THE TIME TO PREPARE FOR
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TO FIND OUT MORE, VISIT WWW.ICG.AERO OR CALL (757) 947-1030.
Reliable and continuous communications with your aircraft and fight crew are
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ACARS | FANS 1/A Messaging | CPDLC | ADS-C | LRCVOICE
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mandates is now.
Southwest Airlines earns record
$1.14 billion 2014 net profit
Southwest Airlines reported a 2014 net profit of
$1.14 billion, up 50.7% over net income of $754
million in 2013, as expenses decreased slightly
year-over-year while revenue grew 5.1%.
The 2014 net profit was Southwest’s highest ever and marked the 42nd consecutive year
the Dallas-based airline has been in the black.
The record net profit was achieved even with
Southwest taking a mark-to-market $251 million hit
on fuel hedging contracts. The company’s pre-tax
return on invested capital (ROIC) for the 12 months
ended Dec. 31, 2014 was 21.2%, well exceed-
ing Southwest’s historic 15% ROIC target and an
improvement over 2013’s 13.1% ROIC.
Southwest’s 2014 revenue was up 5.1% to
$18.61 billion while expenses lowered 0.2% to
$16.38 billion, producing operating income of
$2.23 billion, up 74.1% from an operating profit
of $1.28 billion in 2013. Even with fuel hedging
factored in, Southwest did see benefits from
lower oil prices as 2014 fuel costs decreased
8.2% year-over-year to $5.43 billion.
Southwest retired the Air Tran Airways brand
on Dec. 28, 2014, and net pre-tax synergies from
the Air Tran merger neared $500 million in 2014.
Finland clears Flybe Nordic sale
Finland was given the green light for StaffPoint Holding and G. W. Sohlberg (GWS) to
acquire Flybe’s 60% stake in Flybe Nordic.
Flybe Nordic, which is parent to Finnair regional carrier Flybe Finland, was set up
as a joint venture between Finnair (40%) and Flybe (60%) in 2011. However, Flybe
is pulling out of the venture because of its poor performance.
Finnish firms StaffPoint Holding and GWS have now been cleared to acquire the
Flybe shares for the token sum of ¤ 1 ($1.14). “The transaction is expected to be
closed in early February 2015,” Finnair said.
Once the deal has gone through, StaffPoint will own 45% of the JV, Finnair will
hold 40% and GWS will take the remaining 15%. The partners are working on a new
business plan, which is likely to include a name change.
Spirit Airlines’ 2014 net profit up 27.4% to $226 million
Fort Lauderdale, Fla.-based ultra-low-cost carrier (LCC) Spirit Airlines posted its
eighth consecutive year of profitability in 2014, with net income of $225.5 million,
up 27.4% over 2013’s net profit of $176.9 million.
Spirit’s 2014 operating revenue grew 16.8% year-over-year to $1.93 billion as
expenses increased 14.9% year-over-year (YOY) to $1.58 billion, resulting in an
operating profit of $355.3 million, up 25.8% YOY.
Spirit’s full-year passenger traffic grew 18% YOY to 14. 2 billion RPMs as capacity
kept pace with 17.9% YOY growth to 16. 3 billion ASMs. Total passenger load factor
for 2014 came to 86.7%, up 0.1 point from 2013. The carrier’s full-year RASM was
down 1% to 11.82¢ and CASM excluding fuel was 5.88¢, down 0.5% YOY. Sprit’s
full-year yield decreased 1.1% YOY to 13.64¢.