https://www.breakingtravelnews.com/tags/tag/airlines financial/ Airlines Financial News en Breaking Travel News Copyright 2026 2026-04-19T09:20:05+00:00 https://www.breakingtravelnews.com/news/article/germania-becomes-latest-european-carrier-to-file-for-bankruptcy/ https://www.breakingtravelnews.com/news/article/germania-becomes-latest-european-carrier-to-file-for-bankruptcy/ Low-cost carrier Germania has slipped into administration and cancelled all flights with immediate effect. The decision will see sister maintenance company Germania Technik Brandenburg also file for insolvency at Amtsgericht Berlin-Charlottenburg. Tue, 05 Feb 2019 14:44:51 +0000 https://www.breakingtravelnews.com/news/article/bp-ventures-to-invest-10m-in-jet-charter-marketplace-victor/ https://www.breakingtravelnews.com/news/article/bp-ventures-to-invest-10m-in-jet-charter-marketplace-victor/ Business-to-consumer jet charter marketplace Victor has announced the signing of a strategic investment agreement with BP Ventures. BP’s investment arm has committed to invest $10 million as lead investor to Victor’s Series B fundraising round. Thu, 21 Sep 2017 08:35:50 +0000 https://www.breakingtravelnews.com/focus/article/pwc-aviation-profitability-stable-in-2013/ https://www.breakingtravelnews.com/focus/article/pwc-aviation-profitability-stable-in-2013/ 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. Fri, 28 Jun 2013 09:00:38 +0000 https://www.breakingtravelnews.com/news/article/pinnacle-airlines-takes-chapter-11-bankruptcy/ https://www.breakingtravelnews.com/news/article/pinnacle-airlines-takes-chapter-11-bankruptcy/ 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. Mon, 02 Apr 2012 08:42:04 +0000 https://www.breakingtravelnews.com/news/article/airlines-increase-the-cost-of-carrying-golf-equipment-for-the-traveller-by/ https://www.breakingtravelnews.com/news/article/airlines-increase-the-cost-of-carrying-golf-equipment-for-the-traveller-by/ New research from Purple Parking today reveals that many of the major airlines have hiked up the price of transporting golf equipment. Wed, 31 Aug 2011 17:38:01 +0000 https://www.breakingtravelnews.com/news/article/us-airlines-collect-5.7bn-in-fees/ https://www.breakingtravelnews.com/news/article/us-airlines-collect-5.7bn-in-fees/ 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. Wed, 15 Jun 2011 21:04:58 +0000 https://www.breakingtravelnews.com/news/article/ba-pleased-with-89.5m-cargo-price-fixing-settlement/ https://www.breakingtravelnews.com/news/article/ba-pleased-with-89.5m-cargo-price-fixing-settlement/ 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. Wed, 08 Jun 2011 12:06:56 +0000 https://www.breakingtravelnews.com/focus/article/iata-2011-sustainable-profit-holds-key-to-future-of-aviation/ https://www.breakingtravelnews.com/focus/article/iata-2011-sustainable-profit-holds-key-to-future-of-aviation/ 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. Mon, 06 Jun 2011 15:48:30 +0000 https://www.breakingtravelnews.com/news/article/ryanair-notches-up-record-profits-but-warns-on-outlook/ https://www.breakingtravelnews.com/news/article/ryanair-notches-up-record-profits-but-warns-on-outlook/ Ryanair has reported record profits and passenger numbers for the year ending 31 March but warned that soaring fuel prices would lead to flat figures over the next twelve months and the possibility of it grounding aircraft. Mon, 23 May 2011 11:58:06 +0000 https://www.breakingtravelnews.com/news/article/flybe-shares-nosedive-on-profit-warning/ https://www.breakingtravelnews.com/news/article/flybe-shares-nosedive-on-profit-warning/ 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. Fri, 06 May 2011 17:01:21 +0000 https://www.breakingtravelnews.com/news/article/japanese-earthquake-and-north-africa-uprisings-dent-lufthansa-earnings/ https://www.breakingtravelnews.com/news/article/japanese-earthquake-and-north-africa-uprisings-dent-lufthansa-earnings/ Political unrest in North Africa and the Japanese earthquake have dented Lufthansa’s first quarter earnings. But Europe’s largest carrier said its on-going cost cutting programme and solid demand for air travel will keep its full-year outlook on track. Thu, 05 May 2011 16:22:34 +0000 https://www.breakingtravelnews.com/news/article/global-air-travel-shrinks-in-march/ https://www.breakingtravelnews.com/news/article/global-air-travel-shrinks-in-march/ 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). Tue, 03 May 2011 11:12:26 +0000 https://www.breakingtravelnews.com/news/article/low-cost-airlines-add-up-to-44-in-extras-to-price-of-a-ticket/ https://www.breakingtravelnews.com/news/article/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%) Mon, 18 Apr 2011 19:00:28 +0000 https://www.breakingtravelnews.com/news/article/lufthansa-reports-surging-profits/ https://www.breakingtravelnews.com/news/article/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. Thu, 17 Mar 2011 12:23:44 +0000 https://www.breakingtravelnews.com/news/article/airasia-eyes-thai-and-indonesian-ipos/ https://www.breakingtravelnews.com/news/article/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. Fri, 25 Feb 2011 12:29:46 +0000 https://www.breakingtravelnews.com/news/article/aviation-returns-to-normal-says-iata/ https://www.breakingtravelnews.com/news/article/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. Thu, 25 Nov 2010 10:47:13 +0000 https://www.breakingtravelnews.com/news/article/new-survey-shows-consumers-mad-as-hell-about-hidden-airline-fees/ https://www.breakingtravelnews.com/news/article/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 Wed, 08 Sep 2010 14:32:51 +0000 https://www.breakingtravelnews.com/news/article/aer-lingus-returns-from-the-cold/ https://www.breakingtravelnews.com/news/article/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. Tue, 24 Aug 2010 17:25:58 +0000 https://www.breakingtravelnews.com/news/article/virgin-traffic-surges-despite-extending-losses/ https://www.breakingtravelnews.com/news/article/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. Fri, 30 Jul 2010 13:18:46 +0000 https://www.breakingtravelnews.com/news/article/easyjet-revenues-rise-despite-volcano/ https://www.breakingtravelnews.com/news/article/easyjet-revenues-rise-despite-volcano/ 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. Wed, 28 Jul 2010 07:23:10 +0000 https://www.breakingtravelnews.com/news/article/singapore-airlines-returns-to-profit/ https://www.breakingtravelnews.com/news/article/singapore-airlines-returns-to-profit/ 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. Tue, 27 Jul 2010 14:03:49 +0000 https://www.breakingtravelnews.com/news/article/ryanair-profits-hit-by-ash-cloud/ https://www.breakingtravelnews.com/news/article/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. Tue, 20 Jul 2010 12:57:29 +0000 https://www.breakingtravelnews.com/news/article/etihad-posts-record-growth/ https://www.breakingtravelnews.com/news/article/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. Tue, 20 Jul 2010 12:48:02 +0000 https://www.breakingtravelnews.com/news/article/lockheed-martin-donates-3.5-million-canadian-training-package-to-saskatchew/ https://www.breakingtravelnews.com/news/article/lockheed-martin-donates-3.5-million-canadian-training-package-to-saskatchew/ Lockheed Martin Donates $3.5 Million Canadian Training Package to Saskatchewan Indian Institute of Technologies Fri, 25 Jun 2010 15:59:44 +0000 https://www.breakingtravelnews.com/news/article/annual-report-for-fiscal-year-2009-of-china-eastern-airlines-corporation-li/ https://www.breakingtravelnews.com/news/article/annual-report-for-fiscal-year-2009-of-china-eastern-airlines-corporation-li/ China Eastern Airlines Corporation Limited (the “Company”; NYSE: CEA; SEHK: 0670; SSE: 600115) announces that the Company’s annual report for the 2009 