North and South American stocks were mixed on Wednesday (20-Jan-2010) as the market spent most of the session deeply in negative territory, following news Chinese regulators have ordered some of the country’s banks to temporarily stop lending, in order to slow credit growth.
All carriers, except for Kuwait National Airways (+0.0%), made gains on Wednesday (20-Jan-2010).
The German aviation market is a dynamic one, dominated by European giant, Lufthansa, and its host of subsidiaries, and also featuring Europe’s third largest LCC, Air Berlin, which has, like Lufthansa, also been pursuing an acquisition strategy. The market also features an assortment of smaller LCCs...
Tiger Airways Holdings’ IPO has to be considered a success in today’s difficult times. With 165.1 million shares offered, priced at SGD1.50, the heavily oversubscribed share issue this week raised SGD247.7 million, valuing the company at SGD781.3 million. Tiger shares will be listed on the Singapore...
International share markets, including Europe, were down on Wednesday (20-Jan-2010) on news Chinese regulators have ordered some of the country’s banks to temporarily stop lending (until the end of Jan-2010), to slow credit growth, after a surge in lending so far this year.
DVB Bank, a specialist in global transport finance, cautioned that the “lenders of last resort” – Export Credit Agencies – will again be crucial in the avoidance of a funding gap for commercial aircraft deliveries in 2010, after playing a major financing role last year.
Shares in Macquarie Airports (MAp) surged 6.5% yesterday, upon the release of the fund's traffic report for its investment airports for Dec-2009 and the 12 months ended 31-Dec-2009, which showed market weakness over the full year, but signs of improvement in late 2009.
Ryanair’s shares slipped 1.5% yesterday, as the carrier’s CFO, Howard Millar, stated Europe’s largest LCC is planning its first fare increase in four years, in order to sustain earnings growth amid ongoing route expansion. The carrier is likely to raise fares in FY2010/2011 (commencing 01-Apr-...
China Airlines’ shares slipped 0.9% yesterday, despite the carrier reporting improved year-on-year yield improvements for Dec-2009. The worst may now be behind the carrier, after yields appear to have bottomed out in Jul-2009/Aug-2009.
Dec-2009 traffic results at the three major European airports - London Heathrow, Paris Charles De Gaulle (CDG) and Frankfurt International – indicate a gradual stabilisation in passenger traffic. However, there are still challenging times ahead in 2010, with full year data showing traffic is still...
American Airlines narrowed its loss for the fourth quarter of 2009 and spoke of rebounding business travel. But a wide range of issues from JAL to taxes are ahead for American. Both analysts and media were naturally anxious to hear from the horse's mouth on what is going on with JAL and what the loss...
Overflight traffic in Irish Aviation Authority airspace declined by just 2.5% in Dec-2009, admittedly on already depressed 2008 levels. The decline is the smallest year-on-year reduction in overflights seen by the IAA in more than 12 months, and a sign that traffic flows between Europe and North America...
The LCC sector has triggered an ancillary revenue (merchandising) revolution, with airlines worldwide expected to generate USD58 billion in ancillaries this year. Baggage fees are one of the fast growing items in a portfolio developed largely by LCCs that also includes seat allocation, inflight services...
easyJet, Europe’s second largest LCC, reported a solid set of financial results for the three months ended Dec-2009 (1QFY2010), ending 2009 as the “best performing European airline during 2009”, according to CEO, Andy Harrison, who added that expects the carrier to deliver “substantial profit...
This apocryphal saying, already widely in use by 1980 when Time Magazine did a story on Atlanta (ATL) airport, sums up the range of feelings engendered by the facility. By being the busiest airport in the world it has created its own aura and, even amongst non-travelers, evokes images of a sea of humanity...
Continental Airlines' shares dropped 2.3% in trading yesterday, falling in line with the general market after positive morning trading, despite a small 4Q2009 net profit and a positive, albeit cautious and conservative, outlook for 2010.
“Flat is the new up,” Southwest Chair & CEO Gary Kelly told analysts yesterday in reporting a USD116 million profit in the fourth quarter of 2009, compared to the USD56 million loss for the previous corresponding period. For the full year, the airline earned USD99 million, a 44.4% drop from 2008...
Continental Airlines managed to squeeze a surprise USD85 million profit for the fourth quarter or USD0.60 per diluted share. For the full year 2009, Continental reported a net loss of USD282 million, or a loss of USD2.18 per diluted share, a 51.9% swing from the USD586 million lost in the year-ago period...
As Boeing gets on with the certification processes for the B787, more details are emerging over the aircraft’s delivery schedule. Lead customer, All Nippon Airways, is due to receive its first aircraft sometime in 4Q2010, but news on deliveries to other carriers has been scarce.
All of the listed Middle Eastern airline shares were lower yesterday, with Jazeera down 2.0%, Kuwait National Airways slipping 1.8% and Air Arabia 1.1% weaker. Among the African carriers, Kenya Airways’ shares slipped 0.9%, while shares in 1time Holdings gained 2.2%.
Luthansa (shares down 0.6% yesterday) will hold off a possible sale of bmi until earnings can be restored, with a spokesman stating, “we’re trying to fix things". He added, "the emphasis is to make bmi profitable, and then we can see.”
Southwest Airlines’ shares gained 3.1% yesterday, as the carrier reported a 4Q2009 profit and its 37th consecutive year of profitability in 2009, in a year that CEO, Gary Kelly, described as “perhaps, the most difficult revenue environment the airline industry has ever faced”.
Shares in MAp lost 3.2% yesterday, ahead of the release of airport operator’s financial report for Sydney Airport for the three months and 12 months ended 31-Dec-2009. MAp increased its revenue by 11.1% and 5.0% in both periods, respectively, as revenue per passenger increased 3.6% year-on-year for...
The US Energy Department's Energy Information Administration (EIA) reported this week that US oil consumption continues to ease, falling 1.8% year-on-year over the past four weeks. The EIA stated that aviation jet fuel demand is falling in the US.
Air New Zealand’s shares were down 0.8% yesterday. CEO, Rob Fyfe, told The Australian that he expects it will take up to three years for the carrier to fully recover from the global economic crisis, adding that although demand is now improving, the carrier is yet to see a significant improvement in...
AMR Chair and CEO, Gerard Arpey, has stressed the company’s FlightPlan 2020 plan (which outlines goals for American for the next decade) centeres on five principles which all conspire to ensure more profitability for the carrier. Those principles include investing wisely, earning customer loyalty,...
US scheduled airline employment dropped 3.3% in Nov-2009 from the year-ago period, the 17th consecutive decline in full-time equivalent employees (FTEs) from the same month in the previous year, according to the Department of Transportation's Bureau of Transportation Statistics (BTS). Full-time employment...
Kenya Airways (-0.9%) fell the least of all carriers in the region on Friday.
North and South American carriers stocks fell with the wider market on Friday (22-Jan-2010), which suffered its worst week since Feb-2009. Stocks fell on President Obama’s proposal for stronger limits on banking risks, in a week when stocks were already weak due to poor sentiment from 4Q2009 financial...
Lufthansa Chairman and CEO Mayrhuber has a conflict. Hopefully it will remain at the conceptual level, and not become industrial. Last week, the airline transmitted a flurry of “it could be worse than it looks” messages, mainly for the consumption of Lufthansa’s vigilant Vereinigung Cockpit pilots...
