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Boeing 787 Dreamliner lands on one engine after oil pressure problem – Latest News

Tuesday, March 11th, 2014

(CNN) — A Boeing 787 Dreamliner operated by Japan Airlines (JAL) was forced to land prematurely in Hawaii, after pilots shut down one of its engines.

Dreamliner 787 Cockpit - ViPTRiP.co.nz

Dreamliner 787 Cockpit

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Lack of guarantee may ground KingFisher

Tuesday, March 20th, 2012

Lack of guarantee may ground KingFisher

News reports state that Airport Authority of India (AAI) has said that they will have to ground Kingfisher Airlines if the company does not give a guarantee, sources said. Click to continue »

Cathy Pacific profits plunge 62%

Monday, March 19th, 2012

Cathay Pacific

News reports state that Cathay Pacific (CX) Group posted a net profit of HKD5.5 billion ($709 million) for 2011, down 62% over net income of HKD14.05 billion in 2010. CX said the results were affected by “persistently high jet fuel prices” and weak cargo demand due to “instability and uncertainty in the world’s major economies.”

Operating revenue climbed 9.9% to HKD98.4 billion while operating expenses jumped 19.4% to HKD92.9 billion. Fuel costs rose 37.5% to HKD38.88 billion.

Cathay Pacific Airfare Specials Auckland to Japan, China, Europe, South Africa,  Singapore

GMC Airlines suspended by IATA

Tuesday, March 6th, 2012

6 March 2012
News reports state that The International Air Transport Association (IATA) has suspended Bangladesh’s largest and oldest private carrier GMG Airlines Ltd from its billing and settlement plan (BSP) as the carrier failed to pay dues. Click to continue »

American Airlines parent AMR losses US$234 in January

Friday, March 2nd, 2012

2 March 2012

News reports state that despite operating under Chapter 11 status it has not stopped the huge losses at American Airlines (AA) parent AMR Corp. Click to continue »

Malaysia Airlines in crisis, largest loss in history

Thursday, March 1st, 2012

1 March 2012

News reports state that Malaysia Airlines recorded a stunning net loss of RM2.52 billion for 2011 and the company is now in “crisis”, the national flag carrier said today. Click to continue »

news update… Air New Zealand profits down by 61%

Friday, February 24th, 2012

24 February 2012.  News reports state that Air New Zealand has announced a big slump in profits and warned that it is cutting more than 400 jobs. Some staff will be made redundant, others will not be replaced when they leave, and more will not get their contracts renewed. The airline’s six month net profit, after tax, was down by 61 percent to $38 million. One contributing factors for deepening financial problems and profit loss might be the lack of cooperation with local travel agents (zero commission policy plus additional fees)

The Market says Rob Fyfe has failed” So the departing CEO of Air New Zealand Ltd [AIR.NZX] is leaving his post at the end of 2012 and being lauded by some as a  “rockstar” CEO and the saviour of an airline. According to the market though he is not. If we look at the 7 year chart below – the length of time Mr Fyfe has been with AIR NZ –  we can see that the share price has kamakazied to half the value it was when he took over in 2005.
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Air Australia collapse leaves 4,000 stranded and scrambling for refunds

Saturday, February 18th, 2012

17 February 2012
News reports state that Budget airline serving Asia-Pacific destinations including Hawaii and Thailand went into voluntary administration and unable to pay for fuel Thousands of passengers traveling from Hawaii to Thailand were stranded Click to continue »

Tiger Airways makes loss after grounding

Wednesday, February 1st, 2012

Tiger Airways makes loss after grounding
News reports state that TIGER Airways Australia recorded a third-quarter operating loss of $S8.6m ($6.2m) as its parent spent its third straight quarter in the red. Click to continue »

Spanair ceases flying, thousands stranded

Saturday, January 28th, 2012

28 January 2012
News reports state that “Faced with the lack of financial visibility for the coming months, the company has decided to cease its operations as a measure of caution and safety,” Spanair said in a statement just before 9.30pm last night. Click to continue »

IATA predicts sluggish growth, weak profits next year

Wednesday, September 21st, 2011

21 September 2011
IATA predicts sluggish growth, weak profits next year
News reports state that IATA has warned that the economic outlook for the airline industry has deteriorated since its June update despite the stronger-than-expected surge in the first half.

