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Airline Finance News - Asia / Pacific.

Nov 20, 2006

Asia/Pacific carriers face falling profits. Net income for the 17 member airlines of the Assn. of Asia Pacific Airlines plummeted 69% to $1.2 billion for the 2005-06 fiscal year against an increase of 11.3%, 2.3 points above the global average, in operating revenue to $68.1 billion. Nov 17, 2006


Dragonair flew 633.4 million RPKs in October, a 3.5% increase over the year-ago month. Capacity rose 1.3% to 893.3 million ASKs. Nov 16, 2006

Garuda Indonesia

Garuda Looking For Potential Partners. Indonesia's troubled flag carrier Garuda Indonesia said on Friday that it and its shareholders are in talks with four or five airlines about strategic partnerships. State-run Garuda, which like many airlines has been hit by high fuel prices, had debts of around USD$800 million as of August, most of it to the European Credit Agency. Transport Minister Hatta Radjasa said in January that Indonesia wants to inject funds into Garuda and may also sell a stake, possibly through an initial public offering. Nov 17, 2006

Garuda Indonesia

Garuda said in August it aims to reduce costs by 5 to 10 percent next year partly by introducing fuel efficiency measures. The cost-cutting efforts are in line with the government's efforts to help the ailing airline which defaulted on a USD$55 million debt payment at the end of 2005. Nov 17, 2006

Korean Air

Korean Air profit dips on high fuel costs, declining export market. Korean Air reported third-quarter net income of KRW126 billion ($132.3 million), down 17.7% from KRW154 billion in the year-ago quarter, but pointed to a 3.4% rise in revenues to KRW2.19 trillion and an improvement over second-quarter net income of KRW15 billion as evidence of solid financial performance. Nov 15, 2006


SpiceJet To Raise Cash Through Stake Sale. Indian budget airline SpiceJet plans to sell equity to raise USD$60 million to upgrade technology besides improving reservation, customer support and airport facilities, an official said on Friday. Nov 17, 2006


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Nov 13, 2006
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Publication:Airguide Online
Date:Nov 20, 2006
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