Crude oil’s plunge to the cheapest level in more than a decade helped the global airline industry boost profit forecasts. One airline that hasn’t fully benefited is Cathay Pacific. The airline reported an unrealised fuel-hedging loss of HK$7.42b (US$954m) as of end-June -- and oil prices have slumped a further 42% since then. The company may announce March 9 that its hedging losses last year ballooned to $8.4b. The carrier hedged much of its fuel requirements at prices higher than those prevailing in the spot market, causing it to report losses from the contracts. Oil’s sudden drop and airlines’ hedging losses are a replay of events in 2008 and 2009, when Cathay, Chinese carriers and SIA all reported millions of dollars in losses because of those contracts. <br/>
oneworld
Qatar Airways has revealed it is planning a new ‘super business class’ seat to close the gap between First and Business class. The airline expects to debut the new seat offer on a Boeing 777 this November. The seat will feature sliding doors to convert it into a suite-like cabin, similar to a concept proposed by British firm DCA Design International for SIA. However, this particular design will be patented and exclusive to Qatar Airways. The airline’s CE Akbar Al Baker said the new seat will “frankly be first class at a business class fare”. He added: “I really feel that private suites become a bit claustrophobic, so when we are designing our new business class product we are making sure it is not claustrophobic." The new Super Business Class berth will likely debut on a Boeing 777-300ER. <br/>
The FBI has arrested an American Airlines flight attendant suspected of starting a fire during a flight. The FBI said Wednesday that Johnathan Tafoya-Montano has been charged with "destruction of aircraft or aircraft facilities and [making] false statements or entries generally." According to the FBI, Tafoya-Montano reported a fire in the rear lavatory aboard an American flight from Dallas to Detroit Feb 1. Tafoya-Montano, who was a member of the flight's cabin crew, extinguished the fire, and the aircraft landed safely in Detroit. No injuries resulting from the incident have been reported. An investigation concluded that Tafoya-Montano actually set the fire himself. Tafoya-Montano admitted to using a lighter to ignite paper towels in the lavatory before pretending to discover the fire and extinguish it. <br/>