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.
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.
Global Airline capacity shows marginal growth after a year of decline reports OAG as August figures are released
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.
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.
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.
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.
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.
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.
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.
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.
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.