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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.
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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.
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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.
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Iran declared the Strait of Hormuz completely open today. Heating oil futures fell 13 per cent within minutes. The mines are still in the water, the US blockade of Iranian ports remains in force, and Europe's jet fuel stocks will not recover for weeks regardless.
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Lufthansa strikes enter a sixth day as Spirit Airlines faces potential liquidation from record jet fuel prices. Air France-KLM extends flight suspensions through May 3, while Qatar Airways removes 12,000 flights following A380 groundings.