China Southern Airlines staged a solid turnaround in profitability in 2009 on the back of a recovery in domestic demand and considerable government support. However, yields (particularly in international markets) remained under severe pressure and many non-fuel cost lines rose. The airline reported...
Part of the focus of the recent CAPA series on US hubs has highlighted those airports that have seen their hub status disappear or be fundamentally altered. The three primary examples were Pittsburgh, Cincinnati and St Louis. In the past weeks, new studies have been released by both PIT and CVG that...
Jazeera Airways (-1.0%) slipped on Tuesday (13-Apr-2010) after the carrier reported a net loss of USD28.5 million in its updated financial highlights for the 12 months ended 31-Mar-2010, compared to a profit of USD15.3 million in the previous corresponding period. Revenue also declined, by 5.5% year...
North and South American carrier stocks declined on Tuesday (13-Apr-2010), despite a small rise in the wider market and a slip in oil prices (-0.3%), to USD84.05. The AMEX Airline Index ended trading down 0.4% as a result. The Dow edged back into positive territory as investors remained upbeat as the...
A slight majority of European carriers’ shares were down on Tuesday (13-Apr-2010), falling with the wider markets. European markets were pushed lower by a weak lead from Wall Street, a decline in banking shares and oil prices, which ended trading down 0.3%, to USD84.05.
Shares in JetBlue surged 8.0% yesterday as the carrier reported robust traffic and revenue growth in Mar-2010, reflecting a recovery in domestic travel demand. The carrier stated PRASM increased 17% in the month, (compared to an estimated 1-3% increase in Feb-2010) and a 6.9% increase in revenue passenger...
The anticipation was palpable and the excited buzz in the room rose and fell in the minutes before Republic Vice President of Marketing and Branding Ian Arthur took the stage at Coors Field in Denver to announce that Frontier would be the surviving brand for Republic Airways Holdings' branded operations...
Bombardier Aerospace President and Chief Operating Officer, Guy Hachey, stated that the company has no plans to support the existing ‘Home Market Rule’ between Airbus and Boeing that currently prevents them using export credit to finance jet purchases in each other’s home markets.
Shares in Denmark’s Copenhagen International Airport led the way up yesterday, climbing 3.3% higher with the release of its traffic report for Mar-2010 and the three months ended 31-Mar-2010. Copenhagen Airport reported a 17.2% jump in passenger traffic for the month and an 11.4% rise in passengers...
Shares in China Southern gained 0.8% yesterday in Hong Kong trading, despite the broader marking falling 0.2%, as the carrier stated it expects to report double-digit growth in passenger and cargo volumes in 2010.
Moves to impose up to USD45 fees for carry-on bags by Spirit Airlines has raised the hackles in Congress and the Department of Transportation. In his explanation of the decision, the airline’s President, Ben Baldanza cited the following reasons for the decision: “We always look for ways to save...
Middle East carriers’ shares were mixed on Wednesday (14-Apr-2010). The UAE’s General Civil Aviation Authority (GCAA) reported a 12.5% year-on-year rise in aircraft movements in Mar-2010, to 53,750. For the three months ended 31-Mar-2010, aircraft movements rose 11.7%, to 153,000.
Despite a rise in oil prices, shares in the listed US LCCs rose yesterday, as the broader stock market advanced and travel website, Priceline.com, predicted that Summer airfares could rise by as much as 25% (on average) on a year-on-year basis, not including add-on fees.
North and South American carriers’ stocks soared on Wednesday (14-Apr-2010), boosted by continued talk of a merger between United Airlines and US Airways or Continental Airlines and gains in the wider market. The Dow (+0.9%) was up on strong earnings results from Intel, JPMorgan Chase & Co and CSX...
European carriers’ shares were pushed higher by wider markets on Wednesday (14-Apr-2010), despite a strong gain in oil prices (+2.1%), to USD85.84. European markets were boosted by positive financial results from Intel Corp and JPMorgan Chase & Co.
