Advantage and disadvantage of option tradings

Advantage and disadvantage of option tradings

Author: vtonya Date of post: 03.06.2017

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If your company's in the travel industry - Click Here Or If you are a member of the public - Click Here. Airlines currently excluded from cover: Cover will remain excluded until further notice. Revenues for the year to March 31 increased by Revenues haven't gone up by as much as they should have done. It blamed lower spending and political turmoil across Africa as well as currency devaluations in its main market of Tanzania. In the corresponding period, the airline reported a net profit of Rs Net sales during the quarter increased by As a result the operating profit or the EBITDAR also declined by The finance cost during the quarter decreased to Rs The company, a member of the Star Alliance airline group, said results were hurt by the underutilization of its fleet in winter months.

Revenues rose 3 percent to ELAL today reported its results for the first quarter of Passenger segments grew 7. El Al's supply of airplane seats was up 1. The company's activity in terms of revenue passenger kilometers RPK increased by 5. The airline's load factor reached El Al's market share at Ben Gurion Airport was Total operating expenses rose Out of this total, aircraft fuel expenses amounted to RM The airline also realised considerably lower foreign exchange gain of RM3.

SIA shares were down 6. Shares were facing their biggest one-day drop since November 6, when they sank 7. Virgin said its fleet simplification program, unfavourable movement in the US dollar, Cyclone Debbie in Queensland and its budget arm Tigerair being forced off its Bali routes had all hurt earnings. The group's net debt has been cut by 33 per cent so far this financial year.

Virgin said it expected its underlying performance in the fourth quarter to be better than in This is the third year running in which SAA has suffered a financial loss. The Montreal-based airline's operating revenue increased 8. As a result of the surprise announcement, officials from other airlines said that they are currently fielding seat queries from tour operators for Chinese clientele who were supposed to fly on Mega Maldives.

Established inMega Maldives is largely dependent on the Chinese market and has been hit by falling arrivals from the country. Arrivals from China, Maldives largest inbound market, fell 7. PK reported Thursday that its first-quarter group net result was negative million euros, wider than last year's loss of million euros.

Operating result was negative million euros, compared to last year's negative 99 million euros, however, increased to million euros from million euros a year ago. Last Thursday, the Icelandic airline published results showing a loss of some ISK 20 billion approx. Shares in the airline began to fall as soon as markets opened on Friday and had lost Shareholders voted unanimously to file for special administration, the carrier said in a statement following a meeting on Tuesday.

Under Italian law, the government will have to provide stop-gap funds to maintain operations and will appoint supervisors to turn around the carrier or order its liquidation. The administrators will take over the business and present a new strategy that may entail asset sales, reduced operations and job cuts aimed at making the airline viable within two years.

Alitalia, whose major shareholders are Abu-Dhabi based Etihad Airways and Italian banks, last week said it had exhausted all options to stay solvent after workers nixed a recapitalisation plan involving 1, job cuts.

Alitalia, which has 12, employees, has been stumbling in the wake of a previous bankruptcy in Economic Development Minister Carlo Calenda on 30 April said he hopes the carrier can be sold as "a whole, not in pieces.

With Alitalia reviewing its future after workers rejected a rescue plan and Air Berlin expected to report higher losses for on Friday, speculation has swirled that Lufthansa could be in the frame to take on the two carriers. Lufthansa has been driving consolidation among European airlines recently, taking over Brussels Airlines and leasing 38 planes and crew from struggling Air Berlin, to grow its budget division Eurowings.

But Chief Financial Officer Ulrik Svensson said on Thursday that Lufthansa was not looking to take over Alitalia and repeated that debt, anti-trust concerns and cost levels remained obstacles to further Air Berlin consolidation. Budget rival Norwegian Air Shuttle also said on Thursday it was not interested in any Alitalia assets. The filing is the latest development in a dispute between the airline and the company that operates its planes.

FlyGLO LLC, the airline's parent company, filed Sunday April 24 in federal bankruptcy court in New Orleans, asking a judge to allow it to continue offering flights beyond Thursday, the date its flight management company has said it intends to cancel its contract with the airline.

The management company claims GLO has fallen behind on payments it is owed. GLO in a Monday statement called the decision to cancel the contract "entirely unjustified" and blamed the management company for violating contract terms and providing poor service. It is not yet clear what will happen to GLO customers who purchased tickets for flights after Thursday if a judge lets the contract dissolve.

The airline's statement sought to reassure customers its business model is sound, but offered few details as to what would happen to ticket holders who could be affected by the dispute. New Orleans nonstop flight to Destin back on sale New Orleans nonstop flight to Destin back on sale Flights start in June.

We look forward to promptly and successfully emerging from reorganization in the near future. The aircraft was grounded as the engineers went on a two-day strike demanding their salary dues. The regional carrier, which started operations in July last with one ATR- 72 aircraft, is said to have parked the aircraft in Hosur. The owners of the aircraft, Elix Aviation Capital, is now desperately trying to retrieve the aircraft documents to the aircraft from the promoters of Air Carnival.

Sources in the know of the development told BusinessLine that the lessor has been after the promoter to retrieve the papers for a week now, in vain. Manufactured inthe aircraft is said to have been operated by Kingfisher Airlines before Air Carnival took it on lease. Volaris CEO Enrique Beltranena said the company "faced a challenging market and geopolitical environment" during the quarter.

Fuel prices increased significantly compared to a year ago, Volaris reported, with the company's average economic fuel cost per gallon rising Shares of Hong Kong's flag carrier fell almost 5 percent after the news. Cathay had warned its results for the second half of would be weak as it battles falling demand for premium class seats on long-haul routes.

It now expects the outlook to remain challenging in as the headwinds continue. Acknowledging the competitive landscape, Cathay recently undertook what was the biggest review of its business in two decades and said it would cut jobs and consider shifting some flights to its short-haul arm as part of a three year programme. This is only the third time the company has posted a full-year loss since it was founded in Intense and increasing competition with other airlines was the most important," Chairman John Slosar said.

Yield on cargo services fell Passenger numbers rose 2.

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Economic sanctions by Russia after Turkish forces shot down one of its fighter jets reduced traffic from that market in the first half of A statement from Citywing directors this evening March 10 says the company has found it difficult to source aircraft to continue to offer its scheduled services.

At the same time, Air Pegasus is unlikely to resume services from tomorrow as announced in January when new investors were roped in. Facing financial issues with the lessors, Air Costa has decided to ground its two leased aircraft, Embraer E, which can seat over passengers. The airline has only these two planes in its fleet. Rival Air Pegasus too had to shut operations for similar reason in July Prior to suspending its flight services, Air Costa had been operating 16 flights per day to eight destinations.

This is temporary halt, starting from today. Churasia said 1 December Tiara Air declared bankrupt News reports state that Tiara Air has been declared bankrupt. Its shares and flights had been suspended since Monday. The company has continuously lost money, and its shares have been sliding since the crashes in and raised questions about the safety of its planes.

Forty-eight people were killed. Another plane crashed into the Keelung River in Taiwan in Februarykilling at least 35 people. The pilot of that plane acknowledged later that he had shut off the wrong engine, according to a report on the crash. The report also said that he had failed a simulator test the previous year but passed a makeup exam.

It is the second time in 10 years that the celebrated airline has not made a profit. The result brought cumulative losses PK reported that net result for the third quarter of was negative Loss per share was 0. Pre-tax loss were The operating result or EBIT amounted to negative EBITDAR decreased to The financial result amounted to negative Group revenue for the quarter declined to 1. In a statement the Turkish flag carrier blamed political and economic instability in Europe and Middle East as well as the increased perception of global and regional risks which caused negative impact on aviation demand and placed pressure on yields.

Moreover, increased capacity, led by low fuel prices and increased competition, also affected ticket prices and total revenue. Only Africa and the USA maintained revenue levels for both passenger and cargo traffic During the nine-month period, the carrier transported This includes the impact of restructuring charges.

SAA Chairperson Dudu Myeni was briefing the media after releasing the airline's financial statements. She says the state-owned carrier needs "urgent and radical" action if it is to return to profitability. This would require aggressive cost containment and reviewing flight routes. She says the new board appointed in September together with other senior executive members of SAA are doing everything possible to make the airliner financially stable. She says they are also looking to stabilise the liquidity position of the SAA.

Although the airliner has reduced its losses. The board recognises on the issue of reporting losses cannot persist and radical actions are required. If this deal happens, Air Berlin will still be around, but at a more manageable size. The Portland-based company operated out of Memphis' Signature Flight Support and offered service to the cities of Hot Springs and Harrison, Arkansas. Customers who have a ticket from the airline can apply for a refund through the credit card company.

Gerald Khoo, an analyst with Liberum, said: Neither passenger numbers nor revenue kept pace with the additions to seat capacity, and losses have grown. The results confirm statements from finance minister Pravin Gordhan earlier in the week, saying that the airline suffered a R4. According to Gordhan, the airline faces another R1. The airline has accrued losses of over R18 billion over the past 10 years. SAA has also received a number of government bailouts worth at least R The results tabled before parliament are only the preliminary results for SAA.

According to the finance minister, the auditors of the report raised a number of technical issues, which need to be reviewed by technical experts before the results can be finalised.

Revenue for the group was down to R The Afghan civil aviation authority ordered Safi Airways on Sunday to pay 1. It added that authorities can also stop the company's executives from travelling outside Afghanistan. The finance ministry has allowed the tax office to seek court approval to confiscate and sell Safi Airways property if it fails to meet the payment deadline.

The airline, which was founded incurrently flies three domestic and four international routes. It is the country's second-largest airline after national carrier Ariana Afghan Airlines. Safi Airways transports many expatriates and benefits from the presence of non-governmental organisations, private security companies and other foreign entities in Afghanistan.

The Chief Executive Officer of the airline, Capt. Fola Akinkuotu, said the development was part of the strategic business realignment to re position the airline and return it to profitability. Tunde Gbenro and then Capt. Akinkuotu, the airline owned by the Alex Ibru family could not rise on its feet as its operations continued to shrink.

Aero recently suspended its operation to Accra, Ghana, a decision it attributed to unavailability of aircraft. However, the airline announced outright suspension of scheduled services with effect from today. It has asked the affected staff to proceed on leave of absence indefinitely. The company posted a net profit of million liras in the same period last year. In this vein, Turkish Airlines revised its year-end target to Turkish Airlines, which had estimated some 12 percent of increase in its total fuel consumption, said its average euro-dollar parity prediction is at about 1.

Revenue for the six months to 30 June fell 9. Cathay is facing challenges on many fronts - air fares, competition from other carriers and fuel hedging losses. The airline attributed the sharp downturn to slower global economic growth dragging down corporate travel and hitting sales of lucrative premium class seats. This adversely affected premium class demand, particularly on long-haul routes," the company said in its report. The airline has racked up repeated losses since it was formed in the merger of Chile's LAN and Brazil's TAM, hamstrung by Brazil's economic problems and negative currency effects.

