SLS Too Late! Traffic rebound puts profits back on the radar!
Thread Starter
Join Date: Oct 2007
Location: Hong K ong
Posts: 231
Likes: 0
Received 0 Likes
on
0 Posts
SLS Too Late! Traffic rebound puts profits back on the radar!
SCMP.com
Air China looks to add capacity as business improves
Reuters in Hong Kong
5:52pm, Apr 21, 2009
Air China (SEHK: 0753, announcements, news) , the country’s flag carrier, on Tuesday said it will continue to increase capacity this year and has seen signs of improvement in its passenger and cargo businesses.
The airline would expand its fleet in a constrained manner by taking delivery of 27 aircraft this year and returning eight to 10 leased aircraft, chairman Kong Dong told reporters.
Analysts said Air China and its two rivals, China Eastern Airlines (SEHK: 0670) and China Southern Airlines, may return to profit this year as domestic air travel rebounded in the first quarter and said the trend could extend through the year.
The global financial crisis, which depressed air traffic, and huge fuel-hedging losses saw the three mainland carriers’ earnings fall deep into the red last year, with Air China reporting a loss for the year of 9.3 billion yuan.
Mr Kong also said the company had lodged the request for state aid to cope with high fuel costs and weakening demand, but Beijing had not yet provided a cash boost to the flag carrier.
Chairman Kong Dong said the company had lodged the request at the same time as China Southern Airlines and China Eastern Airlines.
But Air China was the only one that had not yet received a bailout.
“We made the request together. The whole airline industry was suffering from losses. We believed the government should consider [our request],” he said.
“But as to when and whether the government will inject capital into our airline, it is the government’s consideration.”
Air China reversed losses by reporting a net profit of 981 million yuan (HK$1.1 billion) in the first quarter of this year, including an exceptional gain and helped by lower fuel costs.
“Demand improved in the first quarter and we have seen positive signs on both the cargo and passenger fronts, especially in the domestic market,” said chief financial officer Fan Cheng.
However, the airline plans to cut capital spending by up to 30 per cent to between 9 billion and 10 billion yuan this year from 12.9 billion yuan last year.
Airlines around the world are taking cost-cutting measures to weather a drop in business resulting from the global economic downturn.
Cathay Pacific (SEHK: 0293), which is 17.5 per cent owned by Air China, has delayed plane deliveries this year and has asked staff to take unpaid leave after it reported a 22.4 per cent drop in revenue from passenger and cargo services in the first quarter.
Air China’s first-quarter results included a loss from its associate, Cathay Pacific, Mr Fan said.
Air China looks to add capacity as business improves
Reuters in Hong Kong
5:52pm, Apr 21, 2009
Air China (SEHK: 0753, announcements, news) , the country’s flag carrier, on Tuesday said it will continue to increase capacity this year and has seen signs of improvement in its passenger and cargo businesses.
The airline would expand its fleet in a constrained manner by taking delivery of 27 aircraft this year and returning eight to 10 leased aircraft, chairman Kong Dong told reporters.
Analysts said Air China and its two rivals, China Eastern Airlines (SEHK: 0670) and China Southern Airlines, may return to profit this year as domestic air travel rebounded in the first quarter and said the trend could extend through the year.
The global financial crisis, which depressed air traffic, and huge fuel-hedging losses saw the three mainland carriers’ earnings fall deep into the red last year, with Air China reporting a loss for the year of 9.3 billion yuan.
Mr Kong also said the company had lodged the request for state aid to cope with high fuel costs and weakening demand, but Beijing had not yet provided a cash boost to the flag carrier.
Chairman Kong Dong said the company had lodged the request at the same time as China Southern Airlines and China Eastern Airlines.
But Air China was the only one that had not yet received a bailout.
“We made the request together. The whole airline industry was suffering from losses. We believed the government should consider [our request],” he said.
“But as to when and whether the government will inject capital into our airline, it is the government’s consideration.”
Air China reversed losses by reporting a net profit of 981 million yuan (HK$1.1 billion) in the first quarter of this year, including an exceptional gain and helped by lower fuel costs.
“Demand improved in the first quarter and we have seen positive signs on both the cargo and passenger fronts, especially in the domestic market,” said chief financial officer Fan Cheng.
However, the airline plans to cut capital spending by up to 30 per cent to between 9 billion and 10 billion yuan this year from 12.9 billion yuan last year.
Airlines around the world are taking cost-cutting measures to weather a drop in business resulting from the global economic downturn.
