We look forward to promptly and successfully emerging from reorganization in the near future. The aircraft was grounded as the engineers went on a two-day strike demanding their salary dues. The regional carrier, which started operations in July last with one ATR- 72 aircraft, is said to have parked the aircraft in Hosur.
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The owners of the aircraft, Elix Aviation Capital, is now desperately trying to retrieve the aircraft documents to the aircraft from the promoters of Air Carnival. Sources in the know of the development told BusinessLine that the lessor has been after the promoter to retrieve the papers for a week now, in vain. Manufactured in , the aircraft is said to have been operated by Kingfisher Airlines before Air Carnival took it on lease. Volaris CEO Enrique Beltranena said the company "faced a challenging market and geopolitical environment" during the quarter.
Fuel prices increased significantly compared to a year ago, Volaris reported, with the company's average economic fuel cost per gallon rising Shares of Hong Kong's flag carrier fell almost 5 percent after the news.
Cathay had warned its results for the second half of would be weak as it battles falling demand for premium class seats on long-haul routes. It now expects the outlook to remain challenging in as the headwinds continue. Acknowledging the competitive landscape, Cathay recently undertook what was the biggest review of its business in two decades and said it would cut jobs and consider shifting some flights to its short-haul arm as part of a three year programme.
This is only the third time the company has posted a full-year loss since it was founded in Intense and increasing competition with other airlines was the most important," Chairman John Slosar said. Yield on cargo services fell Passenger numbers rose 2. Economic sanctions by Russia after Turkish forces shot down one of its fighter jets reduced traffic from that market in the first half of A statement from Citywing directors this evening March 10 says the company has found it difficult to source aircraft to continue to offer its scheduled services. At the same time, Air Pegasus is unlikely to resume services from tomorrow as announced in January when new investors were roped in.
Facing financial issues with the lessors, Air Costa has decided to ground its two leased aircraft, Embraer E, which can seat over passengers. The airline has only these two planes in its fleet. Rival Air Pegasus too had to shut operations for similar reason in July Prior to suspending its flight services, Air Costa had been operating 16 flights per day to eight destinations. This is temporary halt, starting from today. Its shares and flights had been suspended since Monday. The company has continuously lost money, and its shares have been sliding since the crashes in and raised questions about the safety of its planes.
Forty-eight people were killed. Another plane crashed into the Keelung River in Taiwan in February , killing at least 35 people. The pilot of that plane acknowledged later that he had shut off the wrong engine, according to a report on the crash. The report also said that he had failed a simulator test the previous year but passed a makeup exam.
It is the second time in 10 years that the celebrated airline has not made a profit. The result brought cumulative losses PK reported that net result for the third quarter of was negative Loss per share was 0. Pre-tax loss were The operating result or EBIT amounted to negative The financial result amounted to negative Group revenue for the quarter declined to 1. In a statement the Turkish flag carrier blamed political and economic instability in Europe and Middle East as well as the increased perception of global and regional risks which caused negative impact on aviation demand and placed pressure on yields.
Moreover, increased capacity, led by low fuel prices and increased competition, also affected ticket prices and total revenue. Only Africa and the USA maintained revenue levels for both passenger and cargo traffic During the nine-month period, the carrier transported This includes the impact of restructuring charges. SAA Chairperson Dudu Myeni was briefing the media after releasing the airline's financial statements.
She says the state-owned carrier needs "urgent and radical" action if it is to return to profitability. This would require aggressive cost containment and reviewing flight routes.
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She says the new board appointed in September together with other senior executive members of SAA are doing everything possible to make the airliner financially stable. She says they are also looking to stabilise the liquidity position of the SAA. Although the airliner has reduced its losses.
The board recognises on the issue of reporting losses cannot persist and radical actions are required. If this deal happens, Air Berlin will still be around, but at a more manageable size. Customers who have a ticket from the airline can apply for a refund through the credit card company.
Neither passenger numbers nor revenue kept pace with the additions to seat capacity, and losses have grown. The results confirm statements from finance minister Pravin Gordhan earlier in the week, saying that the airline suffered a R4. According to Gordhan, the airline faces another R1. The airline has accrued losses of over R18 billion over the past 10 years. SAA has also received a number of government bailouts worth at least R The results tabled before parliament are only the preliminary results for SAA.
According to the finance minister, the auditors of the report raised a number of technical issues, which need to be reviewed by technical experts before the results can be finalised. It added that authorities can also stop the company's executives from travelling outside Afghanistan. The finance ministry has allowed the tax office to seek court approval to confiscate and sell Safi Airways property if it fails to meet the payment deadline.
