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Thursday, August 25, 2011

Mixed financial results

There have been mixed financial results announced by the airlines in the Australasian region, with the two big ones who quietly go about their business reporting losses, while the outspoken one who claims to be failing has reported a healthy profit.



Qantas bullish after earning $552M
QANTAS officials say demand at the airline remains robust even as it heads into an operating environment that is "challenging and volatile".
Executives yesterday said the domestic market had pulled back on the big capacity growth of last year, but demand remained strong, with seat factors -- the percentage of seats filled by paying passengers -- holding up well.
To me this seems to fly in the face of everything Alan Joyce said last week at the announcement of "a new spirit"
But it is good news for the national carrier, but will add some fuel to the fire that is the current fight with unions, with the unions expected to use the profit as justification for their pay increase demands.



Virgin Blue FY loss of $67.8M

VIRGIN Blue Holdings Ltd has reported a full year loss as the airline expects an improvement in financial performance in 2012.
"There are early indications of improving earnings in financial year 2012, with positive trading results in July and continued strengthening in the government and corporate markets,'' chief executive John Borghetti said in a statement today.
Virgin Australia have had a revenue increase but have still reported a loss, but unlike their competitor they still see a future with Australian based labour.



Air NZ profit plunge
Air New Zealand has announced a 45 per cent plunge in profits, thanks to the effects of the Christchurch and Japan earthquakes and ongoing high fuel prices.
While still announcing an overall profit Air NZ have seen a loss compared to the previous year, not a bad result really considering the impact of the CHC earthquake on the domestic market, and their large Japanese market effected by the Japan earthquake.


Regional Express dogged after a rough year
REGIONAL Express says full-year profit has fallen due to high fuel prices, natural disasters and the ending of tax incentives.
Like Air NZ, Rex have still recorded a full year profit despite the figure being well down on the previous year.


 Jetstar ready for growth after another record result
Jetstar's underlying earnings before interest and tax was $169 million, up 29 per cent on the previous year, as capacity grew 19 per cent and passenger numbers soared 14 per cent to 18.8 million.
Jetstar are set for a 19% capacity growth in the current financial year, partly due to the "a new spirit" changes with the vast majority of growth coming in the asian market, including Jetstar Japan, althought Jetstar domestic could see an 11% increase.


There has as yet been no announcement from Tiger but I would suspect they would have continued with the recent for of recording a loss.

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