Cathay Pacific (SEHK: 0293), which is 17.5 per cent owned by Air China, has delayed plane deliveries this year and has asked staff to take unpaid leave after it reported a 22.4 per cent drop in revenue from passenger and cargo services in the first quarter.
Air China’s first-quarter results included a loss from its associate, Cathay Pacific, Mr Fan said.
Thread Starter
Join Date: Oct 2007
Location: Hong K ong
Posts: 231
Likes: 0
Received 0 Likes
on
0 Posts
Traffic rebound puts profits back on the radar for mainland airlines
Traffic rebound puts profits back on the radar for mainland airlines
Reuters
Apr 20, 2009
China's top three airlines, which lost more than US$4 billion in 2008, may return to profit this year as a faster than expected rebound in domestic air travel in the first quarter could extend through the year.
After years of double-digit growth, the mainland's airlines faced strong headwinds last year as a series of natural disasters and a slowing economy hit demand for air travel.
But air traffic has resumed its normal growth pattern this year, as Beijing's aggressive stimulus package to bolster economic growth lifted consumer confidence, boosting travel.
Flag carrier Air China (SEHK: 0753, announcements, news) , which reported a 9.15 billion yuan (HK$10.40 billion) net loss last year under Chinese accounting standards, was profitable in the first quarter.
Loss-making China Eastern Airlines (SEHK: 0670) Corp and China Southern Airlines, due to release quarterly figures later this month, are expected to see positive results, analysts said.
"No one had expected such a strong rebound so soon. It seems the momentum could well be extended into the hot travel seasons in the second and third quarters, in particular," said Li Lie, an industry analyst with China Securities.
Air China's H shares rose 3.6 per cent in Hong Kong on Friday, beating the Hang Seng Index's 1.7 per cent gain.
Air China carried 9.47 million passengers in the first three month's of the year, up 14 per cent from a year earlier, while China Eastern and China Southern have predicted passenger travel gains of 12 per cent and 10 per cent respectively.
"There's little question that Air China and China Southern will return to the black for the full year, even a laggard like China Eastern has a chance to reverse its fortunes," said Yu Jianjun, an industry analyst with Huatai Securities.
China Eastern, the weakest of the big three carriers, was saddled with a 13.9 billion yuan net loss last year, compared with a 603.96 million yuan net profit in 2007. Total debts exceeded assets by 11.1 billion yuan, with end-2008 net debt per share of 2.38 yuan.
China Eastern's A shares, traded in Shanghai, could be de-listed if the airline remains loss-making this year.
Beijing's policy incentives and capital injections to China Eastern and China Southern have helped nurse the ailing airlines back to health, analysts say.
Like international rivals, airlines in China have struggled with slowing demand for air travel and volatile fuel prices.
Aggressive cuts in jet fuel prices since the 2008 fourth quarter - more than halving prices to 3,530 yuan per tonne in the past six months - have also helped. Jet fuel makes up about 40 per cent of Chinese airlines' operating costs.
Air China and China Eastern recorded huge mark-downs in the value of their fuel hedging contracts in 2008 due to a plunge in oil prices late last year. Those hits could shrink significantly this year as oil prices steady in global markets.
In contrast, Air China's Hong Kong partner, Cathay Pacific Airways (SEHK: 0293), said on Friday it would cut passenger and cargo capacity from next month following a sharp drop in first-quarter turnover.
Analysts blamed Cathay's weak turnover on its much larger exposure to international routes, especially in long-haul routes to the United States and Europe, which continue to struggle in the global downturn.
"Chinese airlines' limited global exposure has actually helped them this time. Their first-quarter volume was very good as they have a vast domestic market to fall back on," said China Securities' Mr Li.
Reuters
Apr 20, 2009
China's top three airlines, which lost more than US$4 billion in 2008, may return to profit this year as a faster than expected rebound in domestic air travel in the first quarter could extend through the year.
After years of double-digit growth, the mainland's airlines faced strong headwinds last year as a series of natural disasters and a slowing economy hit demand for air travel.
But air traffic has resumed its normal growth pattern this year, as Beijing's aggressive stimulus package to bolster economic growth lifted consumer confidence, boosting travel.
Flag carrier Air China (SEHK: 0753, announcements, news) , which reported a 9.15 billion yuan (HK$10.40 billion) net loss last year under Chinese accounting standards, was profitable in the first quarter.
Loss-making China Eastern Airlines (SEHK: 0670) Corp and China Southern Airlines, due to release quarterly figures later this month, are expected to see positive results, analysts said.
