Cathay Pacific Airways has joined many of its counterparts in reporting huge fuel-hedging losses, plunging the previously profitable Asian carrier into an expected record loss for last year, the South China Morning Post reported. The loss on Cathay's fuel-hedging contracts as of the end of last month amounted to around US$980.1 million, deepening from the $361.1 million loss estimated to have been incurred at the end of October, according to the third profit warning filed by the airline in … [Read more...] about Cathay loses US$980 million on hedging gamble
United Airlines
Americas : United posts huge 3Q loss on fuel and slowdown
Stung by nearly US$1 billion in higher jet fuel costs, United Airlines’ parent UAL has reported a third-quarter net loss of US$779 million. The airline said the loss was due to high fuel prices during the quarter and accounting charges related to markdowns in the value of some fuel hedging contracts after oil prices fell sharply by the end of the period. Those non-cash charges were US$519 million. Its net loss compared with a profit of US$334 million, in the third quarter last year. … [Read more...] about Americas : United posts huge 3Q loss on fuel and slowdown
United Airlines
UAL Corporation, the holding company whose primary subsidiary is United Airlines, announced that Donald Dillman has been named vice president of Operations Control. In this position, Dillman will oversee United’s Operations Control Center and have responsibility for decisions affecting more than 1,600 daily mainline flights. He will have operational management responsibilities for flight dispatch, system controllers, aircraft routers, maintenance workload planners, air traffic control … [Read more...] about United Airlines
United Airlines
United Airlines doubled its fee tocheck a second bag on North American flights to US$50, blaming the increaseon “volatile” fuel prices. The new chargeapplies to customers who purchasetickets for travel up until 10 November.It said the new fee schedule will generatean estimated $700 million in revenuein 2009. … [Read more...] about United Airlines
United Airlines
UAL Corporation, the holding company whose primary subsidiary is United Airlines, announced that Kathryn Mikells will be named senior vice president and chief financial officer, succeeding Jake Brace, executive vice president and chief financial officer, who is retiring 1 November. In her new position, Mikells, who has held several leadership roles in the finance organisation, will be responsible for treasury, tax, the controller function, budgets, financial planning and analysis, accounting, … [Read more...] about United Airlines
