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30th of December 2010
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News Tag: airline industry

December 14, 2010

IATA continues to lift forecast for airline industry

by Kay Murchie
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 in March. Most of the growth will ...




August 16, 2010

IATA reports rise in demand for premium tickets

by Kay Murchie
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 with a 9.5% increase for economy ...




June 7, 2010

IATA forecasts profits for airlines in 2010

by Kay Murchie
”IATA
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 fall of $9.4 billion in 2009 - ...




May 20, 2010

Air France-KLM reports record annual loss

by Kay Murchie
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) - a record loss for the airline ...




May 3, 2010

United and Continental Airlines in merger

by Kay Murchie
”United
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 144 million passengers each year. Glenn Tilton, ...




April 14, 2010

British Midland announces cuts to jobs and flights

by Kay Murchie
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 is a strong brand that ...




March 25, 2010

Highland Airways enters administration

by Kay Murchie
”Highland
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". The airline, which was established in 1991 as Air Alba, ...




February 26, 2010

JAL reports 177.9bn yen loss

by Kay Murchie
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 - a fall of around 27% against the ...




February 1, 2010

Losses shrink at Ryanair due to cutbacks

by Kay Murchie
”Losses
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 had been boosted by a 37% ...




December 17, 2009

British Airways wins High Court injunction, strike cancelled

by Kay Murchie
”British
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 not correctly included the votes ...




November 9, 2009

Aer Lingus hit by dwindling passenger numbers

by Kay Murchie
”Aer
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 was up 10% during the three month ...




September 1, 2009

Airline industry suffers amid severe losses

by Kay Murchie
”Airline
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 traditionally make 50% of their yearly profits. Many airlines ...




July 6, 2009

BA staff against pay cuts

by Kay Murchie
”BA
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 after the meeting, a ...




May 26, 2009

Annual profits almost double for Virgin Atlantic

by Kay Murchie
”Annual
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 forced out of business last year. ...