From a strategic standpoint, the SkyTeam pursuit of Virgin is a no-brainer. Except for a single daily Korean Air flight to Seoul, the alliance has no other non-stop routes from London to North Asia, Southeast Asia or Oceania – no Hong Kong, no Tokyo, no Singapore without a connection.
Jazeera Airways announced its 2H2010 net profit was the carrier's best second half result since 2008, with the return to profitability partly due to staff reductions and other cost cutting measures. Chairman Marwan Boodai added that the carrier is "optimistic" about 2011 and expects profits in the full...
Shares in aircraft leasing companies were mixed, with European independent lessor AerCap losing 3.8% and Aircastle and FLY Leasing both down 3.3%. Kuwait-based ALAFCO, partially owned by Kuwait Airways Corp, went against the general downward trend in the Middle East and North Africa, gaining 1.4%. Regional...
The USD5 per barrel jump in oil prices yesterday sent share prices of carriers listed in North and South America into a tailspin, with stocks down across the board. Worst affected was United Continental, which dipped 9.2%, with US full service carriers generally among the heaviest hit. Copa and Air...
LCC share prices were generally lower yesterday, with the exception of the UK regional operator Flybe. Most heavily affected were Asian carriers (Tiger Airways, AirAsia and Skymark), although there were significant share drops in North America (Southwest Airlines in particular) and Europe (notably Norwegian...
European airline shares traded generally lower, thanks to rising fuel prices due to the political instability in the Middle East and North Africa. Turkish Airlines was most heavily affected, slumping 7.1%. European LCC stocks also proved sensitive to the increase in oil prices: Norwegian, Vueling, easyJet...
Shares in World Fuel Services Corp traded down 4.8% on Tuesday, as the fall-out from the political turmoil in the Middle East and North Africa widens. Oil prices hit their highest point since late 2008 in trading yesterday, with West Texas Intermediate jumping more then USD5 per barrel, triggering concerns...
Aerospace shares closed generally lower on Tuesday, as aerospace stocks deal with the fall-out from the Middle East and North African unrest and the jump in oil prices. The largest drops were seen in AAR Corp, Bombardier and BAE Systems. AviChina went against the trend, posting a 9.9% jump.
Unions, snow, ash and strikes have resulted in BAA reporting a pre-tax loss of GBP317 million for 2010, according to the UK airports operator, which is owned by Spain's Ferrovial.
Unprecedented civil resistance has spread from Mauritania in the west to Iran the east – engulfing many nations in the region and threatening to displace its political foundations. As with many instances of regime change, movements have often been accompanied by violence. Unrest has seen oil prices...
Airline stocks dropped across the board in the the Asia-Pacific, with rising oil prices triggering profit concerns for the industry. Oil prices on the benchmark West Texas Intermediate index for April delivery surged 6.4%, hitting the highest level since Oct-2011.
Airline traffic growth in India remained in the double digits in Jan-2011 with growth of 21% year-on-year to start the year. This marks two consecutive Januarys of traffic growth with domestic traffic up 106% from Jan-2006 levels. Domestic traffic is now some 48% above Jan-2009 levels, 27% above Jan...
No discussion of the funding programs would be complete without touching upon high-speed rail (HSR) that is such a priority for the President. The bottom line; we can’t afford it and it won’t live up to its promise.
Discussions of the various bills and the President’s budget must start with the just passed Senate’s Federal Aviation Administration Air Transportation Modernization and Safety Improvement Act (S-223), since it is the furthest along the legislative track.
If it is February it means Washington DC is abuzz with all kinds of aviation news - the President’s budget, hearings on the long-overdue Federal Aviation Administration (FAA) reauthorization bill. Then there is the FAA forecast conference telling us once again that traffic will rise exponentially...
IATA has strengthened calls on authorities in Hong Kong to move forward with plans for a third runway at Hong Kong International Airport (HKIA), as traffic continues to show healthy growth signs in the early stages of 2011. Outgoing Director General and CEO, Giovanni Bisignani, warned that if Hong Kong...
European airlines reported single-digit growth last year - a welcome improvement from 2009's depressed level - but 2010 was a lacklustre year overall. Full year data has been released by the Association of European Airlines (AEA), the European Low Fares Airline Association (ELFAA) and EUROCONTROL. As...
Skywest shares have gained 4.2% after the company announced its 2010 results. The gain was against the trend for North and South American listed airlines, most of which traded lower yesterday. Most heavily hit was US Airways, which lost 7.4%.
All Nippon Airways filed an application with the Japanese Government for antitrust immunity to launch a JV with Lufthansa on routes between Japan and Europe. Subject to approval of the application by the MLIT, the Star Alliance partner airlines will be able to jointly manage their Japan-Europe operations...
Royal Jordanian Airlines reported a 66% year-on-year decline in net profit to USD13.5 million as fuel costs jumped 35% to USD285.9 million in 2010. Operating costs jumped 20% to USD849.3 million during the period. Shares in Royal Jordanian were down 1.3%.
MTU Aero Engines forecast has group revenues would grow by 7-8% in 2011 but profits will only match 2010 levels. The main growth driver is set to be the commercial engine business, with an anticipated 15-20% increase in sales. The spare parts and commercial MRO businesses are expected to grow by 5-10...
Shares in Aircastle dropped 5.8% in trading yesterday, in a mixed day for listed aircraft leasing companies. Aircastle's diversified aircraft lease portfolio consists of 132 aircraft, with 63 lessees located in 36 countries. The company is due to release its fourth quarter and full year financial results...
Duty free shares generally lost ground yesterday, the exceptions being modest gains fro Hellenic Duty Free (+0.8%) and gategroup (1.4%).
Airport stocks had a mixed day, avoiding the general downward trend that has affected most aviation-related stocks. Shares in Hainan Meilan and TAV Holdings were down heavily, while shares in Mexican airport operators ASUR and OMA were up. Australia’s MAp reported a profit of USD101.1 million for...
Asia Pacific shares were generally weaker in the face of further climbs in oil prices, with WTI crude trading briefly above the USD100 benchmark yesterday. Cebu Pacific shares closed the day 5.5% lower, the heaviest decline for the day. Garuda Indonesia shares gained 1.9%, while Thai Airways was up...
The Centre for Asia Pacific Aviation (CAPA) is pleased to announce it now offers live traffic data for dozens of listed and unlisted carriers worldwide, plus comprehensive US airline quarterly financial data sourced from the DoT Form 41.
Virgin Blue Holdings reported a 62% slump in first half net profit in the six months ended 31-Dec-2010 (1HFY2010) to AUD23.8 million (USD23.8 million), at the bottom end of the carrier’s recently lowered guidance of AUD23 million-26 million. The AUD72 million underlying pretax profit was in line with...
AirAsia posted an eightfold increase in 4Q2010 net profit to MYR316.6 million (USD103 million) as higher fares and ancillary revenues helped counter a 33% increase in fuel costs. AirAsia stated the outlook for 1Q2011 is positive despite turmoil in the Arab world which is impacting fuel prices. The AirAsia...
Tiger Airways signed a term sheet on 24-Feb-2011 for the purchase of a 32.5% stake in Philippine LCC SEAir for USD6 million. The ownership deal takes the existing collaborative relationship between Tiger and SEAir, which commenced around three years ago and was expanded in Nov-2010, to a higher level...
Tiger Airways signed a term sheet for the purchase a 32.5% stake in SEAir for USD6 million from co-founders Iren Dornier and Nick Gitsis, who will hold a combined 7.5% stake in the carrier after the sale. A majority 60% stake of SEAIR will still be held by local investors.
