Noncash losses on fuel hedges and currency fluctuations dragged AirAsia to its first quarterly loss since going public in 2004, a MYR465.5 million ($128.2 million) third-quarter deficit that represented a reversal from the MYR180 million earned a year earlier. Principal charges comprised a MYR215 million loss related to the unwinding of the carrier's fuel hedges, a loss it said it will recover "in less than three months," and a MYR213 million translation loss resulting from the US dollar's rise … [Read more...] about AirAsia posts first loss since going public
Carriers
JAL opts in for Japan emissions trading trial
The JAL Group has announced it will voluntarily participate in trials of a Japan-only emissions trading scheme set up by the Japanese government. The trial scheme runs from FY2008 to FY2012, the financial years ending March 31. Companies that volunteer to participate in the scheme must set themselves CO2 emission reduction targets for their business operations in Japan for every financial year during the 5-year period. Targets are submitted by each company for approval by the Japanese … [Read more...] about JAL opts in for Japan emissions trading trial
Volga-Dnepr devices new 'hook' for heavy cargo
A special 'hook' system designed by Volga-Dnepr Airlines' technical experts to secure heavy, single pieces of air cargo for transportation has been used successfully to deliver a 89 tonne hydro turbine motor wheel from Russia to Kyrgyzstan. The shipment was transported in early December from Saint Petersburg in Russia to Bishkek, Kyrgyzstan, on board one of Volga-Dnepr's AN-124-100 freighters. The turbine was destined for the Kambartinskaya GES-2 hydro-electric power station, currently under … [Read more...] about Volga-Dnepr devices new 'hook' for heavy cargo
Americas : Boeing strike deadlock more bad news
Airlines waiting for Boeing aircraft deliveries have no immediate hope in sight as the strike at the US planemaker’s Everett assembly plant near Seattleappears no closer to a resolution. This follows the adjournment of a second round of mediated talks between Boeing and the International Association of Machinists and Aerospace Workers, which ended without agreement. About 27,000 Boeing workers in Washington, Oregon and Kansas have been on strike since September 6. “In light of … [Read more...] about Americas : Boeing strike deadlock more bad news
Americas : Delta also slides into the red
US carrier Delta – which is set to become the world’s biggest airline by traffic when the Northwest deal is completed – has reported a net loss of US$50 million for this year’s third quarter, compared to a profit of $220 million in the same period last year. The latest quarter results included special charges totalling US$24 million, comprising a US$14 million charge for early termination fees under contract carrier arrangements, US$7 million in merger-related … [Read more...] about Americas : Delta also slides into the red
Americas : Northwest blames loss on fuel hedges
Northwest Airlines reported a thirdquarter net loss of US$317 million, reversed from a US$244 million profit a year earlier, citing a US$410 million noncash charge related to fuel hedging as the reason. Third-quarter revenue rose 12.4 per cent to US$3.8 billion while expenses increased 37.5 per cent to US$4.01 billion, producing an operating loss of US$216 million, reversed from an operating profit of US$459 million in the same period a year earlier. Excluding the hedging loss resulting … [Read more...] about Americas : Northwest blames loss on fuel hedges