Posts tagged "earnings"
17 May 2013
16 May 2013

  • Virgin Atlantic pegs $107 million loss on slow economy and Olympics impact

    Transport

    U.K. billionaire Richard Branson’s Virgin Atlantic Airways Ltd. posted a full-year loss of 69.9 million pounds ($107 million), hurt by higher costs, sluggish economies and a dip in business travel during the Olympic Games. The main airline division had a loss of 93 million pounds, which was partially offset by a one-time gain of 35.4 million pounds [...]

  • Singapore Airlines plans cuts after weaker-that-expected full-year results

    Transport

    Singapore Airlines Ltd reported weaker-than-expected full-year results and warned of a deteriorating environment as it struggles to cope with the rapid emergence of Gulf carriers and low cost Asian rivals. SIA is attempting a big strategy overhaul, pushing into the budget airlines segment and expanding its regional network. State-backed Emirates Airline, Etihad Airways and Qatar [...]

  • Virgin Australia sees stock drop after another earnings warning

    Transport

    Virgin Australia Holdings Ltd., Australia’s second-largest carrier, dropped the most in 22 months in Sydney trading after forecasting that annual profit would slip for the third time in five years. The stock fell as much as 8.7 percent to 42 Australian cents, headed for the biggest drop since July 2011, before trading at 43 cents [...]

15 May 2013

  • Kayak first quarter profit plummets in last hurrah as independent company

    Digital

    Kayak’s first quarter profit fell more than 48%, compared with a year earlier, as the travel metasearch company increased its stocked-based compensation, and spending on brand and online marketing. Kayak filed its results with the Securities and Exchange Commission yesterday, and it could be the final time such detail is publicized as Priceline’s $1.8 billion [...]

13 May 2013

  • Virgin America’s losses finally begin to narrow as it eyes profitability

    Transport

    Virgin America Inc., the low-fare airline partly owned by U.K. billionaire Richard Branson, narrowed its first-quarter net loss by 39 percent and restructured debt to lower interest expenses. Virgin America also modified terms with some creditors, which eliminated $290 million of debt and will trim interest expense in the second half of the year by [...]

10 May 2013

  • TUI Travel has sunnier earnings forecast because of extended wintry weather

    Digital

    TUI Travel Plc, Europe’s largest tour operator, said full-year earnings are likely to be higher than previously forecast after wintery weather that persisted until Easter boosted bookings from Britain to Scandinavia. Annual operating profit will increase at least 10 percent, according to the Crawley, England-based company, which had said on March 27 the advance would [...]

  • Iberia continues to drag down British Airways as IAG’s losses add up in Q1

    Transport

    International Airlines Group reported wider first-quarter operating losses on Friday, as deepening trouble at its Spanish carrier Iberia wiped out progress at British Airways. IAG, Europe’s third-biggest airline group by market value, made an operating loss of 278 million euros ($364 million) in the year’s first three months, traditionally weak for airlines. The Spanish carrier [...]

09 May 2013

  • Hotel bookings propel Orbitz first quarter profit

    Digital

    Online travel agency Orbitz Worldwide Inc. said Thursday it turned a profit in the first quarter thanks to higher hotel room bookings and sales of its vacation packages. The Chicago company reported a profit of $146.2 million, or $1.34 per share in the quarter that ended March 31, compared with a year-ago loss of $6.5 [...]

  • Emirates fast growth produces a 52% increase in profits this fiscal year

    Transport

    The Dubai-based Emirates airline says its annual net profit rose by 52 percent as the carrier’s fast growth outpaced rising fuel costs. Emirates said Thursday that the airline posted $622 million in net profit in the 2012-2013 fiscal year. The Emirates Group, which includes a travel services division, reported a 34 percent jump in net [...]