UPS saw its net profit fall 49 per cent in the second quarter, to US$445 million with company saying it expects the weak global economy to remain just as weak in the coming months. “The business environment in the third quarter should be similar to the second quarter,†UPS CFO Kurt Kuehn said. Overall revenue at UPS fell 16.7 per cent in the three months ending 30 June from the same period a year ago as volume across its domestic and international operations fell 4.7 per cent. But on … [Read more...] about UPS sees net profit halved in Q2 from last year
results
Turkish sees fourfold rise in 2008 profit
Turkish Airlines has reported a net profit of US$874 million in 2008, nearly a fourfold increase over the $224 million reported in 2007, on the back of rising traffic. The carrier also said it is in talks with both Airbus and Boeing regarding the purchase of 25 long-haul aircraft plus 10 options and 50 narrow body aircraft plus 20 options. Last month it placed an order for five 777-300ERs for delivery from October 2010 to February 2011. Turkish Airline's revenue for the year climbed 26 per cent … [Read more...] about Turkish sees fourfold rise in 2008 profit
Ethiopian defies crisis with growing cargo and pax
Ethiopian Airlines reported a ETB515 million (US$45.8 million) profit in its fiscal first half ended 31 December, up 9 per cent year-on-year, on a 54.8 per cent jump in operating revenue of ETB6.7 billion. Freight volume doubled to 49,895 tonnes during the first half, year-on-year while passenger numbers grew 19 per cent to 1.5 million. The carrier also purchased two MD-11 freighters and eight Q400s during the period and signed a lease for one B757. … [Read more...] about Ethiopian defies crisis with growing cargo and pax
TNT reports 60% fall in 4Q profits
Dutch mail and express company TNT reported a 60 per cent fall in profit for the fourth quarter this week citing restructuring charges and worsening business conditions, especially in its express delivery arm. Net profit at Amsterdam-based TNT was €207 million, down from €250 million in the same period a year earlier. Sales fell 2.4 per cent to €2.93 billion. The company took €146 million in charges during the quarter to restructure both its mail and express divisions, … [Read more...] about TNT reports 60% fall in 4Q profits
Alaska Air cargo defies downturn
Alaska Airlines posted fourth-quarter profits aided by the success of their cargo fleet and an increase in mail. For the first time ever, Alaska Airlines cargo surpassed US$100 million in revenue from airfreight and mail as the group posted a fourth-quarter net profit for 2008 of US$16.4 million, compared to a net loss of US$17.9 million in the fourth quarter of 2007. … [Read more...] about Alaska Air cargo defies downturn
Philippine Air sinks further into red
Philippine Airlines, a subsidiary of PAL Holdings Inc, incurred a net loss of US$113.8 million for the fiscal first half ended Sept 30 and widened that loss in the third quarter ending 31 December with a massive US$215.9 million loss. The third quarter loss was partially attributed to a US$42.4 million loss from fuel hedging contracts, the carrier said. … [Read more...] about Philippine Air sinks further into red
