo-Haneda). Today was the deadline set by Skymark’s financial adviser for any airline companies to submit any proposals to rescue the troubled airline according to ZipanguFlyer. In essence, ANA wants to reorganize Skymark as a feeder for ANA. A competing previous bid by AirAsia (Kuala Lumpur) would keep Skymark independent and would allow it grow its presence in Japan. Which way will Skymark and the court go?

Read the full report: CLICK HERE

Copyright Photo: Michael B. Ing/AirlinersGallery.com. Skymark Airlines will reorganize around the Boeing 737. Boeing 737-86N JA737R (msn 35630) approaches the runway at Narita International Airport near Tokyo.

Skymark aircraft slide show: AG Airline Slide Show

AG Thank you

Skymark Airlines to file for bankruptcy protection and reorganization

Skymark Airlines (Tokyo-Haneda) according to ZipangFlyer will reportedly file for bankruptcy protection in the Tokyo District Court, after an emergency board meeting was held today (January 28). Investment fund Integral Corporation will reportedly finance and help Japan’s third largest carrier continue operations.

Skymark Airlines had grand ambitions and recently added Airbus A330-300s and even had Airbus A380s on order. Did they expand too fast? Can they successfully reorganize? What will the new Skymark look like?

Read the full report: CLICK HERE

Copyright Photo: Akira Uekawa/AirlinersGallery.com. Skymark Airlines Boeing 737-86N JA73NF (msn 38019) completes its final approach to Haneda Airport in Tokyo.

Skymark aircraft slide show:

AG Bottom Ad Bar

Primera Air continues to expand from Scandinavia and Iceland

Primera Air (Scandinavia) (Copenhagen) is opening up new routes for the current winter season. On October 26, the company launched weekly service from Gothenburg and Malmo to Dubai (Al Maktoum), Helsinki to Fuerteventura and Las Palmas and from Malmo to Tenerife Sur.

Furthermore, late this month, the airline will start four new weekly routes; Aalborg-Las Palmas (December 19), Copenhagen-Billund-Lanzarote (December 19), Aarhus-Tenerife Sur (December 20) and Aalborg-Fuerteventura (December 22) per Airline Route.

In other related news, Primera Air (Iceland) (Keflavik) launched a new route to New York (JFK) on November 16 after acquiring rights to serve the United States.

Copyright Photo: Ton Jochems/AirlinersGallery.com. Boeing 737-86N OY-PSD (msn 28618) taxies at Palma de Mallorca.

Primera Air (Scandinavia) aircraft slide show:

Primera Air logo (large)