British Airways reported a consolidated net loss of £49 million in its fiscal first half ended 30 September, which indicated a steep second-quarter deficit of £76 million, a reversal from earnings of £333 million in the same period a year earlier. Half-year revenue climbed 6.4 per cent year-on-year to £4.75 billion. But operating costs surged 18.2 per cent to £4.61 billion, due primarily to the “dramatic” 52 per cent increase in fuel costs. The carrier expects its full-year … [Read more...] about EUROPE & CIS: BA 1H down, but looks to small full-year profit
EUROPE & CIS: BA Qantas tie-up talks to continue in new year
Willie Walsh, BA chief executive and former Aer Lingus colleague, are understood to have met on “neutral” ground in Hong Kong, home of Cathay Pacific, one of their partners in the Oneworld code and passenger sharing alliance in early December, according to wire reports. Australian sources said advisers to the two sides – UBS, Macquarie Group and Greenhill – would start fresh talks after the Christmas holiday to hammer out the final details of a merger that involves the … [Read more...] about EUROPE & CIS: BA Qantas tie-up talks to continue in new year
EUROPE & CIS: Aeroflot Cargo signs 5 year deal with CHAMP
Aeroflot Cargo Airlines has announced a five-year deal with CHAMP Cargosystems which will see the airline migrate to the new generation Cargospot system. The new technology will deliver complete end-to-end control over the sale and management of cargo by integrating the processes of all the airline’s cargorelated business activities. This comes at a time when Aeroflot Cargo is undergoing a fleet renewal programme, planning to increase its fleet to six MD-11Fs in 2009 and maximising … [Read more...] about EUROPE & CIS: Aeroflot Cargo signs 5 year deal with CHAMP
EUROPE & CIS: Lufthansa clears first hurdle in Austrian acquisition
Lufthansa’s supervisory board approved, in early December, the acquisition of Austrian Airlines Group, starting with the purchase of state holding company OIAG’s 41.56 per cent share for €366,000 (US$463,000). Lufthansa said it also will issue a debtor warrant potentially worth up to €163 million, “depending on Austrian Airlines’ economic performance and the Lufthansa share outperforming its competitors.” The German company then will make a €215 million … [Read more...] about EUROPE & CIS: Lufthansa clears first hurdle in Austrian acquisition
EUROPE & CIS: Emirates appoints Globe Air Cargo in Hungary
Emirates SkyCargo has appointed Globe Air Cargo, part of the European Cargo Services group, as its general sales agent in Hungary. The airline currently operates a thrice-weekly trucking service from Budapest to connect with its passenger and all-cargo flights from Vienna to Dubai. Its daily Boeing 777 flights can each carry up to 13.6 tonnes of cargo and Emirates also operates a Boeing 747 freighter service ex Vienna to Dubai every Saturday offering a further 90.7 tons of capacity. Globe Air … [Read more...] about EUROPE & CIS: Emirates appoints Globe Air Cargo in Hungary
EUROPE & CIS: Virgin eyes potential aircraft purchases
Delays to Boeing’s Dreamliner programme may prompt Virgin Atlantic Airways to place additional aircraft orders, possibly for 777s or the A350 XWB, while it is in talks with Boeing on compensation for the delay of its 787s. Virgin placed a firm order for 15 787-9s in April 2007 and had expected delivery of its first 3-4 aircraft in 2011 and all of them by 2014. The carrier, which pushed delivery of the first of its six A380s back to 2013, also remains interested in the A380 stretch … [Read more...] about EUROPE & CIS: Virgin eyes potential aircraft purchases
