Singapore Airlines has posted its fi rst quarterly loss since 2003, with a S$307.1 million (US$212.6 million) loss that compared to a S$358.6 million profit in the fiscal first quarter of 2008-09. The global economic downturn, swine flu and unfavorable fuel hedges dragged the carrier into the red. Group revenue during the quarter ended 30 June dropped 30.5 per cent to S$2.87 billion while expenses were reduced 15.8 per cent to S$3.19 billion. A S$287 million loss on fuel hedges partially off … [Read more...] about SINGAPORE: First quarterly loss in six years for SIA
swine flu
JAPAN: JAL cargo revenue plummets 56.2% in Q1
Hit by the dual impact of both the economic downturn and the outbreak of swine flu, Japan’s largest carrier Japan Airlines (JAL), reported a net loss of 99.04 billion yen (US$1.04 billion) in the three months ended 30 June. The dismal result was much larger than the 3.41 billion yen net loss it posted in the same quarter last year. “The net loss was 10 billion yen more than expected,†Yoshimasa Kanayama, a JAL senior vice president, said announcing the results. … [Read more...] about JAPAN: JAL cargo revenue plummets 56.2% in Q1
JAL cargo revenue plummets 56.2% in Q1
Hit by the dual impact of both the economic downturn and the outbreak of swine flu, Japan's largest carrier Japan Airlines (JAL), reported a net loss of Y99.04 billion (US$1.04 billion) in the three months ended 30 June. The dismal result was much larger than the Y3.41 billion net loss it posted in the same quarter last year. "The net loss was Y10 billion more than expected," Yoshimasa Kanayama, a JAL senior vice president, said announcing the results. JAL's cargo business took a severe hit from … [Read more...] about JAL cargo revenue plummets 56.2% in Q1
Cargo drop stabilised but Swine flu new threat
A stabilisation of global inventory levels has helped stabilise air freight demand and halted the freefall according to the International Air Transport Association (IATA) as it warned that concerns over a swine flu pandemic could have a significant impact on air traffic. IATA's latest statistics show that air cargo demand has "moved sideways" in the -21 to -24 per cent range since its plunge from -7.9 to -23.2 per cent between October last year and January 2009. Freight demand in March was … [Read more...] about Cargo drop stabilised but Swine flu new threat
