The two hedge funds that have launched a boardroom fight with United Continental Holdings Tuesday called on the airline to immediately appoint 1 of its 2 new board members as chairman, according to a regulatory filing. The funds asked that either James Whitehurst, former COO of Delta Air Lines, or Robert Milton, former CE of Air Canada, be appointed chairman before shareholders vote on a slate of 6 other directors that the funds proposed 2 weeks ago, the filing said. The funds, PAR Capital Management and Altimeter Capital Management, had called United's board "underqualified" because it lacked what they considered experienced airline executives until the carrier appointed Whitehurst and Milton March 7. <br/>
star
Brussels Airlines reported a 2015 net profit of E41.3m (US$45.1m), reversing a E4.2m net loss from 2014. The net result follows a deduction of E5m, which the company reportedly redistributed to personnel. “Thanks to the commercial success, the repositioning in the market and ongoing cost control … our efforts to make Brussels Airlines an attractive, dynamic and competitive airline has paid off in the past year," CE Bernard Gustin said. The full-year results were released March 17, several days ahead of the latest terror attacks in Brussels including Brussels Airport. Full-year turnover increased to E1.27b, up 6.9% year-over-year (YOY). Higher turnover, together with significant cost reduction in 2015, resulted in an operating profit of E43.1m, a reversal from 2014’s full-year operating loss of E9m. <br/>