Financial

El Al Israel Airlines reports first quarter of 2009 financial Results. Revenues in the first quarter amounted to $346.7 million compared to $469.3 in the same quarter last year, a drop of about 26%. The decline in revenues from operations is mainly due to a decrease of about 13% in the number of passengers, compared […]

Air Berlin reported that for the first quarter of 2009, seasonal operating loss (EBIT) reached minus EUR 87.3 million (Q1 2008: minus EUR 68.6 million). The reduced branchwide demand for flight services, in combination with the Easter flight season falling in April rather than in the first quarter, contributed to this development. Revenue reached EUR

Virgin Atlantic said that pretax profits increased to

BA released its preliminary results for the 12 months ended March 31, 2009. BA reported an operating loss of

The Emirates Group has reported its 21st consecutive year of net profit for its 2008-09 financial year despite unprecedented challenges for the airline and travel industry. The Group

ExelTech announced that on May 19, 2009 it has successfully renewed its $7 million credit facility with a Canadian chartered bank. This new credit facility replaces the previous facility with the same bank and bears new covenants which ExelTech expects to be in compliance with. The Corporation currently has outstanding approximately $2.3 million in principal

Regional Express Holdings Limited (Rex) announced a group net profit before tax for Q3 2009 $7.5 million, a decrease of 6.3% over last year. The year to date profit before tax increased by 1.9% to $21.9 million. The company has advised that its net earnings for the full financial year could be up to 10%

Air France/KLM reported that the operating loss amounted to 129 million euros versus income of 1.41 billion euros at 31st March 2008. Adjusted operating income stood at 91 million euros and the corresponding adjusted operating margin at 0.4%, down 6.3 points. The loss from operating activities stood at 193 million euros, compared with income of

Singapore Technologies Aerospace has acquired all the shares of Precision Products Singapore (PPS) from Nippon Precision Casting Corporation, Renaissance Capital Management Limited and Singapore Technologies Industrial Corporation respectively. The acquisition was for a cash consideration of S$7.65 million. With this purchase, PPS becomes a wholly-owned subsidiary of ST Aerospace. This acquisition is not expected to

Avcorp announced its financial results for the quarter ended March 31, 2009. During the quarter ended March 31, 2009, the Company recorded a loss from operations of $1,989,000 on $22,087,000 revenue, as compared to $183,000 earnings from operations on $31,151,000 revenue for the same quarter of the preceding year; and a net loss for the