"No one had expected such a strong rebound so soon. It seems the momentum could well be extended into the hot travel seasons in the second and third quarters, in particular," said Li Lie, an industry analyst with China Securities.
Air China's H shares rose 3.6 per cent in Hong Kong on Friday, beating the Hang Seng Index's 1.7 per cent gain.
Air China carried 9.47 million passengers in the first three month's of the year, up 14 per cent from a year earlier, while China Eastern and China Southern have predicted passenger travel gains of 12 per cent and 10 per cent respectively.
"There's little question that Air China and China Southern will return to the black for the full year, even a laggard like China Eastern has a chance to reverse its fortunes," said Yu Jianjun, an industry analyst with Huatai Securities.
China Eastern, the weakest of the big three carriers, was saddled with a 13.9 billion yuan net loss last year, compared with a 603.96 million yuan net profit in 2007. Total debts exceeded assets by 11.1 billion yuan, with end-2008 net debt per share of 2.38 yuan.
China Eastern's A shares, traded in Shanghai, could be de-listed if the airline remains loss-making this year.
Beijing's policy incentives and capital injections to China Eastern and China Southern have helped nurse the ailing airlines back to health, analysts say.
Like international rivals, airlines in China have struggled with slowing demand for air travel and volatile fuel prices.
Aggressive cuts in jet fuel prices since the 2008 fourth quarter - more than halving prices to 3,530 yuan per tonne in the past six months - have also helped. Jet fuel makes up about 40 per cent of Chinese airlines' operating costs.
Air China and China Eastern recorded huge mark-downs in the value of their fuel hedging contracts in 2008 due to a plunge in oil prices late last year. Those hits could shrink significantly this year as oil prices steady in global markets.
In contrast, Air China's Hong Kong partner, Cathay Pacific Airways (SEHK: 0293), said on Friday it would cut passenger and cargo capacity from next month following a sharp drop in first-quarter turnover.
Analysts blamed Cathay's weak turnover on its much larger exposure to international routes, especially in long-haul routes to the United States and Europe, which continue to struggle in the global downturn.
"Chinese airlines' limited global exposure has actually helped them this time. Their first-quarter volume was very good as they have a vast domestic market to fall back on," said China Securities' Mr Li.
Join Date: Jan 2008
Location: Hong Kong
Posts: 100
Likes: 0
Received 0 Likes
on
0 Posts
They have already reinstated some of the dropped CDG Airbus patterns in June, back to where it was !!
So much for that.............
Next will be FRA Airbus reinstated, you watch.
So much for that.............
Next will be FRA Airbus reinstated, you watch.
Join Date: Nov 2007
Location: Hong Kong
Posts: 41
Likes: 0
Received 0 Likes
on
0 Posts
Interesting... When is CX's 1st quarter report due?
(After April 30th, Im guessing?)
(After April 30th, Im guessing?)
Join Date: Jul 2004
Location: cassiopea
Posts: 220
Likes: 0
Received 0 Likes
on
0 Posts
intresting....
Only the CEO took a pay cut!!!!
Southwest Airlines CEO Cuts His Base Pay 10%
April 19, 2009
The chief executive of Southwest Airlines voluntarily cut his 2009 base salary by 10 percent citing the company's first-quarter results, the low-cost carrier said in a proxy statement on Friday.
The Dallas-based company's compensation committee had already decided not to offer chief executive Gary Kelly a pay increase in 2009 given the "general economic outlook," Southwest said in the proxy, filed with the Securities and Exchange Commission.
Kelly's base pay was increased to USD$465,000 last July after the company's three-person committee decided to boost his salary citing his added duties as chairman of the board and president of the company.
Including bonus payments and other compensation, Kelly earned nearly USD$1.7 million last year, more than USD$378,000 that he made in 2007.
In 2008, Chief Financial Officer Laura Wright earned more than USD$689,000, including bonus and other payments, a decline from the more than USD$700,000 she took home the year earlier.
Southwest, widely known for its thriftiness, said it had chosen to award bonuses to its executives to reward them for the company's 36th year of profitability and the success of its its fuel hedging programme, which contributed to cash savings of almost USD$1.3 billion in 2008, the company said.
The airline had a profitable 2008 despite reporting losses in the second half.
Those declines continued into 2009 when on Thursday, Southwest posted a quarterly loss of USD$91 million as business and leisure travel slumped and the value of its fuel hedging programme fell.
The company is offering an employee buyout programme and most senior managers are accepting a pay freeze.