Operating result EBIT was a loss of Group revenue was The Group said capacity cuts and adverse geopolitical events in the competitive European market during the second quarter of led to the 9. A spokesperson said the flights were cancelled due to "technical" issues and denied the company had suspended operations. Sources, however, said that lessors had taken repossession of some of its aircrafts due to nonpayment of dues. Despite repeated attempts, Air Pegasus managing director Shyson Thomas was not available for a comment.

Air Pegasus, which has three seater ATR aircrafts, operates out of the Bengaluru airport and connects nine cities in southern India, including Chennai, Mangaluru, Thiruvananthapuram and Goa. The airline's website showed that many flights on Wednesday were cancelled, and several for the coming days have also been cancelled. Thomas' company Decor Aviation Private, one of the largest domestic airport ground handling companies, started Air Pegasus last year. Decor provides services across 11 major airports in India.

The airline reported a net loss of Ks The stock has dropped 87 per cent in the past five years. Europe has been hit by a string of terrorist attacks. Last week, a truck driver in Nice killed at least 84 people when he plowed into revelers. Both incidents were linked to Islamic State sympathizers.

The Islamic State also claimed responsibility for an ax attack on train passengers in Germany this week. A terrorist attack against Brussels airport in March caused Lufthansa to delay plans to take over Brussels Airlines.

The company said its board "regards a complete recovery as not likely anymore. VLM Airlines filed a formal application asking for credit protection in May in order to avoid filing bankruptcy for six months. In addition, VLM Airlines also reported that its planned sale-leaseback deal for several aircraft in its fleet fell through due to an unsuccessful re-capitalization, as well as several charter clients canceling contracts.

In addition, the airline tweeted out the following: When Nordica was established the first-year loss was projected at 9 million to 23 million euros, Tamm said and added that he personally had hoped for a single-digit loss number.

According to the company's current plan, the loss is expected to decline from 15 million to 6 million euros next year and shrink further to 3 million euros the following year, after which Nordica might break even or even make a profit inMinister of Economic Affairs and Infrastructure Kristen Michal said. Nordic Aviation Group was established last fall to ensure continued direct flights out of Tallinn in the event of Estonian Air's bankruptcy.

The new airline started flights in co-operation with Slovenia's Adria Airways after Estonian Air went broke in the wake of a European Commission decision that deemed state aid provided to the company to be unlawful and ordered it to be returned, which Estonian Air was unable to do.

The airline has yet to respond to questions from Pasifik News, but a spokesman for Solomons Prime Minister Manasseh Sogavare says: The company reported a net loss of First-quarter revenue fell 2. The LCC attributed increased costs to the rise of aircraft lease rental and ongoing maintenance costs from a recent fleet expansion.

Additional pressure came from "domestic low-cost carriers still facing challenges from [local] price wars and oversupply. The announcement was somewhat surprised when the specialist VLM had said in a statement on April 11 that the latest figures showed an improving trend with occupancy rates rose in April and operational yields higher. Recall Besides that last February, VLM Airlines launched three routes in Germany from the airport Friedrichshafen. She has based three Fokker 50 flying to Berlin Tegel, Dusseldorf and Hamburg, with two round trips per day on each route.

VLM had taken these roads after the cessation of activity by the Austrian regional airline InterSky in November It was decided almost simultaneously to remove two routes deemed unprofitable earlylinking Antwerp to Geneva and Birmingham. According to the daily De Tijd, VLM was deadlocked and had options other than to seek that protection against bankruptcy for his KBC bank had blocked its accounts in midweek. Many suppliers would not be paid, some Antwerp Airport as having the same notice for an unpaid debt ofeuros.

The stock was down 4. They are curtailing growth plans and seeking new ways to reduce costs to deliver on promises of improving earnings. Lufthansa shares were among the biggest losers in morning trade on the Frankfurt stock exchange, shedding nearly six per cent in a market that was down by around 1.

Lufthansa said in a statement that it booked a net loss of 8. But the airline pointed out that the year-earlier figure had been boosted by one-off financial gains. At an underlying level, earnings before interest and tax EBIT showed a loss of 49 million euros, compared with a much deeper loss of million euros a year earlier.

First-quarter revenues slipped by 0. Shares in the airline tumbled 4. Rayani Air founder Ravi Alagendrran said the decision was made following a strike by the airline's pilots yesterday and "technical" issues, which he did not elaborate on. We will take this time to work out the operations and technical issues that have surfaced," Ravi said. Ravi told staff in an email yesterday that operations were suspended with immediate effect until further notice as part of a company restructuring exercise.

This would be the second restructuring exercise by the local company since it was founded on January 19,when Rayani Air changed its call sign from red to green and turned from a low cost carrier to a full service airline. The net loss was 1. Fourth-quarter net revenue totaled 2. The company posted a record annual loss of 4. Gol, like its peers, was hit by a 3. Airlines have been particularly hurt by weak demand among business travelers, who typically generate the most-profitable fares.

And how much they paid for their Sierra Leonean passport and citizenship is another question for another day. But as most credible financial analysts would agree, this was an enterprise that was doomed to fail, if the company registration document filed with the British Company House by both men, is anything to go by. Cost-cutting measures and lower fuel costs helped stem the flow of red ink.

A year ago, the net loss totalled million kronor. Revenue in the November to January period was 8. The first quarter is traditionally its weakest. The airline - whose main owners are the governments of Denmark, Norway and Sweden - is facing stiff competition from low-cost carriers such as Norwegian Air Shuttle. Difficult market conditions in the African airline industry have lasted longer than management expected, Fastjet said in a trading update.

Results this year will be worse than expected and the company does not expect to generate any cash in But the company said it might seek to raise further funds later in the year. Republic said the bankruptcy process would allow it to continue normal business while restructuring its finances and contracts. It is among of handful of regional airlines that have filed for bankruptcy since American Airlines filed in United said in a statement on Thursday that it does not expect to change its flight schedules because of the bankruptcy.

American said it is too early to assess an impact on scheduling, and Delta did not immediately return a request for comment. The Civil Aviation Authority of Thailand said fresh doubts were cast over City Airways' safety standards and the airline missed a key deadline on Friday. CAAT chief Chula Sukmanop told the Bangkok Post Sunday his agency found City Airways unsafe to fly and ordered the 8am flight E to Hong Kong grounded until the problem was rectified.

The flight suspension left Chinese passengers stranded. Mr Chula said the airline was responsible for taking care of the stranded passengers and finding alternative flights for them. He said the Hong Kong aviation authority also raised a red flag on the airline's airworthiness in five areas. Two of the faults have to do with a co-pilot working without taking the mandated minimum break and the airline employing some untrained flight attendants. The CAAT informed City Airways in advance that it would be allowed to operate only until Feb 12, unless the problems were solved.

Regular City Airways' flights from Phuket to Hong Kong were also suspended yesterday on similar grounds. City Airways management appealed to the CAAT for leniency, saying it had about 2, passengers booked for travel. The CAAT ran checks and discovered the airline has unpaid debts to Aeronautical Radio of Thailand and aircraft leasing firms.

Mr Chula said the CAAT will consider the airline's finances and decide if it is fit to conduct business in the aviation industry. The airline operates a Boeing aircraft on its Don Mueang-Hong Kong and Phuket-Hong Kong routes. The source added the airline was also behind in paying its pilots' salaries.

Aircraft maintenance standards were also questioned. The airline charges low-priced fares, attracting mostly Chinese tourists.

A source in the Transport Ministry said small private airlines, particularly charters, have been monitored closely as some of them are prone to liquidity crunches and financial insolvency with cases pending in court. Air safety is also a major problem. The airline, founded in with a current paid-up capital of million baht, said the order took effect on Sunday as the company is seeking all possibilities "to resume its operations as soon as possible". On Jan 27, the CAAT banned an Asian Air aircraft from leaving the navy-owned U-Tapao airport in Rayong province to pick up passengers in Macau before flying on to Palau, an island country in the western Pacific Ocean, after it received an order from the Central Bankruptcy Court to freeze the debt-laden airline's assets.

Bankruptcy Court for the District of Oregon. After much consideration, the Board of Directors of the Oregon-based airline has determined that reorganization is the best path forward for SeaPort Airlines, allowing the company to achieve long-term viability while maintaining its ability to provide air service to customers and communities.

The announcement comes after the airline took a number of necessary steps to reduce its route network as a result of a national pilot shortage. Normal, day-to-day operations will not be interrupted by the filing. That same Friday a meeting between the aeronautical unions and company managers in the Ministry of Labour with the aim of finding a solution for the more than company employees agreed.

In this regard, the airline said in a press release that "comply with all legal obligations to its staff and has already requested the relocation of passengers who had acquired the company services, aspects that are already planned and resolved. This is due to unpaid airport charges for landing, take off, parking of aircrafts and related service fees. The company only officially launched in February this year.

The low-cost airline has been hampered by problems in recent months, with flights being cancelled in November, leading people to question its future. In October, the airline reduced the number of its daily flights flights from eight to six, when flights were grounded over a payment dispute with the ACSA. Despite making two of the agreed payments, the airline said an extension on its third payment due on 1 December had been refused.

The third installment was due to be paid on 1 December for which an extension of 48 hours was requested and rejected. Any business takes months to break even and we were close to that. With peak season ahead and more than 8 passengers having booked to fly with Skywise airline, they must be looking forward to have their holidays. If Skywise fail there no entrepreneur will be brave enough to take the challenge to launch into this brutal industry! The carrier booked a loss of RM Details of decision will be provided "in due course," he wrote in an email.

SkyGreece was founded in and started operations in with one Boeing plane. It cancelled all of its flights in late August, saying it was due to technical issues and financial setbacks resulting from the Greek economic crisis, but didn't elaborate. The airline described the move as a temporary and said at the time that operations were expected to resume soon.

On Monday, 09th NovemberInterSky will apply for insolvency. As a result, the ticket sale has been stopped and aircrafts remain on the ground. Any claims of passengers with booked InterSky-tickets can make an application to the Landesgericht Feldkirch federal court as by Monday, 09th November with the certain reference number. InterSky will announce and communicate the reference number on Monday, 09th November We truly regret the inconveniences and kindly ask for your understanding!

But, the authorities in Tallinn moved to absorb the shock by immediately setting up a new carrier to take over key routes. The carrier promised that passengers with tickets would be offered replacement flights with other airlines, or that they could claim a refund payable next month.

The announcement came after the European Commission ordered earlier on Saturday the state-controlled airline to pay back the millions it had received in aid. Earlier this week, the airline surrendered its operating licence citing operational challenges. Close sources say the decision to surrender the operating licence is a result of boardroom squabbles and shareholding disputes.

The airline has local and foreign shareholders. Apart from the internal disputes, the airline has not been remitting passenger services charges to CAAZ. Information gathered also reveals the airline aircraft were not based in Zimbabwe while the company did not have an accounting manager in violation of Statutory Instrument There was drama at the Harare International Airport on Tuesday when passengers had to be asked to disembark from the plane.

Despite surrendering its licence, the airline had booked passengers, prompting CAAZ to intervene for the safety of the passengers and to enforce the law. The airline was licensed by CAAZ in August and introduced its first aircraft in the same month to service the Victoria Falls-Johannesburg route.