fiscal year filed with the SEC on June 24, 2010 can be accessed. Fri, 25 Jun 2010 14:12:44 +0000 https://www.breakingtravelnews.com/news/article/uk-coalition-moots-apd-changes/ https://www.breakingtravelnews.com/news/article/uk-coalition-moots-apd-changes/ The British government has mooted the possibility of changes to the deeply unpopular Air Passenger Duty in an emergency budget. Addressing the House of Commons, chancellor of the exchequer George Osborne suggested the government was willing to “explore changes to the aviation tax system”. Tue, 22 Jun 2010 16:51:35 +0000 https://www.breakingtravelnews.com/news/article/jet-booking-directs-profits-climb-41-in-2010-as-jet-charter-comes-of-age/ https://www.breakingtravelnews.com/news/article/jet-booking-directs-profits-climb-41-in-2010-as-jet-charter-comes-of-age/ Jet Booking Direct announced today that its business has achieved a 41% uplift in 2010 as corporate and private clients move in increasing numbers from the commercial operators to embrace the reliability, quality of service and ease of use of private jet charter. Thu, 10 Jun 2010 14:53:09 +0000 https://www.breakingtravelnews.com/news/article/nigeria-to-bail-out-struggling-airlines/ https://www.breakingtravelnews.com/news/article/nigeria-to-bail-out-struggling-airlines/ Nigeria’s central bank is extending a US$3.3bn bail-out to its struggling aviation industry as a number of carriers have sunk heavily into debt due to aggressive expansion, the rising price of oil, and fierce competion within the domestic market. Tue, 01 Jun 2010 14:12:35 +0000 https://www.breakingtravelnews.com/news/article/ryanair-profits-soar-280-percent/ https://www.breakingtravelnews.com/news/article/ryanair-profits-soar-280-percent/ Ryanair has defied the aviation slump by posting a 280 percent increase in pre-tax profits to €350m for the full financial year. The budget carrier also said it will pay its first ever dividend, a one-off payment of €500m, with Michael O’Leary set for a €20m windfall. Tue, 01 Jun 2010 11:15:16 +0000 https://www.breakingtravelnews.com/news/article/virgin-blue-shares-bomb-as-leisure-markets-deteriorates/ https://www.breakingtravelnews.com/news/article/virgin-blue-shares-bomb-as-leisure-markets-deteriorates/ Shares in Virgin Blue, Australia’s second largest carrier, fell as much as 30 per cent on Friday after it revealed that full-year profits could be as much as 75 percent lower than forecast only weeks ago. It blamed a “rapid deterioration and increased volatility” in trading, with leisure bookings hit particularly hard. Fri, 28 May 2010 13:44:30 +0000 https://www.breakingtravelnews.com/news/article/air-france-ends-annus-horribilis-with-record-1.6bn-loss/ https://www.breakingtravelnews.com/news/article/air-france-ends-annus-horribilis-with-record-1.6bn-loss/ Air France-KLM has reported a record loss of €1.56 billion in what its chief executive described as the airline’s “annus horribilis”. After a year marked by the crash of Flight 447 off the coast of Brazil, Europe’s largest airline blamed the losses on passengers shifting to low-cost carriers and downgrading from business to economy. Thu, 20 May 2010 13:16:42 +0000 https://www.breakingtravelnews.com/news/article/bmi-expects-100m-restructure-to-prevent-break-up/ https://www.breakingtravelnews.com/news/article/bmi-expects-100m-restructure-to-prevent-break-up/ BMI expects a major restructuring programme will halve losses this year, and save the airline from imminent break up. The £100m cost savings aim to reverse the fortunes of the Lufthansa-owned carrier, which lost £156m last year. These will include 800 redundancies, cutting 10 aircraft and axing unprofitable routes. Thu, 15 Apr 2010 13:32:15 +0000 https://www.breakingtravelnews.com/news/article/up-and-away-for-korean-air/ https://www.breakingtravelnews.com/news/article/up-and-away-for-korean-air/ A resurgent Korean economy led