Tag: airline industry

IATA continues to lift forecast for airline industry

IATA continues to lift forecast for airline industry

The International Air Transport Association (IATA) has again revised its forecasts for the airline industry. According to the industry body, global airlines will make a profit of $15.1 billion (£9.5 billion) this year. The figure is 70% higher than its previous forecast made in September and significantly better than its anticipated loss of $2.8 billion [...]

IATA reports rise in demand for premium tickets

IATA reports rise in demand for premium tickets

It appears the airline industry is recovering after a devastating time during the recession, which saw a slump in air travel. According to the airline industry body, International Air Transport Association (IATA), the number of passengers purchasing premium airline tickets grew again in June with demand for premium tickets up 16.6% on year. This compares [...]

IATA forecasts profits for airlines in 2010

IATA forecasts profits for airlines in 2010

The International Air Transport Association (IATA) has revised its forecasts for the airline industry for this year after forecasting a loss in March. According to the industry body, global airlines will make profits of $2.5 billion (£1.7 billion) in 2010. In March, IATA forecast a loss of around $2.8 billion this year, following a severe [...]

Air France-KLM reports record annual loss

Air France-KLM reports record annual loss

The economic downturn appears to still be battering the airline industry after Air France-KLM reported a net loss of €691 million for the three months ending March, compared to a loss of €479 million in the same period a year ago. This took its annual loss for the full year to €1.55 billion (£1.33 billion) [...]

United and Continental Airlines in merger

United and Continental Airlines in merger

The world’s largest carrier has been created via a merger between United Airlines and Continental Airlines, as consolidation spreads throughout the industry. The two US airlines expect the merger to deliver savings of more than $1 billion a year. The deal, which is worth $3.2 billion (£2.1 billion), will see a company that will carry [...]

British Midland announces cuts to jobs and flights

British Midland announces cuts to jobs and flights

Lufthansa has announced it is planning to save £100 million pound at airline BMI, which involves slashing almost one quarter of its capacity and the loss of 800 jobs. The German owner also said the restructure will see BMI’s name changed back to its former name – British Midland International – believing that British Midland [...]

Highland Airways enters administration

Highland Airways enters administration

Scottish airline, Highland Airways, has gone into voluntary administration putting 100 jobs at risk. The company, which is based in Inverness and also has routes to Wales, called in administrators last night, PricewaterhouseCoopers (PwC), to take over the running of the business. The Civil Aviation Authority (CAA) said operations had been suspended “with immediate effect”. [...]

JAL reports 177.9bn yen loss

JAL reports 177.9bn yen loss

Japan Airlines (JAL), which last month filed for bankruptcy protection, has today posted a net loss of 177.9 billion yen (£1.31 billion, $2 billion) for the nine months to December 2009. The airline’s executive officer, Norikazu Saito, told reporters it suffered an operating loss of 120.8 billion yen on sales revenue of 1.14 trillion yen [...]

Losses shrink at Ryanair due to cutbacks

Losses shrink at Ryanair due to cutbacks

Irish budget airline Ryanair has today posted a €10.9 million (£9.4 million) loss for the October to December quarter. However, the loss for Europe’s largest no-frills airline was much less than the €101.5 million deficit it posted for the same period a year earlier – when fuel costs were sky-high. The group said the result [...]

British Airways wins High Court injunction, strike cancelled

British Airways wins High Court injunction, strike cancelled

The 12-day strike planned by British Airways (BA) cabin crew over Christmas has been averted after it was declared illegal in a High Court ruling. The ruling will be welcomed by thousands of passengers who were planning to fly over the festive period. Mrs Justice Laura Cox ruled that the cabin crew’s union, Unite, had [...]

Aer Lingus hit by dwindling passenger numbers

Aer Lingus hit by dwindling passenger numbers

The global economic downturn has forced many airlines out of business as fewer people are travelling by air and Irish airline, Aer Lingus, is no exception. According to the carrier, long-haul numbers plummeted 13% in the three months to September with sales falling by 9.7% in the same period. However, the number of short-haul passengers [...]

Airline industry suffers amid severe losses

Airline industry suffers amid severe losses

The International Air Transport Association (Iata) said major airlines continue to suffer amid higher fuel prices. According to the industry group, in the first six months of the year, airlines are likely to have lost £3.7 billion. Furthermore, the body said airlines made losses between April and June – the spring season when they would [...]

BA staff against pay cuts

BA staff against pay cuts

More than 2,000 British Airways (BA) cabin crew have rejected the company’s proposals to slash costs by freezing pay and reducing headcount. A deadline of 30 June was set by the company to reach a deal on 3,500 job cuts, a pay freeze and other changes, but no agreement was reached at that time. Speaking [...]

Annual profits almost double for Virgin Atlantic

Annual profits almost double for Virgin Atlantic

Virgin Atlantic has bucked the trend among airlines after reporting that it has almost doubled profits. In the 12 months to the end of February, pre-tax profits rose to £68.4 million, compared with the £34.8 million reported a year earlier. The announcement comes as many airlines continue to experience a slump in demand with many [...]