African Airlines Association (AFRAA) and Kenya Airways (-1.0%) announced during trading that the airline has rejoined AFRAA, after a six year absence, following a meeting between AFRAA Secretary General, Nick Fadugba, and Kenya Airways Group Managing Director and CEO, Dr Titus Naikuni.
Chile's President-elect Sebastian Pinera will take over from current President, Michelle Bachelet, on 11-May-2010, inheriting a country and infrastructure shattered by the 8.8 magnitude earthquake early on Saturday (27-Feb-2010). Mr Pinera is currently working with Mrs Bachelet to coordinate recovery...
Lonrho (-9.6%) shares slumped, losing the gains it made the day prior, after its LCC subsidiary, Fly540 Zimbabwe, stated during trading it has yet to receive an AOC from the Civil Aviation Authority of Zimbabwe.
LAN Airlines (-1.8%) was one of only two North and South American carriers to experience a decline in stocks on Monday (01-Mar-2010), after it was forced to cancel 17 flights to/from Santiago over the weekend as a result of Chile’s 8.8 magnitude earthquake on 27-Feb-2010. It was a mild fall, suggesting...
AerCap and Genesis Lease have continued their strong recent share price performances, reporting gains of 3.8% and 4.6%, respectively yesterday, as they draw ever closer to their merger, expected to be closed on 25-Mar-2010.
Continental reported another encouraging set of traffic results for February, with its first month of positive yield growth since Dec-2008 and continued record load factors.
The Nordic market is a good case study of the general requirements for carriers operating in a challenging environment, emphasising the need for airlines to adapt to the environment or perish. While each of major carrier has adopted differing strategies throughout the global economic crisis, the successful...
Shares in GEMINA SpA, the holding company of Aeroporti di Roma (AdR) gained 1.3% yesterday, as Singapore Changi Airport Group (CAG) acquired a 5% stake in the Italian airport operator through its wholly-owned subsidiary, Changi Airports International (CAI), for USD70.9 million.
European airline shares were generally higher yesterday amid a solid session for European equities. Lufthansa added 1.3%, while British Airways rose 0.6%.
US airline shares rose again on Monday on the back of positive US economic data, raising hopes of demand improvements and future growth, as the world’s largest economy shows evidence of a steady recovery.
Qantas Chairman, Leigh Clifford, and CEO, Alan Joyce, announced the resignation of Chief Financial Officer and Board Member, Mr Colin Storrie, citing personal and health reasons. Mr Clifford said Mr Storrie’s resignation would take final effect from 05-Mar-2010 and that the Board had agreed to succession...
Virgin Blue appointed John Borghetti as the company’s new CEO and Managing Director, effective 08-May-2010, replacing outgoing CEO Brett Godfrey. Mr Borghetti resigned from Qantas in May-2008 after 36 years at the carrier. Mr Borghetti was among a handful of employees tipped to replace Geoff Dixon...
Malaysia Airlines’ Senior GM Network and Revenue Management, Ain Khan, in an interview with Bloomberg, confirmed the carrier is considering introducing Premium Economy seating in its six on-order A380s, commenting that it would "provide another option for our passengers".
MAp Group airports, Sydney, Copenhagen and Brussels, have come through the global financial crisis looking better than ever, according to CEO, Kerrie Mather. Talking exclusively to CAPA’s Airport Investor Monthly, Ms Mather describes the drivers of MAp’s performance in 2009, the outlook for 2010...
Royal Jordanian (-1.0%) declined on Tuesday (02-Mar-2010). The carrier announced during trading that it has signed an MoU with USAID/Jordan Tourism Development Project II (Siyaha II), agreeing to cooperate in setting up an environmental management plan (EMP) for RJ.
North and South American carriers’ stocks went against wider markets on Tuesday (02-Mar-2010), falling lower after Continental Airlines (-3.3%) stated constant snow storms have cost the carrier USD25 million in lost revenue. The AMEX Airline Index fell 1.2% as a result.
European shares climbed for the third consecutive day on Tuesday (02-Mar-2010), reaching a near six-week high. Banking and auto maker shares were the biggest gainers, ahead of the release of new austerity measures by Greece to handle its debt issues. As a result, the majority of European carriers’...
Shares in Auckland Airport jumped 1.6% yesterday, upon the release of its traffic report for Jan-2010. Domestic passengers led the way up, increasing 11.8% year-on-year to 481,995, while international passengers rose 1.8% year-on-year to 733,296, despite a 2.8% reduction in aircraft movements to 12,...
The European Low Fare Airline Association (EFLAA) announced that its 11 members (Blue Air, bmibaby, easyJet, Flybe, Jet2.com, Norwegian, Ryanair, SverigeFlyg, transaviation.com, Vueling and Wizz Air) carried 162.5 million passengers in 2009, an 8.7% year-on-year increase, equating to an additional 13...
UK aerospace and defence supplier, Meggitt, reported a 1% drop in revenue in 2009 and a 3% cut in operating profit for the year, as increased military sales and better currency exchange effects offset the downturn in the company’s civil aerospace markets.
IATA reports that Asia Pacific carriers experienced a 6.5% increase in demand in Jan-2010, adding that “of the improvement in demand seen since the early 2009 low point, 31% has been realised by carriers in the region, which is leading the global economic recovery”.
If Continental’s experience is any measure, the US airline industry may be looking at USD150 million in storm-related losses for February and certainly more than that for the first quarter. Yesterday, the Houston-based carrier indicated that February’s series of 'snowpacalypses' that ran up the...
IATA has commenced including data from non-member LCCs and estimates for other non-reporting airlines in its monthly industry traffic reports, to make for a “more accurate representation of total international passenger and freight markets”, adding, “all airlines are competing for this traffic...
The latest international air traffic report from IATA (for Jan-2010) confirms the industry is recovering as a whole, but there is a growing divergence between the ‘Haves’ (ie strong economies, traffic growth) and the ‘Have-nots’ (tepid economies and traffic growth). IATA observed, “the pace...
Aviation headlines in the Middle East tend to be dominated by the ambitious sixth freedom hub players (the ‘Big Three’: Emirates, Etihad Airways and Qatar Airways). However, there are some major developments at the second tier full service carriers in the region, such as Oman Air, Royal Jordanian...
In South Africa, Lonrho's shares (+4.2%) gained again, after the company stated its African businesses are growing. The carrier reported a decline in losses before tax to GBP4.5 million for the 12 months ended 30-Sep-2009, from GBP38.7 million in 2008. Net loss for the year was GBP5.3 million, significantly...
European airline stocks were mostly up on Wednesday (03-Mar-2010), moving higher with the wider market after Greece released a new set of austerity measures to overcome its debt issues. However, gains were capped by a 1.5% rise in oil prices, to USD80.87.
North and South American carriers’ stocks were mixed on Wednesday (03-Mar-2010), on varied traffic results from US carriers. Stocks also tended to move with the wider market, with the Dow (-0.9%) slipping, after the US Federal Reserve stated loan demand was still weak. However, losses were trimmed...
The “M” word – merger – has been trumpeted in US airline circles since December, particularly once the analyst community began to see there might be a light at the end of the recessionary tunnel. A mere three months later, merger is on the tip of the tongue both in the executive suite, as well...
Continental will be offering customers the option for as much as an additional seven inches of legroom when they check-in for their flight. The airline has no projected revenue target for the new feature, nor does it have a single price. “It depends on the length of the flight, the market and even...
