Japan Airlines expects 47 billion yen loss in FY2006

Japan Airlines Corporation reported for the half year ending September 30, 2005 total operating revenues of 1,112.3 billion yen, up 3.4% on the same period last year. Operating costs were 1,096.5 billion yen (10.9% up on last year), resulting in half year operating income of 15.7 billion yen. Ordinary income was 9.7 billion yen and the first half net loss was 12 billion yen. The airline expects to post a 47 billion yen loss for the FY2006 ending March 31, 2006.

Email Post to a Friend Email Post to a Friend

FLYi, Inc. (Independence Air) files for Chapter 11 creditor protection

FLYi, Inc., parent of low-fare airline Independence Air, announced that FLYi, Inc. and its subsidiaries including Independence Air, have filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in order to restructure the company

Email Post to a Friend Email Post to a Friend

Northwest Airlines reaches agreement on temporary labor cost savings with pilots and flight attendants

Northwest Airlines reached interim labor cost savings agreements with the Air Lines Pilots Association (ALPA) and the Professional Flight Attendants Association (PFAA). The ALPA Master Executive Council agreed to temporary pay and other reductions of $215 million on an annualized basis and PFAA leaders agreed to cuts of $117 million. The ALPA agreement is subject to membership ratification. Northwest also confirmed that it has reached tentative agreements on permanent wage and benefit reductions with employees represented by the Aircraft Technical Support Association (ATSA) and the Northwest Airlines Meteorology Association (NAMA). The airline hopes to reach an agreement with the Transport Read more

Email Post to a Friend Email Post to a Friend

JetBlue offers new shares to raise $135 million

JetBlue Airways has priced its public offering of 7,500,000 newly issued shares of its common stock at $18.00 per share, generating gross proceeds of $135 million. The Company has also granted to the underwriters of this offering an over-allotment option to purchase up to an additional 1,125,000 shares of common stock which, if exercised in full, would generate additional gross proceeds of $20.25 million. JetBlue anticipates using the net proceeds from this offering to fund working capital and capital expenditures, including capital expenditures relating to the purchase of aircraft.

Email Post to a Friend Email Post to a Friend

WestJet's third quarter earnings increase 43%

WestJet, Canada announced its 2005 third quarter results with net earnings up 43.6% to CDN$30.3 million compared to CDN$21.1 million achieved during the same period last year. In the first nine months of 2005, the airline achieved net earnings of CDN$23.0 million compared to CDN$29.1 million during the first nine months of 2004. Operating revenue increased 30.9% this quarter to CDN$406.1 million from CDN$310.3 million attained in the third quarter last year. Year to date, operating revenue grew to CDN$1.0 billion, an increase from CDN$784.3 million during the same period in 2004.

Email Post to a Friend Email Post to a Friend

CAE's revenues increased by 19%

CAE today reported financial results for the second quarter ended September 30, 2005. Earnings from continuing operations were $17.8 million, or $0.07 per share, which compares to second-quarter earnings of $12.8 million or $0.05 per share in the prior fiscal year. All financial information is in Canadian dollars. Excluding non-recurring items, earnings from continuing operations for the quarter were $0.08 per share, which on the same basis compares to $0.05 in the second quarter last year. Consolidated revenues from continuing operations increased 19% to reach $280.3 million, compared to $235.1 million in the second quarter last year.

Email Post to a Friend Email Post to a Friend

UAL reports $1.8 billion loss in thrid quarter 2005

UAL reported third-quarter operating earnings of $165 million, $245 million better than the same quarter last year, despite higher fuel prices for the mainline and regional affiliates negatively impacting fuel xpense by $405 million year-over-year. UAL reported a net loss of $1.8 billion, or a loss per basic share of $15.26, which includes $1.8 billion in reorganization items. The company believes the best indicator of United

Email Post to a Friend Email Post to a Friend