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: A330-300
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 & 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
Singapore Airlines at a crossroads
2012 was a significant year for Singapore Airlines (SIA) which saw the Singaporean flag carrier embark on a shift in strategy in reinvesting in its namesake unit alongside strengthening its strategic partnership with Virgin Australia by acquiring a 10% stake in a carrier well positioned in one of SIA’s most important core markets, in addition to the sale of its 49% stake in United Kingdom carrier Virgin Atlantic. These moves, coupled …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
A major restructuring for Virgin Atlantic is overdue
In successfully acquiring loss-making British Midland Airways (bmi) along with its subsidiaries bmi Regional and bmi Baby, of which bmi Regional was subsequently sold to Sector Aviation Holdings for £8 million in cash, International Airlines Group (IAG) unit British Airways (BA) has gained 42 valuable London Heathrow slot pairs at a significant bargain, following the failure in its previous owner Lufthansa’s efforts to sell the bmi Baby unit. Most importantly …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
Airbus is right on A330 improvement strategy
Having decided against re-engining the twin-aisle medium to long-haul A330 aircraft which is likely to undermine the business case of its A350-800 sibling (“Airbus mulls re-engined A330 along with sharklets“, 5th Mar, 12), Airbus is adopting the least risky option of offering new, higher gross weight variants of the A330 aircraft family that not only will see the A330 being more capable than it has ever been, but also provide …Read More