German carrier Lufthansa is taking over UK carrier bmi by purchasing 50 percent of stake owned by bmi’s chairman Sir Michael Bishop. The deal will give Lufthansa the second highest amount of control of air traffic from London Heathrow –British Airways is first. The deal is set to be completed by January 16.
A slowdown in development across Barbados’ famed “platinum coast” is one of the early casualties of the global recession tsunami now rushing up on the island’s shores.
AirTran Holdings, Inc. reported a net loss of $107.1 million, or $0.91 per diluted share for the third quarter 2008, which included non-operating losses related to its fuel hedging program of $41.5 million, which was comprised of $55.5 million of unrealized losses and $14.0 million of realized gains.
JetBlue reported that operating revenues for the third quarter totaled $902 million, representing growth of 17.9 percent over operating revenues of $765 million in the third quarter of 2007, but high fuel prices continued to present a challenge and the airline reported a net loss for the quarter of $4 million.
Starwood Hotels & Resorts Worldwide, Inc. reported third quarter 2008 financial results. Excluding special items, income from continuing operations was $129 million for the third quarter of 2008 compared to $143 million in 2007. Net income was $113 million and EPS was $0.62 in the third quarter of 2008, compared to $129 million and EPS of $0.61 in the third quarter of 2007.
US Airways Group, Inc. reported a net loss for its third quarter of $242 million or $2.35 per share which excluded special charges that totaled $623 million. Special charges in the third quarter 2008 included $488 million of unrealized losses resulting from mark-to-market adjustments on fuel hedging instruments.