Qantas Airways Ltd. does not expect clear skies ahead for its business and the airline industry as a whole. In its 2009 annual report, Qantas’ chairman said that the global outlook is still up in the air, and that significant improvements in fundamentals are yet to be seen. He added that a steep rise in [...]
After rallying almost 20% on Thursday following an announcement that it raised US$2.9 billion to boost its balance sheet, AMR Corporation failed to continue on that ascent yesterday. AMR Corporation’s American Airlines said yesterday that it expected lower mainline traffic as well as revenue in its third quarter. As a result of this, it will [...]
Things don’t appear to be looking up for Qantas Airways Ltd., which posted an 88% plunge in profits for its year ended June 30, 2009. Qantas saw its net income fall to AUD 123M, drastically lower than the AUD 970M it posted a year ago. Airline companies have been struggling with falling consumer demand, coupled [...]
Yesterday, Ryanair Holdings Plc reported a turnaround in its performance with a first quarter profit of EUR 123M, versus a loss of EUR 90.5M posted in the year earlier period. The Irish airline benefited from lower fuel costs as revenues were flat at EUR 774.7M for the quarter ended June 30, 2009. While many of [...]
Delta Airlines Inc., the leading global airline since it merged with Northwest Airlines in October 2008, posted a second quarter loss of US$257M or US$0.31 per share (US$0.24 if merger costs are excluded). Wall Street analysts predicted a narrower loss of US$0.29 per share excluding items. As airlines worldwide struggle to reduce costs to match [...]
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On Monday, Royal Caribbean Cruises Ltd. announced a bleak forecast, stating that it expects full-year fuel expenses to be US$0.12 per share at today’s oil prices. This is 45% higher than the Company’s previous forecast reported in April. The announcement adds to another gloomy forecast reported by Royal Caribbean Cruises earlier this month – due [...]