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Global legacy carriers feel the heat

"Qantas has been through an exceptional period in its history over the past 12 months." When Alan Joyce, the Australian airlines's chief executive uttered the sober statement last week, there were few

Arab spring costs Jordan $1B in lost tourism revenues

AMMAN, Jordan - Political turmoil hitting the region cost Jordan's ailing tourism sector a staggering one billion US dollars in lost revenues, a senior official said today.

Revolution has cost Egyptian economy over $1 billion

The Egyptian revolution that successfully ousted Hosni Mubarak as president has cost the economy more than six billion Egyptian pounds (Dh3.74 billion) in losses in the manufacturing, construction and

Air India refuses to make losses from freebies public

NEW DELHI - The cash-strapped Air India may be looking for a bailout from tax payers' money but is not ready to make public the details about free travel benefits it extends to various individuals and

US airlines have lost 54K jobs in last two years

NEW YORK — U.S. airlines have cut jobs for two straight years, the government said Wednesday, as accelerating layoffs and outsourcing sped up a downward slide that started in 2001.

Airline industry: Ash cloud losses top $1 billion and counting

PARIS — As airline losses from the volcanic ash cloud spiraled over $1 billion on Monday, the industry demanded EU compensation and criticized European governments for not using scientific measures

Hawaii losses offset by 7.2% jump in Maui tourist numbers

A jump in the number of visitors traveling to Maui in February helped offset declines on the other major islands, the Hawai'i Tourism Authority reported yesterday.

Travelport losses close to US$1 billion last year

Travelport Limited, the parent company of Galileo and Worldspan, has announced that for 2009, it experienced a loss of US$869 million.

IATA: International passenger demand up in January

International air travel demand continued to improve in January, the International Air Transport Association reported Tuesday.

Global study shows significant losses from unmanaged hotel programs

Egencia previewed results today from a global study "Hotel Cost Control: Savings and Opportunities," finding that companies risk tremendous annual budget losses through unmanaged travel activity.

Air Jamaica laying off more than 200 workers

KINGSTON, Jamaica - Air Jamaica says is it laying off more than 200 workers as the national carrier struggles with growing losses.

IATA: Airlines’ losses may hit $11 Billion in 2009

Airlines worldwide may lose a combined $11 billion in 2009, $2 billion wider than a previous forecast in June, as fuel costs rise and carriers earn less on fares and cargo, the industry’s main trade

Dalai Lama’s visit costs Taiwan’s tourism industry billions

On the morning of September 4, the Dalai Lama flew from Taiwan, ending his six-day tour there.

IATA: Airline industry lost over $6 Billion first half of the...

LONDON -- The airline industry lost more than $6 billion in the first half of the year, but there are signs that passenger numbers and air-freight volumes are improving, the International Air Transpor

SAS cuts more jobs

STOCKHOLM — Scandinavian airline group SAS AB on Wednesday said it will cut between 1,000 and 1,500 more jobs to reduce costs after posting another large loss for the second quarter amid falling dem

Airlines’ quest for a silver bullet – higher fares, fewer flights,...

As the recession drags on with little sign of abating anytime soon, airlines worldwide are grappling with huge losses and dwindling demand for their services.

In the airline industry, failure isn’t an option, it’s a necessity

Somewhere in Washington, there's probably a bucket with some airlines' names on it.

June likely was the worst month for airline insurers since 9/11...

NEW YORK - Airline insurers in June likely posted their biggest monthly loss since the Sept.

Mexico’s tourism industry loses 140,000 jobs

MEXICO CITY - Mexico's tourism and services industry saw 140,000 job cuts during the flu-hit period of April and May, a business organization said Monday.

Virgin to get rid of Nigerian airline

Virgin Atlantic is to pull its brand name from Nigeria's national airline Virgin Nigeria and sell its stake in the company.

Bisignani: Airlines are facing an “emergency situation”

KUALA LUMPUR, Malaysia — The International Air Transport Association called for more liberalization to bolster the global airline industry, which is expected to lose more than $4.7 billion this year

British Airways reports worst quarterly loss as fares slump

LONDON - British Airways, Europe's third-largest long-haul airline, on Friday reported its worst quarterly loss since records began as it reduced tickets prices to stimulate demand amid a sharp slowdo

Iberia Airlines to make cuts after poor results

Iberia Airlines has said it plans to cut jobs and target pay to save more than €200 million ($272 million) after announcing worse-than-expected Q1 results Tuesday.

US airlines see demand slump leveling off?

When you have been underwater for as long as the U.S. major airlines, touching bottom can be a relief.

American Airlines doles out bonuses despite $375 million loss

American Airlines is bleeding money, and its unions say they are subsisting on peanuts in coach while corporate executives sip champagne in first class.

Cathay Pacific posts record losses, sees challenging ’09

HONG KONG - Cathay Pacific Airways Ltd, Hong Kong's dominant airline, on Wednesday posted a bigger-than-expected $1 billion second-half net loss, a record, and warned that the year ahead will be "extr

Boeing wins 777 orders; Avoids more 787 losses

CHICAGO - Boeing Co. said Thursday that it had secured orders for three 777 aircraft over the past week and avoided any more cancellations for its 787 and other models.

Airlines face $8 bln in losses for 2008: IATA

Estimated airline losses in the fourth quarter were $4 billion, significantly higher than first expected and leading to a total 2008 loss of $8 billion, according to a Monday report from the Internati

Continental, US Air bring group loss to $1.35 Billion

Continental Airlines Inc. and US Airways Group Inc. posted wider fourth-quarter losses on wrong- way bets on fuel contracts, bringing the combined operating deficit for the 9 biggest U.S.

Losses widen at United, American

American Airlines parent AMR and United Airlines parent UAL reported wider fourth-quarter losses and said they will cut more flights because of slowing demand for air travel.