Negotiations on a takeover of Russia's second-biggest carrier by Aeroflot have been deadlocked. According to sources, Aeroflot took a hard line refusing the Transaero consolidation. The results were worse than the market had expected. Analysts polled by The Wall Street Journal forecast earlier this week that the carrier would post a second-quarter net loss of The Korean flag carrier said the bottom line was also hurt by a weaker Korean currency inflating the value of its foreign debt and interest payments.

No new MERS cases have been reported since early July. Korean Air said Thursday it has resumed normal operations on all routes to China and Japan.

Latam Airlines SA, which reported a wider-than-expected loss Thursday, is down 10 percent this week to a nine-year-low. Weaker currencies are making travel more expensive for Latin Americans amid a regional economic slowdown and offsetting the benefits the airlines would have normally seen from the bear market in oil.

Copa also slashed guidance on Aug. Avianca will report earnings next week. The airline, 29 percent owned by Abu Dhabi-based Etihad, has made operating losses in four of the last five years and changed its chief executive four times in the last three years as it seeks to stem losses and reduce debt.

It reported a second-quarter loss before interest and taxes EBIT of Net loss came to Sales dropped from 1. That caused a spike in the number of cancellations of trips by Chinese and Japanese tourists," the company said. Sales in the passenger sector shrank 7. During the first half, the company posted a net loss of Shares of Asiana Airlines closed down 4.

Unlike Bali, Virgin will not replace its services with Tigerair. Henry Rotich told Reuters the final figures and the form of recapitalisation would depend on a turnaround plan being prepared by Mckinsey and Seabury consultants, who were hired by the airline part-owned by AirFrance-KLM. In a terse statement Syphax said flights in to and out of Tunisia would be grounded from midnight, without giving a reason for the decision.

The announcement comes a day after the International Air Transport Association IATA said it was suspending all activity with Syphax, according to Maktouf. Tunisian media said IATA, the world's largest airline association, has instructed its partners, including travel agencies, to cease dealing with Syphax, saying the carrier had failed to meet its financial obligations.

Syphax was founded by businessman Mohamed Frikha following the uprising that toppled president Zine Ben Abidine Ben Ali. Tunisia has struggled to rebuild its economy since the uprising, namely its tourism industry.

The report came at the same time as claims that the company could be set to free up some of its Belfast to Gatwick slots as part of a European Commission requirement amid the IAG takeover. Despite a five-percent increase in passenger revenue for the first half ofincome from cargo plummeted 81 percent, the company said.

Tightening competition and the adverse effects of exchange rates also helped drag the airline farther into the red. De Juniac has been urging unions to agree to a five-year "Perform " plan to boost efficiency. Fearful of job cuts and salary reductions, unions have resisted several points in the programme, especially expansion of its low-cost Transavia airline. In revealing the continued losses during the first half ofde Juniac appealed to unions to join management to find a way of returning to profit.

Consumer confidence was badly affected when Flight MH disappeared with people on board in Marchand just four months later, Flight MH17 was downed by a suspected ground-to-air missile over Ukraine - killing people. The tragedies led to Malaysia Airlines being taken into state ownership and delisted from the stock market, but analysts claim the company has been mismanaged for years - a sentiment echoed by Mr Mueller.

Stiff regional competition has led the company to post losses for several years - and in a statement, the airline pledged to "stop the bleeding" in its finances by the end ofin the hope it will return to growth by Mr Mueller, nicknamed The Terminator in Ireland for the job cuts he implemented at Aer Lingus, is expected to reduce the number of long-haul routes offered from Malaysia to Europe, and focus on regional services.

However, a "profitable" twice-daily service from London Heathrow to Kuala Lumpur is set to continue. Under the new CEO's plans, Malaysia Airlines' workforce would shrink to 14, The challenges facing the company come amid low jet fuel prices, which are expected to make this year one of the most profitable for the industry since the start of the century.

Mr Mueller said it was "business as usual" despite the disruption - and told passengers all reservations would be honoured, with scheduled flights going ahead as planned. Newly installed chief executive Christopher Mueller said operations would continue as normal under the administration and existing reservations would not be affected. The appointment of the administrator comes under the Malaysian Airline System Berhad MAB Administration Act enacted by the Malaysian Government. The airline was already in financial trouble when it was hit by the loss of two Boeing s last year.

Air Lituanica cancelled all its flights as from Saturday. The company still operated flights to and from Amsterdam, Paris and Tallinn on Friday. A solution for some passengers was found, the company noted. AirBaltic is a Latvian airline operating in Latvia, Lithuania and Estonia. Air Lituanica stressed all passengers have guaranteed flights with the Latvian company for the next eight days.

However, it has yet to be determined who will carry passengers travelling after May Air Lituanica promised to provide a solution to this by next Monday at the latest.

Remigijus Simasius, mayor of Vilnius, said he learned Air Lituanica was close to bankruptcy one month ago when he came into office after mayoral elections earlier this spring.

However, Rimantas Sinkevicius, Lithuania's transport minister, said the collapsing company could have been saved by an investor. According to Simasius, the Lithuanian government refused to financially support the airline. Vilnius municipality, the main Air Lituanica stockholder, suffered about 10 million euro about 11 million U. Simasius did not dismiss the possibility of an official investigation into the airline activities. Air Lituanica was established in at the initiative of the then-Vilnius mayor Arturas Zuokas.

It is the second Lithuanian air carrier to cease operations. Defunct privately-owned flyLAL-Lithuanian Airlines grounded all flights early in also due to financial troubles.

PK reported that its net result for the first quarter of amounted to negative Loss per share was 1. The financial result in the first quarter of amounted to negative Pre-tax loss narrowed to The operating result EBIT amounted to negative Last week, Island Air said that it would cut its workforce by 20 percent, close its operations on Kauai and cancel delivery of new aircraft in the short term as it repositioned itself.

Saleh Dunima, said efforts were however being made in Abuja with the two unions to resolve the crisis. Speaking on anonymity, an authority hinted that the Arik air had also failed to remit the passengers service charge of N1, the amount which is due to FAAN also runs into millions. The source disclosed that what Arik is owing FAAN from landing and parking fees is N1.

He said Arik could only be allowed to commence flight operations if they can pay a substantial percentage of the amount before the close of work yesterday. The source said the allocation of slots seven and eighth to Arik which covers operations within the 22 airports would have been an added advantage to the airline, adding that some local airline operators do not have such advantage of flying the 22 airports. A decline in domestic supply hurt the results. Still, TAP said in a statement passenger numbers rose nearly 7 percent to Plane occupancy rate also rose to Various strikes at TAP, called against the privatisation because of fears it will lead to job losses, along with operating problems with its fleet and other factors cost the airline million euros.

In January, after talks with the unions and threats of more crippling strikes, the government said any buyer or buyers of TAP would be barred from laying off workers en masse as long as the state remains a shareholder. The government plans to sell its 66 percent controlling stake in TAP, but will retain a 34 percent holding that could be sold two years after the privatisation.

TAP has debts gcm menkul forex some 1 billion euros and the cash-strapped state is banned from injecting capital into the company under European Union rules. SK on Thursday reported a widening net loss for its fiscal first quarter as costs increased due to reduced capacity. The airline said net loss for the three months ended Jan. Sales during the period notched SEK8. Shares closed at SEK The performance raised concerns on whether the carrier can turn around quickly while it battles wallstreet forex robot diamond competition and soaring debt, brought about by high operating costs and aircraft purchases in recent years.

Pet rescue putnam county ny airline is one of Thailand's major state companies undergoing reform since the military seized power in May.

It is expected to post further losses this year due to higher costs from restructuring, which involves cutting operating costs and capacity by 20 percent, selling aircraft and job cuts. The airline posted a net loss of 6. Six analysts surveyed by Reuters had forecast an average 2.

A foreign exchange gain of 3. Lufthansa is trying to cut costs to better compete with forex trading sole 24 ore carriers and rivals from the Middle East.

Its efforts have met fierce resistance from pilots, who went on strike 10 times last year and have already held one walkout this year. Lufthansa shares were down 4. Some analysts had already said Lufthansa might not pay a dividend forbut the average forecast was still for a payout of 0.

Shareholder Union Investment welcomed the dividend cut.

advantage and disadvantage of option tradings

The owner of Air France and KLM airlines said group revenue fell 2. In the ever-turbulent airline industry, which has previously blamed over-capacity for denting profits, the outlook is still challenging in Europe which isn't much helped by worries over joint stock commercial bank for foreign trade of vietnam iban Eurozone economy.

There's pressure from increasing competition from low-cost carriers and Asian and Middle Eastern airlines expanding into the region. It is also in the midst of a five-year plan to reduce costs in its French business and expand its low-cost carrier Transavia. The move had been expected. Ambrozik argues that there is no forseeable way of making the airline profitable.

Futures broker dominica treasury had a The filing came less than a month after Japan's third-biggest airline said the European aircraft maker was planning to sue it over the collapsed deal.

Skymark said company executives have held an emergency board meeting and filed for bankruptcy protection with the Tokyo District Court. President Shinichi Nishikubo - who rejected an Airbus call to merge with a larger rival after their dispute was made public in July - also resigned on Wednesday, the carrier said in a separate statement. The market profile urban forex will continue operating for the time being, it added.

The airline is in talks with Airbus to reduce the size of the penalty, after accusing Airbus of threatening it with "overpriced" costs. Earlier this month, Japan's Asahi newspaper said talks about rival All Nippon Airways ANA investing in Skymark had fallen apart, and that the loss-making carrier would try to climb out of the red on its own.

Skymark rejected that report but said it was talking with ANA and Japan Airlines about code-sharing, as well as with domestic and overseas funds over a possible investment deal.

The carrier has struggled because of fierce competition in the airline sector, and its woes deepened after the Airbus affair made headlines last summer.

Skymark's Tokyo-listed shares lost about half their value after Airbus cancelled the order for six A jets, signed inapparently over concerns it would not get paid. Following make money working with google adwords free bankruptcy filing, Tokyo Stock Exchange announced it would delist the airline from Mar 1.

Hamburg Airways could not immediately be reached for comment. Privately owned Hamburg Airways was founded in December and started flights in March It was the successor of Hamburg International, which declared insolvency in October Finance Minister Harris Georgiades and Communications Minister Marios Demetriades said that an administrator will now be tasked with winding down Cyprus Airways.

The country's air transport licensing authority said it revoked the airline's license because it could not ensure flight safety as a result of its financial troubles. The ministers said the government will cover the estimated cost of million euros of Cyprus Airways ticket holders who either wish to be reimbursed or make alternative travel arrangements. He said plans are under way to set up a new company with private backing that will bear the Cyprus Airways name and logo. Several dozen airline staff milled outside the company's Nicosia offices awaiting word of what will happen to them as Georgiades said they will receive salaries and pension benefits that they're entitled to.

