global oil market. Greek Minister of Transport Kostas Chatzidakis said OA is one of Europe's worst performing companies and cannot continue in its current form. Fourth-quarter operating revenue was.4 to 697.8 million, while expenses rose.9 to 863.8 million, producing an operating loss of 166 million. OL Airlines goes into liquidation News reports state that the Paraguayan state airline, Sol of Paraguay announced today that it was going out of business because of the economic crisis it has suffered due to the isolation of the country after the constitutional president, Fernando. American took this action in order to achieve a cost and debt structure that is competitive in the airline industry so that it can continue delivering a world-class travel experience for its customers.
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According to the finance minister, the auditors of the report raised a number of technical issues, which need to be reviewed by technical experts before the results can be finalised. Banner, reported a fiscal-year loss of INR2.75 billion following three straight years of profit, including a INR495 million surplus in 2005-06. In a statement the Turkish flag carrier blamed political and economic instability in Europe and Middle East as well as the increased perception of global and regional risks which caused negative impact on canadian dollar exchange forecast aviation demand and placed pressure on yields. That is a process of Irish company law which protects a firm from its creditors while it comes up with a restructuring plan. Chinese carriers post losses News reports state that Chinese carriers reported a net loss of almost CNY200 million (31.6 million) in March, reversed from a collective net profit of CNY1.71 billion in the year-ago month, due to high fuel prices and a decline in cargo. Qantas has on average reduced the age of its fleet.6 years, which has also added to its debt burden. The Mauritanian court ordered Air Mauritanie liquidate its assets following a financial crisis that has plagued the national air carrier for years, a judicial source said Friday.
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