British Airways profits dive amid surging oil prices
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British Airways (BA) announced a 40-percent fall in third-quarter profits after being hit by soaring fuel prices.
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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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BP PLC said Tuesday its fourth-quarter profit dropped 22 percent to a two-year low, driven down by the declining price of oil and increased safety spending after a series of high-profile mishaps including a deadly refinery blast in Texas and an oil spill in Alaska. The oil company also slashed its growth targets and raised its capital expenditure forecast for this year.
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JetBlue Airways on Thursday said third-quarter earnings fell 71 percent, missing analysts&#39; lowered estimates, as it struggled with skyrocketing fuel prices, storm disruptions and competition.
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MELBOURNE Shares of Qantas Airways, Australia&#39;s biggest airline, on Thursday plunged to a 12-month low amid concern that surging fuel prices would erode earnings and after the company reported earnings that missed analysts&#39; forecasts.
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Oil giant BP Plc saw its third-quarter  profits reduced by energy trading losses after its dealers got  on the wrong side of volatile markets.
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The strength of oil prices is poised to exacerbate an airline &quot;bloodbath&quot; long predicted for this winter, Ryanair has said, announcing a profits ahead of City forecasts.
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Shares in Ryanair Holdings PLC plummeted Monday after Europe's top no-frills airline reported flat third-quarter profits and warned of tough times ahead because of high fuel costs and fears of a recession.
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British Airways blames fuel prices for a 40% drop in third quarter profits but says full-year sales will be higher than anticipated.
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Air France-KLM, the world's biggest airline by revenue, said Thursday its profit fell 39 percent in its third quarter due to higher oil prices, strikes and special items, but said its operating profit rose as it attracted more passengers.
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Oil dropped more than a dollar towards $89 a barrel on Monday as falling global stock markets spurred profit taking.
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British energy giant BP has said that net profits dipped in 2006, reflecting a decline in production and refining margins, despite record peaks for crude oil prices in the middle of the year.
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British Airways reported Friday a 22.4-percent increase in net profit over the first nine months of its financial year to 623 million pounds (1.2 billion dollars, 830 million euros).
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LONDON, November 8  - British Airways&#39; (BAI1.FSE) second-quarter pretax profits more than doubled this fiscal year, boosted by the company&#39;s effective cost reduction measures and a robust upturn in the long-haul passenger traffic trends.
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British Airways said Monday that second quarter operating profits rose 23 percent on tighter costs and higher passenger numbers as long-haul travel recovers.
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The FTSE 100 has jumped on relief over weaker oil prices, an unexpected reprieve for the economic outlook, and for big fuel consumers such as British Airways.
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Second-quarter profit fell by two-thirds at plane and train maker Bombardier Inc. (BBDb.TO) as its regional aircraft business lagged a rebound in the business jet market, the company said on Wednesday.