Mother nature is going to cost easyJet as much as GBP100 million this year, but the UK-based LCC does not expect that to prevent it from posting a healthy profit. Winter snow disruptions in 2009 and 2010 resulted in losses of approximately GBP25 million. The recent ash-related airspace shut downs are...
Regional aircraft lessor Aerocentury yesterday reported a net profit of USD1.9 million in 1Q2010, sending its share price soaring 12%. The company, which leases aircraft to regional airlines and general commercial users, reported net revenue of USD8 million for the quarter, an increase of 10% year-on...
Oil prices continue to drop, as crude fell to a three-month low on the NYMEX this week, even touching below USD75 per barrel in interlay trade. Prices have retreated from a high of USD86 per barrel earlier in the month and are back to levels seen in early Mar-2010.
Shares in Spain’s Abertis dipped 0.8% yesterday, on the release of the airport operator’s financial report for the three months ended 31-Mar-2010. Group EBITDA rose 7.5% year-on-year to EUR538 million, while EBITDA in the airports sector was EUR12 million. Group revenue increase 8.3% year-on-year...
Asia Pacific airline stocks marched higher yesterday, courtesy of a rally on broader markets and weakness in oil prices. Crude fell another USD1.25 per barrel overnight in New York to USD74.40, for June delivery.
"We will take the time that is necessary for us to look at it, to make sure we are comfortable in the decisions that we are making. We will not unnecessarily delay things but we will certainly take the time that we need to come up with a reasoned decision. I can assure you that political considerations...
The majority of North and South American carriers’ shares were down on Friday (14-May-2010), pushed lower by the wider market. The Dow (-1.5%) fell on continued concerns over European debt issues, weak retailer earnings and Senate backing for a limit on credit card charges.
Middle East and North American carriers were down on Friday (14-May-2010) as wider markets sunk on continued concerns over euro zone debt issues. Air Arabia was the only carrier not to decline.
Jazz Air Income Fund posted a first quarter profit of CAD6.5 million on operating revenue of CAD355.6 million, down 3.8%. The profit was a negative swing of CAD14.6 million from CAD21.1 million or 69.1%. The airline reported its expenses were relatively flat from 1Q2009 rising only 0.2%.
Global low cost carrier stocks were weak on Friday with growing concerns the EU’s austerity measures would slow economic recovery and growth in the region. European stocks retreated. The Paris CAC 40 Index dropped 4.59%, London’t FTSE 100 lost 3.14%, while Frankfurt’s DAX slowed 3.12% lower. The...
Airbus' parent EADS reported a net profit of EUR103 million for 1Q2010. Revenue is up for the aircraft and aerospace manufacturer, but operating and net margins slipped over the first three months of the year.
European aviation’s twin uncertainties – sovereign debt issues and volcanic ash plumes – weighed on investors again on Friday. European airline and airport share prices fell across the board (with the exception of Aer Lingus, +2.8%), on renewed worries about the debt crisis and fresh airport closures...
Thai Airways announced a handsome increase in profit in the first quarter of the 2010 fiscal year ended 31-Mar-2010, but the outlook for the airline – and the Thai nation – is deteriorating by the day. Anti-government protesters are engaged in running battles that has left 30 dead and over 230 injured...
Asiana Airlines’ shares continued to rally on Friday, soaring 14.3% on the day and capping a 45% surge in its stock price in little over a week. Investors were very pleased with the carrier’s first quarter earnings and the outlook is equally strong.
Fresh on the heels of last week’s National Mediation Board decision to change the rules on counting votes in a union election, the US Air Transport Association said yesterday it is filing suit in the US District Court for the District of Columbia. ATA will seek a speedy review of the voting rule,...
North American carriers were mostly up on Monday (17-May-2010), while South American carriers’ shares slipped with wider markets. The Dow (+0.1%) rose slightly, rebounding in late trading on news of a number of proposed mergers.
North and South American low cost carrier stocks ended the session with gains yesterday, following poor performances in recent sessions. The Dow lifted (+0.05%), with the AMEX Airline Index ending trading 0.11% higher.
The share price of Lonrho, parent of Fly540 Aviation, slumped 11.1% on Monday (17-May-2010) - on the same day of an incident involving one of its aircraft. The aircraft's tail was hit by a Kenya Airways B737-700 during line-up for take-off at Jomo Kenyatta International Airport (JKIA) at 9:30 am local...
Shares in New Zealand’s Infratil dipped 1.2% yesterday, ahead of the release of the company’s financial report for the 12 months ended 31-Mar-2010. Total EBITDAF was up 1.7% year-on-year to USD252.8 million on a total revenue increase of 5.9% to USD1,278 million.
European airline shares slumped again on Monday (17-May-2010) as investors remained concerned over the future of the region’s economy and ash-related cancellations continued.
Boeing announced yesterday that it is increasing B737NG production from 31.5 to 34 aircraft per month, or a 7.9% increase, in a decision that has been anticipated for several months. Boeing’s B737 programme stood out as a beacon of success in 2009.
Stronger demand and rising load factors should deliver an earnings turnaround for Malaysia Airlines (MAS) in 2010, although the outlook is not without risks. The Group recorded an operating profit of RM289.5 million in 1Q2010 ended 31-Mar-2010, "mainly due to the increase in other operating income as...
There are some more worrying signs in China. The Shanghai Composite Index tumbled 5% yesterday, registering its biggest one-day percentage drop in more than eight months. Shares have plunged 20% in the past month to lows not seen in over 12 months. Moves by Beijing to curb rampant property market speculation...
Premium travel, the lifeblood of full service airline business models, staged a strong recovery in the first quarter of 2010, although the number of passengers travelling in First and Business classes are still some 15% below their pre-recession levels, according to IATA. Premium demand rose 10.8% year...
Lonrho (12.5%) rebounded on Tuesday (18-May-2010) due to a non-aviation related matter involving the purchase of a remaining 49% stake in fresh foods supplier Rollex for GBP4.2 million by Lonrho’s Agriculture division which adds to its previously acquired 51% stake.
North and South American carriers’ stocks declined on Tuesday (18-May-2010), again affected by a fall in the wider market. The Dow (-1.1%) moved lower after the US Securities and Exchange Commission proposed tighter regulations to prevent further “mysterious” free-falls in the stock market, like...
As it struggles through bankruptcy, Mesa received another blow when the United States District Court for the Northern District of Georgia ruled against it in its dispute with Delta Air Lines. The ruling paves the way for the elimination of Freedom Airlines as a Delta Connection, effectively grounding...
EADS and MTU Aero Engines led suppliers shares higher yesterday on a generally more positive days for European stocks.
Aeroports de Paris’ shares gained 0.9% yesterday as the Paris CAC-40 Index rose 2.1%. The airport operator reported a 19.1% year-on-year decline in passenger numbers to 5.9 million last month across its network, due to the airspace closures.
Virgin Blue’s share price remains under pressure on concerns about June quarter traffic, rising Australian domestic capacity and sharp pricing by low fare rivals. The stock fell 6.1% yesterday (18-May-2010) and is down 2.2% in early trade in Sydney today.
