Kenya Airways’ shares closed 2.3% higher on Friday. Also Kenya’s All-Share Index surged the most since 03-Aug-2010. The gauge has increased 2.1% this month.
Skymark Airlines (-4.0%), Tiger Airways (+3.9%) and 1time Holdings (7.7%) were the most active LCC stocks on 29-Oct-2010. Global markets were mixed on Friday, with investors around the world awaiting the results of this week’s US Federal Reserve policy meeting and mid-term elections.
North and South American airline shares were slightly lower on Friday (29-Oct-2010) mirroring wider markets. The Dow ended trading flat, while in Latin America, Chile’s IPSA (+0.5%) made a slight gain, as did the Brazil’s Bovespa (+0.5%).
British Airways (-3.6%) and Iberia (-2.5%) were the biggest decliners on Friday (29-Oct-2010) after BA remained cautious on its outlook for 2011. During trading, BA reported a net profit of GBP107 million for the three months ended 30-Sep-2010, compared with a loss of GBP217 million in the previous...
Brazil’s Embraer reported a 70% improvement in net profit in 3Q2010, declaring a net result of USD98.5 million for the quarter. The manufacturer’s order backlog remains stable at USD15.3 billion, mostly due to better ordering in its commercial aviation segment. Embraer raised its operating profit...
Shortly before celebrating its 10th anniversary of being listed on the New York Stock Exchange, Embraer President and CEO Frederico Curado, who rang the closing bell on Friday, reported the company posted a 22.1% gross margin in the third quarter compared to its 18.8% margin in 3Q2009.
CAPA is the leading global aviation knowledge practice, delivering market analysis and data to support strategic decision making at hundreds of the most recognised organisations in the industry. Established for 20 years, CAPA has developed an unrivalled reputation for independence, insight and integrity...
Ryanair has raised its full year profit outlook with the carrier now expecting to exceed the upper end of its previous forecast range of EUR350 million to EUR375 million, to report a profit of EUR380-400 million subject to 4Q yields. Based on forward bookings in the current quarter, traditionally the...
Philippines’ largest domestic carrier, Cebu Pacific, raised over USD500 million in its IPO as the carrier’s shares made their debut in late Oct-2010 on the surging Manila stock exchange. According to Bloomberg data, Cebu Pacific's fund raising exceeded initial levels achieved by other LCCs including...
KLM let it be known it plans to reduce services to key European cities in an effort to compete better with LCCs, with fares to be available for less than EUR100. Some routes will be switched to subsidiary Transavia but there is growing political opposition to the downgrading of Schiphol Airport’s...
Global LCC share prices were mixed on Monday 01-Nov-2010, as wider indexes mostly gained during trade. LCC news was dominated by the release of financials for Europe’s largest and third-largest LCCs, Ryanair and Air Berlin. Both achieved strong growth in key indicators on the back of recovering demand...
Ryanair (-5.2%) slumped on Monday (01-Nov-2010) despite stating it now anticipates winter yields to be slightly better than forecast. As a result, the LCC now expects the full-year yield increase to be at the upper end of the +5% to +10% range previously guided.
International Air Services Commission (IASC) approved (27-Oct-2010) Qantas' application to launch codeshare operations with Kenya Airways (0%), for Qantas services between Sydney and Bangkok and Kenya Airways services between Nairobi and Bangkok.
Atlas Air (+6.4%) stocks soared on Monday (01-Nov-2010) after President and CEO William Flynn stated the freight carrier now expects to report record adjusted earnings per share (EPS) of more than USD5.40 per diluted share for FY2010. This includes an expense of USD0.30 per diluted share in 4Q2010
India’s GVK Power and Infrastructure (+2.6%), which manages Mumbai International Airport Ltd and Bangalore International Airport Ltd, reports the following financial highlights for the three months ended 30-Sep-2010:
IATA, in its September-October Airlines Financial Monitor, stated airline share prices are “still on the way up” with the “second leg of the share price recovery well underway” reaching a level twice 2009’s lows. IATA added that it expects a widespread recovery in profits in 3Q2010 although...
Asian stocks rose, paced by the Hang Seng Index’s largest gain in more than four months, as growth in Chinese manufacturing bolstered confidence in the global economy.
Swiss regional airline Baboo, or Flybaboo as it is marketed, has announced plans to eliminate services from its main base at Geneva to London City and Athens airports from Nov-2010 as it continues to restructure in the face of ongoing losses. Baboo, which expanded its operations to include 18 destinations...
Despite the fact the third quarter was its 31st consecutive profitable quarter, the increased capacity poured on during its seasonally weakest quarter, drove down Allegiant’s operating margin from the 16.5% experienced last quarter to 12%. However, its total revenues were up 23% to USD163.6 million...
Shares in Lonrho, owner of Fly540, fell 5.6% in trading yesterday. The company reported a GBP2.6 million profit in 4Q2010 (three months to 30-Sep-2010)and strong results in its transport division.
Shares in SpiceJet climbed 6% to INR88.15 yesterday, the highest closing level since 17-Jan-2008, prior to the carrier announcing its financial results for the three months ended Sep-2010 and an order for up to 30 Bombardier Q400 turboprops. The carrier’s shares have gained 55% in 2010 compared with...
Airbus is expected to announce an order for 100 aircraft from China this week, following a state visit by Chinese President Hu Jintao to France. The order would be a major boost for the manufacturer, which is lagging well behind rival Boeing in aircraft orders this year. Airbus has 328 firm orders for...
Aeroflot (-0.7%) slipped on Tuesday (02-Nov-2010) despite reporting a 133.4% year-on-year increase in net profit to EUR183.6 million for the three months ended 30-Sep-2010 (according to Russian Accounting Standards). Net profit for the first nine months of 2010 rose 55.7% to EUR274.0 million.
LAN Airlines (+2.1%) gained on Tuesday (02-Nov-2010) after Fitch Ratings viewed LAN's recent announcement that the company has reached an agreement to acquire 98.942% of the outstanding shares of Colombian airline AIRES, through the purchase of its parent entities, as neutral to LAN's credit quality...
Ferrovial announced it has agreed to sell cargo and ground handling company Swissport International to a private equity fund for EUR654 million. The sale, to PAI Partners, represents a 95% gain on the EUR336 million that Swissport paid for the company in 2005.
Shares in SpiceJet climbed 6% to INR88.15 yesterday, the highest closing level since 17-Jan-2008, prior to the carrier announcing its financial results for the three months ended Sep-2010 and an order for up to 30 Bombardier Q400 turboprops. The carrier’s shares have gained 55% in 2010 compared with...
KLM let it be known it plans to reduce services to key European cities in an effort to compete better with LCCs, with fares to be available for less than EUR100. Some routes will be switched to subsidiary Transavia but there is growing political opposition to the downgrading of Schiphol Airport’s...
In Sep-2010, Australia’s Department of Infrastructure and Transport released a tender to finance firms to provide modelling on five different scenarios for a second Sydney airport: how they would be paid for and how well they would cater for transport needs in 10, 25 and 50 years. But a second Sydney...
CAPA is the leading global aviation knowledge practice, delivering market analysis and data to support strategic decision making at hundreds of the most recognised organisations in the industry. Established for 20 years, CAPA has developed an unrivalled reputation for independence, insight and integrity...
Westjet posted CAD54 million in net earnings for 3Q2010, marking a large swing that showed the carrier’s earnings up 72% from 3Q2009. Its operating margin rose to 13.2% for the quarter compared with 12.8% in the third quarter of 2009. Meanwhile, its pre-tax margin was up from the 8.3% in the 2009...
