Thai Airways International foresees revenue falling 18 per cent this year, from Bt220 billion (US$6.2 billion) to Bt180 billion, due to the economic turmoil. Board chairman Surachai Tansitpong said the airline planned to reduce annual operating costs 5-10 per cent, with an immediate 3 per cent cut which will save about Bt6 billion alone. The company waived annual commission payments and froze salary adjustments in last year¡¯s budget. THAI is expected to post a net loss of more than Bt10 … [Read more...] about Thai Airways foresees tumbling revenue and profit
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Air France-KLM plunges into red
Air France-KLM has plunged into a third-quarter operating loss of €194 million euros, reflecting what the airline described as a deepening economic crisis. The losses were expected after Europe's largest airline group warned of a quarterly loss of 200 million euros last month, as the global economic crisis pulls the airline sector deep into the red. Overcapacity and evaporating fuel surcharges put pressure on cargo pricing in the third quarter, driving down unit revenue as freight traffic fell … [Read more...] about Air France-KLM plunges into red
Volga-Dnepr volumes up 25%
The Volga-Dnepr Group, parent of both Volga-Dnepr Airlines and AirBridgeCargo Airlines, has reported a 25 per cent rise in cargo tonnage for 2008 compared to a year earlier. The group transported 267,000 tonnes of cargo over the 12 months, while freight tonne kilometres (FTKs) rose 32 per cent to 1,720,060 thousand FTKs. … [Read more...] about Volga-Dnepr volumes up 25%
Singapore Airlines' profit nose-dives
Singapore Airlines has posted a fiscal third-quarter net profit down 43 per cent amid significant fuel-hedging losses, shrinking demand for cargo and passenger travel. Of the parent airline's four other business units - SATS Group, SIA Engineering, SilkAir and SIA Cargo - the cargo division was the only one to turn in a loss, amounting to S$46 million (US$30.4 million), compared with a profit of S$73 million for the same period a year earlier. SIA Cargo carried 14.2 per cent less freight (in … [Read more...] about Singapore Airlines' profit nose-dives
Singapore Airlines’ profit nose-dives
Singapore Airlines has posted a fiscal third-quarter net profit down 43 per cent amid significant fuel-hedging losses, shrinking demand for cargo and passenger travel. Of the parent airline's four other business units - SATS Group, SIA Engineering, SilkAir and SIA Cargo - the cargo division was the only one to turn in a loss, amounting to S$46 million (US$30.4 million), compared with a profit of S$73 million for the same period a year earlier. SIA Cargo carried 14.2 per cent less freight (in … [Read more...] about Singapore Airlines’ profit nose-dives
China Eastern: breakeven 2010, profit 2011
China Eastern Airlines is targeting a breakeven 2010 and a profitable 2011, newly appointed Chiarman Liu Shaoyong said this week, adding that the carrier is open to consolidation and a potential merger with Shanghai Airlines. The carrier hopes to offset the impact of heavy losses for 2008 by selling off its stakes in certain units and cutting orders for new planes, the Wall Street Journal reported. Liu Shaoyang, the company chairman, admitted that the chances of turning a profit this year are … [Read more...] about China Eastern: breakeven 2010, profit 2011
