British Airways on Friday announced a pre-tax loss of 164 million pounds ($256.5 million) for the three months ending June 30.
The airline's chief executive, Willie Walsh, cited strikes by BA cabin crews and closures from the Icelandic volcano as reasons for the loss.
In April, the eruption of a volcano beneath the Eyjafjallajokull glacier in Iceland grounded flights to and from the United Kingdom for several days amid concerns over safety.
Cabin crew staff walked off the job in series of strikes during the quarter in a dispute over pay and working conditions -- a dispute that is yet to be resolved.
In the trading statement Friday, BA said the combined disruptions cost the airline 250 million pounds ($390 million), in line with previous estimates.
REYKJAVIK, Iceland, July 29, 2010 /PRNewswire-FirstCall/ -- Scientists at
deCODE genetics and colleagues at Radboud University in the Netherlands today
describe how the impact of a single letter variation in the sequence of the
human genome (SNP) conferring risk of kidney disease varies with age
VANCOUVER, July 28 /PRNewswire-FirstCall/ - Magma Energy Corp. (TSX: MXY) is responding to comments that have been made by the government of Iceland at a recent press conference. Magma understands that the government has announced its intention to establish a committee respecting foreign investment
Alaska Air Group Inc. said it's signed a codeshare with Icelandair that will allow passengers on Alaska Airlines and Horizon Air to earn frequent flier miles on the national carrier of Iceland. (ALK)
SINGAPORE: Singapore Airlines, the world's second-largest airline by market value, said yesterday a recovery in passenger and freight traffic should be sustained in the near term after posting better-than-expected first quarter profit.
Global airlines are recovering from the worst downturn in aviation history, but some analysts doubt if the rebound can be sustained with the euro zone debt crisis threatening demand for long-haul flights.
Singapore Airlines said: "Advance bookings indicate that the year-on-year recovery in passenger carriage and yields evident in the quarter to June will hold up for the rest of 2010.
"Similarly, leading indicators...suggest that recent resurgence in air freight may be sustained in the near-term, although the rate of growth may abate.
The International Air Transport Association said this month global airlines will turn a US$2.5 billion (US$1 = RM3.19) profit this year, a.....
Longtime commodities guru Peter Krauth touched off a real media buzz earlier this year when he publicly predicted that gold would hit $5,000 an ounce in the next few years - a projection he stands behind.
But here's the irony.
While Krauth's prediction would represent a total return of about 320% over that multi-year span, he says the potential returns on some of the near-term profit plays he's looking at are even bigger.
"These near-term opportunities are significant because the companies that explore and/or produce gold are leveraged to the price of gold," Krauth said in an interview with Money Morning. "So a 10% to 20% rise in gold's price could cause the share prices of some of these firms to gain 20% to
"The moral of the story seems to be that if you’re going to have a crisis, it’s better to have a really, really bad one," said Paul Krugman regarding Iceland. "While this NYT article has probably recruited a few newbie Keysians, it is totally screaming for a rebuff … considering Iceland pretty much went belly up in 2008 with the collapse of its three largest banks, and has been in crisis mode ever since," counters Dian Chu in this interesting post.
Please visit my website (by clicking on the heading above) for the full article, as well as other interesting investment snippets.
"...although Iceland is generally considered to have experienced the worst financial crisis in history, its punishment has actually been substantially less than that of other nations."
To back it up, Krugman provided a chart (below) comparing the GDP of Iceland toIreland, Latvia, and Estonia since the 4th quarter
Illinois made headlines a few weeks ago when it overtook California as the worst credit risk among American states. Now, the fifth most populous state in the U.S. has officially overtaken Iceland in the default risk category as well. (See screenshot below from CMA site today)
Iceland, as we know, suffered from one of the largest banking collapse in 2008, essentially went bankrupt, and has been stuck in the "2008–2010 Icelandic financial crisis” ever since. (see CDS chart from CMA)
So, for Illinois to jump ahead of the Arctic country, in terms of default risk, is no small feat,.....
Illinois made headlines a few weeks ago when it overtook California as the worst credit risk among American states. Now, the fifth most populous state in the U.S. has officially overtaken Iceland in the default risk category as well. (See screenshot below from CMA site)
Online gamers received quite the scare last week when Blizzard announced it would require message board posters to use their real names. This was to be done in order to fight the scourge of online anonymity. The Internet freaked out, of course, so much so that Blizzard eventually changed its mind. I mention this up to not open old wounds, but to take the time to remind you of this: there are other MMOs in the world besides World of Warcraft. In fact, I’ve been playing one such MMO, the outer space-themed Eve Online(developed by Iceland’s CCP Games), for several days now. Come, let us enter a world (universe, really) of spaceships, cross-galaxy pirate raids, and Astronomical Units!.....
REYKJAVIK, Iceland, July 12, 2010 /PRNewswire-FirstCall/ -- Points to
Novel Pathway for Drug Discovery, Will be Incorporated Into Tests to Improve
Screening and Early Detection of Abdominal Aortic Aneurysm, Heart Attack and
PAD
Scientists at deCODE genetics and academic colleagues from the
FRANKFURT, July 12, 2010 /PRNewswire-FirstCall/ -- FraportAG looks back
on an eventful first half 2010 at its Frankfurt Airport (FRA) home base.
FRA's traffic development was slowed by several winter storms, strikes, as
well as the ash cloud from Iceland at the beginning of the second quarter.
: 
All Rights Reserved. 
Online gamers received quite the scare last week when 