by booming technology exports has helped the country’s largest carrier, Korean Air, post record first quarter sales and operating profits. The airline also said it expects to beat its 2010 profit target as the global appetite for technology returns, plus strong growth in transit passenger numbers and plans to boost international routes. Thu, 15 Apr 2010 13:26:28 +0000 https://www.breakingtravelnews.com/news/article/virgin-blue-orders-105-boeing-737s/ https://www.breakingtravelnews.com/news/article/virgin-blue-orders-105-boeing-737s/ Virgin Blue, Australia’s second largest airline, is to embark on a massive spending spree with the purchase of 105 Boeing 737 aircraft. The order represents the largest for Boeing in the past 18 months, as well as the Virgin Blue’s most significant fleet upgrade in its 10-year history. Sat, 03 Apr 2010 11:57:53 +0000 https://www.breakingtravelnews.com/news/article/aviation-rebounds-strongly-in-2010/ https://www.breakingtravelnews.com/news/article/aviation-rebounds-strongly-in-2010/ The aviation industry has been given its cleanest bill of health yet post downturn, with news from IATA that both passenger and cargo air traffic grew strongly last month. Global demand was up 9.5% for passengers and 26.5% for cargo, compared to February 2009. Tue, 30 Mar 2010 13:52:01 +0000 https://www.breakingtravelnews.com/news/article/from-bad-to-worse-for-aer-lingus1/ https://www.breakingtravelnews.com/news/article/from-bad-to-worse-for-aer-lingus1/ Troubles at Aer Lingus have deepened after the former Irish flag carrier warned that operating losses quadrupled to €81 million last year due to a collapse in fares. Tue, 09 Mar 2010 12:55:48 +0000 https://www.breakingtravelnews.com/news/article/qantas-slashes-first-class-as-profits-slide/ https://www.breakingtravelnews.com/news/article/qantas-slashes-first-class-as-profits-slide/ Qantas Airways is cutting first-class seats from all but a few key routes following a 72 percent slump in profits. The flag carrier blamed the figures on falling customer demand and said it was also scrapping dividend payments. Thu, 18 Feb 2010 11:23:15 +0000 https://www.breakingtravelnews.com/news/article/ba-reports-surprise-profit-but-still-on-course-for-record-losses/ https://www.breakingtravelnews.com/news/article/ba-reports-surprise-profit-but-still-on-course-for-record-losses/ British Airways has surprised the markets by posting its first operating profit in more than a year, but still expects to rack up the heaviest annual losses since privatisation in 1987. Fri, 05 Feb 2010 19:03:34 +0000 https://www.breakingtravelnews.com/news/article/ryanair-bullish-as-losses-narrow/ https://www.breakingtravelnews.com/news/article/ryanair-bullish-as-losses-narrow/ Ryanair has raised its forecast for this year as narrowing losses and a better mix of new routes are expected to put Europe’s budget carrier back into the black. It also reported a €10.9 million loss for quarter ending December 31, compared to a €101.5 million loss year-on-year. Mon, 01 Feb 2010 11:33:12 +0000 https://www.breakingtravelnews.com/news/article/russian-billionaire-lebedev-sells-aeroflot-stake-for-400m/ https://www.breakingtravelnews.com/news/article/russian-billionaire-lebedev-sells-aeroflot-stake-for-400m/ Russian oligarch Alexander Lebedev is to sell his stake in Aeroflot for $400m (£247m) in a bid to raise cash for other projects in aviation, agriculture and publishing. He was the state-controlled airline’s largest shareholder with 25.8 percent. Thu, 28 Jan 2010 14:33:55 +0000 https://www.breakingtravelnews.com/news/article/back-to-black-for-boeing/ https://www.breakingtravelnews.com/news/article/back-to-black-for-boeing/ Aerospace giant Boeing has reported a sharp rise in fourth quarter revenues, up 42% to $17.9bn, ahead of forecasts. The increase came despite the poor economic climate, with net income for the period $1.27bn, compared