Korean Air has reported its first quarterly operating loss in five years - $112 million in the three months to the end of June and has blamed surging oil prices and weaker demand.
International passenger growth slowed to just 2.1% in the quarter while domestic traffic contracted by 2.5% year on year. The operating and net results were however better than market expectations.
Cayman Airways, the national carrier of the Cayman Islands has successfully completed the new IATA Operational Safety Audit (IOSA) following a stringent assessment by IATA accredited organization Morton, Beyer, Agnew of Washington.
It covered key areas of Cayman Airways structure including corporate organization and management structure, flight operations, flight dispatch, aircraft engineering and maintenance, ground handling, cargo operations and airline security.
China’s Hainan Group plans to launch a new airline. Qian Tang Air will be based in Hangzhou and aims to start with three leased Airbus A320s.
Malaysia Airlines has recorded a net profit of RM400 Million in the second quarter of 2008 on 8% higher revenues. This is its eigth consecutive quarter of profitability.
In Flight News