Alaska Airlines posted fourth-quarter profits aided by the success of their cargo fleet and an increase in mail. For the first time ever, Alaska Airlines cargo surpassed US$100 million in revenue from airfreight and mail as the group posted a fourth-quarter net profit for 2008 of US$16.4 million, compared to a net loss of US$17.9 million in the fourth quarter of 2007. … [Read more...] about Alaska Air cargo defies downturn
Carriers
Philippine Air sinks further into red
Philippine Airlines, a subsidiary of PAL Holdings Inc, incurred a net loss of US$113.8 million for the fiscal first half ended Sept 30 and widened that loss in the third quarter ending 31 December with a massive US$215.9 million loss. The third quarter loss was partially attributed to a US$42.4 million loss from fuel hedging contracts, the carrier said. … [Read more...] about Philippine Air sinks further into red
TNT reports 60% fall in 4Q profits
Dutch mail and express company TNT reported a 60 per cent fall in profit for the fourth quarter this week citing restructuring charges and worsening business conditions, especially in its express delivery arm. Net profit at Amsterdam-based TNT was €207 million, down from €250 million in the same period a year earlier. Sales fell 2.4 per cent to €2.93 billion. The company took €146 million in charges during the quarter to restructure both its mail and express divisions, … [Read more...] about TNT reports 60% fall in 4Q profits
Air India to go-ahead with B777 deliveries
Air India plans to go ahead with its planned delivery of the final three of eight B777-200LRs between June and August this year, despite the global crisis and resulting aviation downturn. Air India plans to deploy the aircraft on a new non-stop service to San Francisco in the second half of 2009. The National Aviation Co. of India Ltd., the state-owned parent of carrier Air India, plans to borrow US$1.06 billion to fund the purchase of these and additional aircraft from Boeing. India¡¯s … [Read more...] about Air India to go-ahead with B777 deliveries
ME carriers to see losses double in ¡¯09
The Middle East aviation industry should brace for further turbulence this year, with the region¡¯s airlines poised to rack up combined losses of $200 million this year ¨C twice the amount they lost in 2008, according to the International Air Transport Association (IATA). IATA warned that growth in regional passenger and air cargo traffic in 2009 would ¡°slow to a crawl¡± of only about 1.2 per cent due to the global recession. At the same time, IATA forecasts that capacity for Middle … [Read more...] about ME carriers to see losses double in ¡¯09
Maximus Air Cargo doubles its turnover
Heavy-lift specialist, Maximus Air Cargo appears to be immune from the global economic crisis with a more than doubling of its turnover for the 2008 over the previous year. Maximus chaulked up total sales revenue of US$110.8 million up 134 per cent from the US$47.3 million a year earlier, driven by what it said was an expansion in fleet capacity and consistent dispatch reliability. Freight-tonne kilometres flown during the year grew to 347,785 ¨C up 156 per cent from 135,996 in 2007. Hours … [Read more...] about Maximus Air Cargo doubles its turnover