IATA DG Tony Tyler said the airline industry net profits should total $6.9 billion in 2011 on revenues of $594 billion, up from the previous projection of $4 billion, but well down on the $16 billion achieved in 2010.

“Airlines are going to make a little more money in 2011 than we thought,” Tyler said. “That is good news. Given the strong headwinds of high oil prices and economic uncertainty, remaining in the black is a great achievement.” But Tyler cautioned that $6.9 billion only represented a 1.2% margin. And that margin is going to get worse, Tyler warned, with the 2012 outlook for “a year of sluggish growth and weak profits,” with net profit forecast at just $4.9 billion or 0.8% on revenues of $632 billion.

Tyler said that IATA’s forecast is built around global projected GDP growth of 2.5% in 2011 falling to 2.4% in 2012.

“Airline financial performance is closely linked to the health of world economies. Whenever GDP growth has slowed below 2% the airline industry has lost money. We will be perilously close to that level at least through 2012,” Tyler said. “The industry is brittle. Any shock has the potential to put us in the red.”

Passenger demand is driving the short-term spike with numbers forecast to grow 5.9% to 2.83 billion, up from 4.4%—or 2.79 billion—projected in June.

“The strong travel trend in 2011 is built on residual confidence from economic optimism at the beginning of the year. While some economies may be more durable—China for example—the overall outlook is for a weaker end to 2011.”

Of concern, however, is that world trade basically stopped growing at the end of 2010, said Tyler, noting that airfreight, which has stagnated since the start of the year, is reflecting that slowdown in economic growth. “We have slashed full-year volume growth projection from 5.5% to 1.4%. It appears unlikely that a revival in airfreight will begin before 2012.”

Business confidence in the manufacturing sector of the major economies has fallento just above the 50-level of the index, which indicates that purchasing managers expect growth to stop, said IATA.

Tyler said that oil prices have remained consistent with the previous forecast of $110/barrel (Brent Crude). “This is 39% higher than the $79.4 average price of 2010. A total fuel bill of $176 billion is expected to account for 30% of industry costs,” Tyler said.

“There are likely to be major variations” in regional growth, said Tyler. “European airlines achieved strong growth in 2011 on international markets but the very weak economic outlook for this region is expected to limit growth in next year,” he said. However, IATA expects a solid rebound in the traffic carried by Asia/Pacific airlines with the Japanese economy expected to rebound from earthquake-damaged levels this year.

“Non-Japan Asia is forecast to continue to expand at a strong pace. Growth prospects also remain relatively strong in Latin America and the Middle East, albeit considerably down on the pace of the post-recession period,” Tyler said.

Tyler urged governments to focus on aviation policy as a key part of their economic policy and not to add more taxes to the industry.

“Governments must carefully evaluate the negative impact of the current high levels of taxation, absolutely resist increases or new taxes, and develop policies that support aviation’s growth with efficient infrastructure. Time and again aviation has shown its resilience. People need and want to travel. Now is the time to harness the economic possibilities that this presents,” Tyler said.

Air Zealand profit warning causes shares to plunge

Tuesday, March 15th, 2011

15 March 2011
News reports state that Air New Zealand shares are down almost 6 per cent this morning after the airline warned of a sudden downturn in demand in the wake of the Christchurch earthquake and the Japanese tsunami.
In an unscheduled earnings update the airline said it expected to lose money in the second half of the financial year to June 30, and that full year earnings were expected to be below $100 million.

Christchurch Earthquake! VIPTRIP Flights update

Tuesday, February 22nd, 2011

Christchurch Earthquake …. update….

All VIPTRIP customers have been updated on their new flight itinerary via text and email.

Christchurch Airport is open for selected flights (23/02/2011: 10:00).

Some flights with destination Christchurch will be cancelled or diverted to other airports. Non-VIPTRIP clients please check with your airline / booking office for an update on your itinerary.

New bookings and travel arrangements can be made by calling 022 6090 868 or by email.