Fuel costs wipe out airline profit despite travel rebound
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GENEVA The airline industry is experiencing huge growth worldwide, in a recovery from several rough years after the Sept. 11, 2001, terrorist attacks and regional problems like severe acute respiratory syndrome, or SARS.
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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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Spanish airline Iberia revealed Tuesday that higher fuel costs contributed to its net profit falling by 70 percent to 116 million euros (152 million dollars) in 2006.
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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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Japan Airlines Corp. reported Friday that it returned to earning profits in first half of the fiscal year as international travel picked up from a decline a year ago caused by the war in Iraq and the SARS outbreak in Asia.
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SYDNEY: Qantas Airways Ltd, Australia&#39;s biggest airline, said yesterday its full-year profit doubled on cost cuts and a pick-up in passengers, but the prospect of higher fuel costs sent its shares sliding.
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The airline industry is expected to lose as much as $4-b in 2004 due to the high fuel costs, despite an increase of about 19% in international passenger traffic so far this year.
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The low-cost airline says rising oil costs could wipe as much as 40m euros from its profits - but vows not to bring in fuel surcharges.
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US Airways Group  posted a quarterly loss on Thursday, hurt by soaring fuel costs that have battered the airline industry.
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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.
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Continental Airlines CAL.N, the No. 5  U.S. carrier, on Thursday posted a fourth-quarter net loss,  reversing a year-ago profit, as skyrocketing fuel prices and  low-fare competition hammered the industry.
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The airline, which reported earnings for the first time since leaving Chapter 11 this summer, topped Wall Street estimates as it cut back on seats but raised prices.
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Budget airline Ryanair today announced record half-year profits, but said it remained cautious about the rest of the year. The Dublin-based carrier said profits after tax
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Improved efficiency has helped airlines better prepare for a possible global economic slowdown compared to the last major recession, but expensive fuel continues to hurt bottom lines, an airline industry group said Monday.
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Continental Airlines (CAL.N: Quote, Profile, Research) on Tuesday posted a third-quarter loss, reversing a year-earlier profit, as it was hurt by record-high fuel
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Continental Airlines (CAL.N: Quote, Profile, Research) posted a third quarter loss on Tuesday, as high fuel prices caused it to reverse course from a year ago when it was in the black.
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Irish budget airline Ryanair has hiked profits guidance for the 2006/2007 financial year, thanks to weakening crude oil prices and rising passenger numbers.