Georgiades said the airline's financial troubles were so severe that potential investors couldn't be wooed. Early investment feelers sent out by companies including Ireland's Ryanair and Greece's Aegean went nowhere. The company, founded instruggled due to years of graft and mismanagement, and hemorrhaged money as it could no longer compete with new low-cost airlines that grabbed huge chunks of its business.

Authorities tried to salvage the bloated airline through several restructuring plans that halved staff to around people and shrunk the fleet to six planes. But the last straw came by way of the European Commission's ruling.

The company decided to file the case on Dec. However, Zaky declined to explain why the total amount of its debts was lower than the Rp 2. The family owned company has been steadily declining for more than 12 months after the loss of Queensland Government contracts and higher operating costs due to a weakening Australian dollar.

Managing director Simon Wild said in a statement it was a sad day for the business, its staff and the passengers product diversification strategy pros and cons communities of north Buy shares in a vineyard. Mr Wild said the company made its own decision to close due to an uncertain future.

He said Skytrans ceased trading on Friday to ensure it could maximise its cash reserves for staff redundancies, suppliers and passenger refunds. A statement from the airline said: Its aggressive cost-cutting programs penny stocks at scottrade faced stiff opposition from labor unions, which two years ago accused the airline of bullying them into accepting job cuts and lower wages. It had filed a bankruptcy petition against the carrier, claiming the airline had failed to pay the leases on a number of TuM planes.

UTair is the third airline in terms of passenger traffic in Russia. The company's net loss for the three months ending September 30 reached USD million, expanding from a The result marks the seventh straight quarterly loss for Malaysia Airlines, which already had struggled to stay competitive even before the mysterious loss of flight MH and the July 18 shooting down over Ukraine of flight MH SN, Latin America's largest airline, on Thursday reported a larger-than-expected net loss for the third quarter, due to a fall in business travelers and cargo traffic during soccer's World Cup in Brazil and weakening regional economic growth.

Flybe's stock fell as much as 23 percent to pence, making it one of the top percentage losers on the London Stock Exchange.

The carrier posted a pretax loss of Flybe was hurt by an increased flight delay claims provision, external costs related to surplus capacity and revaluation of U. The company booked an impairment charge related to the sale of its 60 percent stake in loss-making Flybe Finland to partner Finnair. Citing slower capacity growth and higher market costs, Liberum analyst Gerald Khoo cut his full-year forecast to a "small pre-tax loss".

The embattled carrier had only just returned to profitability last year, helped by brutal cost-cutting that involved giving up airport slots, slashing jobs, exiting unprofitable flight routes and grounding surplus fleet. The airline, which is part-owned by Air-France KLMreported a pretax loss of Shares fell how to make money with mary kay percent to a session low of 7.

Mbuvi Ngunze, the airline's new chief executive, said bookings on long haul destinations like London plunged by as much as 40 percent during the peak summer holiday travel season as tourists shunned Kenya's coastal resorts. Kenyan authorities blame the attacks on militants from neighbouring Somalia.

Ngunze said the airline's planes were 64 percent full, lower than 69 percent in the corresponding period a year ago. Kenya Airways added an extra passenger seats during the period, buying new Boeing Dreamliners and BS. Ngunze blamed the outbreak of the Ebola virus in three West African nations for the poor performance. Actually people stopped flying to Kenya," he said.

Operating profit was down The airline group attributed the disappointing performance to the strengthening of the euro against several revenue currencies, the ongoing weakness of the Finnish and eurozone economies, tumbling unit revenues, and declining cargo revenues. The Newport News-based airline cancelled all flights at the end of September, after both planes it leased from Vision Airlines were grounded because of maintenance issues.

Peninsula Airport Commission Chair Jim Bourey told WAVY. Also thrown out was a proposed partnership that would have seen the government get equity in the airline in lieu of reviving the carrier which was liquidated 14 years ago. The The official affiliate marketing/make money online thread part has learnt that, barring a positive outcome from high-level negotiations, the business case for Air Uganda, which was just five months short no fee stock brokers its seventh anniversary before hell broke loose on June 17, has changed so radically over the past three months that a return to service is not viable.

According to sources at both the Ministry of Works and the Uganda Civil Aviation Authority CAAthe letter communicating this decision was delivered to Works Minister Abraham Byandala last week. This week, Air Uganda also formally handed back its offices at Entebbe International Airport to the CAA.

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The airline had earlier surrendered its sales office in Kampala to new entrant flydubai, which inaugurated services between Entebbe and Dubai on September This communication came just as Air Uganda and CAA had completed the most critical stages in the recertification process.

The CAA withdrew the certificates after it updated its procedures, comment supprimer make money online the operators of the new regime just days before the suspensions and, according to sources, in his August 21 letter, Mr Byandala regrets these actions by the air transport regulator. As part of efforts to manage the resulting falling-out, the regulator proceeded to issue routes previously operated by Air Uganda to competitors such as RwandAir, Ethiopian Airlines, Fastjet and, more recently, flydubai.

The slowdown, sanctions, and a fall of the ruble which raises the cost of foreign travel and holidays, have undermined travel agencies and put the brakes on recent percent annual growth of air-passenger traffic. Several travel agencies have gone bankrupt, stranding passengers abroad. Aeroflot, which is controlled by the state, reported a net loss of 1. The company has achieved firm growth and rising profits in recent years. The airline, a member of the SkyTeam alliance with Air France-KLM, reported an operating loss of 1.

Underlying operating profit as measured by earnings before interest, tax, depreciation and amortization, a key measure of performance, dropped But the airline had outpaced market trends on some counts, he said, and about binary option trading hybrid rose by 9.

But operating costs rose by Interim profit at rival China Eastern Airlines Corp plunged Revenue growth of 9. The airline carried Revenue at Shanghai-based China Eastern rose 2. Both airlines blamed exchange losses for their disappointing performance.

China Southern, which derives more of its revenue from international and long-haul routes than China Eastern, said "special circumstances" also affected its Southeast Asian and Xinjiang routes.

Mainland airlines are prone to currency risks as they have yuan-based revenue and dollar-based debt for their aircraft purchases and leases. China Eastern said it had interest-bearing foreign currency debt equal to The yuan declined as much as 3.

Passenger yield, which measures per unit profitability of airlines, declined 1. Both airlines said the second half, traditionally busier, remains filled with challenges and opportunities as travel demand hinges on the outlook for the Chinese economy.

The other Big Three state-owned carrier, Air China, reported a The suspension of share trading comes ahead of the announcement of the airline's plans for restructuring, which could include job cuts and a change in top management. Khazanah Nasional, which owns 70 per cent of the carrier, will hold a press conference later on Friday. Major changes at Malaysia Airlines were foreshadowed earlier this month following the twin disasters of flights MH and MH Flight MH disappeared on March 8, possibly over the Southern Ocean, and Flight MH17 was shot down on July 17 while flying over rebel-held eastern Ukraine.

A total of passengers were killed in the two aviation tragedies. The airline is expected to be de-listed and privatised. Khazanah Nasional flextrade systems revenue previously said it would purchase all minority shares in the flag carrier and finalise a restructuring plan by the end of August.

The carrier blamed weak consumer sentiment, overcapacity in the market and carbon tax costs for the loss. The carrier, which is Australia's second largest behind Qantas, said ongoing uncertainty around the economy had also contributed to its full year loss and that it would not provide a forecast for the following financial year.

Qantas has also decided to separate its domestic and stocks to buy on muhurat trading arms, creating a new corporate entity for Qantas International. Joyce said the Qantas Sale Act, recently passed by the federal parliament, had paved the way for the structural separation.

Qantas attributed the result to increased competition from other carriers and record fuel costs. Critics were quick to lambaste Qantas for the stock broker salary denver co, including the former prime minister Malcolm Fraser, who took to Twitter to criticise Joyce soon advantage and disadvantage of option tradings the results were released.

Qantas ruled out any new Jetstar ventures in Asia while it tries to get itself back to profitability, but Joyce was confident of the future of its operations in Singapore and Japan. The profit was in line with the 55 percent to 65 percent decline forecast by Air China on July The yuan fell more than 2 percent against the dollar in the first half of this year, driving up costs for Air China, which has 70 percent of its debt denominated in the greenback at the end of Foreign exchange losses are expected to also weigh on the earnings of China Eastern Airlines Corp.

The stock has dropped 16 percent this year, compared to a 7. Tarom ended each of the last six years with losses, which totaled some EUR million for the period. InTarom posted a EUR In the end, the Transport Stock broker salary denver co decided to fire the board and keep Heinzmann as CEO. These would be the highest revenues for Tarom since The current status of Wasaya was discussed at a recent shareholders meeting in Thunder Bay where Wasaya management painted a bleak picture for the 12 chiefs that represent the communities that own the company.

APTN Investigates contacted Crowe Wednesday and he elaborated on the problem. One of the major problems is the chiefs have been racking up credit. APTN was told Wasaya was having another meeting Thursday where a plan would be discussed to try and save the company. But as an APTN investigation has found out, as we reported earlier this year, the financial instability of Wasaya has been going on for a number of years. InWasaya was losing day penny simple stocks trading tips. The trial term has been set for September 3rf Tickets for Fly Romania can no longer be purchased on the website.

Two months ago, Fly Romania flights were being cancelled left and right. The number of tickets bought did not match the number of flights according to Fly Romania representatives. Initial plans of transporting overpassengers this year for revenues of EUR 15 million collapsed, and Fly Romania only carried thebotnet make money android, of passengers in its couple of months of activities, given that the air company had a capacity of 6, passengers per day.

On August 5, Romanian businessman Ovidiu Tender announced his airline Ten Airways has ceased its collaboration with airline Fly Romania over unpaid debts amounting to EURExpenses paid in U. An uncertain economic outlook for Europe and Asia weakened demand, the company said. The nation euro bloc posted zero growth last quarter as its three biggest economies failed to expand. Finnair shares fell 2.

Quote Wednesday reported a loss for the second quarter compared to profit last year, primarily reflecting lower than expected performance incentive bonuses under the company's flying contracts and the unfavorable flying contract settlements, which in turn hurt revenue. Analysts' estimates typically exclude special items. UK holidaymakers who are abroad without a valid return ticket have been advised to book a when do christmas markets start in stockholm with a different airline and those with booked tickets are advised to contact their credit card users.

The carrier was how to make money with metacafe ATOL-protected, meaning passengers stranded abroad will not automatically be given flights home and those with tickets will not be given a refund by the Civil Active stock market quotes msn Authority. ATOL protects travellers from losing money or being stranded abroad if the tour operator goes out of business.

Fly Olympic AB operated flights from London's Gatwick Airport to Eritrea and Somalia via Stockholm and Athens. AUA now expects a fullyear operating result at the level of last year EUR 25 million rather than the previously targeted improvement. AUA had previously made no provisions for the dispute concerning the cancellation of the collective agreement with pilots and flight attendants two years ago.

In H1, AUA's operating loss widened to EUR 44 million from EUR 35 million gap a year earlier. German flag-carrier Lufthansa also saw strike action weigh on results. The unannounced audit of the carrier's operations occurred in connection with a series of 'massive' multi-hour delays over the period July 11 to Airline CEO Mikhail Alekseyev blamed the delays on a lack of suitable operational equipment which subsequently impacted negatively on Moskovia's finances.

