Airlines returning to profit

[NM]

Many airlines around the world are reporting returning to profit. Rather than post them all individually, here are some recent reports from ATW Online:

Hawaiian

Hawaiian posts $27.5 million second-quarter profit
Tuesday July 28, 2009

Hawaiian Airlines parent Hawaiian Holdings remained in the black in the second quarter, posting a $27.5 million profit that compared to a $54.3 million surplus in the year-ago period.

Ryanair

Ryanair returns to profit but issues full-year warning
Tuesday July 28, 2009

Ryanair reported a €123 million ($174.6 million) net profit in its fiscal first quarter ended June 30, reversed from a €90.5 million loss in the year-ago period, but it issued a warning that full-year net income will be at the lower end of its previous guidance of €200-€300 million because its full-year decline in yield will be "at or slightly more" than 20%.

Alaska Air Group

Alaska Air Group posts $29.1 million second-quarter profit
Friday July 24, 2009

Alaska Airlines and Horizon Air parent Alaska Air Group reported second-quarter net income of $29.1 million, down 53.9% from a $63.1 million profit in the year-ago period, but said earnings improved excluding special charges owing to significantly lower fuel costs.

JetBlue

JetBlue finds profitable formula, expects full-year surplus
Friday July 24, 2009

JetBlue Airways yesterday reported a $20 million second-quarter profit, reversed from a $9 million loss in the year-ago period, and said it expects to remain in the black in both the third and fourth quarters.

US Airways

US Airways posts profit on fuel hedges, announces inflight WiFi contract
Friday July 24, 2009

A $192 million fuel hedging gain pushed US Airways to a second-quarter net profit of $58 million, reversed from a $568 million loss in the year-ago period when goodwill impairment charges weighed on the bottom line.

And even Boeing

Boeing remains profitable, closes in on 787 fix
Thursday July 23, 2009

Boeing reported a $998 million profit in the second quarter, up 17% from the $852 million earned in the year-ago period, and said it has identified a fix to the defect in the 787's upper wing join area that led to last month's first flight postponement and will release a new schedule for the flight test program before the end of September.

 

[fortymilliondaggers]

Although they say they expect full year profits, I don't believe them. I think airlines desperate for cash are capitalising on a market hungry for good news and have achieved quarterly profits by holding aggressive sales for travel well in the future.

Who knows when oil will go up (which it will) or how far in advance the airlines are or have been capable of hedging. A return to $US140 a barrel would wipe out these modest profits and result in large losses.

 

[Dee Thom]

Afternoon NM, this should mean we can add DJ to this list after CrazyDave98 takes over Bretts job ! Boy, think of all the inside gossip we could get.

Cheers Dee

 

[JohnK]

It is always good to see airlines making a profit as this more than likely means that our booking for a flight 11 months in advance is more likely to be still scheduled at that time.

Tough times ahead for all and if airlines continue to trim costs they should look to make bigger profits when the good times return....