Southwest Airlines CEO Cuts His Base Pay 10%
April 19, 2009
The chief executive of Southwest Airlines voluntarily cut his 2009 base salary by 10 percent citing the company's first-quarter results, the low-cost carrier said in a proxy statement on Friday.
The Dallas-based company's compensation committee had already decided not to offer chief executive Gary Kelly a pay increase in 2009 given the "general economic outlook," Southwest said in the proxy, filed with the Securities and Exchange Commission.
Kelly's base pay was increased to USD$465,000 last July after the company's three-person committee decided to boost his salary citing his added duties as chairman of the board and president of the company.
Including bonus payments and other compensation, Kelly earned nearly USD$1.7 million last year, more than USD$378,000 that he made in 2007.
In 2008, Chief Financial Officer Laura Wright earned more than USD$689,000, including bonus and other payments, a decline from the more than USD$700,000 she took home the year earlier.
Southwest, widely known for its thriftiness, said it had chosen to award bonuses to its executives to reward them for the company's 36th year of profitability and the success of its its fuel hedging programme, which contributed to cash savings of almost USD$1.3 billion in 2008, the company said.
The airline had a profitable 2008 despite reporting losses in the second half.
Those declines continued into 2009 when on Thursday, Southwest posted a quarterly loss of USD$91 million as business and leisure travel slumped and the value of its fuel hedging programme fell.
The company is offering an employee buyout programme and most senior managers are accepting a pay freeze.
Join Date: Jul 2004
Location: cassiopea
Posts: 220
Likes: 0
Received 0 Likes
on
0 Posts
do we fly to Qatar?????????????
Qatar Airways Flying High
ITB Berlin, GERMANY – Qatar Airways today announced plans to launch scheduled flights to Australia and further expand its operations in India and Europe with new routes from the start of the Northern Winter 2009 schedules.
Flights to the Australian cities of Sydney and Melbourne, together with new services to Goa and Amritsar in India, and two new European services are being earmarked over the next nine months.
In addition, the Doha-based carrier will increase frequency to selected destinations across its global network from the beginning of the Northern Summer 2009 schedules on March 29. The expansion was announced today at ITB Berlin, the world’s largest travel and tourism show being held in the German capital this week.
Subject to regulatory approval, the long-awaited Australian services will become reality as more Boeing 777-200 Long Range aircraft join the fleet. There are currently eight Boeing 777s in Qatar Airways’ fleet of 68 aircraft – of which two are the Boeing 777 Long Range version capable of flying from Doha to Australia non-stop.
Amritsar, located in the rich northwestern Indian agricultural heartland of Punjab State, is home to the Golden Temple – the spiritual and cultural centre of the Sikh religion. Together with the popular idyllic beach holiday state of Goa, the two new routes will boost Qatar Airways’ Indian capacity from nine to 11 destinations.
Qatar Airways' Boeing 777 Business Class
Qatar Airways will also step up its European presence with two new routes, which are currently being finalised. Details will be announced in due course. The airline’s first new route launch of 2009 will be daily flights between Doha and Houston which, at just under 17 hours, will be one of the longest non-stop flights in the world.
Beginning March 30, the Houston route will feature Qatar Airways’ new fully flat Business Class seats deployed on its two Boeing 777-200 Long Range aircraft, which the airline took delivery of over the past six weeks.
The expansion is part of the airline’s ongoing growth strategy – a long-term commitment to develop its route infrastructure as new aircraft join the fleet at an average delivery rate of one a month.
The award-winning Doha-based airline currently has on order more than 200 new Airbus and Boeing aircraft worth over US$40 billion.
“Qatar Airways’ robust expansion is continuing undeterred by the current economic climate,” said Chief Executive Officer Akbar Al Baker, addressing a packed press conference on the opening day of ITB Berlin.
“Sydney and Melbourne have been on our radar screen for many years. We can finally look forward to entering the Australian market with vigour as we will have the aircraft to serve this highly popular market non-stop from Doha.
“India has been, and remains, one of our most important destinations and we are pleased to be strengthening economic and cultural ties with one of the world’s fastest growing economies. With the growth of the Indian economy into a potential global powerhouse and Qatar's drive to spread its economic wings globally, increasing air links between the two countries is of paramount importance.”
A packed ITB Berlin press conference heard Qatar Airways announce new routes including Sydney and Melbourne in Australia, Amritsar and Goa in India, as well as two new destinations in Europe.
