Airlines 'end 2004 $5bn in red'
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The world's airline industry is set to see losses of $5bn by the end of 2004 as a result of surging oil prices,  global airline body IATA predicts.
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By Kyodo News International, Tokyo  Dec. 14--SYDNEY -- Australia's Qantas Airways said Thursday it has  accepted a revised A$11.1 billion (about US$8.7 billion) buyout offer by a  consortium led by a local investment bank, a local newspaper reported.
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The Irish aircraft leasing group AWAS has ordered 75 medium-haul Airbus A320 planes, worth 5.2 billion dollars (3.5 billion euros) at catalogue prices, Airbus announced on Wednesday.
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United Airlines on Friday said it will need about USD$500 million in annual cost cuts above the USD$655 million now in the works and also received court approval for more time to develop a reorganization plan without interference from creditors.
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WASHINGTON: US airlines, after a Christmas weekend that snarled thousands of travellersâ holiday plans, will face a government review of whether they are living up to customer service commitments made five years ago, the US transportation departmentâs
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United Airlines, in a bankruptcy court filing in advance of a status hearing Friday, has revealed it needs to cut $500 million more in costs than previously stated.
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Delta Air Lines yesterday announced plans to cut up to 6,900 jobs over the next 18 months as it struggles to avoid bankruptcy. The airline is in the midst of a restructuring designed to cut $5bn (Â£2.
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Italy's flagship air carrier Alitalia plans to cut 5,000 jobs as part of restructuring efforts aimed at averting collapse, news reports and an industry source say.
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MONTREAL -- Despite a jump of 19% in world air traffic so far this year, airlines are expected to lose as much as $4 billion US in 2004 due to high fuel costs, says the International Air Transport Association.
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Air passenger numbers will grow again  in 2005 but the global airline industry will only post its  first profit in five years if oil prices drop by some $15 a  barrel, an industry expert said on Monday.
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Share prices ended the week where they have spent seven of the last nine days: in the red.
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UAL (UALAQ.OB:OTC BB - news - research) and US Airways (UAIRQ.OB:OTC BB - news - research) weighed in with hefty third-quarter losses Thursday as industry overcapacity and stratospheric fuel prices continued to generate red ink while the carriers operated
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British Airways has cut its estimate for revenue growth to 5.0-6.0 percent in the fiscal year to the end of March, citing the impact of heightened airport security after the alleged bid to bomb US-bound passenger jets.
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International airlines are heading for a near USD$5 billion loss this year, largely due to the rise in oil prices, the industry&#39;s global body said on Tuesday.
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Ryanair, the Irish no-frills airline, said on Tuesday that net profits tripled in the group&#39;s 2006/2007 financial year to a record 401.4 million euros (542.2 million dollars).
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Geneva - The world&#39;s major airlines were expected to rack up about $4.8 billion (R27.3 billion) in losses this year and would climb back to profit next year only if oil prices fell, the top industry body said yesterday.
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MONTREAL -- Despite a jump of 19 per cent in world air traffic so far this year, airlines are expected to lose as much as $4 billion US in 2004 due to high fuel costs, says the International Air Transport Association.