- ACE's Profits Soar as It Plans IPOs[Aug. 14, 2006]
Buoyed by a 39.6% increase in second-quarter net profit to C$236 million ($210.4 million), Air Canada parent ACE Aviation Holdings announced Friday its intention to launch an IPO of a minority stake in the mainline and to "monetize" Air Canada Technical Services later this year.
- Bankruptcy Push Delta into $2.2b Loss[Aug. 10, 2006]
Hit hard by costs associated with its Chapter 11 reorganization, Delta Air Lines yesterday reported a second-quarter net loss of $2.2 billion, widened from a deficit of $382 million in the year-ago period.The airline said it earned $175 million in net income for the quarter excluding restructuring items, reversing a net loss of $304 million excluding special items in the year-ago quarter. "Delta's second quarter results continue to reflect both the solid progress we are making in our restructuring and the substantial challenges we are facing from high fuel prices," CFO Edward Bastian said. "We are aggressively restructuring our business."
- Hawaiian Reports Widened 2Q Loss[Aug. 09, 2006]
Hawaiian Airlines parent Hawaiian Holdings reported a second-quarter net loss of $26.4 million, widened from a net loss of $1.67 million in the year-ago quarter.President and CEO Mark Dunkerley said the carrier's earnings were affected negatively by rising fuel costs and an "increase in competitor capacity" on both inter-island flights and transpacific routes. He acknowledged that Hawaiian's "progress in this quarter has lagged that of several of our competitors." The airline faced new competition during the quarter when Mesa Air Group launched its go! subsidiary on June 9.
- Cathay Pacific Announces 2006 Results[Aug. 09, 2006]
Cathay Pacific Airways today announced a profit attributable to shareholders of HK$1,668 million in its 2006 Interim Results, compared with a profit of HK$1,670 million the previous year, as high fuel prices continued to undermine increased productivity and revenue.
- JAL Narrows Losses, Forecasts Profit[Aug. 08, 2006]
Japan Airlines Group appears to have made significant progress in its restructuring with a fiscal first-quarter loss of 26.7 billion yen ($233.2 million) set against sharply increased fuel costs, an improvement over the year-ago period's 38.3 billion yen loss.Over the past 12 years JAL typically has posted a loss in the quarter ended June 30. All numbers in the recently completed quarter were positive. Operating revenues were up 3.7% to 522.2 billion yen and international traffic revenue rose 5.2%, reflecting a focus on high-profit and high-growth-rate routes. Cost-structure reforms limited the negative impact of an 11.6% increase in fuel costs and an unfavorable US dollar-yen exchange rate. Operating expenses rose only 3.5% to 554.1 billion yen.
- EasyJet to Forecast Profit Growth[Aug. 08, 2006]
EasyJet yesterday released abbreviated operating results for its third fiscal quarter ended June 30 and said it expects full-year unit revenue and unit costs to be "slightly higher" than originally forecast as capacity now is expected to rise approximately 13% over the previous fiscal year.Pre-tax profit still is expected to grow 40%-50% over the 59 million pounds ($112.5 million) earned for the year ended Sept. 30, 2005 (ATWOnline, July 10).
- NWA Reports $285 Million Quarterly Loss[Aug. 08, 2006]
Northwest Airlines reported a second-quarter net loss of $285 million, widened from $234 million in the year-ago period, but insisted it is making "steady progress" as it works toward emerging from bankruptcy protection.Excluding reorganization-related items, the carrier said it earned $179 million in the period, improved from a net loss of $288 million excluding unusual items last year.
- TAM Reverses Last Year's Loss: Up 38.9%[Aug. 07, 2006]
TAM reported second-quarter net income of BRL97.1 million ($44.4 million), a strong improvement over a net loss of BRL24.7 million in the year-ago quarter, on a 38.9% increase in revenues to BRL1.73 billion.
- JAL Posts Recovery Due to China[Aug. 07, 2006]
Japan Airlines (JAL) has posted recovery due to bookings from China. Last year, the airlines declared a sharp drop in demand due to Chinese protests regarding a Japanese textbook's remarks on its wartime occupation of China.
- Fuller Planes Boosts BA Profits[Aug. 04, 2006]
British Airways has reported a 20 percent rise in first-quarter profit helped by fuller planes. But its shares have fallen as it warned of a tougher second half and higher-than-expected labour costs.