Delta Air Lines lost US$1.4 billion in the fourth quarter of 2008, including a massive one-time special charge related to its merger with Northwest Airlines, along with losses from fuel hedges. But the carrier is confident next year will be better, with chief executive Richard Anderson saying he expects that Delta will to be ¡°solidly profitable in 2009 driven by lower fuel costs, capacity discipline, and merger synergies.¡± Delta expects to save US$5 billion on fuel costs this year and US$1 … [Read more...] about Delta posts Q4 loss of US$1.4 billion
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Air France anticipates Q3 loss on lower pax and cargo
Air France-KLM Group said it expects a third-quarter loss as a result of lower passenger traffic and a ¡°strong decline¡± in cargo revenue. ¡°The deterioration in the economic environment during the third quarter has led to a slight weakening in passenger unit revenues and a strong decline in cargo revenue,¡± Air France said in the statement. Air France-KLM¡¯s cargo traffic in December slumped 20.4 per cent from a year ago as its key Asia-Pacific market collapsed. Like many of its … [Read more...] about Air France anticipates Q3 loss on lower pax and cargo
4Q loss for Southwest Airlines
Southwest Airlines has reported a fourth quarter loss of US$56 million, in part due to losses resulting from its fuel-hedging strategy. This compares with a gain of US$111 million in the same period a year earlier. Southwest paid 23 per cent more for fuel than a year earlier. … [Read more...] about 4Q loss for Southwest Airlines
Losses at both American and United
US carrier parents AMR (American) and UAL (United) have reported fourth quarter losses of US$214 million and US$547 million respectively. AMR chief executive Gerard Arpey said he now was "guardedly optimistic" that his company can regain momentum this year, but said AMR "faces continued economic uncertainty, slower travel demand and fuel price volatility in 2009". Both American and United will continue to cut capacity in 2009, with American cutting capacity by more than 8.5 per cent in the first … [Read more...] about Losses at both American and United