with a loss of $86m year-on-year. Thu, 28 Jan 2010 14:15:30 +0000 https://www.breakingtravelnews.com/news/article/strong-tiger-ipo-as-aviaiton-returns-to-financial-favour/ https://www.breakingtravelnews.com/news/article/strong-tiger-ipo-as-aviaiton-returns-to-financial-favour/ Low-cost carrier Tiger Airways has made a strong debut on the Singapore stock market, signalling a return to financial favour of the aviation sector. The Singapore-based airline raised S$248m (US$177m) in the first IPO by an Asian airline for five years. Fri, 22 Jan 2010 16:50:59 +0000 https://www.breakingtravelnews.com/news/article/easyjet-revenues-soar-despite-snow-chaos/ https://www.breakingtravelnews.com/news/article/easyjet-revenues-soar-despite-snow-chaos/ EasyJet has managed to post strong revenue growth, despite its schedules being severely disrupted over the past month due to the big winter freeze. The budget carrier cited higher load factors, a hike in non-UK passengers and greater capacity for contributing to double-digit revenue growth over the past quarter. Thu, 21 Jan 2010 11:25:54 +0000 https://www.breakingtravelnews.com/news/article/boeing-orders-plummet/ https://www.breakingtravelnews.com/news/article/boeing-orders-plummet/ Boeing says its customers ordered just 142 commercial aircraft last year as the recession forced airlines to shrink, leaving the aerospace company neck and neck with archrival Airbus. Fri, 08 Jan 2010 17:15:24 +0000 https://www.breakingtravelnews.com/news/article/key-air-completes-recapitalization-transaction/ https://www.breakingtravelnews.com/news/article/key-air-completes-recapitalization-transaction/ Existing Equity Investors Acquire Key Air Debt; Transaction Ensures Key Air’s Long-Term Financial Stability and Facilitates Growth Strategy Tue, 29 Dec 2009 10:50:21 +0000 https://www.breakingtravelnews.com/news/article/japanese-government-refuses-to-guarantee-jal-bail-out/ https://www.breakingtravelnews.com/news/article/japanese-government-refuses-to-guarantee-jal-bail-out/ The Japanese government has said that it will not guarantee funding for debt-ridden national carrier Japan Airlines, meaning a tie-up with an American airline has emerged as the most likely candidate to option avoid insolvency. Thu, 24 Dec 2009 12:05:10 +0000 https://www.breakingtravelnews.com/news/article/australian-government-relaxing-foreign-ownership-in-qantas/ https://www.breakingtravelnews.com/news/article/australian-government-relaxing-foreign-ownership-in-qantas/ Qantas will be given freer reign to raise capital following plans by Australia’s government to ease foreign ownership rules. This would allow the airline to play a greater roll in the consolidation of the global airline industry in the downturn, as well as expansion under new open skies agreements. Thu, 17 Dec 2009 12:29:12 +0000 https://www.breakingtravelnews.com/news/article/bas-mushrooming-pension-deficit-threatens-iberia-merger/ https://www.breakingtravelnews.com/news/article/bas-mushrooming-pension-deficit-threatens-iberia-merger/ The odds of a merger between British Airways and Iberia have lengthened following news that the pension deficit of the British flag carrier has grown by £1.6bn over the past year. BA may now no longer be able to meet long-term payments to its entire workforce, which has been the main sticking point in the proposed tie-up with Iberia. Tue, 15 Dec 2009 11:32:14 +0000 https://www.breakingtravelnews.com/news/article/jal-poised-for-7.8bn-government-bailout/ https://www.breakingtravelnews.com/news/article/jal-poised-for-7.8bn-government-bailout/ The fate of Japan Airlines has taken another twist after it has emerged that the government is considering loan guarantees to the tune of Y700bn ($7.8bn) to bail out the beleaguered carrier. The move would thwart the recent take-over attempts by American Airlines and Delta despite the enormous risk to take-payers money. Mon, 07 