European markets fell again on Friday (22-Jan-2010), after US President, Barack Obama, proposed earlier in the week to implement stricter limits on the size and trading activities of banks to reduce risk taking. Banking stocks fell again as a result, with Deutsche Bank and UBS AG sliding over 4%.
Azul Linhas Aereas SA confirmed that US fund, Texas Pacific Group (TPG) had acquired a 10% stake in the LCC. According to reports in Valor Economico, TPG will pay approximately USD20 million for the stake, but will not inject additional funds into the carrier (the TPG investment was reportedly facilitated...
Shares in Australian Infrastructure Fund (AIX) dipped 0.8% on Friday, upon the release of the airport operator’s traffic report for its Australian member airports for the six months ended 31-Dec-2009. Shares were down 1.0% on Thursday ahead of the release and have fallen a 1.33% in trading today.
WestJet has its work cut out for it. The 14-year-old Canadian carrier wants to grow 10% annually, but it has to reduce its current cost base to compete not only in the Canadian market, but on the world stage as well. It has the plans to carry out those ambitious goals, including increased emphasis on...
Airbus and Boeing, which still have the ongoing determinations from the World Trade Organization hanging over them, will reportedly oppose Bombardier's use of export-financing arrangements for its new CSeries regional jet, according to a report in the Wall Street Journal.
Korean Air posted a USD133.7 million operating profit and a USD106 million net profit in the fourth quarter, for the third consecutive quarterly net profit after six consecutive losses (and rebounding from a net loss of USD559 million in the previous corresponding period).
2009 was an annus horribilis for the Association of Asia Pacific Airlines (AAPA) in more ways than one. AAPA’s members carried 5.7% fewer passengers last year than in 2008, racking up significant losses in the process. But the Association also suffered the losses of Qantas and Air New Zealand from...
The first rule of holes states that when you are in one, stop digging. American’s Gerard Arpey would do well to put his shovel down. Two stories last week on CAPA’s website chronicled Mr Arpey’s comments on the airline’s performance and, given JAL’s questionable allegiance, the precarious...
Major airport hubs in Asia and the Middle East suffered less over 2009 than their counterparts in Europe and North America, but the year was anything but an easy. Of the world’s 50 busiest airports, just four reported growth in passenger traffic in 2009, according to CAPA.
After meeting with her counterparts in Europe, US Department of Homeland Security Secretary Janet Napolitano met with the International Air Transport Association as well as International Civil Aviation Organization to discuss how to improve aviation security and airport screening.
The majority of North and South American carriers stocks were down on Tuesday (26-Jan-2010), moving with the wider market. The Dow was flat as investors became cautious of major political and regulatory developments to be announced later this week, overshadowing a third consecutive improvement in US...
China’s economy is booming again and oil prices are around half their peak 2008 levels. For Chinese airlines, it’s a pretty simple equation, with pent-up demand expected to provide very strong traffic growth again in 2010 after surprisingly strong growth last year (particularly in the second half...
South African LCC, 1time has announced it is interested in serving the lucrative Johannesburg-Harare (Zimbabwe) sector, currently served by Air Zimbabwe, South African Airways and Comair.
Pundits say that when Las Vegas starts to come back you will know the recession has ended. Well, we aren’t yet, as too many hotel rooms are still chasing too few guests. While that effects Allegiant, with its focus on serving the Las Vegas market, it is not so harsh that the company missed a double...
As usual, those pesky special items conspired to move Delta’s year-end net profit of USD291 million into a net loss of USD1.1 billion, despite a USD6 billion decline in revenue year on year. The special items totaled USD169 million, with USD1.4 billion in fuel hedge losses. The company ended the year...
Air New Zealand has unveiled its new economy-class seating concept, the “SkyCouch”, which it says will “transform international air travel” when it is introduced in Nov-2010 with the delivery of its first new B777-300ER. The new economy “couches” and increasingly controversial promotional...
Shares in New Zealand’s Auckland International Airport Ltd rose 2.7% yesterday to NZD1.92 yesterday, ahead of company’s announcement of its intent to raise NZD126.4 million (USD89.4 million) through a fully underwritten pro rata entitlement offer.
Another major leasing company may soon be off the market, just a few weeks after the HNA Group completed the acquisition of Allco’s aircraft leasing arm.
AirTran’s shares fell 2.4% yesterday, despite expectations that the carrier will post an adjusted profit in 4Q2009, to be one of only a few of the major airlines to be profitable in the period and in every quarter in 2009. The carrier, in Dec-2009, stated it was expecting a record profit in 2009.
The International Monetary Fund (IMF) has revised up its global GDP forecasts, noting the economy is “recovering faster than previously anticipated”, having been battered over the past two years. The IMF is now forecasting 3.9% growth this year (up three quarters of a percentage point from its Oct...
Hong Kong shares fell to a four-month low on Tuesday on concerns over corporate profits and reports of further tightening in lending requirements to rein in runaway economic growth. The Shanghai Composite Index fell 2.05% to its lowest in nearly three months.
Aer Lingus, like many of its European legacy counterparts (including British Airways, Austrian, Lufthansa, Air France) is grappling with the question; ‘What to do with short-haul operations?’ For CEO, Christoph Mueller, the answer is; create a “civilised” airline based on a hybrid model.
Air New Zealand handled 2.6% fewer passengers in Dec-2009, as the carrier slashed capacity (ASKs) by 11.0% and demand (measured by RPKs) fell 5.6%, increasing Group load factors by a notable 4.8 ppts. Group yields last month fell 5.2% year-on-year (the smallest fall since Jun-2009), compared to a financial...
1time (-8.0%) shares were pushed lower by news during trading that the carrier has sold its Aeronexus Corporate subsidiary to two former Board Directors, Sven Peterson and Gavin Harrison, for USD217,851 (ZAR1.65 million).
United Airlines fairly crowed about its accomplishments during one of the worst years in airline history. “Losses narrowed, liquidity strengthened, operational improvements,” ran the headline on its release. And it has reason to crow, as does the rest of the industry that has worked so hard to achieve...
The majority of North and South American carriers made modest gains on Wednesday (27-Jan-2010), as the wider market moved into positive territory in the last 30 minutes of trading, after the US Federal Reserve announced they would keep interest rates near zero, ahead of President Obama’s State of...
European carriers’ stocks were mixed on Wednesday (27-Jan-2010), due to a fall in banking shares, as investors became cautious ahead of the US Federal Reserve’s decision on interest rates, which were left on hold.
Ferrovial SA Chairman, Rafael del Pino, announced yesterday the company plans to “continue to tap the markets” to finance operations, if they are as “liquid as they are now” before a decision to sell more airports.
AirTran’s shares gained 1.5% yesterday, upon the release of better-than-expected fourth quarter results, in which the carrier reported a net profit of USD17.1 million (compared to a loss of USD122 million in the previous corresponding period), to become one of only a handful of carriers to report...
Boeing's shares surged 7.3% on Wednesday, as the aircraft manufacturer reported a better than expected net profit of USD1.27 billion, or USD1.757 per share for the three months ended 31-Dec-2009. Quarterly sales at the manufacturer rose 42%, to USD17.9 billion, reflecting the two-month strike by machinists...
