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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.
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.
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.
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).
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.