Reading Time: < 1 minute Air Berlin has filed for administration after Etihad Airways said it cannot continue to guarantee future cash infusions into the troubled airline. “This development is extremely disappointing for all parties, especially as Etihad has provided extensive support to Airberlin for its previous liquidity challenges and restructuring efforts over the past six years,” Etihad has said […]
Reading Time: < 1 minute Air Zimbabwe, the national carrier of the southern African nation, has reportedly made almost half of its 400-plus staff redundant as it battles chronic financial problems. The Zimbabwe flag carrier has been in a perilous position for years, with debts estimated at $330 million. Its fleet has shrunk to just a few aircraft. The Harare-headquartered […]
Reading Time: < 1 minute Airways New Zealand today announced its interim results for the period ending 31 December 2016, reporting a strong operational, safety and financial performance. The State Owned Enterprise has achieved an interim net profit after tax (NOPAT) of $13.8m, a 20 per cent increase on the prior year’s $11.5 million result. During the period, Airways recorded […]
Reading Time: 7 minutes Qantas reported an underlying profit before tax of $1.53 billion for the 12 months ended 30 June 2016 – the best result in its 95-year history. The record performance is a 57 per cent per cent improvement on financial year 2015. It means Qantas can resume dividend payments, reward 25,000 EBA-covered employees with a one-off […]
Reading Time: < 1 minute Air Arabia continues its strong financial performance, announcing today a 3.5 percent increase in its H1 2016 net profit results compared to the same period last year. MENA’s largest low-cost carrier reported net profit of AED 245 million compared to the AED 237 million reported for the same period last year. The company’s turnover for […]
Reading Time: 3 minutes Capacity cuts and adverse geopolitical events in the competitive European market during the second quarter of 2016 led to a 9.4 per cent decrease in sales to 970.6 million euros (Q2 2015: 1.07 billion euros). Total sales declined in the first half of 2016 by 8.4 per cent to 1.71 billion euros (H1 2015: 1.86 […]