America’s airlines, as expected, are mostly reporting improved traffic figures for the month of Jun-2010 and, with load factors climbing, most are also reporting higher revenue per ASM. The Dow Jones Index moved up a modest 0.6% on Friday 9-Jun-2010, but this was welcome respite after a series of...
US airline stocks gained on Friday, with the NYSE Arca Airline Index rising approximately 1%. It ended a week that recorded an increase of 7%, as US carriers reported double-digit unit revenue growth in Jun-2010, coupled with strong load factors, continued careful capacity management and improved demand...
Kenya Airways confirmed it plans to reduce its stake in PrecisionAir from 49% to 34%, selling the 15% stake through an IPO to investors in Tanzania by the end of 2010. Kenya Airways took the investment in PrecisionAir in 2003, after Kenya Airways' bid to take over Air Tanzania failed. Kenya Airways'...
The Lufthansa Group reported a continuation of the recovery in demand and load factors last month. Group passenger numbers surged 35.8% to 8.4 million, though excluding the consolidation effect of Austrian Airlines and bmi, the Group carried 8.9% more passengers, while RPKs rose 9.9% and capacity rose...
France-based Zodiac Aerospace, the largest manufacturer of aircraft seats in Europe, has knocked back an approach by Safran Group to combine their businesses. With a market value of EUR2.2 billion, the company has been a target of merger speculation, typically with Thales or Safran, both of which are...
UK’s NATS released its traffic report for Jun-2010, reporting a 1.4% year-on-year reduction in air traffic for the month to 198,063 flights in UK-controlled airspace.
The ruling Democratic Party of Japan has, as expected, lost its majority in the upper house following yesterday's elections. The DPJ won 44 seats, against the 51 gained by the Liberal Democratic Party (LDP), the long term leaders of government until the DPJ won control of both houses of the Diet in...
Houston based ExpressJet Airline Holdings shed 3.7% of value on 12-Jul-2010, falling USD0.10 on the back of quite reasonable traffic figures.
Shares in UK listed easyJet and British Airways were weak yesterday (-0.3% and -1.0%, respectively), despite broader improvement in the market, with the London FTSE 100 closing 0.66% higher.
Commercial Aircraft Corporation of China (COMAC) continues to line up partners for the new C919, with strong participation from US-based aerospace companies. COMAC announced the selection of Rockwell Collins to provide communication and navigation solutions, Honeywell to provide wheels and brakes, the...
AirArabia (+1.5%) Corporate Communications Manager, Housam Raydan, stated on Monday (12-Jul-2010) the carrier will receive two of 44 A320s – ordered in Nov-2007 from Airbus – "towards the end of this year". Mr Rayfan said: "After the first two to be delivered later this year, the remaining aircraft...
Despite numerous headlines and press releases from various US airlines, no new significant growth is being added to airline capacity, according to AirlineFinancials.com founder Bob Herbst. But his report was made more interesting for the fact that, although most think low-cost carriers' capacity growth...
Shares in European airports and airport operators were mixed yesterday, with several listed companies releasing their Jun-2010 traffic reports. There are signs of a traffic recovery across airports in the region, with Frankfurt Airport pax up 7.0%, Copenhagen pax rising 9.3% and Rome Fiumicino pax jumping...
Tiger Airways reported a 39% surge in passenger numbers last month, cracking the half-million barrier (509,000).
Shares in Thai Airways, Asiana Airlines and Jet Airways rallied 6.7%, 6.2% and 5.8% on investor optimism for air travel prospects in Thailand, South Korea and India, respectively this summer.
Cathay Pacific’s shares eased 1% on 12-Jul-2010 as it noted that premium demand, while continuing to improve, still remains below 2008 levels. The carrier also issued a caution regarding the sustainability of current strong growth trends later this year. Combined Cathay Pacific and Dragonair passenger...
Qantas, with 50 firm B787 orders and another 50 or so options/rights, is one of Boeing’s largest clients for the Dreamliner aircraft and gets second billing with the manufacturer after All Nippon Airways, the seed purchaser. The latest move, announced today, will now reverse the order in which Qantas...
Denmark’s Cimber Sterling Airlines, whose vision is to be Denmark’s leading airline, reported its financial and traffic highlights for the period ended 30-Apr-2010. The airline, an amalgam of a regional airline (Cimber) and a failed LCC (Sterling) has recast itself in the mould of a hybrid airline...
flybe and Air France announced details of a new commercial partnership from autumn 2010, with the carriers adding the partnership will lead to a codeshare agreement from the end of Oct-2010.
The LCC lost money in the quarter, which Mr Kjos attributed mainly to the impact of closure of European skies
Scandinavia’s largest LCC, Norwegian Air Shuttle, reported a EUR12 million operating loss and a EUR17 million net loss in the three months to Jun-2010 (2Q2010), falling from profits in 2Q2009. This occurred despite a 7% increase in revenues (to EUR256 million) and a 15% increase in passenger numbers...
Listed airport stocks had a mixed day yesterday, with Beijing Capital (-4.0%), Xiamen Airport (-2.9%), Hainan Meilan Airport (-2.9%), Shanghai Airports (-2.8%), Shenzhen Airport (-1.8%) and Guangzhou Airport (-1.6%) leading the falls.
AAR Corporation – a US-based MRO, engineering and defence concern – reported a 5% decline in sales for the fiscal year to 31-May-2010, as the company’s aviation supply, MRO and structures/systems businesses all suffered from drops in revenue.
European regulators are expected to grant antitrust immunity to the proposed commercial cooperation agreement between five oneworld carriers – British Airways, Iberia, Finnair, Royal Jordanian Airlines (+0.6%) and American Airways.
Auckland International Airport Ltd (AIAL) has acquired an initial minority 24.99% shareholding of the increased capital in New Zealand’s Queenstown Airport Corporation by subscribing for approximately four million new shares. It was only six months ago that AIAL took a stake in the Cairns and Mackay...
An airline challenge to the 2008 Department of Transportation rule allowing airports to hike landing fees during peak times, was rejected by a federal appeals court yesterday.
It was Indian airlines’ turn to rally yesterday, with Jet Airways (+7.0%), Kingfisher (+3.5%) and SpiceJet (+3.0%) gaining as India’s Sensex Index closed at a 29-month high yesterday. Investors are hopeful of more gains to come, on rising foreign investment and robust Indian economic growth.
Conspicuous by their absence on the witness list for today’s House Transportation and Infrastructure Aviation Subcommittee hearing on airline fees are any of the legacy carriers or even their Washington mouthpiece, the Air Transport Association. Instead, the subcommittee has invited Southwest and...
easyJet’s new CEO, Carolyn McCall, is reviewing all assumptions underpinning the LCC’s business model, in order to update investors when full-year results are announced in Nov-2010. Ms McCall is reported to be considering hiring third-party companies to assist with the review. Her focus will be...
Jon Sharp, the CEO of engine leasing specialist ELFC believes the market has reached an equilibrium in engine supply and demand after the “frantic sell activity” of 2008 and 2009. Mr Sharp also provides a unique industry viewpoint of the prospects for 2010, the Airbus-Boeing narrowbody re-engining...
