Singapore Airlines warns of full-year loss if recession lingers
July 30, 2009 ·
Singapore Airlines, the world’s second largest airline by market value, sees a full year loss if tough conditions continue but said its cash position remains strong and it does not need to raise capital.
Singapore Airlines posted on Thursday its first quarterly loss in six years as the global recession hit passenger and cargo demand, and [...]
Congress takes steps to improve airline safety
July 30, 2009 ·
Congress is taking steps to toughen regulations on pilot training, qualifications and hours in response to accidents involving regional airlines, including a February crash in upstate New York that killed 50 people.
Lawmakers want to raise the minimum number of flight hours required to become an airline pilot from the current 250 to 1,500 and give [...]
Ryanair cuts profit outlook, spooks investors
July 27, 2009 ·
Irish budget airline Ryanair cut full year profit forecasts to the lower end of its range on Monday due to falling yields, sending its shares down 10 percent and impacting the broader airlines sector.
Investors shrugged off the carrier’s better-than-expected first quarter profit, which was largely boosted by lower fuel costs, and focused instead on its [...]
JetBlue posts 2Q profit
July 23, 2009 ·
JetBlue Airways Corp. said Thursday it posted a second-quarter profit as cost cuts and lower fuel prices balanced out declining passenger demand.
The low-cost carrier also said it expects to post a profit in the next two quarters.
JetBlue said Thursday it earned $20 million, or 7 cents per share, compared with a loss of $9 [...]
Alaska Air Group 2Q profit slips 53.9 pct
July 23, 2009 ·
Alaska Air Group Inc., operator of Alaska Airlines and Horizon Air, said Thursday its second-quarter profit plunged 53.9 percent to $29.1 million as sales slipped 9.3 percent.
The Seattle-based company’s profit for the April-June quarter was equivalent to 79 cents a share, compared to a year-ago profit of $63.1 million, or $1.74 a share.
Excluding one-time items, [...]
Lufthansa to cut 400 jobs, reconsider new plane orders
July 16, 2009 ·
Airline Deutsche Lufthansa AG expects to cut 400 administrative jobs at its passenger division and will reconsider its schedule of new aircraft deliveries in a bid save 1 billion euros by 2011.
In a letter sent to workers, Christoph Franz, the deputy chief executive, told employees that Lufthansa’s losses had continued from the first quarter into [...]
IATA: Premium air travel down 23.6 percent in May
July 16, 2009 ·
Global airline passenger travel dropped faster in May than in the previous months, a trade group reported on Thursday, suggesting that things are not getting better for air carriers.
The number of passengers flying on premium tickets fell 23.6 percent in May compared with May 2008, according to the International Air Transport Association. That follows a [...]
