Airline Finance News - Asia / Pacific.

For more airline finance news, data and analysis, please go to: http://www.airguideonline.com/professional.htm Aug 14, 2006

Air China

Air China Likely To Scale Back IPO. Poor demand is likely to force Air China to scale back a USD$1 billion initial public offering in Shanghai, and regulators may slow ambitious plans to list the country's top firms, industry sources said on Monday. Aug 7, 2006

Asiana Airlines

Asiana Airlines was boosted by increased demand, particularly for short-haul travel, and beat soaring fuel costs to post a second-quarter net profit of KRW16 billion ($16.1 million) that reversed last year's loss of KRW8.6 billion. Revenue jumped 12% to KRW843.3 billion and operating profit increased more than sevenfold to KRW22.2 billion. Fuel costs jumped KRW49.2 billion for the quarter. Key to the airline's strong performance has been the introduction by many Korean companies of a five-day work week, which enables many Koreans to take short breaks into Japan and China. Aug 9, 2006

Cathay Pacific Airways

Cathay Pacific carried 8.1 million passengers during the six-month period, up 11.1%. Load factor increased 1 point to 79.1% but yield fell 3% to HKD45.8 cents. CX said that while demand from first and business class passengers remained strong, especially on long-haul routes, economy class yields declined as competition from LCCs in the region stiffened. Aug 10, 2006

Cathay Pacific Airways

Cathay Pacific endures flat first half. Cathay Pacific Group said "high fuel prices continued to undermine increased productivity and revenue" as it posted a half-year profit attributable to shareholders of HK$1.67 billion ($214.7 million), the same figure it reported in the first half of 2005.Turnover rose 13.4% to HKD27.09 billion but costs were up 14.8% to HK$D24.97 billion, dropping operating profit 0.8% to HK$2.12 billion. "This was a creditable performance given the high cost of fuel," Chairman Christopher Pratt said. "Nonetheless, expansion plans announced in the first half of our 60th anniversary year show the confidence we have in the airline's future and in the future of Hong Kong. Our full-year results, which should benefit from the acquisition of Dragonair, will continue to be heavily influenced by the price of fuel and related surcharges." Aug 10, 2006

Cathay Pacific Airways

Cathay Pacific's yields also "came under pressure" on flights to Europe. Fuel costs rose 30.4% to HKD8.68 billion. The company saved HKD720 million through hedging and said that cost per ATK remained static at HKD2.2. It dropped 1.3% excluding fuel. Aug 10, 2006

Hainan Airlines, Hong Kong Express Airways

Hainan Airlines parent HNA Group took a 45% stake in Hong Kong Express Airways following receipt of approval from the Hong Kong Economic Development and Labour Bureau. The expected move will see the balance of the airline remain with the original shareholders. Aug 7, 2006

Jet Airways

Jet Airways yesterday added INR150 ($3.20) to its INR500 surcharge on all domestic fares. Aug 9, 2006