US airline groups seek US$4 billion in aid A broad coalition of US airline and aerospace industry trade groups is reportedly seeking a US$4 billion slice of the economic stimulus package being mulled over by the incoming Obama administration, Dow Jones reported. The funds would be used to kick-start modernisation of the country's antiquated air traffic control system through equipping aircraft with satellite-based navigation technology. The plan is outlined in a letter to government officials … [Read more...] about US airline groups seek US$4 billion in aid
Carriers
Lufthansa confirms disinterest in Alitalia
Lufthansa confirms disinterest in Alitalia Lufthansa has confirmed that it did not make an offer for Alitalia, which Italian Prime Minister Silvio Berlusconi revealed Wednesday. A Lufthansa spokesperson told both Germany's dpa news agency and Reuters that the airline preferred to cooperate with its Star Alliance partners in the Italian market. In November it announced the launch of an Italian subsidiary based at Milan Malpensa. … [Read more...] about Lufthansa confirms disinterest in Alitalia
Vietnam Air sees 39% drop in profit
Vietnam Air sees 39% drop in profit Vietnam Airlines has reported a pre-tax profit for 2008, of US$14 million, down 39 per cent from the US$23 million earned a year earlier, according to AFP. GD Pham Ngoc Minh said the carrier "has never faced so many continuous challenges and disadvantages," even though full-year revenue climbed 22.8 per cent to US$1.56 billion. … [Read more...] about Vietnam Air sees 39% drop in profit
China to take delivery of 241 aircraft in '09
China to take delivery of 241 aircraft in '09 China is set take delivery of 241 new planes this year, 16 of which are delayed orders from 2008, Dow Jones reported. According to the Civil Aviation Administration of China (CAAC) the new aircraft would increase passenger seat capacity by 16 per cent despite the leases on 43 planes expiring this year. … [Read more...] about China to take delivery of 241 aircraft in '09
BA soon to undertake 'far-reaching' restructuring
British Airways will soon announce far-reaching restructuring measures designed to reduce costs and increase efficiency, the carrier said in its in-house weekly newspaper, BA News. "Only through delivering fundamental change can we achieve the small profit we are targeting this year and emerge from the crisis as a strong global player," CFO Keith Williams said, warning that the shakeup will be "far-reaching, reshaping our company from top to bottom." He said BA's biggest challenge will be, … [Read more...] about BA soon to undertake 'far-reaching' restructuring
Cathay loses US$980 million on hedging gamble
Cathay Pacific Airways has joined many of its counterparts in reporting huge fuel-hedging losses, plunging the previously profitable Asian carrier into an expected record loss for last year, the South China Morning Post reported. The loss on Cathay's fuel-hedging contracts as of the end of last month amounted to around US$980.1 million, deepening from the $361.1 million loss estimated to have been incurred at the end of October, according to the third profit warning filed by the airline in … [Read more...] about Cathay loses US$980 million on hedging gamble