The airline, which was founded in , currently flies three domestic and four international routes. It is the country's second-largest airline after national carrier Ariana Afghan Airlines. Safi Airways transports many expatriates and benefits from the presence of non-governmental organisations, private security companies and other foreign entities in Afghanistan.
The Chief Executive Officer of the airline, Capt. Fola Akinkuotu, said the development was part of the strategic business realignment to re position the airline and return it to profitability. Tunde Gbenro and then Capt. Akinkuotu, the airline owned by the Alex Ibru family could not rise on its feet as its operations continued to shrink. Aero recently suspended its operation to Accra, Ghana, a decision it attributed to unavailability of aircraft. However, the airline announced outright suspension of scheduled services with effect from today. It has asked the affected staff to proceed on leave of absence indefinitely.
The company posted a net profit of million liras in the same period last year. In this vein, Turkish Airlines revised its year-end target to Turkish Airlines, which had estimated some 12 percent of increase in its total fuel consumption, said its average euro-dollar parity prediction is at about 1. Revenue for the six months to 30 June fell 9. Cathay is facing challenges on many fronts - air fares, competition from other carriers and fuel hedging losses.
The airline attributed the sharp downturn to slower global economic growth dragging down corporate travel and hitting sales of lucrative premium class seats. This adversely affected premium class demand, particularly on long-haul routes," the company said in its report. The airline has racked up repeated losses since it was formed in the merger of Chile's LAN and Brazil's TAM, hamstrung by Brazil's economic problems and negative currency effects. Operating result EBIT was a loss of Group revenue was The Group said capacity cuts and adverse geopolitical events in the competitive European market during the second quarter of led to the 9.
A spokesperson said the flights were cancelled due to "technical" issues and denied the company had suspended operations.
Sources, however, said that lessors had taken repossession of some of its aircrafts due to nonpayment of dues. Despite repeated attempts, Air Pegasus managing director Shyson Thomas was not available for a comment. Air Pegasus, which has three seater ATR aircrafts, operates out of the Bengaluru airport and connects nine cities in southern India, including Chennai, Mangaluru, Thiruvananthapuram and Goa.
The airline's website showed that many flights on Wednesday were cancelled, and several for the coming days have also been cancelled. Thomas' company Decor Aviation Private, one of the largest domestic airport ground handling companies, started Air Pegasus last year. Decor provides services across 11 major airports in India. The airline reported a net loss of Ks The stock has dropped 87 per cent in the past five years. Europe has been hit by a string of terrorist attacks.
Last week, a truck driver in Nice killed at least 84 people when he plowed into revelers. Both incidents were linked to Islamic State sympathizers. The Islamic State also claimed responsibility for an ax attack on train passengers in Germany this week. A terrorist attack against Brussels airport in March caused Lufthansa to delay plans to take over Brussels Airlines. The company said its board "regards a complete recovery as not likely anymore. VLM Airlines filed a formal application asking for credit protection in May in order to avoid filing bankruptcy for six months.
In addition, VLM Airlines also reported that its planned sale-leaseback deal for several aircraft in its fleet fell through due to an unsuccessful re-capitalization, as well as several charter clients canceling contracts. In addition, the airline tweeted out the following: "vlm regrets to inform that it has filed for bankruptcy, all flights have been canceled.
When Nordica was established the first-year loss was projected at 9 million to 23 million euros, Tamm said and added that he personally had hoped for a single-digit loss number. According to the company's current plan, the loss is expected to decline from 15 million to 6 million euros next year and shrink further to 3 million euros the following year, after which Nordica might break even or even make a profit in , Minister of Economic Affairs and Infrastructure Kristen Michal said.
Nordic Aviation Group was established last fall to ensure continued direct flights out of Tallinn in the event of Estonian Air's bankruptcy. The new airline started flights in co-operation with Slovenia's Adria Airways after Estonian Air went broke in the wake of a European Commission decision that deemed state aid provided to the company to be unlawful and ordered it to be returned, which Estonian Air was unable to do. The company reported a net loss of First-quarter revenue fell 2. The LCC attributed increased costs to the rise of aircraft lease rental and ongoing maintenance costs from a recent fleet expansion.
Additional pressure came from "domestic low-cost carriers still facing challenges from [local] price wars and oversupply. The announcement was somewhat surprised when the specialist VLM had said in a statement on April 11 that the latest figures showed an improving trend with occupancy rates rose in April and operational yields higher.
She has based three Fokker 50 flying to Berlin Tegel, Dusseldorf and Hamburg, with two round trips per day on each route. It was decided almost simultaneously to remove two routes deemed unprofitable early , linking Antwerp to Geneva and Birmingham.