- Lufthansa Cuts Winter Timetable as Fuel Costs Soar[Jul. 28, 2011]
Lufthansa joined other airlines in reporting results battered by high fuel costs, and said capacity would not grow as quickly as previously planned over the winter.
- China's Southernmost Resort City Sees Surging Tourism in First Half Year[Jul. 28, 2011]
China's southernmost costal resort of Sanya in Hainan Province has seen over 5.12 million tourist arrivals in the first half year, according to statistics released by the the city's tourism committee on Thursday.
- Airlines Globally Post Weak Earnings[Jul. 29, 2011]
Lackluster earnings results reported by airlines worldwide demonstrate how difficult the operating environment for the industry was in the first half of 2011. In Europe, Lufthansa Group posted a net loss of EUR206 million (US$297.9 million) for the first six months of 2011, widened from a net deficit of EUR104 million in the prior-year period, while Air France-KLM reported a net loss of EUR197 million for its fiscal first quarter ended June 30, reversed from a EUR736 million profit in the prior-year period.
- Fuel Slashes Singapore Air's Q1 Net; Significant Challenges Ahead[Jul. 28, 2011]
Singapore Airlines said on Thursday it faced significant challenges as soaring jet fuel prices slashed first quarter profit by a worse than expected 82 percent from a year ago and economic uncertainties plagued key markets.
- Passenger Traffic Hits a Speed Bump in June: IATA[Jul. 28, 2011]
The International Air Transport Association (IATA) announced traffic results for June which showed a slight softening in demand for both air travel and freight markets. Compared to June 2010, passenger demand was up 4.4% while freight demand was 3% lower.
- Air China Buys 31% Holding in Tibet Airlines[Jul. 29, 2011]
Air China invested 86.8 million yuan (US$13.5 million) to take a 31% stake in Lhasa-based startup Tibet Airlines, which officially launched operations this week. The move is part of Beijing-based CA's continued expansion into West China.
- Delta's Second-Quarter Profit Dips 58% as Fuel Costs Rise 36%[Jul. 28, 2011]
Delta Air Lines reported second-quarter net income of US$198 million, down 58% from a US$467 million net profit in the year-ago period. CEO Richard Anderson said Wednesday that "high fuel prices are putting significant pressure on the industry" and touted DL's "solid profit ... despite more than US$1 billion in higher fuel expense." DL stated that it is "recalibrating its business to succeed in a permanent, high fuel price environment."
- Lufthansa Confirms US$2.8 Billion Airbus Jet Order[Jul. 27, 2011]
Germany's Lufthansa has confirmed an order for 30 A320neo-family aircraft worth US$2.8 billion at list prices, manufacturer Airbus said on Wednesday.
- China Aviation Oil Signs up to US$3 Billon Financing Agreement[Jul. 27, 2011]
China Aviation Oil Singapore , Asia's top jet fuel buyer, said on Wednesday it has signed a financing agreement worth up to US$3 billion with China Development Bank.
- BAA Reports Smaller Losses as Airport Traffic Grows[Jul. 27, 2011]
BAA has reported smaller losses for the first half of the year after more passengers used its airports.