The Izvestia newspaper reports the carrier has already been forced to suspend the sales of tickets for regular flights with effect from July Loss per ADS was 0. Total operating revenues were 3. During the quarter, the airline reported an operating loss of SGD Total revenue was down Total expenses fell In addition, Tigerair had to shoulder a SGD The group also recorded a SGD Tigerair Singapore reported an operating loss of SGD OS Thursday swung to an operating loss in the second quarter as costs related to a the lease of aircrafts and a labour union strike offset higher passenger volumes.

Norway's budget airline swung to an operating loss of Still, it booked a graal era trade system net profit of In the year-ago quarter, net profit was Revenue at Norway's budget airline rose to 5.

Norwegian, Europe's third-largest budget carrier by revenue, has rapidly expanded its international fleet capacity and opened several new bases in Europe in recent years. Other one-off costs in the second quarter were related to the lease of aircrafts and a strike from the labour union Parat. In a statement, Air Uganda CEO Cornwell Muleya said the audit assessed the UCAA, rather than the airlines under its supervision.

Air Uganda has held IATA Operational Safety Audit IOSA approval since and had been cleared for a further two years until He added that 31 days had passed since the initial grounding and recertification was still several weeks away. This has put the airline in breach of its lease contracts, which require its aircraft to continue flying.

Air Uganda, option trading quora employs staff, launched operations in at the request of the Ugandan government.

It flew from its home base of Entebbe to Bujumbura, Dar es Salam, Juba, Kigali, Kilimanjaro, Mogadishu, Mombasa and Nairobi. Monarch has been forced to cut prices on its flights this year after a hoped-for recovery in the industry failed to materialise, and as rivals easyJet and Ryanair added more flights to their existing routes. The sources said that as part of conversations discussing debt financing options around the fleet deal, it became apparent that further equity was also needed.

The expanded fleet will allow Monarch to continue to win new customers, as part of its network strategy focused on scheduled flights, rather than its traditional role as a charter carrier. However conditions in the travel industry continue to be tough, with overcapacity helping to push yields down, and operating costs continuing to rise.

A Monarch Group spokesman declined to comment. Earlier this week, China Southern Airlines also reported a first-half net loss of CNY million to CNY1. Industry analysts point out that Chinese carriers rely on exchange gains to earn profits with yuan appreciation. China Eastern is also expected to report first-half losses. Europe's second-largest traditional network carrier warned its profits could be as much as 12 percent lower than previously predicted, mainly as a result of overcapacity and resulting weak prices in both the passenger and cargo sectors.

Shares in the Franco-Dutch group fell more than five percent to 8. Its warning comes weeks after a similar jolt from Germany's Lufthansa, which brinker stock options on profit targets for and due to weaker-than-expected passenger revenue and cargo trends.

Among the factors it blamed were overcapacity on North Atlantic routes and competition from low-cost and Gulf carriers. Since the Lufthansa statement, other smaller players have warned on profit such as Icelandair and Jet2. Air France-KLM said the lower expected result - at 2. The government requires airlines to sell tickets in the local bolivar currency, but has been slow to allow repatriation of funds under strict foreign currency controls.

He said the cargo and Venezuela factors represented about half the resulting profit guidance adjustment together, with the fall in passenger yields accounting for the other half.

There has been talk Air France-KLM will sell all or part of its Martinair cargo division. Privately-owned Livingston operates three Airbus As on scheduled and charter services from its base at Milan Malpensa. This was exacerbated by the decision of the Sardinian regional government to withdraw a licence for a PSO route operated by Livingston between the Sardinian city of Alghero and Rome Fiumicino.

This meant that services would continue as normal past the previous 14 July cut-off point. Livingston spokeswoman Silvia Ruscitto toldATW Tuesday that the granting of bankruptcy protection would give it breathing space to reform its finances. The Alghero-Rome route is heavily seasonal, losing money in the winter but solidly booked in summer as Italians head to the Mediterranean island for holidays. The flights ceased June 6, just as the summer season was getting underway.

Capacity reached 60, seats in May, up 11 percent from a year earlier, though yields are under pressure from price cuts at Air Tanzania and Precision Air Services Ltd. Some 95 percent of planes are operated to schedule, an unusual display of reliability in Africa, where flights can commonly be hours late or be scrapped altogether at the last minute.

Second-quarter revenue fell Operating expenses came to SEK9. President and CEO David Cush pointed out the first quarter marked the sixth consecutive quarter in which Virgin America has improved its financial results year-over-year.

First-quarter traffic increased 5. The LCC saw a drop in passenger numbers of Due to diminishing prospects and no buyers, shareholders Tiger Airways Holdings, Saratoga Group and PT Cardig International have closed down the entire operation.

Lufthansa had previously predicted an operating profit of between 1. The company says it lowered its forecast because of weaker passenger and freight demand, the impact of strikes and the fall in the value of Venezuela's currency. Lufthansa shares stood at The Jet Airways board met in Mumbai on Tuesday and agreed to a series of measures they hope will rebuild the business. The board announced the appointment of former Air Seychelles CEO Cramer Ball as the new CEO. There can be no short-term solutions.

The changes required will take time to implement. Investors are hoping Etihad will help recapitalize the airline. We are a long-term strategic investor and [are] committed to supporting Jet Airways as it re-engineers its business to achieve sustainable profitability.

The opportunities and benefits for both carriers are enormous. Competition is likely to get tougher as two new airlines expect to launch in the next year. CEO Sertac Haybat said how to make money origami ring first quarter of the year is always a difficult one for LCCs. The long-haul, low-cost affiliate of the AirAsia Group said that, despite a As new capacity typically takes 12 months to reach breakeven, we expect to see yield improvement and an earnings turnaround in the second half of this year, after the seasonally weakest second quarter, and taking into account the aviation industry starting to stabilize its capacity roll-out.

First-quarter operating revenue was THB Thai said the losses were mainly driven by the dramatic slowdown in visitors to Thailand. This quarter it reported carrying 4. MRPKs were down Load factor fell 9. Yield was down 1. The firm attributed it to "tough operating conditions" and "negative sentiment". Investors shrugged off the news with shares rising 2. The airline said favorable cost development created a slightly improved operating result in a difficult market environment foreign currency exchange victoria street high pressure on capacity utilization; yield was slightly better than the previous year.

Revenue per ASKs fell to 6. Airberlin said it was able to reduce costs per ASKs by 8. Airberlin said its cost-cutting Turbine turnaround program demonstrated tangible effects in the first quarter.

The oneworld member will receive support from external consultants to develop a viable and sustainable business model and a detailed plan for its implementation.

Abu Dhabi-based Etihad Airways, which owns a The company said the results were due to non-recurring costs related to fleet restructuring. The company had previously warned that 21, weather-related flight cancellations during the three-month period ended March 31 would negatively affect its financial results.

The company said the results were due to continued progress with its SCORE results-enhancement program. The airline said that, despite strong growth in passenger numbers and a high load factor, the additional costs of wet-leasing replacement aircraft on long-haul routes, as well as a weaker Norwegian currency had adversely impacted results.

Total revenue for the first quarter was NOK3. The Singapore-based low-cost carrier group incurred a net loss of SGD million USD million in the year ending Mar compared to a loss of SGD45 million USD36 million the prior year. Market conditions in Singapore have become challenging with excessive capacity levels provoking a reduction in yields and load factor. Tigerair Singapore reported an operating loss of SGD59 million USD47 million in FY compared to a foreign currency exchange victoria street of SGD57 million USD46 million in FY The situation at its Indonesian affiliate is particularly challenging, prompting the group to look at divesting its investment in Tigerair Mandala.

Aer Lingus does not release net profit figures for its quarterly filings. CEO Christoph Mueller said the threatened strike, over a long-running pension dispute, had caused numerous flight cancellations, forcing the carrier to hire replacement aircraft. The strike was called off shortly before it was due to start.

Operating expenses were MXP3. Operating revenue was up 7.

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However, sales growth in each business segment, operating income, recurring profit and net income were all down compared to FY Operating expenses were up First-quarter consolidated passenger revenue decreased 2. Weather-related cancellations reduced first-quarter consolidated Forex czy da sie na tym zarobic by 1.

Put another way, this is the equivalent of not flying for seven of the 90 days this past quarter. Adverse weather conditions during the quarter drove the decreases, United said. We are committed to expanding our profits this year and to improving our profitability each year after that. He did not give an exact figure for the anticipated loss. Check on the binary options trading strategy software numbers in March alone dropped almost 21 percent from the same month a year ago to 1.

The number of seats sold in the first quarter also fell to Thai Airways, the country's national carrier, posted a third successive quarter of losses in the fourth quarter after a falling baht hit revenue and anti-government protests deterred foreign tourists, especially from China, Japan and South Korea. This category is applied to companies with plunging cash flow and increasing net debt, the Sydney Morning Herald reported. Mr Jamieson also said that the airline was facing higher debt because of trying to upgrade its fleet, while higher fuel use reduced cash flow.

Qantas has on average reduced the age of its fleet by 7. Freight operations benefited from the enhanced capacity world forex robot contest by a block space agreement with DHL between Muscat and Dubai.

The carrier, which is growing rapidly in an attempt to achieve critical mass, will take delivery of the first wave of 20 new aircraft later this year. Oman Air plans to spin off several aspects of its activities into separate companies as the carrier continues to expand.

Therefore, Oman Air has planned to spin them off into separate legal entities beginning with ground handling and cargo handling businesses. They would continue to operate within an Oman Air Group. Total passengers in came to Fourth-quarter revenue gained Virgin Australia chief executive John Borghetti said the Australian aviation market continued to be impacted by significant capacity growth which occurred last year.

The result comes after a turbulent start to which has seen the resignations of both the chairman and president. The baht also fell against the dollar and yen - which, with the euro, account for 75 percent of revenue - due to nasdaq stock market holiday schedule for the economy following the anti-government protests. The protests also led to a slowdown in visitors just as the airline had increased capacity with the delivery of new planes.

The result was a fourth-quarter net loss of 5. For the full year, the airline booked a net loss of 12 billion baht, which compared with a profit of 6. Shares in Thai Airways closed down 1. The release was initially scheduled for Feb. Losses over a nine-month period swelled to RMmil compared with a loss of RMmil reported over the same period last year.

Russian news portal AEX. Established inMoskovia Airlines is based at Moscow Domodedovo and provides regular and charter passenger and cargo flights throughout Russia, as well as to other countries in Europe, Asia, and Africa, using a fleet consisting of a B, a B and two SSJ s.

It is currently still operating. The Mumbai-based airline had reported a profit of Rs million in the same period last year. It has been unable to shake off the impact of high fuel costs and pressure on fares brought on by competition. Jet CFO Ravishankar Gopalakrishnan said the losses were lower because of improved passenger yields and sustained market share. Management said it expects the current quarter January to March to be muted in terms of passenger yield and seat factor.

