Boeing's operating margin declined 1.5 points to 7.7% as revenues fell 8% to USD15.2 billion, during the first quarter ended 31-Mar-2010. Operating profits rose 15% to USD1.17 billion, while net profits fell 15% to USD519 million. Operating cash flow experienced a dramatic negative swing from USD193...
The airline industry is rapidly restoring services as almost all European airspace is now available. But relief is quickly turning to anger as airlines count the cost of the massive disruption to their operations. EUROCONTROL expects almost 100% of the air traffic will return in Europe today (22-Apr...
Its quarterly profit may only be USD5.3 million but Alaska Air Group (including Alaska Airlines and Horizon Air) outpaced its peers just by being profitable. This was especially significant given the USD19.2 million loss in 1Q2009 and the USD27.1 million headwinds resulting from additional fuel costs...
Market confidence in Rockwell Collins continues to grow, ahead of the aerospace and defence company’s second quarter results, due out toady (23-Apr-2010). The company’s shares traded 2.8% higher yesterday, hitting a high of USD67.84 per share. Shares have traded strongly since the beginning of Feb...
Air Arabia (+4.5%) made its biggest gain since Dec-2009 on Thursday (22-Apr-2010), after HSBC Holdings raised its rating of the carrier’s shares from ‘Neutral’ to ‘Overweight’. The analysts also raised its price target to AED1.15. The carrier closed trading at AED0.96.
The majority of North and South American carriers’ stocks gained on Thursday (22-Apr-2010) as the airlines resumed operations to Europe with the reopening of the region’s airspace. Improved financial results from Alaska Air and Continental Airlines also impressed the market.
Shares in MAp dipped 0.3% yesterday ahead of the release of its financial and traffic report for Sydney International Airport for the three months ended 31-Mar-2010. Total airport revenue rose 11.7% year-on-year to USD211.6 million, led by a 17.8% surge in aeronautical revenue to USD88.1 million. Revenue...
Southwest Airlines’ shares slipped 1.0% yesterday coinciding with the release of the carrier’s 1Q2010 financial results, in which the carrier reported a net profit of USD11 million in the quarter, a turnaround from a net loss of USD91 million in the previously corresponding period. The carrier was...
European carriers continued to trend lower on Thursday (19-Apr-2010) as carriers reported losses for 1Q2010 and continued to estimate the costs due to this week's closure of European airspace. Airline shares also followed the wider markets, which slumped due to Greek deficit issues, including a downgrade...
A week of European traffic chaos caused oil prices to drop sharply late last week, although prices have largely recovered as European authorities sort out their airspace problems. Oil prices dropped from above USD85, touching below USD81 per barrel in trading on Monday.
Virgin Blue shares shed 3.2% on 22-Apr-2010, against a backdrop of unresolved union talks. Jet Airways (-2.7%), AirAsia (-2.2%) and Asiana (-1.8%) were also down. Volatile Skywest shares gained 5.8%.
AirTran still prefers to concentrate on improving its balance sheet rather than distracting itself with mergers, according to Chair, President and Chief Executive Officer,Bob Fornaro and CFO Arnie Haak, who briefed analysts during the company’s first quarter earnings call.
Southwest Airlines’ first quarter profit made a dramatic swing from a net loss of USD91 million in the first quarter of 2009 to a USD11 million profit, a remarkable turnaround for the carrier.
Continental Airlines widened its net loss to USD146 million or USD1.05 diluted loss per share, well below analyst targets of 86 cents.
Indian aviation has once again resumed its strong growth trajectory, with double-digit expansion since July 2009. This is good news for India’s airlines and airports after a turbulent couple of years, but growth brings its own challenges. The need for high quality infrastructure is widely recognised...
Indian aviation has once again resumed its strong growth trajectory, with double-digit expansion since July 2009. This is good news for India’s airlines and airports after a turbulent couple of years, but growth brings its own challenges. The need for high quality infrastructure is widely recognised...
Air India announced the appointment of Gustav Baldauf as its first Chief Operating Officer (COO) in early Apr-2010, as one of the critical steps under its turnaround plan. Mr Baldauf is also the carrier’s first expatriate on its management team. He is currently the Executive Vice-President - Flight...
US Airways ended talks with United on a possible merger between the two carriers, said Chair and CEO Doug Parker in a company statement.
The majority of North and South American carriers shares were up again on Thursday (29-Apr-2010), boosted by another day of gains in the wider market. The Dow (+1.1%) rose on improved 1Q2010 earnings results from a number of companies and reports Greece is close to a bailout deal.
Brazilian aircraft manufacturer Embraer reported a USD35.3 million net profit for 1Q2010, a reversal of the USD23.4 million loss for the same period in 2009. EBIT was USD57.4 million, up from USD27.3 million in 1Q2009.
Air Arabia (+2.0%) was the only Middle Eastern carrier to experience a rise in its share price on Thursday (29-Apr-2010) after the carrier stated it served more than 28,050 passengers on the Sharjah-Beirut sector, an increase of 7.2% year-on-year in 1Q2010. In 2009, more than 115,675 passengers were...
Shares in Spain’s Ferrovial, investor in the UK’s BAA, jumped 3.4% yesterday, ahead of the release of the operator’s financial report for UK airports for the three months ended 31-Mar-2010.
European carriers’ shares rebounded on Thursday (29-Apr-2010), moving with wider markets. Markets were up on expectations the European Union and the International Monetary Fund (IMF) are close to finalising bailout negotiations with Greece.
Ryanair reportedly plans to suspend service from Budapest Ferihegy and Prague Ruzyne International Airports after they separately refused requests to lower charges for the carrier. The LCC plans to suspend services from Prague to Birmingham, Dublin, Hahn and Stockholm by Oct-2010 and separately stated...
It may have taken 100,000 flight cancellations, USD1.7 billion in direct losses to airlines and the stranding of millions of passengers, but the eruption of the Eyjafjallajokull volcano may just prove the impetus needed for the rapid implementation of the Single European Sky. This would indeed be a...
The airline landscape in India has been transformed in recent years. In 2003, there were just four carriers – Air India, Indian Airlines, Jet Airways and Air Sahara - all operating full service models. And private carriers in those days were limited to operating domestic routes only. Today, there...
After the shock of last week’s European airspace closure, oil prices have largely recovered their lost ground. Prices on the NYMEX finished trading on 29-Apr-2010 at just above USD83 per barrel, while Brent prices hovered at a little over USD86 per barrel.
Asia Pacific airline shares were mostly higher yesterday, led by Jet Airways (+8.0%), EVA Air (+5.2%) and Asiana Airlines (+3.0%).
Despite its surprise first quarter net loss after four consecutive profitable quarters, President, Director and CEO Dave Barger, was very optimistic during yesterday’s analyst call as he briefed participants on the company’s strategy to gain new partners.
Scandinavia’s largest LCC, Norwegian Air Shuttle, reported a 14.8% increase in 1Q2010 revenue, driven by ancillary revenue growth and double-digit passenger increases in the period (CEO, Bjorn Kjos, stated he was "satisfied with the result" particularly "in light of the strong passenger and production...
