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Airline Finance News - Asia / Pacific.

Dec 31, 2006

China's civil aviation industry is expected to post bigger profits in 2006 despite a CNY640 million ($81.7 million) loss during the first half due to high fuel prices, China Daily reported. Chinese airlines recorded a CNY5.5 billion profit in the third quarter and enjoyed a 22.2% rise in revenue to CNY65.4 billion on double-digit passenger and cargo growth. Dec 21, 2006

Cathay Pacific Airways

Cathay Pacific Airways flew 5.84 billion RPKs in November, a 7.7% increase from the year-ago month. Capacity grew 4.4% to 7.42 billion ASKs and load factor was up 2.4 points to 78.7%. Dec 26, 2006

Japan Airlines, All Nippon Airways

JAL, ANA To Increase International Fares. Japan Airlines said on Tuesday it plans to raise its international and domestic fares from April to cover high fuel costs that are expected to increase by some JPY40 billion yen (USD$336 million) next business year. Rival All Nippon Airways also said it would increase its international fares, a week after it announced a domestic fare increase, estimating nearly JPY45 billion higher fuel costs in the year starting April 2007. Jet fuel prices have eased from their August peaks but still remain relatively high compared with last year. If the new fare schemes are approved, a business class round-trip ticket from Tokyo to London, for example, will cost JPY937,900 (USD$7,890) on weekdays, up from a current JPY893,200, on both Japan Airlines and All Nippon Airways . Dec 23, 2006

Japan Airlines, All Nippon Airways

Japan Airlines and All Nippon Airways have been hurt by high oil prices especially JAL, Asia's biggest airline by revenue but ranked sixth by market value, which in November cut its 2006/07 operating profit outlook by 24 percent after its first-half profit halved. Its domestic routes have also seen sluggish demand due to safety mishaps, including wheels falling off an aircraft's nose-gear during landing, and management infighting that encouraged many travellers to switch to ANA. Dec 23, 2006

Korean Air

Korean Air also said it was aiming to post KRW240 billion (USD$259 million) in pre-tax profit in 2007, up 33.3 percent from this year's expected KRW180 billion (USD$194.2 million), before foreign exchange conversions. Dec 28, 2006

Korean Air

Korean Air Sees 2007 Profit Increase. Korean Air said on Thursday it expects operating profit next year to rise 14.3 percent, helped by route expansions in emerging markets, including China, and cheaper fuel. Korean Air said on Thursday it expects operating profit next year to rise 14.3 percent, helped by route expansions in emerging markets, including China, and cheaper fuel. Like other global airlines, Korean Air should gain from increased global traffic demand and weaker oil prices. A stronger won also helps the firm to cut fuel import costs and to service foreign exchange debt. In September, Korean Air said it would set up a joint venture cargo airline with China's Sinotrans Air Transportation to service China's booming air cargo market. Dec 28, 2006

Qantas, Air New Zealand, British, Cathay Pacific, Singapore, and Malaysia Airlines

Australian travel agents filed an $80 million class action suit against Qantas, Air New Zealand, British Airways, Cathay Pacific Airways, Singapore Airlines and Malaysia Airlines claiming the carriers withheld commissions by citing fuel surcharges as a tax rather than a component of the airfare, the Sydney Morning Herald reported. Travel agents sold 85% of the $16.9 billion in international tickets purchased in Australia from 2004 to 2006, the paper said. The airlines did not comment. Dec 21, 2006

Singapore Airlines

Singapore Airlines flew 7.43 billion RPKs in November, up 10.1% from the year-ago month. Capacity rose 2.8% to 9.28 billion ASKs, lifting load factor 5.3 points to 80.2%. Dec 26, 2006

Spring Airlines

Spring Airlines Discusses Equity Stake Sale. China's Spring Airlines is in talks with and others to sell stakes as the privately owned carrier looks to outside capital to fund expansion, two sources familiar with the matter said on Thursday. Dec 28, 2006

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Dec 11, 2006
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