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%)
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.
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.
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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 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’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.
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 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 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.
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