The Air France-KLM group reported this week its biggest loss since the merger of the two carriers in 2004 with a loss of of €1.56 billion for the full-year ended 31 March, up from a loss of €814 million a year earlier. Revenue fell 15 per cent year-on-year to €21 billion. The group's finances were starting to improve at the end of 2009 on signs of an upswing in traffic, but earnings have been pulled down since April due to the impact of ash clouds from an Icelandic volcano, … [Read more...] about AF-KLM sinks deeper into red
results
MASkargo sees 16% improvement in yield
Malaysia Airlines has ridden the economic updraft and returned to profitability in the first quarter, with increased cargo volumes and passengers, along with compensation from Airbus over delivery delays of its A380 superjumbos. The carrier announced its January-March net profit of RM310 million (US$97 million) , an improvement of more than RM1 billion from a loss a year earlier. Revenue surged 21 per cent to RM3.3 billion, including some RM329 million in compensation it received from Airbus. … [Read more...] about MASkargo sees 16% improvement in yield
Cargolux reports dire 2009 results
Cargolux reported a 2009 net loss of US$153 million, nearly triple its $61 million deficit in 2008, with revenue dropping 34 per cent to $1.3 billion as the global air cargo market contracted severely. "2009 was arguably the most difficult year in the history of airfreight," Europe's largest all-cargo airline said in a statement. "The industry registered a decline in freight volume of well over 20 per cent during the year compared to 2008," which led to overcapacity with "dire consequences for … [Read more...] about Cargolux reports dire 2009 results
Lufthansa reports 2009 net loss of US$151 million
Lufthansa has reported a net loss of US$151 million in 2009, but said it achieved its goal of an operating profit. The loss, which followed a $732 million profit in 2008, was largely the result of sharply lower cargo volumes and a decline in higher paying premium passengers. Operating profit plunged 90 per cent to a better-than-expected $175.5 million from $1.76 billion a year ago on revenue down 10 per cent at $30.1 billion. Lufthansa is currently in negotiations with the pilots' trade union … [Read more...] about Lufthansa reports 2009 net loss of US$151 million
Emirates posts 1H net profit of US$200M
Emirates posts 1H net profit of US$200M Emirates airline produced a net profit of Dhs 752 million (US$205 million), for the first six months of its current financial year ending 30 September 2009. This represents a 165 per cent improvement compared to Dhs 284 million (US$77 million) net profits for the same period in 2008. During this period Emirates SkyCargo carried 700,000 tonnes of cargo, which it said was “in line with last yearâ€Â. Emirates carried a total of 13 million … [Read more...] about Emirates posts 1H net profit of US$200M
SIA reports second straight quarterly loss
Singapore Airlines (SIA), the world's largest airline by market value, has posted its second straight quarterly loss with a second quarter net loss of S$159 million (US$114.6 million) compared with a net profit of S$324 million a year ago. This follows from a net loss of more than S$300 million in the first quarter of this financial year. SIA Cargo posted an operating loss of US$193 million with yields averaging just $0.20 per load tonne kilometer, down almost a third over the same period in the … [Read more...] about SIA reports second straight quarterly loss
