London- Pre-tax profits at British Airways (BA) slumped by nearly 92 per cent to just 52 million pounds (83 million dollars) over the summer period - "one of the bleakest on record" the airline said Friday.
Half-yearly profits between April and September were down from 616 million pounds for the same period in 2007 after fuel costs increased from 511 million pounds to 1.5 billion pounds, the airline said.
London - Pre-tax profits at British Airways (BA) fell by a staggering 91.6 per cent in first half of the company's financial year, figures showed Friday.
BA said pre-tax profit totalled 52 million pounds (83 million dollars), between April and September, down from 616 million pounds a year ago.
BA chief executive Willie Walsh said the period would "be remembered as one of the bleakest on record."
However, given the "difficult circumstances" under which BA had been operating, the result was acceptable.
Tokyo - Japan Airlines Corp saw its operating profit and revenues fall in the July-September quarter on high fuel prices and slowing demand for air travel amid the global economic downturn and lowered its earnings projections for the year.
Operating profit dropped 60 per cent from the same quarter a year ago to 26.31 billion yen (268.47 million dollars), and revenues were also down 6.7 per cent to 583.26 billion yen.
But net profit more than tripled in the second quarter of the fiscal year, thanks to gains from securities sales.
Malaysia-based low-cost air-carrier, AirAsia, has announced that it intends to roll out its operations in India with a daily direct flight between Kuala Lumpur and Tiruchirapalli from coming month (December).
According to the sources, AirAsia would start its daily direct flight to Tiruchirapalli from Kuala Lumpur with a brand new fleet of Airbus A-320.
To draw the clientele, the airline offers a special fares of Rs 699 (excluding airport taxes, fuel surcharges, etc) on the Kuala Lumpur-Tiruchirapalli flight.
The Bangalore-based airline, Kingfisher has defaulted on payments to GECAS. Vijay Mallya's Kingfisher Airlines leased four airplanes from GE Commercial Aviation Services (GECAS). The US Company filed complaint against Kingfisher before the aviation regulator of India for nonpayments.
Stockholm - The SAS Group, the operator of the joint carrier
Scandinavian Airlines, on Wednesday posted a pre-tax loss for third-
quarter 2008, citing high fuel costs, the economic downturn and a
goodwill writedown in its Spanish-based carrier.
SAS chief executive Mats Jansson said the group needed to implement
more belt-tightening measures saying the "crisis in the air travel
industry strikes indiscriminately."
He noted the recent bankruptcy of low-cost rival Sterling Airlines, one of some 30 carriers to fold so far this year.
The SAS Group posted a third-quarter pre-tax loss of 1.78 billion
kronor (231 million dollars) compared to a pre-tax profit of 457
million kronor in the corresponding business period of 2007.
London- Pre-tax profits at British Airways (BA) slumped by nearly 92 per cent to just 52 million pounds (83 million dollars) over the summer period - "one of the bleakest on record" the airline said Friday.
Tokyo - Japan Airlines Corp saw its operating profit and revenues fall in the July-September quarter on high fuel prices and slowing demand for air travel amid the global economic downturn and lowered its earnings projections for the year.
Malaysia-based low-cost air-carrier, AirAsia, has announced that it intends to roll out its operations in India with a daily direct flight between Kuala Lumpur and Tiruchirapalli from coming month (December).
The Bangalore-based airline, Kingfisher has defaulted on payments to GECAS. Vijay Mallya's Kingfisher Airlines leased four airplanes from GE Commercial Aviation Services (GECAS). The US Company filed complaint against Kingfisher before the aviation regulator of India for nonpayments.
