| All News |
| If you want to see all news from the last 100 days in order by date,
click here. |
|
| Search News |
| Enter any query and search the aviation news database |
|
|
 |
|
 |
|
International
Aviation News |
|
 |
|
 |
|
|
|
|
| |
Skymark Cuts Earnings Forecast On Pilot Shortage
|
Japanese discount airline Skymark Airlines cut its annual operating profit forecast by 89 percent on Monday after a shortage of pilots forced it to cancel hundreds of flights.
Japanīs biggest discount airline had said last week it would cancel 10 percent of its flights in June after two pilots left, sending its stock down sharply amid investor speculation its profits would be hit.
The company, which is struggling to boost its presence in a market dominated by Japan Airlines and All Nippon Airways, said it now expects operating profit for the year ending next March 31 to come to JPY100 million yen (USD$950,100).
That is down sharply from the JPY900 million it predicted less than a month ago. It also cut its annual revenue forecast by 2.4 percent to JPY48.3 billion.
Budget travel has been booming in Asia, following a similar trend in the United States and Europe, but carriers have been struggling to secure enough pilots to meet demand.
In addition to the flights cancelled in June, Skymark said it is reviewing its schedule from July.
The cancelled flights include some to Japanīs northernmost main island of Hokkaido, which hosts the G8 summit next month.
Prior to the announcement, Skymark ended down 3 percent at 193 yen, underperforming a 1.5 percent fall in the Tokyo stock exchangeīs Mothers startup market, where its shares are listed.
(Reuters)
|
| |
| News material on the Site is copyright and belongs
to the Company or to its third party news provider, and all
rights are reserved. Any User who accesses such material may
do so only for its own personal use, and the use of such material
is at the sole risk of the User. Redistribution or other commercial
exploitation of such news material is expressly prohibited.
Where such news material is provided by a third party, each
User agrees to observe and be bound by the specific terms of
use applying to such news material. We do not represent or endorse
the accuracy or reliability of any of the info contained in
any news or external websites referred to in the news. |
|
|
|
|
|
|
|