Qatar Airways currently operates 58 flights a week to nine cities across India – daily to Delhi, Mumbai, Chennai, Cochin, Ahmedabad, Trivandrum, Hyderabad, Kozhikode and twice-weekly to Nagpur.
Al Baker said Europe was strategically important for Qatar Airways, highlighting the need to widen its market presence with the addition of two new routes over the next nine months.
“Our tremendous growth is part of a long-term strategy to significantly build up our portfolio of routes and fleet size,” he added.
“Qatar Airways continually identifies new opportunities around the world to better serve the travelling public and is able to easily shift capacity according to market conditions. As a network hub airline, Qatar Airways does not rely on traffic from any specific markets, so we are largely immune from the circumstances surrounding the current global economic meltdown"
"With new aircraft joining our fleet at an incredible rate of one a month for the foreseeable future, we are confident going forward, able to consolidate our position by increasing frequency on existing routes and introducing new routes to give passengers greater choice.
“Qatar Airways is well poised to face the challenges ahead. We have a long-term vision demonstrated by today’s announcement to build on our highly successful young operation – a remarkable feat for an airline which launched just 12 years ago.”
In addition to the route expansion, Qatar Airways is gradually stepping up capacity from March 29 to eight cities – Geneva, Kuala Lumpur, Manila, Lagos, Muscat, Mashad (Iran), Tunis and Algiers. The frequency increases will see the Philippines capital of Manila being served with two daily flights, up from the current 11 services a week; Nigeria’s commercial capital of Lagos going from five services a week to daily; and capacity to the Omani capital of Muscat rising from 15 to 21 flights a week.
Qatar Airways currently operates a modern fleet of 68Airbus and Boeing aircraft to 83 diverse business and leisure destinations across Europe, Middle East, Africa, South Asia, Far East and North America.
With the opening of the New Doha International Airport scheduled for 2012, Qatar Airways plans to increase its global network to beyond 100 cities worldwide.
ITB Berlin, GERMANY – Qatar Airways today announced plans to launch scheduled flights to Australia and further expand its operations in India and Europe with new routes from the start of the Northern Winter 2009 schedules.
Flights to the Australian cities of Sydney and Melbourne, together with new services to Goa and Amritsar in India, and two new European services are being earmarked over the next nine months.
In addition, the Doha-based carrier will increase frequency to selected destinations across its global network from the beginning of the Northern Summer 2009 schedules on March 29. The expansion was announced today at ITB Berlin, the world’s largest travel and tourism show being held in the German capital this week.
Subject to regulatory approval, the long-awaited Australian services will become reality as more Boeing 777-200 Long Range aircraft join the fleet. There are currently eight Boeing 777s in Qatar Airways’ fleet of 68 aircraft – of which two are the Boeing 777 Long Range version capable of flying from Doha to Australia non-stop.
Amritsar, located in the rich northwestern Indian agricultural heartland of Punjab State, is home to the Golden Temple – the spiritual and cultural centre of the Sikh religion. Together with the popular idyllic beach holiday state of Goa, the two new routes will boost Qatar Airways’ Indian capacity from nine to 11 destinations.
Qatar Airways' Boeing 777 Business Class
Qatar Airways will also step up its European presence with two new routes, which are currently being finalised. Details will be announced in due course. The airline’s first new route launch of 2009 will be daily flights between Doha and Houston which, at just under 17 hours, will be one of the longest non-stop flights in the world.
Beginning March 30, the Houston route will feature Qatar Airways’ new fully flat Business Class seats deployed on its two Boeing 777-200 Long Range aircraft, which the airline took delivery of over the past six weeks.
The expansion is part of the airline’s ongoing growth strategy – a long-term commitment to develop its route infrastructure as new aircraft join the fleet at an average delivery rate of one a month.
The award-winning Doha-based airline currently has on order more than 200 new Airbus and Boeing aircraft worth over US$40 billion.
“Qatar Airways’ robust expansion is continuing undeterred by the current economic climate,” said Chief Executive Officer Akbar Al Baker, addressing a packed press conference on the opening day of ITB Berlin.
“Sydney and Melbourne have been on our radar screen for many years. We can finally look forward to entering the Australian market with vigour as we will have the aircraft to serve this highly popular market non-stop from Doha.
“India has been, and remains, one of our most important destinations and we are pleased to be strengthening economic and cultural ties with one of the world’s fastest growing economies. With the growth of the Indian economy into a potential global powerhouse and Qatar's drive to spread its economic wings globally, increasing air links between the two countries is of paramount importance.”
