Fuel costs dent Air China profit

September 1, 2017 by  
Filed under Aviation, News, North Asia

SHANGHAI, 1 September 2017: Flag carrier Air China said its first-half net profit grew only slightly as surging jet fuel costs cut into higher revenue earned from growing Chinese travel demand.

The state-owned airline earned 3.92 billion yuan (USD594 million) in the January to June period, up 3.3% from 3.79 billion yuan over the same stretch last year, it said late Wednesday in a statement to the Hong Kong stock exchange, where it is listed.

“Despite the influences of unfavourable factors including the oil price rebound, the group still achieved satisfactory results,” the Beijing-based airline said. Read more

Air New Zealand profit hits headwind

August 24, 2017 by  
Filed under Aviation, News, PACIFIC

WELLINGTON, 24 August 2017: Air New Zealand posted a 17.5% fall in annual net profit, Wednesday, as increased competition hits the carrier’s bottom line.

The airline said net profit for the 12 months to June 30 was NZD382 million (USD278 million), down from a record NZD463 million in the previous financial year.

Air New Zealand said it was still the second-highest figure ever recorded by the airline, describing it as a “strong” result. Read more

Lufthansa profits zoom

August 3, 2017 by  
Filed under Aviation, EUROPE, News

FRANKFURT, 3 August 2017: German airline group Lufthansa reported zooming profits in the second quarter Wednesday, as increased passenger demand and lower fuel costs lent tailwinds to its business.

Net profit between April and June stood at 740 million euros (USD875 million), up 69.3% from its level in 2016’s second quarter.

Operating, or underlying profit reached 1.0 billion euros, on the back of 9.3 billion euros in revenue. Read more

JAL declares quarterly profit

August 1, 2017 by  
Filed under Aviation, News, North Asia

TOKYO, 1 August 2017: Japan Airlines (JAL) on Monday reported a jump in quarterly net profit thanks to brisk sales at home and overseas, and revised its full-year forecast upward.

JAL, once a symbol of Japan’s rise from the ashes of defeat in World War II as it ferried the country’s newly rich tourists around the world, received a government bailout after a high-profile bankruptcy restructuring in 2010.

After slashing routes and cutting costs, the carrier relisted on the Tokyo bourse two years later and has continued a steady ascent. Read more

SIA pinned down by competition

May 22, 2017 by  
Filed under Aviation, News, Singapore

SINGAPORE, 22 May 2017: Singapore Airlines reported, last week, a net loss in the fourth quarter, causing full-year profit to drop by more than half as intense competition continued to buffet the carrier.

SIA has been battling strong competition from Asian low-cost carriers and Middle Eastern airlines, which now boast modern fleets and top-quality inflight services.

It said in a statement that a “wide-ranging review” of the company’s network, fleet, products, services, organisational structure, and processes is underway to better position the airline for the future. Read more

United reports solid profits

April 19, 2017 by  
Filed under AMERICAS, Aviation, News

NEW YORK, 19 April 2017: United Continental reported sharply lower first-quarter earnings Monday, but they still bested analyst expectations, and the airline vowed to remake its customer service after its rough treatment of a passenger stoked global outrage.

Net income for the period ending 31 March fell to USD96 million, a 69.3% plunge from the year-ago levels due to higher fuel and labour costs.

Revenues were up 2.7% to USD8.4 billion. Read more

China Southern profits climb

April 3, 2017 by  
Filed under Aviation, News, North Asia

SHANGHAI, 3 April 2017: Asia’s biggest carrier China Southern Airlines, reported at the weekend, a 35% leap in profit in 2016, but the slumping Chinese currency dented earnings for the rest of the country’s “big three” carriers.

Increasing demand is expected to propel China to overtake the United States within a few years as the world’s biggest market for air travel in coming years.

China Southern turned a profit of 5.04 billion yuan (USD731 million) in the year, up 35%, capitalising on a continued boom in both domestic and overseas trips by Chinese travellers as the country’s middle class swells. Read more

Lufthansa cautious despite profit

March 17, 2017 by  
Filed under Aviation, EUROPE, News

FRANKFURT, 17 March 2017: German airline group Lufthansa said, Thursday, it had met its financial targets in 2016, but offered only modest forecasts for the current year, squeezed between falling prices and higher costs.

The Frankfurt-based firm reported net profit of 1.78 billion euros (USD1.9 billion) for last year in a statement, a 4.6% increase on 2015’s figure and in line with its own and analysts’ expectations.

“In a very demanding market environment, we successfully kept the Lufthansa Group’s margins at their record prior-year levels,” chief executive Carsten Spohr commented. Read more

AirAsia X reports profit

February 24, 2017 by  
Filed under Aviation, Malaysia, News

SEPANG, 24 February 2017: AirAsia X reported its financial results for the fourth quarter and full financial year that ended 31 December 2016 confirming its first full-year profit since its IPO.

The airline posted fourth quarter revenue of RM1.17 billion, up 39% from the same quarter last year. The strong revenue recorded was on the back of a 40% year-on-year growth in passengers carried to 1.38 million which was in line with the 44% available seat per km (“ASK”) capacity growth, allowing the company to record a load factor of 81%.

Average base fare was down by 4% to RM565 mainly attributed to increased frequencies to Australia and promotional fares offered on new routes. Read more

Vietjet reports a healthy profit

February 22, 2017 by  
Filed under Aviation, News, Singapore

SINGAPORE, 22 February 2017: Vietjet reported positive growth in 2016, with a revenue of USD1.21 billion and a profit of USD105 million.

The airline achieved a load factor of 88.9%, transporting more than 14 million passengers in 2016.

In 2016, Vietjet Air operated 84,535 flights, accounting for 121,213 flight hours, reflecting further growth in the demand for air travel in Vietnam. Read more

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