News
JetBlue's commercial recovery is working — revenue beat guidance, Fort Lauderdale delivered and loyalty grew 19 per cent. Then the fuel bill arrived. Q2 fuel is guided at $4.13 to $4.28 per gallon with no hedge in place.
News
Norwegian narrowed its first-quarter operating loss from NOK 611 million to NOK 220 million as hedging gains cut the fuel bill by nearly a quarter and SAS's retreat filled its cabins. Load factor hit a record for any first quarter. The summer will determine whether the gains are durable.
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Alaska Airlines flight AS180 departs Seattle for Rome tomorrow — the first transatlantic flight in the carrier's 93-year history. The Hawaiian Airlines merger gave Alaska the 787s to do it.
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British Airways told thousands of frequent flyers their elite status had been extended for another year. Some held 128 tier points against a Silver threshold of 7,500. Fifty hours later, the airline reversed the decision and cited a technical error.
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The EU's Court of Justice dismissed Lufthansa's final appeal on Thursday, upholding the annulment of the European Commission's approval of its €6 billion Covid bailout. Lufthansa won five of six appeal grounds. The sixth was inadmissible. That was enough to end it.
News
American Airlines hit record $13.9bn revenue in Q1 and cut full-year EPS guidance by 84%. The commercial recovery is real. The fuel exposure makes it insufficient.
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Southwest posted a $227 million profit in Q1 on record revenue of $7.25 billion — a $376 million swing from a year earlier. The transformation is working. Q2 fuel guidance came in at $4.10 per gallon and the EPS guide missed consensus.
Analysis
Boeing reported Q1 revenue of $22.2 billion, up 14%, with a GAAP loss of $0.11 per share — well ahead of the consensus loss estimate of $0.69. Cash fell $8.5 billion in the quarter as Boeing repaid nearly $7 billion in debt.
Analysis
Lufthansa is cancelling 20,000 flights through October, closing CityLine and retiring six long-haul aircraft.
News
United Airlines posted a record $14.6 billion in first-quarter revenue, with adjusted EPS of $1.19 beating expectations despite a $340 million fuel hit. Premium revenue rose 14 per cent.
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Spirit Airlines filed its restructuring plan assuming jet fuel at $2.24 per gallon. The market is at $4.32. J.P. Morgan puts the gap at $360 million in additional costs — more than the airline's entire cash balance.
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American Airlines said Friday it is not interested in a merger with United and has held no discussions. The statement goes further, calling the combination anti-competitive and invoking Trump's own antitrust philosophy to close the door.