Multiplus, the frequent flyer unit of TAM, gained 5% in trading on Wednesday, the largest single day increase for the company in six weeks. The company announced it will pay shareholders BZR3.72 for each share they own. Shareholders will vote on the payment on 17-Mar-2011.
Shares in all three major Mexican airport operators finished lower on Wednesday, with ASUR losing 3%, GAP down 2.6% and OMA falling 1.4%. Also trading down were several European airports, including Aeroporto di Venezia (-2.9%) and Vienna Airport (-2.6%).
Oman Air reported another year of growth and development in 2010, as the carrier’s headline operational statistics all showed remarkable increases. Passenger traffic grew by 38%, passenger load factors jumped 11% and revenue increased by 51%. Cargo carried increased by 99% and air cargo revenue increased...
BAA and its consortium parent Ferrovial have issued their year-end financial statements for 2010. In the case of the Spanish company revenues, EBIT and EBITDA all fell slightly in the airports division but an EBITDA margin of around 45% was achieved.
IATA downgraded (02-Mar-2010) its profit forecast for the airline industry from its Dec-2010 forecast of USD9.1 billion to USD8.6 billion due to the rising cost of fuel. Fuel costs are expected to be 29% of total costs this year compared with 26% in 2010.
All three of Mexico’s big privatised operators reported much improved results for the 2010 financial year and appear to have put the swine flu era behind them. One has even gone so far as to look beyond the country’s borders for new investment stimulus.
It is increasingly difficult to compare US regional financial performance based on their earnings releases owing to the consolidation of the industry coupled with different strategies for the future.
Delta Air Lines announced it is acquiring nine used MD-90s from Japan Airlines Corp, replacing older DC-9s being retired. Deliveries will commence after the aircraft are refurbished to match Delta’s fleet.
DAE Capital the leasing unit of has Dubai Aerospace Enterprise has announced another round of aircraft order cancellations, this time for 18 A320s and 12 A350-900s. The company has already cut 47 Airbus and Boeing aircraft from the orders it made for more than 200 aircraft in 2007. The leasing unit...
AirAsia Indonesia announced it expects to raise USD150 million-200 million from the sale of a 20% stake in an IPO to be held at the end of 4Q2011. The funds raised will be used to acquire new aircraft, boost capital, finance long-term operational costs and speed corporate growth. The carrier plans to...
US Airways confirmed that it has signed multi-year agreements with Sabre and Travelocity, the company's online travel agency, but has taken exception to the language used by Sabre in the press release, continuing the ongoing war of words between US airlines and online travel distributors. US Airways...
Bombardier Aerospace signed an MoU with ICBC Financial Leasing, clearing the way for ICBC Leasing to provide Bombardier’s customers with advance payment financing, delivery financing and leasing solutions for Q-Series, CRJ Series and CSeries commercial aircraft, as well as the company's business and...
European shares finished stronger on Thursday, with Turkish Airlines up 6.4% and International Airline Group gaining 3.3%. IAG reported consolidated traffic highlights for British Airways and Iberia Airlines for Feb-2011, with overall passenger traffic down 1.3% in the month, and load factors falling...
Shares in airport duty free and retail operators were generally stronger in trading on Thursday. Hellenic Duty Free shares gained 2%, while Lotte Shopping and DO & CO both gained 1.2%.
Worldwide traffic growth is “clearly on the rise” according to ACI World, which predicted that the world’s airports would handle “twice as many passengers” over the next 20 years.
Turkey’s TAV Airports Holding reported revenue rose 23% in 2010, although net profit was stable for the year at EUR52 million. EBITDA was up 27% year-on-year to EUR212 million. Passenger numbers at TAV's airports rose 13% to 47.6 million. Shares in TAV Airport Holdings rose 3.4%.
AirAsia Indonesia confirmed its 20% IPO to be held at the end of 4Q2011 is expected to raise USD150 million-200 million. Funds raised will be used to procure new aircraft, boost capital, finance long-term operational costs and speed corporate growth. The company also aims to increase revenue by 15%...
US airline shares fell again on Friday, with the NYSE Arca Airline Index finishing the week 2.9% lower. The heaviest falls on Friday were from some of the largest US carriers, with American Airlines down 3.9%, Delta losing 3.4% and United Continental down 3.3%. The sole carrier to go against the trend...
Air France will gain access to a EUR1 billion credit line, organised through its Societe Air France unit. The five-year revolving credit line which will be used for general corporate purposes and to refinance a EUR1.2 billion credit line signed in 2005.
Shares in US-based Aerocentury rose 7.2% in trading on Friday, after slumping 15% over Thursday. The regional aircraft leasing specialist had no comment on unusual market activity, which saw high trading volumes early on Friday morning.
Shares in UK-based aerospace and automotive components manufacturer GKN Aerospace dropped 3% in trading on Friday, ending an upward run following the company's 2010 financial report made last week. Revenue at the company jumped 21.9%, although aerospace revenue was down 2.4%, profit before tax more...
India's SpiceJet is reportedly likely to select Hyderabad International Airport as a major regional hub and is in talks with airport operator GHIAL over discounts to landing fees and other charges. The carrier plans to launch regional operations with turboprop equipment from Jul-2011. SpiceJet has 15...
Kenya Airways confirmed that it plans to acquire a dedicated freighter aircraft, to be put into service by next financial year. Group Managing Director and CEO Titus Naikuni announced that the carrier plans to operate cargo operations across Africa.
Municipal government officials in Daxing District announced it has been selected as the site for the new Beijing airport, the city's third major airport. The city is served by the small joint-use Beijing Nanyun airport and the much larger Beijing Capital International Airport (BCIA), China's busiest...
Australia’s MAp Airports and Australian Infrastructure Fund have reported their financial results: For the former, all eyes have been on Copenhagen and its experimental 'dual airport policy'; for the latter, it was a case of steady as you go on an EBITDA increase of 24.9%.
Shares in South Korean retailer and department store operator Lotte Shopping Co rose 6.5% on Friday, the company's highest point in five months. Last month, the company pulled out of merger discussions with Indonesian company Matahari, in preference for seeking a “global partner”.
Shares in most Chinese-listed carriers finished last week stronger, with Air China subsidiary Shandong Airlines up 3% and Hainan Airlines gaining 2.4%. China Southern also traded higher (+1.4%) while Air China was flat.
The IMF stated it would likely revise down its economic growth forecast for New Zealand “somewhat” from the 3% forecast, following the devastating earthquake in Christchurch which is expected to cost the New Zealand economy up to NZD20 billion (USD14.9 billion).
Travelport has reached an agreement to sell its GTA business, one of the world's largest wholesalers of ground content, to Kuoni for USD720 million. The agreed sale is in line with Travelport's strategic plan to focus on maximising the potential of its core business. The sale GTA to Kuoni will significantly...
The Japanese LCC market could become much more competitive, with reports that Jetstar Airways and Spring Airlines are planning to launch units to operate domestic routes in Japan. To comply with foreign ownership regulations, the carriers reportedly intend to raise funds from Japanese companies to establish...