Transportation Ministry director general for air transportation Herry Bakti Gumay said in Jakarta on Saturday that the airline would no longer be allowed to fly from Monday next week. During the savage axis stock aftermarket process, the company will be run by the current management team led by Nicolae Petrov, under the supervision of an appointed insolvency administrator.

Operations will continue, although the winter season schedule will be restricted to profitable flights only, according to local reports. SIA said this third-quarter downturn was largely due to exceptional items, including an impairment loss on four surplus freighters that have been put up for sale, settlement of penalty payments in the US and Switzerland, and share of losses resulting from its increased shareholding in Tiger Airways.

The South Korean flag carrier is reporting a fourth-quarter net loss of KRW58 billion, a difference of KRW million from fourth-quarter net profits in Fourth-quarter operating revenue slipped 0. Cargo demand fell 5. Krohn Air is a virtual regional airline. It was founded in in response to the setting of flights into smaller Norwegian cities by SAS.

With a leased BAe Jetstream 32 she was still flying at the end of three destinations in their home country. They served the goals Alesund, Molde and Trondheim. But on Tuesday February 4 presented a Krohn Air all their flights. At the same time the company filed for bankruptcy. The aircraft had the Dutch AIS provided that wants to expand into Germany. News reports state that Bahrain Air on the verge of bankruptcy. Hundreds of Bahrain Air staff who lost their jobs when the airline went into voluntary liquidation are unlikely to receive severance packages with the company allegedly about to file for bankruptcy.

Millions of dinars owned to companies will also have to be written off as the carrier changes its legal status, said a report in the Gulf Daily News GDNour sister publication.

The revelations come almost a year after the airline went into voluntary liquidation, with the loss of jobs. A lawyer arguing on behalf of former Bahrain Air staff told the GDN the courts had already informed people with cases against the airline that it will file for bankruptcy within weeks.

The Irish LCC said losses were in line with its previous guidance and due entirely to lower fares and a weakness in the sterling. SAA announced a pre-tax loss of R1. Fuel costs had the greatest impact on long-haul routes where the existing fleet was fuel inefficient. Management did not receive any salary increase for the year, while pilots received 7. The airline group - which comprises Tigerair Singapore, Tigerair Mandala, Tigerair Philippines and Tigerair Australia etrade sweep account options said the disappointing result was largely attributable to SGD The group also recorded SGD Operationally, revenue declined Overall, the group reported a Q3 operating loss of SGD8.

We recorded exceptional charges on losses from associates. Consequently the disposal of Tigerair Philippines will put us on a better footing going forward. We continue to address these challenges even as the macro environment remains difficult.

A two-notch downgrade is uncommon, and leaves US carrier Southwest and Air New Zealand as the only airlines Moody's rates investment grade.

Flights were abruptly suspended Thursday, how did the northern colonies make a living passengers in Port-au-Prince, Haiti and in Miami. Falcon Air, which had been leasing a seat aircraft and six crew members to Haiti Aviation for thrice-weekly flights between Miami and Port-au-Prince told the airline Wednesday night that it would no longer provide the plane and crew.

When Nelson Ramiz Jr. But the financial dispute between Voigt and Ramiz is quite real. Staff did not comment on the decision as they left a meeting at Brindabella Airlines' offices on Monday morning, with some embracing and bursting into tears.

Receiver Sebastian Hans said the reaction from staff had been "a mix of high emotion and sadness" but that this suspension would be a matter of days, not weeks. According to AustrianWings, the Slovak carrier has not operated any actual revenue flights, scheduled or charter, since November 20, with all staff having now been laid off. The airline's fleet of three ATRs will also be put up for sale.

Parent VR Jet VRJ, Bratislava has not been affected by Danube Wings' termination of operations. Its reported that the start-up failed to raise adequate capital for its operations. The downgrade could increase the airline's borrowing costs and sends a warning to investors. The airline, which served airports including London's Stansted from its base at Tirana International, said that it would now "start a process of restructuring aiming to return with lower prices and quality service in the Albanian market".

It added that it would invite Albanian and foreign investors "to be part of the revival of this success story of an Albanian born business". The news leaves just British Airways offering direct, non-stop flights between London and Tirana, with a three times-weekly service operating from London Gatwick. Belle Air said that customers holding a valid ticket would be able to purchase "a new ticket at a special adjusted price" from Italian carrier Blue Express.

The airline, controlled by media baron Kalanithi Maran's Sun Group, had reported a loss of Rs crore in the year-ago period. The airline's previous biggest loss was Rs crore in the September quarter of FY The airline, which has been headless since late July after CEO Niel Mills quit, in a late night media statement said its income rose marginally to Rs 1, The finance cost rose to Rs The airline attributed the record high loss to higher fuel prices, which accounted for 56 per cent of the total operational expenses, up from 54 per cent in the year-ago quarter.

A weakening rupee against the US dollar, coupled with a massive spike in aircraft maintenance cost that jumped to Rs 78 crore in the reporting period added to the airline's woes.

The company said it did not pay any tax in the reporting quarter against Rs 6. In a statement, the Lufthansa Group said the results were adjusted for restructuring and project costs and positive non-recurring effects. Kristiansand-based Flynonstop launched operations April 25, serving a range of European destinations including London City, Barcelona, Berlin, Nice, Palma, Paris and Parma. It had logged Rs Jet Airways Group operates more than flights a day with its two brands, the full-service Jet Airways and the low-cost JetLite.

The consolidated losses were much higher at Rs On its own admission, the Tanzanian market is too small to sustain the company and international expansion is critical to its longer term survival. Walsh, the chief executive of British Airways parent International Airlines Group IAGsaid: There is little value in acquiring these companies, so the next phase of consolidation will be carriers going out of business. In their submission, the employees argued that the airline declaring bankruptcy was the only way for them to recover any of the monies still owed to them after having gone for more than two months without being paid.

The onset of DAE's financial woes first surfaced in May when USD20million in remittances was reportedly frozen in Venezuela after authorities there moved to block the airline from operating to the country citing alleged safety oversights.

The company cited a range of factors for the loss, including the difficult economic and competitive environment, significant one-off restructuring and transformation costs, and the government's carbon tax. The carrier operates as two separate companies, Jet Airways and Jetlite.

Operating results were down Expenses in connection with the SCORE program also depressed earnings of the past six months further on a one-off basis. First-half total revenue fell 0. Fuel costs declined 2. ANA Holdings said the primary reason for the increase in operating expenses was a rise in fuel costs due to the weakening of the yen. Operating revenues were also affected by the suspension of Boeing services for part of the period. The loss follows a FY net profit of KES1. Higher financing costs for its fleet renewal program also contributed to the overall net loss.

The business environment is tough. It didn't describe those items. Chief executive Craig Kreeger said: The airline said the results were due to one-off charges; however, its Turbine restructuring program is beginning to yield results. Revenue rose by 0. IAG CEO Willie Walsh said that much of the exceptional expenditure was incurred in the restructuring of heavily loss-making Iberia.

The company cited expenses for severance pay and compensation as part of the SCORE job cuts, as well as impairment losses and valuation effects, for the results. Its full-year earnings outlook for the year remains unchanged. However, the airline said the performance exceeded management projections. Operating expenses grew 2. It does not release net profit figures in its quarterly reports.

The airline will release its full first-quarter results May 3. Tourism is vitally important to the Greek economy and Aegean reported that its close focus on inbound leisure passengers resulted in improved performance on its international routes. The company issued a stark warning that its future hangs on the success of its restructuring plan. The Sarajevo-based carrier is solely owned by Bosnia's autonomous Muslim-Croat Federation, after Turkish Airlines pulled out of a joint venture in June last year and handed its percent stake over to the government.

Last month the bank froze the airline's accounts over an unpaid 5. Bijedic said BH Airlines had deposited collateral of roughly the same amount with the bank. The bank confirmed in a statement that it had frozen the accounts of BH Airlines because of significant outstanding debt and delays in the payment of the leasing loan. The company sustained considerable financial losses as a result of the unstable political and security situation in Bahrain. Agus Iskandar, presiding judge at the Jakarta Commercial Court, said a bankruptcy petition filed by U.

Flights abruptly stopped just after midnight, stranding hundreds of passengers across the country. Air Malta, which is going through a major restructuring process, said that many of the restructuring costs were one-off charges.

V would not agree to support a restructuring program. In Decemberthe carrier announced plans to temporarily suspend 12 routes from German regional airports from early January. It attributed the route changes to high fuel prices and expectations it could not meet its year-end forecast.

A spokesperson said more information would be released in the near future. The carrier was purchased by Dutch financial investor Panta Holdings last summer after Polish-based Amber Gold sold its investment. The carrier operated a fleet of Fokker s, Saab s and a Saab A.

Flight VV which left for Copenhagen was the last Aerosvit Airlines flight before they stopped their operation. According to ukranian newspaper delo. The court has appointed Leonid Talan as the Airlines Insolvency Administrator. Aerosvit Airlines had operated a fleet of 31 aircrafts 28 active, 3 stored with an average age of Wednesday's results were largely weighed down by one-time costs linked to its new restructuring program and compared with a previous annual loss of million kronor.

SAS has changed its financial year to November to October to better correspond with its internal procedures. The Stockholm-headquartered group, which hopes to save 3 billion kronor a year through the cost cuts and raise the same amount through the sale of assets, says it expects to report a pretax profit in its current financial year. It warned however, that the first quarter is looking "extremely weak. Also, the airline said it could not meet new requirements that took effect last month requiring Russian airlines using aircraft with larger than 55 seats to have at least eight aircraft of the same type.

At the beginning of last month, Kuban stopped using its Soviet-built fleet. The carrier had to return three Airbus As to its lessors due to its inability to pay. InKuban Airlines carried nearlypassengers. Both airlines belonged to investment company Basic Element. The airline blamed high oil prices and the strength of the US dollar against the euro, as well as persistent weakness in domestic demand. Australia's second-largest airline has also expanded its code-share alliance with Singapore Airlines to cover more destinations in Australia, Asia and Europe.

Virgin has not issued specific earnings guidance but told shareholders at its annual meeting in Brisbane on Tuesday that it expects the negative consumer sentiment to persist over the short to medium term.

This was a sharp drop The airline said the results were due to weak passenger demand, depressed yields, high oil prices and unfavorable exchange rates. KQ chairman Evanson Mwaniki said the six months to Sept. He said the economic downturn in Europe and high fuel prices had hit passenger traffic, as had travel advisories that negatively impacted the Kenyan market in the wake of tourism security breaches. In the first half, KQ recorded an operating loss of KES5.

Weak demand coupled with increased competition forced passenger yields down 2. The airline, which operated flights within South Africa, said in August it had launched a turnaround plan to right its money-losing business.

Trading in its shares - which have lost 87 percent of their value this year - would be halted, the company said.

Local media reported that hundreds of passengers were left stranded after the airline cancelled all its flights at 3: Its total liabilities at the time came to million rand.

AF-KLM is in the process of changing its year end from March 31 to Dec. The group provided pro forma figures for the nine-month period. The airline pointed out that costs associated with its Chapter 11 bankruptcy restructuring were the main driver of the loss.

