Canadian and South American airline stocks were mostly up on Thursday (25-Nov-2010) as the Canadian stock market made a slight gain and Latin American markets slipped. US markets were closed for Thanksgiving.
Air Berlin (+3.1%) continued to advance on Thursday (25-Nov-2010), rising with the majority of European airline shares. The carrier was up on the announcement it signed a USD700 million package deal with ICBC Financial Leasing Co covering 18 used and new narrowbody aircraft.
AirAsia, Southeast Asia’s largest LCC, gained 4.1% yesterday as the company announced it more than doubled its 3Q net income to MYR327.3 million (USD105 million) on the back of higher operating revenue, traffic volumes and improved yields. AirAsia closed at MYR2.61, its highest level since 22-Oct-...
1time (-3.5%) finalised a USD9.2 million (ZAR65 million) deal to sell a 25% stake in the company to Mtha Aviation and SKMT Sunrise Investment Group. 1time will use the new capital to fund the group’s expansion and develop its facilities at Safair Technical, its maintenance division. The transaction...
GMR Malé International Airport Private Ltd (GMIAL), a subsidiary of GMR Infrastructure Ltd (GIL) (-5.2%), stated it has achieved financial closure for the USD511 million project to modernise, expand and operate Malé International Airport.
IATA Director General Giovanni Bisignani commented that the aviation industry is “out of the woods” with two consecutive years of profit expected in 2010 and 2011. But he added the usual rider that the industry remains “very fragile” and has a “very weak balance sheet”. Mr Bisignani added...
Malaysia Airlines (MAS) and AirAsia revealed strong third-quarter results yesterday on the back of higher operating revenue and improved yields. Shares in AirAsia jumped 4.1% while Malaysia Airlines added 0.5%.
Asia Pacific full service airlines are well positioned for a strong performance in 2011, according to the Association of Asia Pacific Airlines (AAPA). The organisation's members saw continued strength in passenger and air cargo demand in Oct-2010, while profitability is improving.
Trying to play the populist hero, Department of Transportation Secretary Ray LaHood came out with its response to the recent Airline Zone/Marks Aviation study showing cancellations rose dramatically in the wake of the new rule prohibiting lengthy tarmac delays.
Iberia (-1.5%) and British Airways (-1.2%) declined with the majority of European airlines on Friday (26-Nov-2010) ahead of a final vote by shareholders on the GBP5 billion merger at a meeting in London today (29-Nov-2010). Shareholder approval, which is widely expected, will lead the way to the creation...
Etihad Airways has issued a statement that it expects to report profitable earnings before interest, taxation, depreciation, amortisation and rentals (EBITDAR) for 2010, marking “an important step forward in the airline’s journey towards full break-even in 2011 and profitability in 2012”.
LAN Airlines (+0.1%) made only a minor gain in a day of declines for North and South American airline stocks on Friday (26-Nov-2010), despite announcing the signing of the definitive purchase agreement for the acquisition of 98.942% of the outstanding shares of AIRES.
Good news emerged for Bombardier late last week, with SAS confirming it is considering an order for CSeries aircraft to replace B737s and MD80s. SAS needs 55 aircraft over the next six years, as it revamps its regional fleet and looks to increase capacity at 4-6% p/a until 2016.
Airport shares were led lower on Friday by Indian conglomerates GMR Infrastructure (-5.9%) and GVK Power & Infrastructure (-4.4%).
LCC stocks mostly fell on Friday, dragged down by declines across wider equity markets. Air Berlin, 1time Holdings, Vueling and Norwegian led LCC shares down. Asia Pacific LCCs Virgin Blue, AirAsia and Tiger Airways were notable gainers. Dart Group, parent of Jet2.com, also closed higher.
Virgin Blue Holdings Chairman Neil Chatfield, at the carrier’s AGM in late Nov-2010, stated the carrier's initial "no frill LCC model is well behind us" as the carrier implements a “Game Change Programme” aimed at attracting business passenger away from major competitor, Qantas.
Kingfisher Airlines shares slumped 7.2% to INR65.3, the most since 27-Jan-2010. The Board of Directors of approved a plan to convert debt of as much as INR13.55 billion into equity.
India’s financial capital, Mumbai, will have a second international airport at last with the Union Ministries of Environment and Aviation and Maharashtra Government's City and Industrial Development Corp (CIDCO) shifting their positions to meet each other half way.
LCCs posted mixed results, largely across geographies, to start the week. Asian markets were mostly up and LCCs in the region recorded modest gains. US LCCs bucked the wider downward trend to strengthen slightly, but lingering concerns in Europe extended last week’s losses. LCCs in Europe all closed...
With little sign of a B777 update or replacement in the immediate future, Emirates, the world’s largest airline in terms of international passenger traffic, is pressing Airbus for more range for its A350-1000.
Dubai International Airport will be the busiest international passenger hub in the world by 2020, according to the CEO of Dubai Airports, Paul Griffiths. Based on statistics for the year to Aug-2010, Dubai is the fifth largest airport in the world in terms of international passengers.
Wataniya Airways, subsidiary of Kuwait National Airways (-3.8%), stated it would cancel services to four cities - Damascus, Amman, Manama and Jeddah from 05-Dec-2010 - and reduce frequency to Dubai due to market saturation.
The Air Transport Association named a new president – effective 1-Jan-2011 – in Nicholas Calio who succeeds current president and CEO James May whose contract was allowed to lapse.
IATA, in its October-November Airlines Financial Monitor, stated positive 3Q financial result announcements have given airline shares a “further boost”, with some notable exceptions, as the airline share price index increased by a further 12% over the past month led by the Asia Pacific.
FedEx (+4.7%) stocks advanced on a day of mixed trading for North and South American airline stocks on Monday (29-Nov-2010). Credit Suisse Group AG raised its rating of the freight carrier’s stock from "neutral" to "outperform" during trading, with a share price estimate of US111. FedEx ended trading...
Abu Dhabi Airports Company (ADAC) plans to spend AED500 million (USD136.1 million) to raise the passenger handling capability at Abu Dhabi International Airport (ADIA) by 75% over the next two years. ADAC stated the capacity enhancement programme will be implemented to increase the throughput potential...
Airports of Thailand (+0.7%) revenue was up 12% in financial highlights for the 12 months ended 30-Sep-2010:
Boeing shares fell 0.7% yesterday, amid a day of a general decline in aerospace stocks. UBS maintained its neutral rating and USD72 price target, on news Boeing is sorting the issue that grounded its B787 test fleet earlier this month. JP Morgan cut its 2011 full-year profit outlook from USD4.65 to...
SAS (+1.3%) was among the few gainers, as the majority of European airline shares declined on Monday (29-Nov-2010). SAS stated last week it is evaluating the acquisition of Bombardier CS300 aircraft as the carrier prepares to add approximately 55 aircraft to its fleet over six years.
Taiwan’s China Airlines led airlines, property and hotel stocks higher in Taipei trading after the ruling Kuomintang party won three of five seats in the mayoral elections on 27-Nov-2010, prompting speculation President Ma Ying-jeou will extend pro-China policies.
