UAE budget carrier Air Arabia said quarterly net profit rose 11.7 per cent, beating analysts' forecasts, as a hike in fuel costs was offset by a rise in number of passengers seeking low-cost flying options.
Air Arabia earned a net prof
National carrier Oman Air registered a loss of RO110 million ($286 million) in 2011 on higher fuel costs and other expenses despite a 35 per cent jump in its revenues which hit $809 million.
Oman Air said its move towards long-term pr
Royal Jordanian (RJ), the national flag carrier, has decided to reverse its intention to suspend operations to Munich which was supposed to be closed for sales as of April 19.
On February 7, RJ announced its decision to stop operating to f
Franco-Dutch airline Air France-KLM warned that a soaring fuel bill would hit profits this year after it swung to a loss in 2011 and scrapped its dividend.
With fuel costs expected to increase by 1.1 billion
Royal Jordanian (RJ), the national carrier of Jordan, has suspended operations to five destinations on its route network in order to reduce the operating costs brought up by the soaring fuel prices and to offset the decline in tourism.
Gulf airlines placing multi-billion dollar jet orders are increasingly looking to hedge their fuel purchases to help offset ballooning fuel costs which threaten to crimp expansion.
Gulf airlines unveiled impressive growth plans this week a
Fuel costs now account for a staggering 43 per cent of airline costs, compared to 12 per cent a decade ago, said the president of Emirates, the leading international airline of the UAE.
Tim Clark highlighted fuel prices among other challen
British Airways posted a fall of 88 per cent in first quarter profit and said the trading environment was the worst the industry has ever faced as high oil prices, the economic slowdown and weak consumer confidence hit.
The British carrier