Atlas Air Worldwide Holdings Inc (AAWW) has announced that for the three months ended 31 March, it achieved a record first quarter net profit of US$23.4 million on revenues of $244.5 million. The results for the quarter contrasted with a net loss of $5.3 million on revenues of $373 million for the same period a year earlier. The group said that reported firstquarter 2009 revenues reflect the deconsolidation of Polar Air Cargo Worldwide from AAWW for reporting purposes that occurred in … [Read more...] about AMERICAS: Atlas Air group posts record Q1 profit

Virgin Group Chairman Richard Branson has said that the US Dept. of Transportation’s granting American Airlines (AA), British Airways (BA) and other oneworld carriers antitrust immunity on transatlantic services “would create a monster monopoly on key routes between London Heathrow and the US.” In a speech in Washington, he said BA/AA would control “nearly half of all takeoff and landing slots at London Heathrow” and that antitrust immunity would prove … [Read more...] about AMERICAS: Virgin points to oneworld “monster monopoly”

US airlines saw air cargo traffic – as measured by revenue ton miles – decline 21 per cent year-on-year in March 2009, according to the latest statistics available from the Air Transport Association of America (ATA). The decline matches that measured in January and February and marks the eighth consecutive month of declining cargo traffic. Notably, cargo traffic in the Pacific region fell 28 per cent. Passenger numbers and revenue for April both fell – … [Read more...] about AMERICAS: US cargo traffic decline steady

The 25 per cent rise in oil prices over the past month has sent shivers through the airline industry as it struggles to cope with the ongoing depressed cargo and passenger traffic. The CEOs of both AMR, parent of American Airlines and Southwest Airlines said market fundamentals – including a glut of crude oil on the world market – don’t support prices as high as US$62 a barrel, a six-month high. But both American’s Gerard Arpey and … [Read more...] about AMERICAS: Airlines concerned over oil price rise

IATA director-general Giovanni Bisignani has called on governments to deliver a “global and sectoral” approach to reducing aviation emissions in the so-called Kyoto 2 packagescheduled for discussion this December. “Air transport is a global industry with a good track record and ambitious targets for environmental performance. But to achieve them, we need governments to take a global approach,” Bisignani said. Bisignani called on governments to define a sectoral … [Read more...] about EUROPE & CIS: IATA reiterates carbon neutral growth goal