A packed ITB Berlin press conference heard Qatar Airways announce new routes including Sydney and Melbourne in Australia, Amritsar and Goa in India, as well as two new destinations in Europe.
Qatar Airways currently operates 58 flights a week to nine cities across India – daily to Delhi, Mumbai, Chennai, Cochin, Ahmedabad, Trivandrum, Hyderabad, Kozhikode and twice-weekly to Nagpur.
Al Baker said Europe was strategically important for Qatar Airways, highlighting the need to widen its market presence with the addition of two new routes over the next nine months.
“Our tremendous growth is part of a long-term strategy to significantly build up our portfolio of routes and fleet size,” he added.
“Qatar Airways continually identifies new opportunities around the world to better serve the travelling public and is able to easily shift capacity according to market conditions. As a network hub airline, Qatar Airways does not rely on traffic from any specific markets, so we are largely immune from the circumstances surrounding the current global economic meltdown"
"With new aircraft joining our fleet at an incredible rate of one a month for the foreseeable future, we are confident going forward, able to consolidate our position by increasing frequency on existing routes and introducing new routes to give passengers greater choice.
“Qatar Airways is well poised to face the challenges ahead. We have a long-term vision demonstrated by today’s announcement to build on our highly successful young operation – a remarkable feat for an airline which launched just 12 years ago.”
In addition to the route expansion, Qatar Airways is gradually stepping up capacity from March 29 to eight cities – Geneva, Kuala Lumpur, Manila, Lagos, Muscat, Mashad (Iran), Tunis and Algiers. The frequency increases will see the Philippines capital of Manila being served with two daily flights, up from the current 11 services a week; Nigeria’s commercial capital of Lagos going from five services a week to daily; and capacity to the Omani capital of Muscat rising from 15 to 21 flights a week.
Qatar Airways currently operates a modern fleet of 68Airbus and Boeing aircraft to 83 diverse business and leisure destinations across Europe, Middle East, Africa, South Asia, Far East and North America.
With the opening of the New Doha International Airport scheduled for 2012, Qatar Airways plans to increase its global network to beyond 100 cities worldwide.
Join Date: Jul 2004
Location: cassiopea
Posts: 220
Likes: 0
Received 0 Likes
on
0 Posts
Do we fly to Turkey???
Turkish Airlines 2008 Net Profit Soars
April 8, 2009
State-run Turkish Airlines, said on Wednesday its 2008 consolidated net profit more than quadrupled as it boosted revenue from international flights.
Profit rose to TRW1.13 billion lira (USD$712 million) from TRW265.5 million in 2007, according to a filing with the Istanbul Stock Exchange. Fourth-quarter profit was TRW466 million.
Sales rose 26 percent to TRW6.12 billion last year. Revenue in the last quarter alone was TRW1.70 billion. Quarterly figures were calculated by deducting previously announced nine-month figures from the full year.
Seventy-eight percent of revenue in 2008 came from overseas flights, Turkish Airlines said.
Passengers increased 15 percent to 22.6 million people last year, while cargo grew 8 percent to 203,000 tonnes, it said. The carrier expanded its fleet to 127 planes from 102.
Turkish Airlines increased its operating profit even as fuel costs rose an average 44 percent annually, creating an additional expenditure of USD$441 million, it said.
Turkish Airlines released its earnings after the markets closed. Its shares closed 1.4 percent higher at 7.35 lira, while the main index climbed 4.8 percent to a three-month high.
*Reuters
More information on Turkish Airlines.
April 8, 2009
State-run Turkish Airlines, said on Wednesday its 2008 consolidated net profit more than quadrupled as it boosted revenue from international flights.
Profit rose to TRW1.13 billion lira (USD$712 million) from TRW265.5 million in 2007, according to a filing with the Istanbul Stock Exchange. Fourth-quarter profit was TRW466 million.
Sales rose 26 percent to TRW6.12 billion last year. Revenue in the last quarter alone was TRW1.70 billion. Quarterly figures were calculated by deducting previously announced nine-month figures from the full year.
Seventy-eight percent of revenue in 2008 came from overseas flights, Turkish Airlines said.
Passengers increased 15 percent to 22.6 million people last year, while cargo grew 8 percent to 203,000 tonnes, it said. The carrier expanded its fleet to 127 planes from 102.
Turkish Airlines increased its operating profit even as fuel costs rose an average 44 percent annually, creating an additional expenditure of USD$441 million, it said.
