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ATW Daily News
Short-term improvement will not stop 'record' full-year loss at BA
Monday February 8, 2010British Airways maintained its stark outlook and warned of "record losses" in its fiscal year ending March 31 despite sharp cost cuts and a better-than-expected third-quarter loss of £37.5 million ($58.9 million), narrowed 52% from the £78 million deficit suffered in the year-ago period. [ more ]
Steven Udvar-Hazy retires from ILFC
Monday February 8, 2010Unable to arrange a purchase of the aircraft leasing giant he founded from parent American International Group, ILFC CEO Steven Udvar-Hazy retired from the company Friday. [ more ]
Finnair annual loss doubles to €102 million
Monday February 8, 2010Finnair reported a 2009 net loss of €102 million ($142.2 million), more than double the €46.3 million loss it suffered in 2008, citing a "historically difficult year" in which demand and yield plunged. [ more ]
Growing SpiceJet returns to profit
Monday February 8, 2010SpiceJet reported a company record INR1.09 billion ($23.5 million) profit in its fiscal third quarter ended Dec. 31, reversed from a INR179.6 million deficit in the year-ago period that resulted largely from a INR187.8 million charge related to a dispute with an investor. [ more ]
Today's Other Headlines
Monday February 8, 2010- Bombardier reports falling orders, rising deliveries
- Virgin Blue forecasts A$80-A$110 million full-year profit
- Hong Kong Airlines orders PW4000s
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ATWOnline In-Depth
JAL bankruptcy: Tokyo airline's restructuring likely to have global consequences
Last week's bankruptcy filing by Japan Airlines shook Japan's business and political communities as well as the international air transport industry, with potential implications reverberating well beyond the question of whether JAL can achieve a successful restructuring. Japan's new government, which only has been in office for four months, is banking on the belief that pushing the carrier into a court-monitored proceeding--rather than a more direct bailout--will force it to make deep structural changes that will lead to long-term prosperity. MORE
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