Southwest Airlines has reported a fourth quarter loss of US$56 million, in part due to losses resulting from its fuel-hedging strategy. This compares with a gain of US$111 million in the same period a year earlier. Southwest paid 23 per cent more for fuel than a year earlier. … [Read more...] about 4Q loss for Southwest Airlines
Carriers
Singapore inks OSAs with Czech Rep & Iceland
Singapore has concluded an Open Skies Agreement (OSA) with Iceland giving airlines from Singapore and Iceland full flexibility to operate air services between and beyond both countries, as well as via intermediate points, without restrictions on capacity, frequency and aircraft type. The Singapore-Iceland OSA is also more liberal than conventional OSAs, as it allows for unlimited ¡°hubbing rights¡±, also known as ¡°7th freedom traffic rights¡±, for both passenger and cargo services. … [Read more...] about Singapore inks OSAs with Czech Rep & Iceland
Air France out of Guangzhou
Air France-KLM has, at least temporarily, suspended its cargo service to Guangzhou, China, after cargo volumes dropped below what the carriers said were sustainable levels. … [Read more...] about Air France out of Guangzhou
Czech government to sell its stake in Czech Air
The Czech government has approved the sale of its 91.5 per cent share of national carrier Czech Airlines, expected to fetch up to US$241.8 million. … [Read more...] about Czech government to sell its stake in Czech Air
SA crew held after drugs found
SA crew held after drugs found The 15 crew of a South African Airways flight have been released on unconditional bail with no charges laid after drugs with a street value of £310,000 were found in three suitcases at the flight crew checkpoint at London Heathrow. The ten women and five men including the captain, first officer and air stewards - were held when customs officers found about 4kgs of cocaine and 50lbs of cannabis in the suitcases. Customs officials said it was not clear who the … [Read more...] about SA crew held after drugs found
Losses at both American and United
US carrier parents AMR (American) and UAL (United) have reported fourth quarter losses of US$214 million and US$547 million respectively. AMR chief executive Gerard Arpey said he now was "guardedly optimistic" that his company can regain momentum this year, but said AMR "faces continued economic uncertainty, slower travel demand and fuel price volatility in 2009". Both American and United will continue to cut capacity in 2009, with American cutting capacity by more than 8.5 per cent in the first … [Read more...] about Losses at both American and United