Overview
Qantas record profit forecast sparks fuel surcharge debate
Qantas Airways is looking at a pre-tax profit of A$1.7 billion in the next financial year as it reaps the benefits of the lower fuel price, said Sydney-based UBS analyst Simon Mitchell.
If achieved, it would not only mean a phenomenal turnaround for the carrier that last year reported an underlying pre-tax loss of A$646 million, but it would also be a record for Qantas. The flag carrier’s previous pre-tax earnings peaked at $1.41 billion, reported in 2008. Read More »
Airline News
Japan’s Skymark Airlines last week filed for protection from creditors, citing a weak yen and a dispute with Airbus Group over unpaid deposits for a $2.2 billion contract for six A380s that was revoked by Airbus in July amid Skymark’s growing financial concerns. Read More »
Airline News
Etihad increases stake in Virgin Australia
Etihad Airways last week increased its stake in Virgin Australia by 1.3% to 24.2%, not far shy of the Australian airline's largest shareholder, Air New Zealand (Air NZ), which owns 25.99%. Singapore Airlines (SIA) has a 22.8% stake in Virgin. Read More »
Airline News
MH370: declared fatal accident
“Officially” declaring Malaysia Airlines flight MH370 “an accident” last week, the Malaysian government said it hoped this would provide closure to the families and loved ones of the 239 passengers and crew “presumed to have lost their lives” when the B777-200ER disappeared without trace last March. Read More »
Airline News
AAPA’s Herdman: more transparency in Indonesia
Association of Asia Pacific Airlines (AAPA) director general, Andrew Herdman, plea for the Indonesians to publicly reveal its preliminary report on the crash of Indonesia AirAsia flight QZ8501 has so far fallen on death ears. Read More »
Airline News
Doha-based Qatar Airways has acquired a 9.99% stake in British Airways/Iberia parent company, International Airlines Group (IAG), for 1.15 billion pounds ($1.73 billion). Read More »
Airline News
ANA profit up, JAL profit down
All Nippon Airways (ANA) parent, ANA Holdings, reported a net income of 52.3 billion yen (US$443 million) for the nine months ended December 31, 2014, up 57.2% from 33.3 billion yen reported in the year-ago period. Read More »
Financial Round Up
Singapore’s Tigerair has reported a S$2.2 million (US$1.63 million) profit for the fourth quarter of 2014, reversed from a net loss of S$118 million year-on-year. Read More »
People
Senior management change at Cathay Pacific
Richard Hall is retiring as Director, Flight Operations at Cathay Pacific Airways, on April 10. He will be succeeded by Anna Thompson, who will continue to as General Manager Aircrew until a successor is appointed, expected by mid-year. Read More »
Overheard
Cathay Pacific drops premium economy to South Asia
As previously reported, Cathay Pacific Airways is understood to be cancelling premium economy class on all services to the Middle East because it was unable to sell enough seats in the market This Week in Asia-Pacific Aviation has been told. Read More »
Short Takes
CODESHARES: Qatar Airways has added its ‘QR’ code on four additional Bangkok Airways routes from Bangkok, two from Phuket and one from Singapore. Read More »
