Airlines Financial News
Low cost airlines add up to 44% in ‘extras’ to price of a ticket
On average, added ‘extras’ account for 37% of the total price for budget airfares compared to just 4% on standard ones; the highest charges are levied in Italy (45%) and the UK (38%), and the lowest in Germany (31%) and Spain (32%)
Lufthansa reports surging profits
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.
AirAsia eyes Thai and Indonesian IPOs
Malaysian budget carrier AirAsia is planning initial public offerings for its Indonesian and Thai operations to raise cash for expansion in both territories. Tony Fernandes, founder and chief executive, also said that the airline was close to receiving regulatory approval to start a third subsidiary in the Philippines.
Aviation returns to “normal” says IATA
The International Air Transport Association announced international traffic results for October showing a 10.1% year-on-year increase in passenger demand and a 14.4% year-on-year increase for international freight.
New survey shows consumers ‘Mad As Hell’ about hidden airline fees
Consumer and Travel Groups Launch MadAsHellAboutHiddenFees.com, Announce “Mad As Hell Day!” on September 23rd to Give Travelers a Voice on Hidden Fees
Aer Lingus returns from the cold
Resurgent long-haul traffic coupled with heavy cost cuts have helped Aer Lingus slash pre-tax losses in the first half of 2010. The Irish carrier also expects to break even by the end of the year.
Virgin traffic surges despite extending losses
Virgin Atlantic has experienced a surge in traffic over the past quarter as passenger desert strike-ridden rival British Airways. However this failed to prevent the long-haul carrier from registering heavy losses over the period.
easyJet flying high despite ash cloud
easyJet’s revenue has risen more than 5 percent over the past quarter, despite it taking a £65m hit due to the volcanic ash cloud. The budget carrier said it expects to make a full-year profit of £100-150m compared to £43.7m last year.
Soaring demand sends Singapore Airlines back to black
Singapore Airlines, the world’s second largest airline by market value, has posted stronger than expected quarterly profits on the back of resurgent passenger and freight demand.
Ryanair profits hit by ash cloud
Ryanair has suffered a 24 percent slump in profits after losing €50m of business due to Iceland’s volcanic ash cloud. However Europe’s largest low-cost carrier vowed to continue expanding across the continent, where it sees the potential for most growth.
Etihad posts record growth
Etihad Airways, the national carrier of the UAE, has reported its strongest ever first half figures, with passenger numbers rising 11 per cent and cargo traffic up 21.6 per cent.
Lockheed Martin Donates $3.5 Million Canadian Training Package to Saskatchewan Indian Institute
Lockheed Martin Donates $3.5 Million Canadian Training Package to Saskatchewan Indian Institute of Technologies