Dec 2009 11:15:13 +0000 https://www.breakingtravelnews.com/news/article/tiger-poised-for-ipo-next-month/ https://www.breakingtravelnews.com/news/article/tiger-poised-for-ipo-next-month/ Singapore’s Tiger Airways is set for an initial public offering next month in a bid to help finance the purchase of a fleet of 50 Airbus A320s. It is planning to sell up to 51 per cent of its shares, which could raise as much as $1bn. Fri, 04 Dec 2009 10:56:40 +0000 https://www.breakingtravelnews.com/news/article/air-france-to-cut-1700-jobs-as-losses-widen/ https://www.breakingtravelnews.com/news/article/air-france-to-cut-1700-jobs-as-losses-widen/ Air France-KLM is to cut 1,700 jobs next year after posting a worse-than-expected quarterly loss. The Franco-Dutch carrier, which is already cutting 3,000 jobs this year, reported a net loss of €147m, which it blamed on fuel hedging losses and poor cargo traffic. Thu, 19 Nov 2009 12:26:26 +0000 https://www.breakingtravelnews.com/news/article/aer-lingus-poised-to-make-job-cuts-in-us100m-cost-cuts/ https://www.breakingtravelnews.com/news/article/aer-lingus-poised-to-make-job-cuts-in-us100m-cost-cuts/ Beleaguered Aer Lingus is expected to announce further job cuts as it concludes talks with trade unions this week as part of a new round of US$100m cost cuts. Tue, 17 Nov 2009 13:07:14 +0000 https://www.breakingtravelnews.com/news/article/easyjet-warns-of-tough-times-ahead-as-profits-slump-two-thirds/ https://www.breakingtravelnews.com/news/article/easyjet-warns-of-tough-times-ahead-as-profits-slump-two-thirds/ EasyJet has warned of a “tough winter ahead” as it unveiled a 65 percent slump in annual pre-tax profits. It citied a fall in demand due to rising unemployment coupled with poorly-timed fuel hedging for profits falling to £43.7m in the 12 months to September 30. Tue, 17 Nov 2009 12:03:03 +0000 https://www.breakingtravelnews.com/news/article/jal-racks-up-1.5-billion-first-half-loss/ https://www.breakingtravelnews.com/news/article/jal-racks-up-1.5-billion-first-half-loss/ Japan Airlines has revealed a $1.5 billion loss as it struggles to recover from the travel industry’s deepest slump in years. The company is seeking government help to deal with creditors. Mon, 16 Nov 2009 09:12:13 +0000 https://www.breakingtravelnews.com/news/article/bmi-can-survive-despite-losses/ https://www.breakingtravelnews.com/news/article/bmi-can-survive-despite-losses/ British Midland Airways, or bmi, has countered the suggestion that it will not be capable of continuing operations beyond this year and says it will be able to meet its financial commitments and had adequate resources. Thu, 12 Nov 2009 09:47:35 +0000 https://www.breakingtravelnews.com/news/article/global-airline-capacity-up-1.04-but-growth-slowing/ https://www.breakingtravelnews.com/news/article/global-airline-capacity-up-1.04-but-growth-slowing/ Global airline capacity for October 2009 is showing positive growth of 1.04% compared to October 2008, down slightly from September’s growth of 1.4%, reports OAG, (www.oagaviation.com), the world’s leading aviation data business, as it releases its monthly report on trends in the supply of airline flights and seats.  The world’s airlines have 299.9 million seats available this month, a rise of 1.04% (3,091,580 more seats) over October 2008 levels. Thu, 08 Oct 2009 11:12:01 +0000 https://www.breakingtravelnews.com/news/article/jal-shelves-talks-with-delta-and-aa/ https://www.breakingtravelnews.com/news/article/jal-shelves-talks-with-delta-and-aa/ Beleaguered Japan Airlines has temporarily shelved plans to seek a bailout from a foreign carrier until a Japanese government taskforce finishes a review of its financial structure. Delta Air Lines and American Airlines were in separate talks to invest in JAL as a means of gaining foothold in Japan and Asia, but must now wait for the completion of the review. Tue, 06 Oct 2009 11:50:10 +0000 