For the first time through the current spell of airline instability, an airline is seeking the government’s financial help to survive.
The International Air Transport Association on Monday further downgraded its 2011 airline industry profit forecast to $4 billion, which would represent a 78 percent drop compared to last year.
Delta Air Lines on Monday announced it had reached an agreement to buy a disused oil refinery near Philadelphia, a move which many industry pundits promise to puzzle over for years to come. Monroe Energy, a wholly-owned subsidiary of Delta, will buy the Trainer Oil refinery in Trainer, Pennsylvania — on the Delaware River about [...]
Sky-rocketing fuel prices, a drop in passengers and foreign currency shortages have forced Iran’s aviation sector into turbulent times.
