New York, Geneva (AirGuideBusiness - Airline Finance News Europe) Mar 6, 2011
Sharply rising oil prices as a result of continuing turmoil in the Middle East Sharply rising oil prices as a result of continuing turmoil in the Middle East have caused a measurable drop in predicted global airline profits for 2011, according to IATA. Since its last industry outlook in December 2010, IATA says predictions for airlines' profits for 2011 have dropped to $8.6 billion from $9.1 billion. On expected industry revenues of $594 billion, this equates to a net profit margin of a "pathetic" 1.4%, says IATA director general Giovanni Bisignani. IATA's downgraded profit prediction represents a 46% drop in industry net profits from the $16 billion earned in 2010. Mar 2, 2011
IATA has changed the location of this year's annual general meeting from Cairo to Singapore. The AGM was originally scheduled to take place in the Egyptian capital on 5-7 June. IATA said earlier this month that it still planned to hold the event in Cairo, despite the civil unrest that forced President Hosni Mubarak to step down. However, it now says that it looks "forward to hosting a future AGM in Egypt when its political transition is complete". Mar 1, 2011
Aer Lingus, Airbus Irish flag-carrier Aer Lingus is switching an order for three Airbus A330s, due for delivery in 2013 and 2014, to three A350-900 aircraft with arrival slated for "no earlier than 2018". As a result, the firm now has nine A350s on order, with four scheduled for delivery in 2015, two the following year and the balance in 2018 or later. In addition, the airline is to sell one of its eight A330s, describing its long-haul fleet as "larger than we currently require". Feb 28, 2011
Air France KLM Air France KLM flew 16.63 billion RPKs in January, up 4.8% from the year-ago month. Capacity rose 3.3% to 21.00 billion ASKs and load factor jumped 1.1 points to 79.2%. Mar 2, 2011
AirAsia X, Airbus AirAsia X has ordered three Airbus A330-200s with an option for two more, bringing the airlineOs total orders for the A330 to 28. The aircraft are scheduled for delivery from 2014. Airbus said the aircraft are the 238-tonne increased take-off weight version of the A330-200, which are capable of flying nonstop from Kuala Lumpur to Europe. The airline will configure the aircraft in a two-class layout with 24 premium flatbeds and 264 economy seats. The AirAsia Group has ordered more than 200 aircraft from Airbus, including 175 A320s, 28...