Turkish Airlines released its earnings after the markets closed. Its shares closed 1.4 percent higher at 7.35 lira, while the main index climbed 4.8 percent to a three-month high.
*Reuters
More information on Turkish Airlines.
Join Date: May 2004
Location: 3.5 from TD
Age: 47
Posts: 1,042
Likes: 0
Received 0 Likes
on
0 Posts
Not just the airline doesn't get it, apparently the pilots don't either. There is still a big bunch that are on-board with SLS. They will voluntarily give up money because they feel that they are overpaid.
Skwack7700....
Perhaps you intentionally misspelt it .
What possible business is it of yours if a colleague takes the unpaid leave. It is a personal choice and in many cases may have nothing to with running scared, only a desire to have some extra days off and why not if they have the financial means to do so.
After all, if things are picking up, it will give you the opportunity to pick up some extra EFP.
Now your bleating about COS08 I can understand.
Perhaps you intentionally misspelt it .
What possible business is it of yours if a colleague takes the unpaid leave. It is a personal choice and in many cases may have nothing to with running scared, only a desire to have some extra days off and why not if they have the financial means to do so.
After all, if things are picking up, it will give you the opportunity to pick up some extra EFP.
Now your bleating about COS08 I can understand.
Join Date: May 2004
Location: 3.5 from TD
Age: 47
Posts: 1,042
Likes: 0
Received 0 Likes
on
0 Posts
Actually Max, I spell it that way because that is the only way that PPRUNE will let me spell it. We don't all get to choose the spelling of our screen-name. For example, if you wanted your screen-name to be ****, I'm sure that there is already many people that chose to be ****, which means you would have to spell yours creatively, like TUAT, TOOAT, or maybe 2AT... you get the point.
Back on topic, your misconception is that you will get the time off all at once. The company has already stated that they will strive to award it in blocks of at least 1 week, hardly considered "extended leave".
So the real issue here is that you actually believe that they will give you the time off all at once. You should consider that Cathay does not have a good track record with regards to M.E.E. (Make Every Effort) statements - this is undisputed. So you are either purposely ignoring this reputation, or are new enough to not understanding it. Or maybe you are just not that bright, which I don't think is true.
I don't mean it as an insult, I'm just trying to understand your decision. Needing the time off is just not a factor, so what is it really? Are you sure that intimidation and good ol' fear is not driving you to make your choice?
Back on topic, your misconception is that you will get the time off all at once. The company has already stated that they will strive to award it in blocks of at least 1 week, hardly considered "extended leave".
So the real issue here is that you actually believe that they will give you the time off all at once. You should consider that Cathay does not have a good track record with regards to M.E.E. (Make Every Effort) statements - this is undisputed. So you are either purposely ignoring this reputation, or are new enough to not understanding it. Or maybe you are just not that bright, which I don't think is true.
I don't mean it as an insult, I'm just trying to understand your decision. Needing the time off is just not a factor, so what is it really? Are you sure that intimidation and good ol' fear is not driving you to make your choice?
Join Date: Aug 2006
Location: Hong Kong
Posts: 360
Likes: 0
Received 0 Likes
on
0 Posts
Pilots' 'go-slow' protest costs airline millions
April 24, 2009
Pilots of Pakistan International Airlines (PIA) Thursday agreed to end their go-slow protest over pay which had forced the flag carrier to cancel dozens of flights, the government said.
After negotiations with pilots and PIA management at the defence ministry in Rawalpindi, near Islamabad, both sides had agreed to revert to a normal schedule, the government said in a statement.
"The talks were held in cordial atmosphere. The issues were discussed at length. Both sides came to a mutual agreement," it said.
"As a result of these talks the PIA flights will revert to the normal, schedule and both sides will deliberate and conclude a working agreement with in the stipulated time frame," it said.
PIA spokesman Sultan Hassan said earlier losses had reached nearly six million dollars over the past six days as the pilots, who were protesting over pay, employed various disruptive tactics such as calling in sick just before flights.
"So far 16 international and 11 domestic flights have been cancelled due to pilots' go-slow protests," he told AFP.
"It has caused us 450 million rupees (A$7.8 million) loss so far and the losses could increase if the situation persists further," Hassan said.
The go-slow affected hundreds of passengers destined mainly for Europe, prompting protests by stranded travellers at Lahore and Islamabad airports.
Members of PIA's senior management who are qualified pilots were forced to man the planes in a bid to mitigate cancellations.
"Our senior general managers are also operating the flights to avoid delays and cancellations," Hassan said.
