Business: Good week - Bad week

Good week

© Delta Airlines

DELTA AIR LINES The carrier only lost $246 million before taxes in the first quarter, which is rather better than the $794 million it dumped in the period a year ago. Operating revenue was up 2% at $6.8 billion, and while losses were blamed on bad weather and ongoing restructuring, including $46 million spent toward the merger with Northwest Airlines, chief executive Richard Anderson expects positive trends to make the airline "solidly profitable" in the current quarter.

 

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Bad week

© Airbus

LAN SHILI Things can not get much worse when your business has been bankrupt for eight months, but now the owner of Chinese carrier East Star Airlines has been jailed for four years for tax evasion. A court in Wuhan found Lan guilty of ordering staff to hide more than 500 million yuan ($73 million) of revenue to avoid paying 50 million yuan in taxes. He disappeared during takeover negotiations with Air China last year, and was arrested trying to leave the country.

 

 

Source: Flight International