Singapore Airlines swung back to solid profits in 2015. Does this turnaround mean the airline is returning to its former glory, not seen since 2010? Or are low fuel prices just making everyone look good? Korean Air and Asiana continue to struggle with profit margins that barely stayed in positive territory. And the two Korean carriers are facing a new threat by way of some possible deregulation from China’s government.

India’s Jet Airways is seeing a dramatic improvement in its profits—could this carrier also be returning to its former glory? WestJet managed a nice fourth-quarter profit despite currency problems and a home market vulnerable to oil prices. And lastly, we consider Delta CEO Richard Anderson’s retirement.