British Airways has reported a record £401 million (US$640 million) pre-tax loss in the fiscal year 2008 ending 31 March on the back of last year’s record high fuel prices and slumping demand later in the year as the global economy stalled. BA full-year revenue was up 2.7 per cent, but fell 8 per cent in the fourth quarter, the first decline since 2007. The carriers’ cargo division, BA World Cargo reported commercial revenue (flown revenue plus fuel surcharges) of … [Read more...] about BA posts record losses
Carriers
Emirates defies skeptics, posts 21st annual profit
Defying the naysayers, the Emirates Group has continued its unbroken string of annual profit, posting for the 21st consecutive year, a net profit of AED 1.49 billion (US$ 406 million) for the year ending 31 March 2009. Clearly not escaping the economic crisis however, the figure was down a whopping 80.4 per cent from last year's record profits of AED 5.0 billion ($1.37 billion). Revenues rose 9.9 per cent to AED 44.2 billion ($12 billion) from AED 40.2 billion ($10.95 billion) in the previous … [Read more...] about Emirates defies skeptics, posts 21st annual profit
IATA reiterates view that market has bottomed
The global economic crisis-induced air cargo downturn appears to have hit bottom as cargo volumes have remained down around 20 per cent year-on-year since crashing in December, the head of the International Air Transport Association (IATA) reiterated recently. "I would say, looking at the numbers, that it has hit bottom," the global association's director-general Giovanni Bisignani told Reuters on the sidelines of an environmental and business conference in Copenhagen which focused on climate … [Read more...] about IATA reiterates view that market has bottomed
Asia Pac cargo volumes remain steady at -22%
Figures released by the Association of Asia Pacific Airlines (AAPA) showed air cargo demand remained depressed in April, with AAPA international freight tonne kilometres (FTKs) down 21.9 per cent, year-on-year. The AAPA average international cargo load factor was five percentage points lower, at 62.8 per cent. For the first four months of the year, AAPA international air cargo traffic was down 24 per cent compared to the same period last year. “The air cargo business remains depressed as a … [Read more...] about Asia Pac cargo volumes remain steady at -22%
AeroLogic takes delivery of first B777F
Arriving from a non-stop flight from Boeing’s plant in Seattle, USA, the first of eight brand-new AeroLogic Boeing 777 freighters landed at Leipzig/Halle Airport yesterday. Leipzig/Halle Airport is the home of the new freight airline AeroLogic, a joint venture between DHL Express and Lufthansa Cargo. The aircraft is the first Boeing 777 freighter aircraft registered in Germany. The second aircraft is scheduled to follow in July 2009, numbers three and four are expected in December … [Read more...] about AeroLogic takes delivery of first B777F
AF-KLM posts narrower loss than expected
Air France-KLM posted a narrower than expected fourth quarter loss this week after capping staff costs and cutting capacity as it awaits for elusive signs of a recovering in passenger and cargo traffic. Europe's largest airline by revenue reported a fiscal fourth quarter net loss of €505 million (US$698.3 million) and a full-year net loss of €814 million compared with a €1.4 billion full year profit a year earlier, as a result of the ongoing global economic crisis. The … [Read more...] about AF-KLM posts narrower loss than expected