THAI’s Q3 operating profit improves

November 16, 2017 by  
Filed under Aviation, News, Thailand

BANGKOK, 16 November 2017: Thai Airways International and its subsidiaries closed the third quarter 2017 with an operating profit of THB 739 million, an improvement from last year’s Q3 that accumulated a loss of THB 836 million.

The latest financial results for Quarter 3 suggest the airline’s transformation plan is progressing, although like other legacy carriers it is facing tough competition from low-cost airlines that are expanding regional flights from bases in Thailand.

In its statement to the Stock Exchange of Thailand the national airline reported revenue increased by 6.3% and non-fuel expenses “were efficiently controlled.” Read more

Emirates profits recover

November 10, 2017 by  
Filed under Aviation, Middle east, News

DUBAI, 10 November 2017: Leading Middle East airline Emirates said Thursday its half year net profit rebounded strongly from a slump last year due to cost saving measures and favourable exchange rates.

The Dubai flag carrier said it posted a net profit of USD452 million in the period from April to September, up 111% on the same period last year.

That was more than the USD340 million net income for the whole of the last fiscal year to March 31. Read more

SIA reports jump in profits

November 9, 2017 by  
Filed under Aviation, News, Singapore

SINGAPORE, 9 November 2017: Singapore Airlines said, Tuesday, second-quarter net profit almost tripled due to passenger growth and improvements in its cargo business, but warned of challenges ahead.

The flag carrier said it earned SGD190 million (USD139 million) in the three months to the end of September compared to SGD65 million in the same period last year.

The airline, seen as a benchmark for Asian premium carriers, has been battling strong competition from Asian low-cost carriers and Middle Eastern airlines, which now boast modern fleets and top-quality inflight services. Read more

ANA profits fly high

November 2, 2017 by  
Filed under Aviation, News, North Asia

TOKYO, 2 November 2017: Japan’s top airline by passenger numbers, All Nippon Airlines, upgraded its full-year forecasts on Wednesday as profits soared to new records due to solid demand.

Parent company ANA Holdings said net profits for the first-half period from April to September had more than doubled from a year earlier to a record 118.4 billion yen (USD1.0 billion).

However, this rise was mainly due to income gained from integrating budget carrier Peach Aviation onto its books as well as a strong performance in international passenger and cargo services. Read more

China’s big three profits rise

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

SHANGHAI, 1 November 2017: China’s three biggest airlines have reported a rise in third-quarter net profit on strong domestic travel demand.

China Southern, Asia’s biggest carrier, saw its net profit for July-September surge 29.40% year-on-year to 4.28 billion yuan (USD643.7 million), according to a stock exchange statement Monday.

Flag carrier Air China said its third-quarter net profit surged 31.39% year-on-year to 4.95 billion yuan, according to a statement late last week to the Hong Kong exchange, where it is listed. Read more

High fuel costs clip airline profits

August 31, 2017 by  
Filed under Aviation, News, North Asia

SHANGHAI, 31 August 2017: Asia’s biggest carrier China Southern Airlines said higher jet fuel costs clipped its profit in the first half, while China Eastern earnings rose but only with the help of a one-off asset sale.

Net profit at state-owned China Southern dropped 11.1% year-on-year to 2.77 billion yuan (USD420 million) in January-June, the carrier said late Tuesday in a statement to the Hong Kong stock exchange, where it is listed.

Its bottom line was hit by a more than 30% rise in operating expenses due to higher jet fuel costs, which offset revenue gains, the Guangzhou-based airline said. Read more

Qantas flags ultra long-haul flights

August 28, 2017 by  
Filed under Aviation, News, PACIFIC

SYDNEY, 28 August 2017: Australia’s Qantas unveiled plans for the world’s longest non-stop commercial flight, last Friday, calling it the “last frontier of global aviation”, as it posted healthy annual net profits on the back of a strong domestic market.

The firm, which hopes to fly non-stop from Australia to London and New York by 2022, announced a 17.2% slip in annual net profit to AUD852 million (USD673 million) after record results last year.

The airline’s underlying profit before tax — its preferred measure — was the second-highest in its history at AUD1.4 billion for the year to June 30, matching forecasts. Read more

ANA profits rise

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

TOKYO, 3 August 2017: The parent company of Japanese carrier All Nippon Airways (ANA) said, Wednesday, its quarterly net profit skyrocketed after it raised its stake in a budget carrier, confirming it is on course for a new record full-year profit.

ANA Holdings has soared in recent years, booking an all-time high net profit for the last fiscal year on gains in its international business.

It said Wednesday that net profit came to 51.1 billion yen (USD462 million) for April to June, up from 6.6 billion yen from a year earlier. Read more

Qatar Airways profits climb

June 12, 2017 by  
Filed under Aviation, Middle east, News

DOHA, 12 July 2017: Qatar Airways said Sunday its net profits rose by almost 22% in the last financial year that ended in March, before the diplomatic fallout with its Gulf neighbours.

The results cover the period from 1 April, 2016 to 31 March, 2017, well before Saudi Arabia and several of its allies cut ties with Qatar and severed air links with Doha nearly a week ago.

“Our annual results once again reflect the success of our expansion and growth strategy,” Qatar Airways chief executive Akbar Al-Baker said in a statement. Read more

TUI bets on summer boost

May 15, 2017 by  
Filed under EUROPE, News, tour operators

FRANKFURT, 16 May 2017: German travel group TUI on Monday confirmed its sunny forecast for the full year, betting on strong summer business to outweigh a net loss in the “challenging” first half.

TUI is in the midst of a transformation into a package holiday provider, focussing on its own hotels and cruises after taking over British subsidiary TUI Travel in 2014.

TUI, which runs its business year from October to September, booked a net loss of 363 million euros (USD397 million) for the six months to March. Read more

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