Its Friday, so it’s time to do the news
British Airways – Bleeding Cash.
Oh it’s been over the wires last week – BA managed to make a £148m loss this quarter. Not as bad as some of it’s competitors, but still pretty bad. Of course, the changes they’re making have been well documented in this Blog…
Air France/KLM Group –
Air France/KLM lost 496m euros (£425m) loss this quarter. The usual reasons again.
JAL (Japan Airlines) – Lost money also
.. of $1 BILLION (£618m). Cites the usual reasons (Ressesion, H1N1), and is reacting with route cuts and
ANA – Death by a few cuts
It seems that the Dreamliner launch partner is having a few more problems, and is starting to cut the little things papers in Y, free telephone calls to reservations and newspapers/magazines in economy , and offer parts of the product for sale to Y passengers that accessable only in premium cabins such as meals, drinks and lounge access. In other words… ANA PE could finally open up to th
Lufthansa – A profit
Hold the presses – someone actually made a profit!Lufthansa managed to walk away with a £8 million profit this quarter. However, with it spending money on acquiring the European aviation sector and in most cases – Basket case airlines (BMI, Austrian and Brussels Airlines) and it is actually loosing in comparison 9/10’s of what it was earning last year.
Cathy Pacific – Another Profit.. but the devil is in the detail.
CX also joins the profits crowd, making HK$812m (£61.8m) with drops in premium passengers and cargo. How? Fuel Hedging of course! This is the practice of betting the price of fuel, and seeing saving money if the hedge goes above a set price, or loosing money if the price of fuel drops below that price.
Fuel Hedges don’t last forever though….
Wizz Air Wizz around with more A320 series aircaft
Wizz Air converts its thoughts (letter of intent) into actual orders – ordering 50 A320 aircraft (in A320 configuration). A nice boost for them.
More news next week!