SN Brussels Airlines and Virgin Express announced that Brussels Airlines will be the name of the merged company, a “new-generation” carrier that will meet “the real needs of…both business and low-cost travelers: Flexibility, service and timesaving for the former, and the lowest fare guarantee for the latter.”

Finnair reported a third-quarter net profit of €10.3 million ($13.1 million), narrowed 61% from net income of €26.4 million in the year-ago quarter, and said it will cut jobs and outsource “some operations” in an effort to lower operating expenses.

FedEx Express yesterday cancelled its $2.3 billion order for 10 A380Fs and placed an order for 15 777Fs with 15 options, becoming the first airline to cancel an A380 order and dealing a serious blow to beleaguered Airbus.

Now the sole shareholder in Airbus, EADS felt the full impact of the aircraft manufacturer’s troubles as it reported a €195 million ($248.8 million) third-quarter loss, a reversal from a €279 million profit in the year-ago quarter.

Atlas Air Worldwide Holdings, parent of Atlas Air and Polar Air Cargo, reported third-quarter net income of $7.1 million, significantly narrowed from a $29.9 million profit in the year-ago quarter.

SAS Group reported third-quarter net income of SEK604 million ($84.3 million), up 14.2% from a profit of SEK529 million in the year-ago quarter, on an 8.9% rise in revenues to SEK18.04 billion.

Japan Airlines emerged from a year in the red with a ¥28.2 billion ($239.2 million) profit in its second fiscal quarter ended Sept. 30, a figure calculated by ATWOnline based on the carrier’s half-year results released yesterday.