The Pakistan Airlines Pilots Association (PALPA) said it wanted pay rises of at least 35 percent raise for the pilots. The airline said raising the salaries would cost 640 million rupees (A$11.16 million).
PIA has suffered huge losses of A$1.2 billion over the past five years, company officials say, but sinking fuel prices have helped to arrest the decline.
"After suffering 72 billion rupees in five years we have just came to a situation of break-even now," Hassan said.
AFP
April 24, 2009
Pilots of Pakistan International Airlines (PIA) Thursday agreed to end their go-slow protest over pay which had forced the flag carrier to cancel dozens of flights, the government said.
After negotiations with pilots and PIA management at the defence ministry in Rawalpindi, near Islamabad, both sides had agreed to revert to a normal schedule, the government said in a statement.
"The talks were held in cordial atmosphere. The issues were discussed at length. Both sides came to a mutual agreement," it said.
"As a result of these talks the PIA flights will revert to the normal, schedule and both sides will deliberate and conclude a working agreement with in the stipulated time frame," it said.
PIA spokesman Sultan Hassan said earlier losses had reached nearly six million dollars over the past six days as the pilots, who were protesting over pay, employed various disruptive tactics such as calling in sick just before flights.
"So far 16 international and 11 domestic flights have been cancelled due to pilots' go-slow protests," he told AFP.
"It has caused us 450 million rupees (A$7.8 million) loss so far and the losses could increase if the situation persists further," Hassan said.
The go-slow affected hundreds of passengers destined mainly for Europe, prompting protests by stranded travellers at Lahore and Islamabad airports.
Members of PIA's senior management who are qualified pilots were forced to man the planes in a bid to mitigate cancellations.
"Our senior general managers are also operating the flights to avoid delays and cancellations," Hassan said.
The Pakistan Airlines Pilots Association (PALPA) said it wanted pay rises of at least 35 percent raise for the pilots. The airline said raising the salaries would cost 640 million rupees (A$11.16 million).
PIA has suffered huge losses of A$1.2 billion over the past five years, company officials say, but sinking fuel prices have helped to arrest the decline.
"After suffering 72 billion rupees in five years we have just came to a situation of break-even now," Hassan said.
AFP
Join Date: Apr 2002
Location: hong kong
Posts: 397
Likes: 0
Received 0 Likes
on
0 Posts
Absolutely no chance
Brains and balls , no way at CX when I joined I had neither , all you need now is balls!
To join within the last decade you have to show signs of a desire to be beaten over a dead horse not flinch and then go out get p#ssed and enjoy the experience !
Then after after years you realise ......these guys are badmutherf###ers
Ok in the middle ..?
BAD AT THE TOP
Cheers !
Brains and balls , no way at CX when I joined I had neither , all you need now is balls!
To join within the last decade you have to show signs of a desire to be beaten over a dead horse not flinch and then go out get p#ssed and enjoy the experience !
Then after after years you realise ......these guys are badmutherf###ers
Ok in the middle ..?
BAD AT THE TOP
Cheers !
Join Date: May 2004
Location: 3.5 from TD
Age: 47
Posts: 1,042
Likes: 0
Received 0 Likes
on
0 Posts
We need Brains not Balls to deal with Swire !
We should, in a perfect world, be able to resolve things with our brains. But when you are fighting unchecked greed, reason is not an effective weapon.
Sometimes you have to switch tactics. Sometimes, it is up to you to roll your sleeves up and get to it.
That time is now.
Thread Starter
Join Date: Oct 2007
Location: Hong K ong
Posts: 231
Likes: 0
Received 0 Likes
on
0 Posts
Sq 7700 - U've been infected with Swine Flu
Quote from Book Power of one: " First with the head then with the Heart"
If u go in with windmilling fists - you'll almost certainly not make it past the first round!
On the other hand if you really care about putting up a fight. Channel those emotions into some clever team work within the AoA use the courts & by time for more favourable economic time..
Swinging Fist will never happen in unison here while codes of conduct a far from being impeccable!
So until then don't lower urself to there level.
Be professional & responsible - this is not a dream its real!
And needs Real & orderly responses..etc
If u go in with windmilling fists - you'll almost certainly not make it past the first round!
On the other hand if you really care about putting up a fight. Channel those emotions into some clever team work within the AoA use the courts & by time for more favourable economic time..
Swinging Fist will never happen in unison here while codes of conduct a far from being impeccable!
So until then don't lower urself to there level.
Be professional & responsible - this is not a dream its real!
And needs Real & orderly responses..etc