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NewsCitilink swings back to profitability in 2019
Indonesian low-cost carrier Citilink posted an operating profit of $67.8 million in 2019, marking a return to profitability for the Garuda Indonesia subsidiary. This is a significant turnaround for the airline, which recorded an operating loss of $54.6 million in 2018, Garuda’s 2019 annual report shows. Revenue for ...
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Air China warns of 'short term' loss from outbreak
Air China has joined a growing list of airlines in warning of an operating loss “in the short term”, as the coronavirus outbreak continues to wreak havoc. Discussing the outlook for 2020 in its full-year results, the Air China group noted the impact that the outbreak — which originated ...
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Air China 2019 profit inches up 2.1%
Lower expenses, coupled with more passengers carried, helped push Air China’s 2019 operating profit slightly higher. It posted a full-year profit of CNY14.6 billion ($2.06 billion) for 2019, an increase of 2.1% compared to the previous year. Group revenue for the year fell marginally — at about 0.4% ...
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China Eastern sees ‘significant uncertainty’ in 2020
China Eastern Airlines enjoyed a boost in operating and net profit last year while strengthening its cash position, but the coronavirus pandemic is creating “significant uncertainty” in 2020. The Shanghai-based carrier’s operating profit gained 8.3% to CNY10 billion ($1.4 billion) for the year ended 31 December 2019. Net ...
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Ticket refund burden to compound airline Q2 losses: IATA
A requirement to refund an estimated $35 billion in airline tickets during the second quarter will deepen the impact on their cash reserves on top of a projected industry loss of $39 billion for the quarter.
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Emirates to receive capital injection from Dubai government
Emirates is to be given a capital injection by the Dubai government, to support the Middle Eastern airline in the aftermath of the coronavirus outbreak. The operator – which has a fleet of Airbus A380s and Boeing 777s – has suspended passenger flights in line with United Arab Emirates ...
