Singapore Airlines Thursday topped market expectations by reporting a 148% rise in full-year net profit to the highest level since 2011, as passenger and cargo revenue rose and it benefited from a transformation program. However, it warned of pressures from intense competition, costs and rising fuel prices despite strong bookings for the coming months and a continued stabilization in airfares. The carrier made S$893m in the year ended March, up from S$360m a year earlier and 28% higher than the S$697m average forecast from 14 analysts polled by Thomson Reuters. A strong Q4 marked a turnaround from a year ago, when an operating loss by its flagship full-service airline led the company to launch a three-year transformation program designed to cut costs and boost revenue. SIA said transformation initiatives including a new revenue management program, a new airfare pricing structure and the establishment of a centralized pricing unit boosted revenue, while the airline also saved costs via more efficient use of fuel and waste reduction. “The first year of the ... three-year transformation program has shown good progress,” the airline said. “The next two years of the program will further build on initiatives around enhancements to the customer experience, revenue growth and improvements in operational efficiency.”<br/>
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SIA has said it will invest more than $100m to upgrade cabins in its regional subsidiary SilkAir that “will ultimately see it merged into SIA”. SilkAir cabins will be upgraded by installing lie-flat seats in business class and seat-back televisions in both business and economy class starting in 2020 with the merger taking place once a “sufficient number” of aircraft have been upgraded. SilkAir flies to 49 destinations in 16 countries in Asia and Australia. <br/>
United CFO Andrew Levy is resigning after less than two years with the company, saying he will pursue “entrepreneurial” opportunities, as the carrier works to bolster its network and overhaul its fleet. Levy, 47, was hired at United Continental in August 2016, the same month that the carrier announced it had hired Scott Kirby away from rival American Airlines as president. “I plan to return to the more entrepreneurial pursuits that have defined my career,” Levy wrote Thursday. “My decision to resign was reached after a great deal of thought during the past few months. I have some interesting opportunities and now is the right time for me to move forward.” Levy cited the same entrepreneurial opportunities when he left Allegiant Travel in October 2014, without providing details. He served as president of the ultra-low-cost airline for 13 years. His departure comes as CEO Oscar Munoz is working to strengthen the airline’s domestic hubs, add regional routes and revamp its long-haul fleet to newer, more efficient aircraft.<br/>
India is having a tough time landing a buyer for its national airline.<br/>The government put Air India on the auction block last year, and is offering bidders the chance to buy 76%. It wants to scale back taxpayer support for an airline that has lost money for years. Despite those losses, and growing competition from budget carriers such as SpiceJet and IndiGo, Air India offers a way into a fast-growing aviation market that is projected to be the world's third biggest by 2026. The carrier is still a major player in a country where nearly 300 million people took to the skies last year. Yet, there have been few expressions of interest, and the government has had to extend its deadline for bids to May 31. Story has details about why it's proving so difficult to sell.<br/>
Air Canada does not plan to exercise options on Boeing 787s, CFO Michael Rousseau said, citing market conditions for the decision. “We have [13] options for our 787s,” Rousseau said. “We don’t see exercising those options, given the current state of the world and the current forecast of GDP.” Air Canada has firm orders for 37 787s, including eight -8s and 29 -9s. As of March 31, the airline operated 33 of them, and planned to take delivery of the last two by the end of 2019. It operates all the -8s it ordered and is taking the remainder of its -9s.<br/>