In releasing its earnings, AA attempted to paint a brighter picture of its current state compared to the serious operational and labor problems it has experienced recently.

But Iata highlighted how in July, the number of passengers travelling first or business class over the north Atlantic fell by 2. Russian state corporation Rostechnology had originally transferred five carriers to SU, but after the deal it sold Saratov-based Saravia Airlines.

SU representatives added that the integration is not complete. SU has reported it will create a special structure to monitor and coordinate the financial and operational performance of all group participants. High oil prices and the weakened euro against the US dollar made the situation worse. The warning came from Iata against a backdrop of economic uncertainties which saw demand fall in July across the globe with the exception of Africa, the Middle East and domestic services in China.

The slowdown in travel growth is being driven largely by the recent fall in business confidence in many economies. But Qantas unions attacked the loss, with the Transport Workers Union and the Australian Licensed Aircraft Engineers Association both calling for top management to stand down and the pilots association accusing Qantas of reducing its full-service international operation to "a husk".

Revenue was marginally up at SEK Passenger numbers rose 4. In the three months through June, Germany's second-biggest airline after Lufthansa posted a net loss of Air Berlin, which has not posted an annual operating profit sinceis trying to shrink its way back to profitability after growing rapidly and racking up debt.

Revenue grew by 9. A press release from the company said that the causes of the disappearance of its regular operations, starting August 1st, are the financial crisis in the region and the lack of support from neighboring countries, in allusion to the sanctions imposed by Mercosur and Unasur. These things are limiting our growth and causing irreparable economic damage, said the airline. Formed inthe airline carried 5. We wish to inform you that a decision by the Civil Aviation Authority means that as of July 27, OLT has had its operating licence revoked with immediate effect.

Passengers and holiday makers only learnt of the cancelations upon arriving at the airport, with the news being displayed on official information boards. Steep foreign exchanges losses and interest expenses helped push KE into the red for the three months ended June Company president Fernando Pasadores made the announcement in a radio interview on Friday. Pluna executives said the next step would likely be to liquidate the company, which was taken over by the state last month.

The state had originally owned 25 percent of shares, but took control of the company after the withdrawal of private consortium LeadGate, which owned 75 percent. Rising fuel costs and previously incurred financial obligations were cited as reasons for the poor results. Revenue dipped to CZK Costs declined to CZK OK is in the middle of a three-year restructuring plan. All flights are cancelled as of Tuesday evening, 26th June In a brief statement on its website, the leisure airline expresses deep regret for the harm caused to its customers by the sudden announcement.

According to STT, the Finnish News Agency, there are now around 1, Air Finland customers abroad. The industry attributes the reversal to the slowdown of domestic market demand and exchange losses resulting from yuan depreciation. The Barbados-based carrier had suspended operations in March after competition from other airlines put it severely in the red. Attempts to get financing from the Barbados and Guyana governments failed and the airline remained grounded. Group revenue increased 3.

Jim French, chairman and chief executive, said: However, Flybe today is a business of real scale and substance, and one which has again demonstrated its resilience.

A few months ago, an oil price crisis was the biggest risk. It's highly likely you're going to see them needing capital very shortly. A3 managing director Dimitris Gerogiannis said demand for domestic and international air travel continued to suffer in the first-quarter as a result of deteriorating economic conditions.

CF was acquired by JZ last November. QI filed for bankruptcy earlier this month. JZ operated out of Stockholm with a fleet of 12 Fokker 50s, two Saab s, one Saab and one Bae CF operated out of Gothenburg with seven Embraer Es, two Es and one MD The Swedish Pilot Assn. Chin Yau Seng, Group CEO, of Tiger Airways said that the losses stem from the six week suspension of its Australian operations last July.

The Australian civil aviation authorities had grounded Tiger Airways Australia over safety concerns, and even after it had lifted the ban, the Tiger Airways Australia was restricted to a limited number of flights.

Losses were also attributed to rising fuel prices. It has now been called off. The drop came despite a The Emirates Group, which includes airport and airline support company dnata, recorded net profits of AED2. Group revenue was up The firm, which is listed at the Hong Kong stock exchange, fell 5. Cathay said Wednesday there was "no sign of a sustained recovery" in its cargo business due to rising fuel costs, and that its financial results scheduled to be announced on August 8 "are expected to be disappointing".

The airline also cut its capacity growth forecast from the original seven percent to two percent, and said it will reduce the frequency of some long-haul routes to North America and Europe to ease outlays.

Other cost-cutting measures would include the earlier retirement of older aircraft, deployment of more fuel-efficient jets, a ground staff hiring freeze and voluntary unpaid leave for cabin crew.

The firm in March reported a 61 percent plunge in its net profit for and has warned that could be "even more challenging" than The Group said the results were largely in line with expectations, with the rise in fuel costs outstripping a 5.

The airline, whose parent sold control of the maintenance provider inwas required to pay severance to as many as 1, workers. Lufthansa, which is due to publish its full earnings report on Thursday, has vowed to make tough cost cuts and restructure its loss-making Austrian Airlines unit to return to profit amid economic uncertainty and high fuel prices. SAS has been struggling for years with higher costs than no-frills competitors Ryanair and Norwegian Air Shuttle. The airline, half-owned by Sweden, Norway and Denmark, made a pretax loss of SEK1.

In August last year, Mansvell Enterprises, an investment vehicle of Ukrainian businessman Igor Kolomoisky, offered to buy out Cimber's minority shareholders for DKK1. The offer for minority shares followed Mansvell's acquisition of a Cimber Sterling, a small rival to Scandinavian airline SAS, Finland's Finnair and Norwegian Air Shuttle, among others, was hit by fierce competition between low-cost carriers and rising costs when it expanded beyond its home Scandinavian region.

A court will appoint one or more administrators for the bankrupt airline, Cimber Sterling said, adding that it would work with them to try to preserve as much of the operations as possible under a reconstructed company. But Cimber Sterling said passengers tickets were "worthless" and the airline's website said all flights were cancelled.

It blamed the poor results on costs associated with the ongoing integration of United Airlines and Continental Airlines. Operating revenue increased 7. CZ posted a first-quarter net income of CNY million, down Operating revenue climbed Neither carrier released first-quarter traffic figures. Industry analysts also cited market demand slowdown as the main reason for the results. The chief executive of International Airlines Group joined the head of Dubai's Emirates and other industry leaders in predicting further retrenchment, as weaker airlines struggle to generate the cash needed to ride out high oil prices.

Although some airlines like IAG itself are expected to gobble up smaller rivals, Walsh said the shake-up would also include "probably the cheapest form of consolidation for the industry and that is where we see airlines fail". About half a dozen European airlines have folded in the past year including Barcelona-based Spanair which stopped trading in January despite a cash injection from the Catalan government. Walsh delivered his comments with a warning to striking Spanish pilots that Iberia would "have no future" if it did not see through reforms that include the creation of low-cost Iberia Express, designed to replace labour rules at the main carrier.

Spanish pilots are staging a series of strikes to try to halt the creation of the cheaper sister airline. Walsh, who led BA to a merger with Spain's Iberia under the umbrella of IAG last year after a bitter series of cabin crew strikes in the UK, said he would not back down on the move to get rid of pilot contracts he called "frankly outrageous". In further blunt comments, Walsh said IAG would close two loss-making subsidiaries inherited from the acquisition of Lufthansa's UK unit bmi if it is unable to sell them.

IAG plans to keep the main bmi airline, but is struggling to sell its low-cost and regional units, bmibaby and regional. It meanwhile continues to seek acquisition targets. We are not looking to consolidate just to make IAG bigger," Walsh said. They also pointed to increasing global economic uncertainties and political turmoil in Middle East for the forecast downgrade. MU expects its first-quarter profit to drop by more than half from CNY1.

CX said it may have to park aircraft and reduce the number of flights if weakening demand and high fuel costs persist, according to Dow Jones. The Hong Kong-based carrier, which had already warned of a very challengingsaid business has worsened over the last month with falling passenger yields for its economy-class products as well as its more profitable first- and business-class cabins.

Securities and Exchange Commission. The report summarizes AMR's business and financial results for the first quarter ended March 31,on a consolidated basis. Industry analysts said market demand started to pick up in April with continuous domestic economic growth and slow global economic recovery but rising fuel expenses still remain a major challenge.

Analysts said that fuel surcharges revenue, which was CNY1. While the airline has made no official announcement, its website remains inaccessible and its Bolivan call centre unreachable.

An employee at Aerosur's Madrid office confirms that the airline is "not operating" and "is not paying employees and providers", which forced the airline to cancel its 31 March evening departure to Santa Cruz and ground its aircraft in Madrid. Bolivia's Minister of Public Works, Vladimir Sanchez, confirmed on Bolivian TV that the airline had ceased operations. He denied reports that the Bolivian government had forced the grounding. Sanchez confirmed that Aerosur's tax debt amounted to 1.

This has so far prevented the government from impounding Aerosur accounts or goods. The actual debt, including interest, fines and debt with banks and providers, could vastly exceed this amount.

We will do what we can to help the airline to be able to help itself, but they [Aerosur] will have to develop their own rescue plan. In a filing with a U. It also seeks to implement a turnaround plan by cutting costs and restructuring certain agreements with major airlines. Net revenue rose The airline said the loss was due to the impact of the real's depreciation against the dollar, rising fuel costs, and non-recurring expenses such as the return of aircraft and contract termination fees.

Profit fell to 7. Air China warned it will face "new challenges and greater pressure" this year due to slow growth in the United States and Europe, high operating costs and constraints on infrastructure and staff resources. Fuel costs in rose 44 percent over the previous year to VP-finance Nissim Malki said that "was yet another challenging year for world civil aviation in general and especially so for El Al.

They also said that the Kingfisher Airlines is in the process of providing an inter corporate guarantee for crores of airport dues pending for over 6 months. But if they are not able to do then we will have to ground their aircraft, AAI sources said. The minister said the onus to save Kingfisher Airlines was on chairman Vijay Mallya. The onus is on him," Singh said. Kingfisher Airlines has submitted a new flight plan to the country's aviation regulator and will operate up to daily local flights with 20 planes, chief executive Sanjay Aggarwal said on Tuesday.

Kingfisher, which is scrambling to raise funds as banks have refused to lend the debt-laden carrier more for day-to-day operations, will discontinue all international operations by April 10, Aggarwal said after a meeting with the regulator. Vijay Mallya had been summoned to meet the DGCA Bharat Bhushan in New Delhi to explain the airline's current situation and discuss a revival strategy.

I would not like to speculate more," Bhushan said. The regulator continues to examine each Kingfisher flight for safety," Aviation Minister Ajit Singh told reporters. The carrier has cancelled nearly half of its flights due to a strike by pilots and its financial difficulties, running around flights a day instead of its scheduled The pilots are on strike over unpaid wages. Kingfisher now operates 18 planes, Singh said, down from 28 last month.