https://www.breakingtravelnews.com/news/article/airlines-to-post-record-breaking-losses/ https://www.breakingtravelnews.com/news/article/airlines-to-post-record-breaking-losses/ Airlines are predicted to lose a total of $11 billion this year according to IATA – $2 billion worse than previously predicted. The impact of the recession on the airline industry is “worse than the impact of 9/11,” according to IATA CEO Giovanni Bisignani. He predicted that losses would continue until 2010 with the industry expected to report a $3.8 billion net loss. Wed, 16 Sep 2009 09:50:37 +0000 https://www.breakingtravelnews.com/news/article/iberia-to-cut-capacity-to-stem-growing-losses/ https://www.breakingtravelnews.com/news/article/iberia-to-cut-capacity-to-stem-growing-losses/ Iberia has vowed to accelerate its cost-cutting programme after sliding further into the red over the second quarter. Jobs are set to go, aircraft withdrawn from its fleet and wages frozen as Spain’s largest carrier also warned that it would be heading for its first annual loss in a decade. Fri, 28 Aug 2009 12:59:11 +0000 https://www.breakingtravelnews.com/news/article/aer-lingus-losses-treble-as-low-cost-tactic-backfires/ https://www.breakingtravelnews.com/news/article/aer-lingus-losses-treble-as-low-cost-tactic-backfires/ Losses at troubled Aer Lingus have more than trebled over the first half of 2009 as its attempts to reinvent itself as a low-cost carrier appear to have backfired. The Irish carrier reported losses of €73.9m, compared to €21.6m a year earlier, as average fares slumped 17% despite rising oil prices. Thu, 27 Aug 2009 13:01:26 +0000 https://www.breakingtravelnews.com/news/article/air-berlin-keeps-on-financial-track-but-may-ditch-787-order/ https://www.breakingtravelnews.com/news/article/air-berlin-keeps-on-financial-track-but-may-ditch-787-order/ Air Berlin has reported a 33% jump in profits the second quarter, to €17.6m from €13.2m in the same period last year. But the airline says it is shelving plans to sell its freight unit due to lack of interest, and may also cancel its order for 25 Boeing 787s because of delivery delays. Wed, 26 Aug 2009 13:12:17 +0000 https://www.breakingtravelnews.com/news/article/qantas-stays-in-black-despite-88-slide/ https://www.breakingtravelnews.com/news/article/qantas-stays-in-black-despite-88-slide/ Qantas remains “financially strong” after becoming one of the few airlines to stay in the black over the past 12 months. Nevertheless, net income for the Australian flag carrier for the year ending 30 June slumped 88% to AU$117m (US$96.5m), leading it to announce an AU$1.5bn campaign of further cost cuts. Wed, 19 Aug 2009 10:53:18 +0000 https://www.breakingtravelnews.com/news/article/global-airline-capacity-shows-marginal-growth-after-a-year-of-decline-repor/ https://www.breakingtravelnews.com/news/article/global-airline-capacity-shows-marginal-growth-after-a-year-of-decline-repor/ Global Airline capacity shows marginal growth after a year of decline reports OAG as August figures are released Tue, 18 Aug 2009 13:44:40 +0000 https://www.breakingtravelnews.com/news/article/sas-to-cut-up-to-1500-jobs/ https://www.breakingtravelnews.com/news/article/sas-to-cut-up-to-1500-jobs/ SAS says it is to cut up to 1,500 jobs after unveiling wider second-quarter losses on falling traffic. The Scandinavian carrier aims to save 2bn Swedish kronor ($276m) as part of a new round of cuts, which also includes a 10-20% cut in pay and pensions for cabin crew and pilots. Wed, 12 Aug 2009 12:16:37 +0000 https://www.breakingtravelnews.com/news/article/back-to-black-for-china-eastern/ https://www.breakingtravelnews.com/news/article/back-to-black-for-china-eastern/ Fuel hedging gains have helped China Eastern Airlines return to profitability in the first half, despite a 15.6 percent slump in revenue. The airline also remained bullish for the second half, saying economic