Airline Finance News - Asia / Pacific.

 
FREE EXCERPT

New York (AirGuideBusiness - Airline Finance News Asia / Pacific) Jun 6, 2010

AirAsia AirAsia announced an 8 percent year-over-year increase in first-quarter net income to MYR224.1 million (USD68.7 million) on a 10 percent rise in revenue to MYR878 million. Passengers carried lifted 17.1 percent to 3.7 million; the airline did not release RPK and ASK figures. CEO Tony Fernandes said the period's major highlights were the "sustained turnaround" of its Thai and Indonesian operations and an "astounding 31 percent jump in ancillary income." Ancillary revenue comprised 16 percent of the carrierOs total revenue. AirAsia Thailand recorded a 30 percent increase in revenue to THB3.1 billion (USD95.6 million) on a 25 percent increase in passenger volume. "It's an amazing performance and validates our strong belief that AirAsia Thailand is more than capable of weathering whatever challenges come its way and still post impressive numbers," Fernandes said. "These efforts will also get a powerful boost with the transition to an all-Airbus fleet in Thailand by the third quarter of this year." Jun 2, 2010

AirAsia Malaysia's AirAsia Q1 net profit up on ringgit. Malaysian budget carrier AirAsia Bhd reported on Monday an improved quarterly profit, boosted by a stronger ringgit and the company said it is upbeat about the operating outlook for 2010. Demand for air travel has rebounded faster than expected, but airlines are facing new threats from Europe's economic troubles and disruptions from airport closures due to Iceland's volcanic eruption. AirAsia said it has achieved higher load factors in April than a year ago. Forward bookings for future months were also higher, it said. Jun 1, 2010

British Airways, Qantas British Airways said it will codeshare on more Qantas flights across Australia and New Zealand from June 14. It plans to add its code to Qantas flights to Queenstown, Albury, Armidale, Port Macquarie, Coffs Harbour and Wagga Wagga. Jun 2, 2010

Cathay Pacific, Airbus, Boeing Cathay Pacific Airways will shatter Airbus's A380 sales aspirations as it prepares for a widebody buying spree, with deals for long-range twinjets but no near-term plans to order the superjumbo, deemed too large, it needs more flexible capacity options. The Hong Kong airline, which is a major Boeing 747 operator, has long been a target for Airbus's A380 salesmen. However, according to industry sources a request for proposals issued by Cathay in November centered on Airbus...

To continue reading

FREE SIGN UP