Last week we reported on the massive loses made by national carrier Air India on 57 of its 59 international flights. Over the next few days we will bring you differing points of view on Air India’s international operations. Today is from a professional analyst at one of the world’s leading aviation consulting and advisory practices. He cannot be named …
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Embattled low fare carrier SpiceJet, reported a loss before tax of Rs 124.10 crore (approx. $20.8 million) for the first quarter of fiscal 2014~2015, ended June. This compared to the profit of Rs 50.56 crore in the same quarter a year earlier. Total income from operations fell to Rs 1,691.04 crore down from Rs 1,701.54 crore in the same quarter …
Read More »India’s largest private airline, Jet Airways, trimmed its losses by almost 39% to Rs.217 crore (approx. US$ 36.17 million at an exchange rate of Rs.60=$1), in the first quarter of fiscal 2014~2015 which ended on June 30, 2014, when compared to the same period a year ago. Much of this performance increase is due to the financial and operational lifeline …
Read More »As per a report in The Economic Times, national carrier Air India has missed its financial performance targets by a huge margin. The airline agreed to these targets with the government in order to receive a whopping Rs.30,000 crore ($6 billion at the time) tax-payer funded bailout. The national carrier already saddled with debts exceeding Rs.40,000 crore ($6.8 billion) has …
Read More »Gurgaon-based budget carrier SpiceJet Ltd., announced an annual loss of Rs. 1,003 crore for fiscal year ending on March 31, 2014. This is the biggest loss in the carrier’s history and represents a five fold increase compared to Rs. 191 crore loss reported last year. Loss for the fourth quarter was Rs. 321 crore up from a loss of Rs. …
Read More »Driven by a 23 percent increase in operations earning in its commercial aircraft segment, the Boeing Company (NYSE: BA) reported first-quarter revenue increased eight percent to $20.5 billion (Table 1). Highlights of the results are Core EPS (non-GAAP)* of $1.76 on continued strong operating performance; GAAP EPS of $1.28 Revenue increased 8 percent to $20.5 billion reflecting higher commercial deliveries …
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On Monday, Middle East Big 3 (MEB3) carrier Etihad Airways announced a record $62 million net profit for 2013, up 47.6% year-over-year (YOY) from $42 million in 2012. The carrier saw total revenue grow 27.1% YOY to $6.1 billion, while expenses rose 26.9% to $6.04 billion. Total capacity as measured in available seat kilometres (ASKs) grew 16.6% YOY while traffic …
Read More »Earlier this week, low cost carrier SpiceJet reported its latest round of disappointing financial results, reporting a Rs. 172.80 crore net loss for the third quarter of fiscal year 2013~2014 (3Q FY14), swinging from a net profit of Rs. 102.01 crore during the same period last year. The carrier blamed high fuel prices and rupee depreciation for the net loss, …
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In response to a series of questions from law-makers, the Indian civil aviation minister Ajit Singh and his junior minister K.C. Venugopal gave some operational insight to the Indian parliament on national carrier Air India. It was the first time, in recent memory where we obtained some numbers on the otherwise very opaque airline. Air India debt and equity As …
Read More »Last week, Mumbai based full service carrier Jet Airways announced that it had recorded a net loss of Rs. 267.89 Crore for the third quarter of fiscal year 2013/14 (FY13/14) or a net pre-tax loss of Rs. 27.12 per diluted share. The result reflects a reversal from a Rs. 85.0 Crore net pretax profit of Rs. 91.78 Crore (Rs. 9.85 …
Read More »India’s largest private airline, Jet Airways group, has reported its fourth successive loss, this time of Rs. 267.89 crore in the third quarter of fiscal 2013~2014, which ended December 31, 2013. The airline made a meagre profit of Rs. 0.85 crore exactly a year ago in the third quarter of fiscal 2012~2013. While this is in line with what analysts …
Read More »By BA Staff The board of directors of Alaska Air Group has approved a quarterly cash dividend of 20 cents per share to all shareholders of record as of Nov. 19. The dividend will be paid on Dec. 4. Air Group paid a quarterly dividend of 20 cents per share in August, the first time since 1992 that the company …
Read More »by Devesh Agarwal Emirates A380. Photo copyright Devesh Agarwal. The Emirates Group, the aviation holding company of the Al Maktoum family which rules Dubai, and the parent of Emirates airline, announced its first half (April to September) results of the fiscal year 2014 (ending March 31, 2014) today. Group The Emirates Group revenues reached AED 42.3 billion (US$ 11.5 billion) …
Read More »by Devesh Agarwal Gurgaon based low fare carrier SpiceJet Ltd., continued the record of disastrous performance in the Indian airline industry when it announced a record Rs. 559 crore loss for the second quarter, ended September 30, of the fiscal year 2013~2014. This compared to the Rs. 163.5 crore loss from the same quarter last fiscal, and a Rs. 50.5 …
Read More »By BA Staff Alaska Air Group, Inc., reported third quarter 2013 GAAP net income of $289 million, or $4.08 per diluted share, compared to $163 million, or $2.27 per diluted share in the third quarter of 2012. Excluding the impact of mark-to-market fuel hedge adjustments of $20 million ($12 million after tax, or $0.17 per diluted share), and a one-time …
Read More »by Vinay Bhaskara and Devesh Agarwal Earlier this week, Mumbai based Jet Airways announced a net post-tax loss of Rs. 355.4 Crore (US $ 59.8 million) for the first quarter of Fiscal Year 2014, reversing from a Rs. 24.7 Crore net profit during the same period a year prior. Total revenues declined a whopping 12.3% to Rs. 4, 064.4 Crore …
Read More »by Devesh Agarwal Cathay Pacific Group FY2012 overall results Hong Kong based, Cathay Pacific Group reported an attributable profit of HK$916 million (approximately $118.08 million) for 2012 – an 83.3% fall compared to the profit of HK$5,501 million reported for 2011, even though turnover for the year increased by 1.0% to HK$99,376 million (approximately $12.81 billion). Earnings per share fell …
Read More »In fiscal 2012 ATR, the French-Italian regional turbo-prop airframer recorded its highest turnover $1.44 billion, and also delivered a record 64 aircraft and increase of 18% over last year. Below is their data along with details of deliveries.
Read More »by Devesh Agarwal As per the budget for fiscal 2013~14, presented yesterday in parliament, the Indian government has earmarked another Rs. 5,000 crore (about $900 million) for equity infusion into ailing national carrier Air India. This is the second tranche of a nine year, Rs. 30,000 crore (about $ 5.5 billion) tax-payer funded equity infusion, which is part of a …
Read More »By Vinay Bhaskara and Devesh Agarwal In a result that represents a positive sign for the prospects of the Indian airline industry moving forward, Gurgaon based low cost carrier (LCC) SpiceJet reported a Rs. 102 Crore (US $19 million) net profit for the third quarter of fiscal year 2012-13 (FY 12-13), a sharp improvement from the results in both the …
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