Airline Reports $56 Million Dollar 2016 Profit.
Press Contact: lcortez(a t)fusionairways(d o t)com
San Mateo, CA February 3, 2017 (PRWEB) -- Fusion Airways announced today a $56 Million Dollar profit for 2016. Fusion Airways experienced revenue headwinds associated with a reduction in Virtual Airline flying, and a modest decrease in domestic RASM. This $56 Million Dollar profit is in line with investor guidance, but down from the airline's $247 Million Dollar 2015 profit.
Fusion's Network ASMs increased to 13,315,752 on a 29% increase in network capacity. The airline's average load factor was reported at 79.12%, an increase of .50% from 2015. Fusion's average RASM fell 3 cents to $0.64 and CASM remained flat at 17 cents. Fusion Airways reported 209 flights were operated during 2016, in-line with a reported 215 in 2015.
These financial results for the end of the year are a direct result of Fusion's crew members flying live flights, and a virtual airline industry leading revenue management simulation system. The airline's financials are ran at a 3x simulation rate for growth purposes, and without the simulation the airline would have reported a net profit of $18 million dollars for 2016.
Fusion Airways is targeting a 5% capacity increase in 2017 with expansion of both domestic and international markets. In the airline's earnings call Friday, executives hinted at several changes ahead in 2017 including:
- Induction into service of 4 Boeing 777-300ER aircraft to serve international destinations.
- Re-fleeting efforts for the Airbus A321 fleet due to payload and range limitations and lease expirations.
- Fleet analysis of Boeing 737 airframes with high cycles, including replacement options for either new or used aircraft.
- Expansion of the airline's Caribbean flying, and increased focus on connectivity with Fusion's existing route network.
- International expansion at the airline's San Francisco, CA hub, and increased capacity on Fusion's popular transcontinental network service.
Fusion Airways announced the airline is targeting to hire 20 new First Officers in the first half of 2017, details on virtual piloting careers can be accessed at http://www.fusionairways.com/hr/pilotapps.php.
The New York based holding company for Fusion Airways, Opulent Holdings, reported it's stock up $0.50 in trading on the airline's financial operating performance.
About Fusion Airways
Fusion Airways (ICAO: FUS, IATA: F4, Call-Sign: "Rip-Tide") is a virtual air carrier based in San Francisco, California. Fusion provides air service to destinations in the United States, Canada, Mexico and Europe. Fusion Airways currently operates a fleet of Airbus 321, Boeing 737, and Boeing 777 aircraft. Fusion Airways' vision "Quality + Service = The Perfect Fusion" is not just a saying but a service commitment. With industry leading legroom, outstanding business class amenities and a state of the art in-flight entertainment system. In addition to industry leading customer amenities, Fusion employs the latest in virtual airline technology including a state-of-the-art flight dispatch and financial tracking system as well as an industry leading ACARS platform, seniority based bidding and dynamic fleet and pilot tracking. For more in-depth information regarding Fusion Airways visit Fusion's website at http://www.fusionairways.com.
About Opulent Holdings
The Holding Company for San Francisco based air carrier Fusion Airways, Opulent Holdings is a virtual corporation based in White Plains, New York. Opulent Holdings is traded on the vNYSE under the symbol "OPU." More information about Opulent Holdings is available at Fusion Airways' website at http://www.fusionairways.com.
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