Airlines Financial News

PwC: Aviation profitability stable in 2013

PwC: Aviation profitability stable in 2013

28th Jun 2013 Focus

Revenue growth has recovered to pre-recession levels and the US airline industry is expected to maintain profitability in 2013, according to Tailwinds, a report on the airline industry from PwC. However, while the industry has become better at managing capacity and generating ancillary revenues, it faces rising costs for fuel, labour and maintenance.

Pinnacle Airlines takes Chapter 11 bankruptcy

Pinnacle Airlines takes Chapter 11 bankruptcy

2nd Apr 2012 Airline News

Pinnacle Airlines has filed for bankruptcy protection as high fuel prices claim another victim in the travel industry. A fall in demand for travel in a sluggish economy also played a role in the decision, the carrier said in a statement on Sunday.

US airlines collect $5.7bn in fees

US airlines collect $5.7bn in fees

15th Jun 2011 Airline News

United States-based airlines collected almost $5.7 billion from baggage fees and reservation change fees in 2010, according to the airline financial data released today. The figures, collected by the US Department of Transportation’s Bureau of Transportation Statistics, revealed airlines received $3.4 billion from baggage fees and $2.3 billion from reservation change fees in 2010.

BA “pleased” with $89.5m cargo price fixing settlement

BA “pleased” with $89.5m cargo price fixing settlement

8th Jun 2011 Airline News

British Airways has said it is “pleased” with an agreement to pay $89.5m in settlement for a civil lawsuit in the US over fixing the price of air cargo. The deal follows an investigation by the Department of Justice into a breach of anti-trust rules within the air transport industry between 2000 and 2006.

IATA 2011: Sustainable profit holds key to future of aviation

IATA 2011: Sustainable profit holds key to future of aviation

6th Jun 2011 Focus

Sustainable profit is the key to future success of global aviation, according to head of the International Air Transport Association. Speaking at the aviation body’s 67th AGM in Singapore, Director General and CEO Giovanni Bisignani called upon the industry to build a sustainable future based on renewed leadership, continuous innovation, and co-operation.

Flybe shares nosedive on profit warning

Flybe shares nosedive on profit warning

6th May 2011 Airline News

Shares in the UK’s biggest domestic airline have nosedived 25 percent after it announced that full-year profits will come in short of expectations. Flybe blamed the failure to hit forecasts on high oil prices and a recent slowdown in consumer spending on air travel.

Global air travel shrinks in March

Global air travel shrinks in March

3rd May 2011 Airline News

Global passenger aviation fell in March due the Japanese earthquake, disruptions in the Middle East and higher fuel prices, however air freight continued to rebound strongly, according to the latest figures from the International Air Transport Association (IATA).

Lufthansa reports surging profits

Lufthansa reports surging profits

17th Mar 2011 Airline News

Europe’s biggest airline, Lufthansa, has reported a bigger-than-expected profit for 2010, on the back of resurgent long-haul traffic and a cost-cutting programme. The German carrier recorded a net profit of €1.1bn, up from a loss of €34m in 2009, and twice analyst expectations.