growth in China remained strong and that it would benefit from World Expo which is being held in Shanghai next year. Tue, 11 Aug 2009 14:30:09 +0000 https://www.breakingtravelnews.com/news/article/jal-quarterly-losses-slump-to-record-1bn/ https://www.breakingtravelnews.com/news/article/jal-quarterly-losses-slump-to-record-1bn/ Japan Airlines has posted a record Y99bn ($1bn) loss in the quarter ending 30 June as the recession and fears over swine flu led to passenger numbers plummeting by a third. The airline also announced plans to cut or reduce services on 16 domestic and international routes. Fri, 07 Aug 2009 11:42:33 +0000 https://www.breakingtravelnews.com/news/article/ryanair-forges-ahead-of-easyjet/ https://www.breakingtravelnews.com/news/article/ryanair-forges-ahead-of-easyjet/ Ryanair is forging ahead of easyJet in its battle for the title of Europe’s largest low-cost carrier. The Irish carrier posted a 19 percent growth in traffic, a new monthly traffic record of 6.7m passengers, compared to a 4.3 percent gain, or 4.66m passengers, for its Luton-based arch rival. Thu, 06 Aug 2009 13:20:35 +0000 https://www.breakingtravelnews.com/news/article/ba-shows-green-shoots-of-recovery/ https://www.breakingtravelnews.com/news/article/ba-shows-green-shoots-of-recovery/ British Airways has given its shareholders the first piece of good news this year by reporting an improvement in passenger volumes and fewer empty seats in July. However premium traffic continued to slide as business passengers downsized to economy. Thu, 06 Aug 2009 09:58:18 +0000 https://www.breakingtravelnews.com/news/article/cathay-swings-into-profit/ https://www.breakingtravelnews.com/news/article/cathay-swings-into-profit/ Fuel-hedging gains have helped Cathay Pacific swing into profit for the first half of 2009, despite a 27 percent slump in revenue. The airline reported a net profit of HK$812m (US$104.8m) for January-June, compared with a loss of HK$760m a year earlier. Wed, 05 Aug 2009 13:22:56 +0000 https://www.breakingtravelnews.com/news/article/ba-posts-first-quarterly-loss-since-privatisation/ https://www.breakingtravelnews.com/news/article/ba-posts-first-quarterly-loss-since-privatisation/ British Airways has sunk to new a low by posting record pre-tax losses of £148m for the three months ending 30 June, its first quarterly loss since privatisation in 1987. But passenger numbers stabilised during the period and are showing some signs of improvement for the peak summer months. Fri, 31 Jul 2009 10:32:27 +0000 https://www.breakingtravelnews.com/news/article/easyjet-remains-resilient-in-downturn/ https://www.breakingtravelnews.com/news/article/easyjet-remains-resilient-in-downturn/ easyJet has said that non-UK holidaymakers taking advantage of the strong Euro have left it “resilient” in the global downturn, and expects to be one of the few airlines to turn in a profit this year. Wed, 29 Jul 2009 13:11:38 +0000 https://www.breakingtravelnews.com/news/article/virgin-blue-seeks-190m-to-head-off-record-losses/ https://www.breakingtravelnews.com/news/article/virgin-blue-seeks-190m-to-head-off-record-losses/ Virgin Blue is looking to raise AU$231 million (US$190 million) in a heavily-discounted share sale after warning today that it was likely to post a full-year loss. Australia’s second-largest airline said the funds would help boost its coffers after this year suffering the worst operating environment in its 10-year history. Mon, 27 Jul 2009 14:07:16 +0000 https://www.breakingtravelnews.com/news/article/ba-given-680m-cash-boost/ https://www.breakingtravelnews.com/news/article/ba-given-680m-cash-boost/ British Airways has been given a lift after the trustees of its pension fund agreed to forgo £330 million in guarantees. The bail-out comes on top of last week’s agreement by institutional investors to raise £350 through a convertible bond. Mon, 20 Jul 2009 14:02:44 +0000