Air Carriers Expect Growth

Feb. 11, 2004
British Airways fiscal third quarter showed substantial gains over the prior year while its nine-month net earnings through Dec. 31, 2003 declined 42.4%

British Airways’ fiscal third quarter showed substantial gains over the prior year while its nine-month net earnings through Dec. 31, 2003 declined 42.4% compared with the prior-year period. The airline cited the Iraq war and SARS outbreak as significant factors in the decline. Net earnings were $219.1 million for 2003 vs. $380.6 million for the same nine months in 2002.

The Association of European Airlines reported its 31 member carriers expected to post gains of 7.5% in passenger traffic for 2004, including increases of 14% to the Far East, 6% in Europe and on the North Atlantic. Association Secretary General Ulrich Schulte-Strathaus cautioned that 2004 results appear inflated by two major downturns that occurred in 2003. The true growth trend with external effects removed stand at 2.5% to 2.8% growth in Europe and to the Far East and 4.8% on the North Atlantic.

The 10 major U.S. passenger airlines reported a collective loss of $5.49 billion in 2003, half the $10.99 billion loss of 2002. The results include the effects of $2.11 billion in federal security fees and taxes rebated to the industry during the second quarter.

For the first time since 2000, annual revenues actually rose in 2003, up 1.1% over 2002 to $81.8 billion but well below the $97.7 billion generated in 2000.

Latest from Transportation & Distribution

96378710 © Nattapong Boonchuenchom | Dreamstime.com
#53673151@Petar Dojkic|Dreamstime
Trucking Industry Objects to DOL Rule on Contractors
Trucking Industry Objects to DOL Rule on Contractors
Trucking Industry Objects to DOL Rule on Contractors
Trucking Industry Objects to DOL Rule on Contractors
Trucking Industry Objects to DOL Rule on Contractors