Shares in Switzerland’s Zurich Airport gained 1.3% yesterday, upon the release of the operator's traffic and commercial (retail, duty free and F&B) report for Mar-2010. During the month, passenger numbers jumped 9.7% year-on-year to 1.8 million. However, total revenue per departing passenger dipped...
Southwest Airlines, the star performer in improving its unit revenues in recent months thanks to its continued capacity disciplin, trumped JetBlue, Continental Airlines and US Airways in the yield growth stakes again in Mar-2010, but was joined by United Airlines in reporting 20%+ year-on-year PRASM...
Second-tier aircraft lessors are rapidly closing the gap between the established two lessors, ILFC and GECAS. Macquarie Group announced a USD1,987 million acquisition of 53 aircraft from ILFC yesterday, mostly for the popular A320/B737 narrowbodies (more than 70% of the portfolio), with on-order widebodies...
Shares in Chinese airlines fell back in Hong Kong trading yesterday, with China Eastern slipping 3.8% and China Southern and Air China down by 3.4% and 2.4%, respectively. Sentiment was affected by higher oil prices, coupled with strong official remarks that the Yuan-dollar peg is to be maintained for...
Korean Air CFO, Lee Sang-kyoon, stated the carrier expects to report an operating profit of KRW1 trillion (USD890 million) in 2010, if current strong trends continue. The company officially targets a KRW800 billion (USD716 million) operating profit in 2010, on revenues of KRW10.6 trillion (USD9.5 billion...
The majority of North and South American carriers’ shares were up on Thursday (15-Apr-2010) on news United Airlines has reportedly entered merger negotiations with Continental Airlines and analyst upgrades. A decline in oil prices (-0.4%), to USD85.51, and a gain in the Dow (+0.2%) also helped airline...
Comair (-1.9%) was the only African carrier down at the end of trading on Thursday (15-Apr-2010). It announced plans to open its rights offer on 03-May-2010, with shares to be listed from 17-May-2010.
“It looks as if [United Chair Glenn] Tilton’s plan is coming together,” said AirlineForecasts Partner Vaughn Cordle, reacting to the news that United and Continental have renewed merger talks, according to The New York Times Deal Book which first broke the story of United’s merger talks with...
Much of European airspace is closed for today at least. Within Europe the scene is casual chaos. Not only are travellers and flights grounded in several major European city, but it will take days to restore schedules, even if the scare is called off today. And in points as far away as Australia and...
Oil prices are again flirting with the USD90 per barrel mark, prompting OPEC to raise the spectre of triple-digit oil prices. The cartel has announced it could step up production in prices were to breach USD100 per barrel, in order to cool the market. Kuwait’s Oil Minister stated that the grouping...
Guangzhou Baiyun International Airport shares dipped 1.0% yesterday ahead of the release of its traffic report for Mar-2010 this morning.
Shares in Jet2.com parent, Dart Group, gained 7.9% yesterday, following significant gains throughout the month, to reach 12-month highs.
Brazilian President, Luiz Inacio Lula da Silva, and Chinese President, Hu Jintao, signed an agreement on expanded industrial cooperation yesterday. Under the agreement, the Brazilian President has confirmed that Embraer will maintain its operations in China. Embraer was reportedly due to exit its Chinese...
China Eastern Airlines has announced it intends to join the SkyTeam Alliance by mid-2011. China Eastern joins China Southern Airlines in the alliance, which also includes Aeroflot, Aeromexico, Air France, Alitalia, Czech Airlines, Delta Air Lines, KLM, Korean Air, Air Europa and Kenya Airways.
Zurich and Vienna airports, and German airport investor/operator Hochtief, have all released financial results for the year ended Dec-2009. The former two are influenced by Lufthansa, which controls the national airlines of Switzerland and Austria. Hochtief, despite its investment in two German airports...
