It could have been much worse. International Airlines Group (IAG), formed by the merger between British and Spanish flag carriers British Airways and Iberia, posted a €997 million (US$1.29 billion) 2012 before-tax loss, dragged down by a €343 million impairment charge against the intangible assets and a €202 million transformation cost at the beleaguered Iberia unit. Amid a moribund Spanish economy where the unemployment rate has hit a staggering 26.1% …Read More
Tag Archives: 777-300ER
Cathay Pacific builds flexibility while embracing opportunities
In posting an 83.3% drop in its 2012 full-year net profit to HK$916 million (US$118 million) from 2011′s HK$5.5 billion (US$708.5 million), Hong Kong-based Cathay Pacific Airways has ridden through a turbulent year that saw Asia’s largest international carrier posting a HK$935 million 2012 first-half loss, its first since the 2003 SARS crisis, amid a cargo conundrum, softening passenger yields in premium classes and stubbornly high fuel prices. The result …Read More
Boeing 777X to spark mini-jumbo war
GE9X to feature 16 blades, versus 18 on GEnx engines Folding wingtip to be operated hydraulically Folding wingtip to improve lift-to-drag by 12% Folding wingtip 800lbs weight penalty, against 777-200′s 3,200lbs 777X to remain ICAO Code E aircraft on aprons 787-styled tail fin, elimination of overwing exit confirmed Elimination of overwing exit saves 1,000lbs of weight 787-styled larger dimmable windows, lower cabin altitude being studied 777-8X & -9X range boosted …Read More
Boeing 777X & 787-10X unfazed by 787 battery woes
787-10 ‘Gate 4′ formal launch still planned in June 2013 Time between start of final assembly & flight testing on 787-9 narrowed to 4 months Folding wingtip decided for 777X 800lbs weight penalty for 777X folding wingtip, compared to 3,200lbs for 777-200 study in 1995 Folding wingtip contains no moveable parts, to be operated electrically 777X has same wing span as 777-300ER on the ground & stay as ‘Code E’ …Read More
Cathay Pacific to be a smarter & leaner airline in 2013
2012 has been a tumultuous year for Hong Kong-based Cathay Pacific Airways, with the “triple whammy” – a toxic mix of softening corporate travel demand owing to ensuing global economic uncertainties, stubbornly high oil prices and a cargo conundrum, pushing Asia’s largest international airline into a HK$935 million (US$120.6 million) first-half loss (“Gleam of hope for Cathay Pacific in stormy skies“, 13th Aug, 12). Notwithstanding this, Cathay Pacific has stayed …Read More
Virgin Australia’s acquisition spree strengthens foundation for growth
It is “game on”, indeed. Following successfully achieving the 20% corporate market share earlier than originally envisaged which saw the increasingly stiff competition in the lucrative business travel market pushing down domestic business fares to an unprecedented low level since the collapse of Ansett Australia in September 2001, Brisbane-based Virgin Australia did not stand still. Neither did its aspirations stop soaring when Australia’s second-largest carrier recorded a 113% increase in …Read More
Gleam of hope for Cathay Pacific in stormy skies
Call it a black swan event. Hong Kong-based Cathay Pacific Airways, Asia’s largest international carrier, has posted its worst interim results for the first half of 2012 since the 2003 severe acute respiratory syndrome (SARS) outbreak and the 2008 global financial crisis in recording a HK$935 million (US$120.6 million) loss attributable to shareholders, a dramatic reversal of the HK$2.81 billion (US$359.9 million) six-month profit posted in the prior year period. …Read More