Airline Finance News - Asia / Pacific.

Mar 1, 2009

Air Astana

Air Astana transported 2.8 million passengers in 2008, up 8% from the prior year, on a 16% increase in capacity to 7.5 billion ASKs. Load factor was 64%. Feb 25, 2009

Air China

Air China is blaming its fuel hedges for its 2008 loss and plans to shift more attention to boosting ancillary revenue to help engineer a turnaround this year. The carrier reported a CNY6.8 billion ($993.2 million) noncash loss resulting from a Dec. 31 writedown in the value of its fuel hedges. It recorded cash losses of $5.9 million and $52.8 million on its fuel hedge contract in November and December respectively. Air China did not reveal any final financial figures but is expected to do so when its annual report is released in April. Air China remains confident it can reverse its fortunes in 2009. Feb 23, 2009

Air China

Air China said it will shift more attention to diversifying into airline support business by establishing a foothold in industries such as logistics, aircraft MRO (it already is the majority partner in Ameco Beijing), airport management, ground handling, tourism, media and finance, Huang said, although he emphasized the "airline business" will remain the focus. Feb 23, 2009

Air India

Air India announced that it is extending its 10 percent commission offer to travel agents for another month, to March 31. The offer originally was to expire Feb. 28, and applies to all Executive and First Class bookings to India from New York's JFK and Newark Airports and Chicago's O'Hare Airport. The 10 percent commission replaces Air India's standard 4 percent commission, which is available for all other bookings. The 10 percent commission to travel agents coincides with Air India current Companion Fare offering for Executive and First Class passengers. Travelers who purchase a roundtrip ticket to Mumbai or Delhi in either of these two classes at the regular fare can get a 50 percent discount on a second, same-class ticket for a companion. This offer cannot be combined with other offers and is good for travel on all Air India flights from New York's JFK and Newark Airports, and Chicago's O'Hare Airport. Feb 26, 2009

Air New Zealand

Air New Zealand cut capacity and retrenched 100 staff in November but is working various strategies to minimize the need for further redundancies. These include pilots taking leave without pay, introducing part-time hours for cabin crew, not renewing temporary contracts and freezing executive salaries. Feb 27, 2009

Air New Zealand

Air New Zealand expenses climbed 11.5% to NZ$2.06 billion, with fuel costs soaring more than 69% to NZ$948 million. A foreign exchange loss of NZ$69 million in the six months ended Dec. 31, 2007 reversed to a NZ$214 million gain in the recent reporting period. Traffic fell 4.6% to 13.98 billion RPKs against a 3.6% decline in capacity to 17.79 billion ASKs, lowering load factor 0.8 point to 78.6%. Feb 27, 2009

Air New Zealand

Air New Zealand said its foreign exchange hedging program limited the effects of fluctuating fuel prices and the economic downturn as it remained profitable in the fiscal first half ended Dec. 31, reporting a NZ$24 million ($12.3 million) net that was 79% lower...

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