hedging
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CHINA: China Eastern in black, Shanghai Air sees red
China Eastern Airlines has returned to the black in the first half of 2009 with a net profit of CNY 1.174 billion (US$171.8 million), in a large part due to state subsidies and reduction of its losses from fuel hedging. On the contrary, Shanghai Air…
01 September 2009
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HONG KONG: Cathay posts H1 profit
The Cathay Pacific Group reported a profit of HK$812 million (US$104.8 million) for the first six months of 2009, compared to a loss of HK$760 million in the first half of 2008, thanks primarily to a HK$2.1 billion fuel hedging gain. Overall the gro…
01 September 2009
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Philippine Air sinks further into red
Philippine Airlines, a subsidiary of PAL Holdings Inc, incurred a net loss of US$113.8 million for the fiscal first half ended Sept 30 and widened that loss in the third quarter ending 31 December with a massive US$215.9 million loss. The third qua…
23 February 2009
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Korean sees crude prices at US$75/bbl in '09
Korea Air Lines, the world's largest cargo airline, said it expects US crude oil prices to average US$75 a barrel in 2009, down from US$99.75 a barrel in 2008. As a result, the country's two carriers, Korean Air and its smaller rival Asiana Airl…
11 February 2009
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HONG KONG: Cathay loses US$980M on hedging gamble
Cathay Pacific Airways has joined many of its counterparts in reporting huge fuel-hedging losses, plunging the previously profitable Asian carrier into an expected record loss for last year, theSouth China Morning Post reported. The loss on Cathay’s…
01 February 2009
