Cathay Pacific has reported a 61 per cent drop in annual profits and says tougher times are ahead. The Hong Kong based airline blamed the weaker than expected result on a familiar combination of high fuel prices and global economic instability, factors the carrier says have worsened during the early part of this year. “As
Qantas has moved to block plans by Virgin Australia to alter its ownership structure and allow greater foreign investment. In a submission to the International Air Services Commission, Qantas called for a “comprehensive, public review” of Virgin’s plans, which were announced last month and would go into effect at the end of March. Virgin proposed
Oil leaks that hit two Qantas A380 flights last year were part of a wider problem with the aircraft’s Rolls-Royce Trent 900 engine, the ATSB has reported. The safety agency said Rolls-Royce, Qantas and Airbus have since taken “proactive safety action” to mitigate the problem, which stems from a loose connection with an external oil
Century Tokyo Leasing Corp will buy a 16.7 per cent share in Jetstar Japan from Mitsubishi, the Japanese Nikkei reported. Mitsubishi currently owns a 33.4 per cent stake in the start up budget carrier, which is scheduled to commence flights in July. Qantas and Japan Airlines each own 33.3 per cent of the carrier. Century
The Australian Competition and Consumer Commission has launched legal action against Flight Centre over claims the travel agency attempted to fix airline ticket prices. The ACCC says that between 2005 and 2009 Flight Centre tried to induce Singapore Airlines, Malaysian Airlines and Emirates to stop offering lower prices on their websites than the fares offered
One of the key pillars of Qantas’s strategy to revive its international business came toppling over today as the airline said it had broken off talks with Malaysia Airlines to establish a new premium carrier. Qantas offered few details, saying only that the talks “would not continue due to parties being unable to reach mutually
