TUI’s ‘headline’ profit falls

December 15, 2017 by  
Filed under EUROPE, News, tour company

FRANKFURT, 15 December 2017: European tourism giant TUI on Wednesday reported a sharp fall in headline profits in its 2016-17 financial year, but said its underlying performance remained solid, thanks to its hotels and cruise line businesses.

TUI — based in the north German city of Hanover and listed on the London stock exchange — booked net profit of 645 million euros (USD758 million) between October last year and September this year.

That was a fall of 38% from the previous year. Read more

IATA offers rosy 2018 forecast

December 7, 2017 by  
Filed under Aviation, EUROPE, News

GENEVA, 7 December 2017: Led by US airlines, net profits in the aviation industry are set to rise by some 11% in 2018, the International Air Transport Association (IATA) said on Tuesday as it presented economic forecasts for the industry.

According to the forecast by the industry’s global trade association, combined net profits will hit USD38.4 billion, from a revised USD34.5 billion in 2017, with US carriers weighing in with almost half.

“Strong demand, efficiency and reduced interest payments will help airlines improve net profitability in 2018 despite rising (operating) costs,” said IATA, whose 280 members account for more than three quarters of global air traffic. Read more

Easyjet’s annual profits slump

November 23, 2017 by  
Filed under Aviation, EUROPE, News

LONDON, 23 November 2017: EasyJet’s annual net profit slumped by almost one third on strong competition and a Brexit-fuelled slump in the pound, the British no-frills airline revealed on Tuesday.

Profit after tax slumped 30% to UKP305 million (USD404 million, 344 million euros) in the 12 months to 30 September, compared with a year earlier, EasyJet said in an earnings statement.

Heavy falls in the value of the pound made dollar-priced jet fuel more expensive. At the same time however, a relatively low oil-price environment resulted in airlines cutting ticket prices, ramping up competition across the industry. Read more

Air France-KLM robust profits rally

November 6, 2017 by  
Filed under Aviation, EUROPE, News

PARIS, 6 November 2017: The French-Dutch airline Air France-KLM said at the weekend that robust business environment and “solid” traffic gave earnings a lift in the third quarter.

Air France-KLM said in a statement that its net profit edged 1.5% higher to 552 million euros (USD643 million) in the period from July to September.

Underlying or operating profit jumped by 38.7% to 1.022 billion euros on a 4.3% increase in sales to 7.234 billion euros. Read more

Vietjet to add Thai services

November 3, 2017 by  
Filed under Aviation, News, Thailand, Vietnam

BANGKOK, 3 November 2017: VietJet Air has confirmed it will launch nonstop services to Chiang Mai and Phuket from its Ho Chi Minh City home base this December.

According to timetable details, released by Airlineroute for the winter timetable 2017/18, the nonstop service to Phuket will start 15 December with four weekly services on Monday, Wednesday, Friday and Sunday.

The Ho Chi Minh City-Chiang Mai route will be served by four weekly flights starting 12 December. Read more

JAL makes profit upgrade

November 1, 2017 by  
Filed under Aviation, East Asia, News

TOKYO, 1 November 2017: Japan Airlines  on Tuesday upgraded its full-year forecast as it booked a modest gain in half-year net profit thanks to solid domestic and international sales.

JAL said net profit rose 9.2% year-on-year to 78.0 billion yen (USD690 million) for the six months to September.

Revenue for the period increased 6.2% to 692.3 billion yen, as the airline said it enjoyed robust inbound demand from overseas and buoyant outbound demand. Read more

BA bullish on profit forecast

October 30, 2017 by  
Filed under Aviation, EUROPE, News

LONDON, 30 October 2017: British Airways parent group IAG forecast a 20% jump in operating profit this year thanks to rising demand and falling costs.

Parent IAG said last week that its underlying operating profit — stripping out exceptional items and fluctuations in fuel prices and exchange rates — was expected to hit 3.0 billion euros (USD3.5 billion) in 2017.

That was up from 2.5 billion euros in 2016. Read more

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

Next Page »