Ailing Austrian Airlines reports 1H, Q2 losses amid ‘extremely weak demand’

October 14th, 2009 S&P downgrades Southwest Airlines 1 notchDALLAS — Standard & Poor's downgraded Southwest Airlines Co. one notch on Wednesday, citing lower demand for travel and weak pricing that have cut into the company's earnings and cash flow.

September 15th, 2009 A look at expected airline losses around the worldThe International Air Transport Association predicted on Tuesday that the industry will lose $11 billion this year. But the picture is varied in different parts of the world: — North American carriers are expected to lose $2.6 billion.

September 10th, 2009 Airline traffic continues to declineDALLAS — Summer has come and gone without giving much lift to the nation's airlines. The carriers offered fewer flights than a year ago, and they slashed prices to fill even that reduced supply of seats, according to August traffic reports released over the past week.

August 28th, 2009 EU clears Lufthansa's Austrian Airlines takeoverFRANKFURT — German airline Deutsche Lufthansa AG said Friday the European Commission has approved its takeover of Austrian Airlines Group, allowing it start integrating the company in September. Cologne-based Lufthansa is taking over about 42 percent of the shares of Austrian Airlines owned by the government for about €336,000 ($480,000), according to the European Commission.

July 31st, 2009 EU to OK Lufthansa bid for Austrian AirlinesBRUSSELS — The European Union's antitrust chief says she will clear Lufthansa's bid for Austrian Airlines. EU Competition Commissioner Neelie Kroes said Friday that EU governments and the European Commission would still have to formally approve the takeover.

July 28th, 2009 Lufthansa seeks Austrian merger deadline extensionFRANKFURT — German airline Deutsche Lufthansa AG said Tuesday it has applied for a month-long extension to the deadline to merge with Austrian Airlines in order to fulfill certain obligations for the deal. In a brief statement, the Cologne-based airline said it had applied to the Austrian Takeover Commission for the extension — to Aug.

July 17th, 2009 EU: Lufthansa makes new offer for AustrianBRUSSELS — Lufthansa has made a new offer to try and soothe antitrust concerns over its bid for Austrian Airlines, European Union regulators say. EU spokesman Jonathan Todd said last week that chances of Lufthansa winning regulatory approval for the deal by July 31 were fading fast because the company was not doing enough to eliminate competition concerns that the deal would reduce choice and hike fares on some routes.

July 10th, 2009 EU warns Lufthansa on Austrian takeoverBRUSSELS — European Union regulators charged Friday that Lufthansa AG has not done enough to allay antitrust concerns over its bid for Austrian Airlines and they are now unlikely to approve it by the end of the month. Lufthansa has the right to pull out of the takeover if EU approval doesn't come through by July 31.

July 3rd, 2009 Brazil stocks down again after US job lossesSAO PAULO — Brazilian stocks are down for the second day in a row after weak U.S. jobs data raised doubts about recovery for the world's biggest economy.

July 2nd, 2009 Austrian Airlines to cut 1,000 jobsVIENNA — Austrian Airlines, the ailing carrier due to be taken over by Germany's Lufthansa AG, said Thursday it will cut about 1,000 jobs by mid-2010 as part of an effort to boost its competitiveness. In a statement, the airline said the downsizing would happen in stages and include layoffs.

June 8th, 2009 World airlines seen losing $9 billion this yearKUALA LUMPUR, Malaysia — The world's airlines will collectively lose $9 billion this year — nearly double the previous projections — and face a slow recovery as the economic crisis saps air travel and cargo demand, an industry body warned Monday. The International Air Transport Association, which represents 230 airlines worldwide, increased its loss estimate from the $4.7 billion it forecast in March, reflecting a "rapidly deteriorating revenue environment." Although there has been growing signs of a bottoming out of the recession, IATA said the industry was severely hit in the first quarter with 50 major airlines reporting losses of more than $3 billion.

May 14th, 2009 Singapore Airlines profit plunges as demand wanesSINGAPORE — Singapore Airlines Ltd. said its January-March profit plunged 92 percent as travelers cut down on trips amid a global economic slowdown.

May 5th, 2009 American Airlines reduces flights to MexicoDALLAS — American Airlines said Tuesday it will reduce the number of flights to Mexico by about one-fourth, joining most other major U.S. carriers in reacting to falling demand amid public worry over the swine flu.

April 28th, 2009 China Southern Airlines 1Q profit down 71 percentBEIJING — China Southern Airlines Ltd., one of China's three major state-owned carriers, said Tuesday its profit fell 71 percent in the first quarter from a year earlier amid a slump in traffic. Profit for the three months ending March 31 was 222 million yuan ($32.4 million) or 0.03 yuan per share, the carrier said.

April 9th, 2009 VIENNA - An Austrian court stopped a case of motherly love gone too far by fining a 73-year-old woman for calling her son up to 49 times per day, the daily Kleine Zeitung reported Thursday. The court in the southern Austrian town of Klagenfurt convicted and sentenced the woman to a fine of 360 euros ($476) for stalking her grown son for two and a half years.