Korean Air reported a full-year 2008 net loss of KRW1.96 trillion (US$1.4 billion), reversed from a net profit of KRW11.1 billion in 2007, citing the weak won as the biggest contributor to the heavy decline. It also said yesterday that it is boosting its A380 order from eight aircraft to 10 and will initiate "more aggressive investment" this year with the aim of achieving a "black ink balance" in 2009 while building "a foundation for future growth." It said it will focus on "increasing overseas … [Read more...] about Korean Air reports net loss
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Lufthansa projects rise in ’08 profit
Lufthansa yesterday raised its full-year operating profit projection to €1.3 billion from the previous €1.1 billion. The carrier reported a €1.38 billion operating profit in 2007. Lufthansa said the increase in its forecast is "substantially attributable to a more stable result development in the fourth quarter than was previously expected." It cited falling fuel prices and "favorable valuation effects" without elaborating. … [Read more...] about Lufthansa projects rise in ’08 profit
UPS reports full-year ’08 profit
UPS reported full-year 2008 net income of US$3 billion, widened significantly from a US$447 million profit in 2007 when its results were skewed by a one-time US$6.1 billion pension payment. But it said it must make "tough decisions" to cope with a "severe decline in economic activity around the world." This was more clearly indicated by its 2008 income which was down 28.6 per cent compared to US$4.2 billion in 2006. … [Read more...] about UPS reports full-year ’08 profit
All Nippon sees cargo revenue rise
All Nippon Airways, Japan's second-largest airline, says its business will dip into the red for the first time in six years and it expects a group net loss of JPY9 billion for the year to March 31 instead of a previously projected profit of JPY17 billion. It had a JPY64.1 billion profit the previous year. But the group's revenue from its international cargo operations increased 9.8 per cent during the April-December period from a year earlier to JPY 59.2 billion (US$660.7 million). … [Read more...] about All Nippon sees cargo revenue rise
Lufthansa projects rise in '08 profit
Lufthansa yesterday raised its full-year operating profit projection to €1.3 billion from the previous €1.1 billion. The carrier reported a €1.38 billion operating profit in 2007. Lufthansa said the increase in its forecast is "substantially attributable to a more stable result development in the fourth quarter than was previously expected." It cited falling fuel prices and "favorable valuation effects" without elaborating. … [Read more...] about Lufthansa projects rise in '08 profit
UPS reports full-year '08 profit
UPS reported full-year 2008 net income of US$3 billion, widened significantly from a US$447 million profit in 2007 when its results were skewed by a one-time US$6.1 billion pension payment. But it said it must make "tough decisions" to cope with a "severe decline in economic activity around the world." This was more clearly indicated by its 2008 income which was down 28.6 per cent compared to US$4.2 billion in 2006. … [Read more...] about UPS reports full-year '08 profit