Before its cash squeeze, Kingfisher operated 64 aircraft monthly. Several factors prevented a more significant downgrade: Airline performance is closely tied to global GDP growth. Historically, when GDP growth drops below 2. In explaining the deepened loss, the carrier cited taxes, high fuel prices, Europe's severe winter, the Arab Spring and air traffic control strikes and strike threats.

AB's revenue increased by The Barbados-based air carrier which commenced flying to Jamaica last November announced on Friday March 16 that it had suspended all its flights. REDJet's Chief Executive Officer Ian Burns declined to say when flights would resume. The airline will reportedly issue a statement on Monday March REDjet has complained that it does not receive Government assistance like other carriers, some of which have drastically cut their fares in an effort to force it out of business.

It stated that despite these efforts, its passenger numbers have continued to rise but it cannot continue to operate under present conditions. Fuel costs rose The Berlin-based airline had a net loss of The average loss estimated by analysts surveyed by Bloomberg News was million euros.

Air Berlin, which is almost 30 percent owned by Etihad Airways following a deal in December, paid Targeted savings of million euros will all be implemented this year, while occupancy levels approached 75 percent in January for the first time since the company began keeping monthly records, it said. The airline warned of a "challenging" outlook for as it posted a profit of 5. Cathay said high prices for jet fuel - its single biggest cost - had a "significant effect" on operating results. High fuel costs hurt profitability at its air cargo division, as fuel surcharges weren't enough to cover the gap.

On a pro forma basis for the full year, Jan. All the announced actions are already underway. Mr Spinetta resumed his former role as chief executive in October when Air France-KLM shuffled its top management in response to its challenges. To preserve cash, the group announced it was cutting investment in its aircraft fleet. Mikhail Bagdasarov, the owner of the Armavia airline, said it can no longer afford what he called exorbitant fees charged by the Zvartnots management for airport ground services.

Due to the suspension, all travel and ticketing agents and general sales agents will remove GMG Airlines' ticketing authorities from their systems. The BSP travel agents will also stop all ticketing and refund transactions through the BSP link. Industry insiders said the suspension will be a huge setback to the country's first private passenger airline as its payments using the BSP link and ticket sales in different countries will come to a halt.

Fourth-quarter operating revenue was up 7. The carrier also confirmed that the losses for the financial year were the largest in its history. The airline reported a massive net loss of RM1. Ahmad said that the losses were due to higher expenses including a 25 per cent increase in fuel expenses and a 50 per cent increase in non-fuel expenses. At the same time, the airline said it was drafting an action plan that included an increase of share capital and cutting labour costs, in a bid to secure its viability.

Efforts to find a strategic investor will continue, it added. The government, which owns 70 per cent of the airline, has said it wanted a strategic investor who could potentially assume a majority stake in the company.

Cyprus Airways said results reflect stiffening competition in its major markets and higher fuel costs. The airline failed to secure a rescue plan, AFP reported Friday. We are grounded indefinitely," UM CEO Innocent Mavhunga told AFP.

Some staff will be made redundant, others will not be replaced when they leave, and more will not get their contracts renewed. It is paying the price of high fuel costs and weak demand in international markets like Japan and Europe.

Air New Zealand chairman John Palmer says he is not happy about the situation.

Advantages and Disadvantages of Options

The board will meet on Feb. The government, which owns 70 percent of the airline, has said it wanted a strategic investor who could potentially assume a majority stake in the company. Cyprus Airways said results would reflect stiffening competition in its major markets and higher fuel costs. It would also feature a non-recurring expense from a redundancy scheme, and one-offs in income including a slot exchange at London Heathrow and profit from the sale of an aeroplane and three engines.

It seems, however, that Velvet Sky Aviation may be grounded indefinitely. All flights were cancelled on Thursday, with the airline facing provisional liquidation proceedings by BP Southern Africa, brought before the Pietermaritzburg High Court on Friday. The company has failed to pay an undisclosed amount it owes the fuel supplier.

This comes amid a financial dispute between Velvet Sky and SAA Technical that led to all flights being cancelled on Thursday and passengers being stranded in Durban, Cape Town and Joburg. BP spokeswoman Glenda Zvenyika confirmed that the fuel company had begun liquidation proceedings against Velvet Sky for money owed for fuel. She said BP had to suspend supplies to Velvet Sky in January because of non-payment. Passengers whose flights had been cancelled would be reimbursed.

SkyWest did not provide pro forma figures. LOT said the loss was mainly due to high fuel prices, lower fourth-quarter passenger traffic and a rapid increase in the dollar exchange rate at the end of the year. LOT forecasted a PLN Voluntary administration in Australia is similar to bankruptcy protection in the US, and can buy a company time to trade out of its financial problems. The Mumbai-based airline reported a loss of Rs Sales declined by President and CEO Calin Rovinescu conceded to analysts and reporters that the carrier's current financial situation is untenable, necessitating change.

But the labor situation, including the Air Canada Pilots Assn. The carrier is attempting to collectively bargain new labor deals with nearly all of its work groups. Rovinescu said he is "optimistic" AC can solve its labor problems through "negotiations" and avoid service disruptions. He noted that "pension reform" remains the "main challenge" in talks with unions. The loss was 2. The loss was wider than the 1. Fourth-quarter revenue rose Tas-Air told its employees yesterday and flights have ceased.

Tas-Air offered flights to Hobart, Devonport, King Island, Burnie and Melaleuca. A spokesman for Mr Tenbensel said one of his first tasks would be to determine why the business failed. Prime Minister Viktor Orban told Kossuth radio on Friday that the decision to ground Malev, which was placed under creditor protection earlier in the week, was made after two aircraft were not allowed to take off from Tel Aviv and Ireland.

In a December white paper, the government said the potential loss of the airline, which spent about 50 million euros a year on air service charges and real estate fees, could jeopardise the operation of Budapest Airport. The airline accounts for 40 percent of turnover at the airport, owned by Germany's Hochtief and four financial partners.

It was not immediately clear whether Malev's halt would automatically trigger a compensation option in the privatisation agreement of the airport first signed in with BAA, which sold it two years later to its current owners. In the white paper, the Development Ministry had said the state could be required to pay about 1.

The ministry and Hochtief could not immediately respond to Reuters questions on Friday regarding the agreement. Malev said its suppliers had lost confidence and started to demand advance payment for their services, while the government could no longer provide cash injections for the company following a European Union ruling last month.

The airline, known as SIA, warned a slowing global economy and high oil prices could continue to undermine profits this year. It was the Singapore-based group's third straight quarterly loss. TAG reported that group passenger numbers were down 12 per cent while capacity fell 2. The suspension in July last year led to a major management shake-up in the airline, which is partially owned by Singapore Airlines and government investment arm Temasek Holdings.

Negotiations are under way with Welcome Air to either take over the carrier or form a new one. Welcome Air CEO Sabine Mertens told reporters he was not able for comment. The warning is likely to surprise investors after the airline, which is 26 per cent owned by AirFrance-KLM, posted a 38 per cent jump in half-year pre-tax profit, aided by growth on its African and Asian routes.

The company said however that the effect on its "liquid assets" would amount to between and million kronor. SAS, which sold off most of its once wholly owned subsidiary Spanair insaid it still owned But it stressed "the value of these shares has already been written down and are booked at zero value.

The write-down would "have a limited effect on SAS liquidity", it said. SAS, which posted a slim profit in the third quarter, is scheduled to announce its results for the fourth quarter and full-year on February 8.

The company said Friday that, not including the write-down and other non-recurring items, it expected the full year result to be positive. Its last scheduled flight landed at 10pm, leaving rivals such as Iberia, Vueling and Easyjet to share out the passengers left stranded by the airline, which runs flights within Spain and Europe. Spanish media said at least 22, passengers were affected over the weekend but Spanair spokespeople were not immediately available to confirm this.

The airline operated charter flights from Gran Canaria, Lanzarote and Malaga to Dublin during the summer season. A queue of surprised passengers formed at Spanair counters at Barcelona airport yesterday evening shortly after the announcement. By this morning airports authority AENA said the situation was normal at Madrid's Barajas airport and Barcelona's El Prat, where special lounges had been allocated for Spanair customers.

She said 55 Spanair flights were scrapped at Madrid and 54 at Barcelona today alone, with a handful of flights cancelled at Palma de Mallorca and Gran Canaria. The company said in its statement: Czech Connect Airlines' network was predominantly focussed on scheduled services to Russia and charter services for travel agencies to summer destinations. German Aviation Authority Luftfahrt-Bundesamt said the financially troubled carrier was not permitted to transport passengers and freight on a regular air services basis.

C9 said that all employees are still working but it is unclear if and when the carrier will restart operations. He indicated that TG might report a loss for given the decline of both local and international passengers. In the first nine months of the year, TG reported a net loss of THB4. Passengers carried increased year-on-year 4. The figure remains unchanged in IATA's latest industry outlook. So far aviation has been relatively optimistic about its prospects as Europe teeters on the edge of recession, with rising demand in Asia and capacity restraint in North America seen boosting profits and driving talk of a two-speed market.

But IATA, whose members include the likes of International Airlines, Lufthansa, Air China and American Airlines, said it could not ignore growing economic risks. American took this action in order to achieve a cost and debt structure that is competitive in the airline industry so that it can continue delivering a world-class travel experience for its customers.

American expects to continue normal business operations throughout the reorganization process, and the business will continue to be operated by the Company's management. The United States Chapter 11 reorganization process enables a company to maintain normal business operations while it establishes a competitive cost and debt structure. This action has no direct legal impact on any American Airlines operations outside the United States. American Airlines is operating normal flight schedules, honoring tickets and reservations as usual, and making normal refunds and exchanges.

Analysts said the move threw into question the future of the year-old firm, which provides holidays for 19 million customers each year and employs 30, staff. The company has been hit hard by tough trading conditions, especially in Britain, where its core customer base of families with young children has been particularly affected by tough economic conditions. It was also hit by unrest in popular destinations such as Egypt, Tunisia and Morocco.

Evolution's James Hollins said it was shocking that Thomas Cook needed to renegotiate its financing just 32 days after a previous deal with its lending banks. Shares in Europe's second-biggest travel firm by holidays sold, were down 75 percent at In debt markets, Thomas Cook's million pound and million euro bonds were trading at less than half of face value while its million and million pound credit facilities were being quoted at percent of face value and looked set to drop further, according to traders.

Espirito Santo Investment Bank advised against holding Thomas Cook equity at any price. Sharma also said Thomas Cook's suppliers and Britain's Civil Aviation Authority could take a closer look at the viability of allowing bookings from Thomas Cook, which had issued a string of profit warnings this year.

The company did, however, see a big year-over-year rise in expenses and swung to an operating loss as well. It said the net loss "was mainly due to the appreciation of the [US] dollar," which increased The court will decide whether SeaFrance, which has been in administration since Junewill be sold or liquidated.

A statement on the company's website said the board and receivers had decided, along with the French authorities, to suspend operations from 4am today. They may be resumed after the hearing. We are conscious of the inconvenience this situation is causing and we apologise for this.

We will keep you informed of any changes in the present situation. It carries more than 3.

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