Airline industry seen losing up to $US4b in 2004
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MONTREAL: The global airline industry stands to incur losses of between $US3 billion ($NZ4.6 billion) and $US4 billion this year as surging oil prices wipe out any hope of profit created by rising passenger traffic, the International Air Transport
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Airlines are slashing costs and planning to eliminate jobs, admitting that they expect to post weak results in the fourth quarter and see a bleak start to 2005.
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More than 1.4 million domestic  airline flights, nearly 20 percent of all arrivals, were late  in 2004, according to figures released on Thursday by the U.S.  government.
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The global airline industry is forecast to have made net losses of $4.8bn this year, as the rise in the oil price has overwhelmed efforts by carriers to cut costs.
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Business & money: Budget airline warns that profits could fall by up to 50% next year on the back of high oil prices
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Scandinavian airline SAS, hard  pressed by low-cost rivals like Ryanair, reported a  wider-than-expected 2004 fourth-quarter loss on Thursday but  said restructuring plans would bear fruit in 2005.
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United Airlines parent UAL Corp. suffered a loss of $274 million for the third quarter of this year, a smaller hit than it took in the same period of last year, when it lost $367 million.
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The twin burdens of soaring fuel prices and slipping airfares clobbered the airline industry again in the third quarter, leaving three of the top four U.S. carriers to post quarterly losses on Wednesday.
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Business travel by air is likely to  increase by about 10 percent in 2005 after an initial recovery  in 2004 but the uptick is seen aiding mainly low-cost carriers,  a U.S. industry survey released on Thursday found.
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Soaring fuel prices and slowing economic growth are likely to wipe out much of the airline industryâs profits next year, despite steady increases in global demand for air travel.
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MONTREAL, Canada : Sky-high oil costs will keep air transport profits in the basement, with losses between three billion and four billion dollars this year, despite a pickup in traffic, the international air trade association said.
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NEW YORK -- As larger US airlines suffer growing losses, low-cost carriers, previously thought to be invincible, are not far behind, industry experts say, due to soaring jet fuel prices, low air fares, and more competition.
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The twin burdens of soaring fuel prices  and slipping airfares clobbered the airline industry again in  the third quarter, leaving three of the top four U.S. carriers  to post quarterly losses on Wednesday.
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Record fuel costs and low air fares contributed to a $274 million third-quarter loss for United Airlines&#39; parent company, which warned again that labor costs must be slashed again soon in order for it to emerge from bankruptcy.
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MONTREAL - Despite a jump of 19 percent in world air traffic this year, airlines are expected to lose as much as $4 billion in 2004 because of high fuel costs, the International Air Transport Association said Monday.
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Three airlines â Northwest, JetBlue and AirTran Holdings â posted fourth-quarter losses on Tuesday as rising fuel costs erased gains from fare increases.
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Japan Airlines said it would cut 4,300 employees, or about 8 percent of its work force, by March 2010 as part of its four-year business plan intended to improve profits. The company, which is based in Tokyo, reported a loss for the most recent quarter and is still struggling to regain customer confidence after a spate of safety lapses in recent years. The company reported a loss of 10.8 billion yen ($89.9 million) for the October-December quarter, slightly less than the 11 billion yen loss it recorded for the period in 2005. Sales rose 4.9 percent, to 584.1 billion yen ($4.9 billion). Cargo traffic from Japan to China was strong, but traffic to the United States was weak in the latest quarter.