A passenger waiting to board his flight at Hartsfield-Jackson Atlanta Airport captured a video of a bolt of lightening hitting a Delta Airlines aircraft as it waited during a ‘ground hold’ at the airport as a result of a torrential downpour on 18 August. Unaffected by the lightening strike the aircraft later took off and reached its destination of Las Vegas without incident. A Delta spokesman said in a statement that: "Fuselage structure and industrial-grade insulation acts as a … [Read more...] about Passenger captures lightening strike on Delta aircraft
Air Shipping Asia
Oil production surplus highest in 17 years: IEA
A global glut of oil is forecast to last through 2016 despite the strongest demand growth in five years and faltering supply, both of which have failed to clear the surplus, according to the International Energy Agency (IEA) in its latest monthly report. This has seen jet fuel prices slide more than 47 per cent compared with a year ago, according to the latest statistics from the International Air Transport Association (IATA). The global oversupply will average 1.4 million barrels a day in … [Read more...] about Oil production surplus highest in 17 years: IEA
Record low oil prices fuel hedging strategies
Airlines around the world are moving quickly to increase their jet fuel hedging as they eye five month lows in crude prices that many expect to taper off at around US$50 a barrel. "Some airlines are popping in and hedging bits and pieces daily at a Brent price of $55 and down to $50," said a trader with a bank that handles hedging for many Asian airlines according to Reuters. Indonesia's PT Garuda Indonesia has hedged 45 per cent of its 2015 jet fuel needs and is now looking to raise that … [Read more...] about Record low oil prices fuel hedging strategies
Cebu Pacific sees 1H net profit jump 64%
The Philippines’ Cebu Pacific and its wholly owned subsidiary Cebgo (formerly Tiger Air Philippines), posted a 64 per cent rise in net income of P5.2 billion (US$111.6 million) for the first half of 2015, over the P3.18 billion earned in the same period last year. In the same period, the CEB Group generated revenues of PHP 29.5 billion, an increase of 10.4 per cent year-on-year. Cargo revenues for the first half of 2015 grew by 11.4 per cent to PHP 1.6 billion, from PHP 1.44 billion last … [Read more...] about Cebu Pacific sees 1H net profit jump 64%
Qantas posts best profit since before the GFC
Qantas today announced its strongest profit since before the Global Financial Crisis and an order for eight B787-9 aircraft, to be delivered from calendar year 2017 to gradually replace five older B747s to start a "new era" for Qantas International. For the 12 months to 30 June 2015, Qantas reported an Underlying Profit Before Tax of $975 million and a Statutory Profit Before Tax of $789 million. The underlying result is a turnaround of $1.6 billion compared with financial year 2014, … [Read more...] about Qantas posts best profit since before the GFC
Bad weather hampers Indonesia crash recovery
Bad weather on Wednesday hampered efforts to recover the bodies of 54 passengers and crew killed when a plane operated by Indonesian carrier Trigana Air crashed in remote eastern Indonesia. The ATR 42-300 twin-turboprop went down on Sunday during a short flight in bad weather in Papua province, killing everyone on board. Rescuers finally reached the crash site, near the settlement of Oksibil that had been the plane's destination, two days later after initial efforts were hindered by the … [Read more...] about Bad weather hampers Indonesia crash recovery
