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News: International Airlines Group sees profits rise during financial 2017

International Airlines Group has reported pre-tax profits of €2.49 billion for the year ended December 31st, up 5.6 per cent on the figure of €2.36 billion recorded the year before. The group – which controls British Airways, Iberia, Vueling, and Aer Lingus – said revenue for the year was up 1.8 per cent to €22.97 billion. Following the results, the airline group said it would launch a €500 million share-buyback program and declared a dividend of 14.5 cents a share. IAG chief executive Willie Walsh said: “All our airlines performed…

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News: Qantas Group reports record results for second half of 2017

Qantas Group has delivered its highest-ever first half underlying profit before tax, reporting a figure of $ 976 million for the six months ending December 31st. The result surpasses the previous record of $ 921 million achieved in the first half of financial year 2016 and comes despite recent increases in fuel costs and continued international capacity growth. Both underlying and statutory profit before tax were significantly higher, up 15 and 20 per cent respectively, than the first half of 2017. Qantas Group chief executive Alan Joyce said the record…

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News: Norwegian slips into red for financial 2017 as expansion continues apace

Norwegian today reported a net loss of NOK299 million, or £27 million, for financial 2017. Significant costs related to increased fuel prices, wet lease, and passenger care affected results, the low-cost carrier said. In a statement the airline said: “Going into 2018, Norwegian is far better positioned with stronger bookings and a better staffing situation.” The company’s total revenue was almost NOK31 billion, or £2.8 billion, an increase of 19 per cent compared to 2016. A total of 32 brand new aircraft entered the fleet, contributing to capacity growth of…

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News: Hilton sees profits rise following strong 2017

Hilton Worldwide has reported diluted earnings per share of $ 2.61 for the fourth quarter and $ 3.85 for the full year, including, in each case, the provisional effect of tax reform in the US. Adjusted for special items, the figures was $ 0.54 for the fourth quarter and $ 2.00 for the full year Net income at the hotel giant was $ 841 million for the fourth quarter and $ 1,264 million for the full year. This includes a $ 665 million provisional tax benefit for tax reform that…

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From the Newsroom – September 2017

In this month’s From the Newsroom, journalist Kate Aubusson gives The Age subscribers an exclusive behind-the-scenes look into her touching feature story – The Tragedy of Aviana. It was supposed to be a yarn I could knock over in a day: two new parents were trying to comprehend how their seemingly healthy baby could be diagnosed with a terminal genetic condition. Bethan and Jonathan McElwee with their one-year-old daughter Aviana. Photo: Alex Ellinghausen I called Aviana’s mum, Bethan and we were still on the phone long past deadline. I hung up…

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