The majority of North and South American carriers were down at the end of trading on Wednesday (03-Feb-2010), dragged lower by the wider market. The Dow (-0.3%) fell on weaker than expected service sector activity. A rise in oil prices (+0.3%), to USD76.98, also affected shares.
European carriers’ shares were mixed on Wednesday (03-Feb-2010), as equities markets ended trading down, on investor concern of the economic health of smaller countries on the periphery of the EU. Portugal’s sovereign debt reached its highest point ever, adding to concerns about Greece. A drop in...
Airbus has released its Asia Pacific aircraft orders forecast for the next 20-years, showing demand for some 8,000 new passenger and cargo aircraft valued at USD1.2 trillion. But with massive near-term deliveries, spare capacity on the ground, lower utilisation rates of the existing fleet and fragile...
Global airport passenger traffic in Dec-2009 showed "clear signs” of renewed passenger traffic demand at many airports worldwide, according to Airports Council International (ACI), with a “surge” in both passenger and freight traffic worldwide (albeit off a low base in 2008).
Asian growth could be the story of 2010 and beyond, with IATA stating that in 2009 intra-Asia-Pacific travel had eclipsed the number of travelers in North America as the world’s largest aviation market and Airbus forecasting that the Asia Pacific would overtake the US and Europe as the world's largest...
Kuwait National Airways (+3.7%) shares rebounded on Thursday (+3.7%) more than making up for the previous day's losses. Also in the Middle East, Jazeera Airways (+2.1%) and Royal Jordanian Airlines (+0.5%) made gains, while Air Arabia (-1.1%) ended trading down.
North and South American carriers’ stocks plunged on Thursday (04-Feb-2010), following the release of weak economic data in the US, including an unexpected increase in US jobless claims in Jan-2010, and an analyst downgrade of some carriers. Consequently, the AMEX Airline Index (-5.6%) was down, as...
A simple question on the lessons learned from the downturn, posed during last week’s Continental analyst call, resulted in the clearest indication yet of the structural changes now under way at US carriers. They go far beyond capacity, revealing the task ahead for legacy airlines. It also reveals...
Philippines is one the fastest growing air travel markets in the world, joining the likes of India, Mexico and Brazil in experiencing rapid passenger growth, driven by strong domestic air travel growth rates, as LCCs, especially locally based Cebu Pacific, provide a boost for the industry, entering...
Ryanair has raised its FY2010 earnings forecast to EUR275 million, as a smaller than expected yield fall (a 12% reduction, rather than the up to 20% reduction previously guided) helped narrow the carrier’s third quarter loss to EUR11 million (compared with EUR119 million in the previous corresponding...
European stock markets took a hammering on Thursday (04-Feb-2010), falling the most in ten weeks, and taking airline stocks down with them. Shares were affected by a decline in the banking sector, on concerns of peripheral Euro countries’ debts. Also during trading, the Euro Central Bank kept interest...
Bombardier’s new 110-149 seat CSeries regional jet is creating a storm of words in international aircraft manufacturing and the battles over the aircraft will help determine the future structure and rules governing financing of aircraft development and ordering.
Shares in Ferrovial, shareholder in BAA, slumped 11.3% yesterday, as Spain’s IBEX slid 5.94% yesterday. Spain’s sovereign debt levels and weak economic outlook is contributing to a lack of investor confidence in the past few days, with the International Monetary Fund (IMF) stating Spain is still...
Southwest Airlines (shares down 3.8% yesterday) stated passenger revenue per ASM for Jan-2010 is estimated to have surged 14-15% in the month - it largest PRASM increase by far in the past 12 months. The increase built on growth of 6.0% in Jan-2009.
Standing pat with solid contracts that do not change for another seven years, Pinnacle, which a market capitalization of about USD144 million as of 01-Feb-2010, is casting about for more opportunities in picking up business, as contracts between other regionals and their major contracts begin to expire...
Shares in Virgin Blue slipped 1.8% yesterday, despite the carrier stating it expects to report a net profit (before tax and exceptional items) of AUD80-100 million in FY2009/10, compared to a loss of AUD93 million in FY2008/09.
Oil prices slumped 5% on Thursday, dropping USD3.84 per barrel in New York (the biggest one-day fall since Jul-2009), to settle at USD73.14. Growing concerns about debt-laden European economies and rising US unemployment claims have sparked a commodities sell-off this week, while a stronger US dollar...
That the Colgan 3407 accident was caused by pilot error comes as no surprise, given the string of failures identified at this week's National Transportation Safety Board meeting. Indeed, so much of the board meeting seemed to be marked by failure which hung like a cloud over the proceedings. While...
News of the Republic/Frontier/Midwest integration is eked out like a near-springtime trickle from a great glacier. You know there is more to come, but have to wait for warmer weather. The weather was balmy yesterday, as Republic Airways Holdings CEO Bryan Bedford addressed the Raymond James conference...
Not only is there plenty of opportunity for regionals, said SkyWest CFO Brad Rich, but there are still opportunities for 50-seat lift; a good thing considering the high concentration of those aircraft in its 451-aircraft fleet. But the company is also looking at larger aircraft including Bombardier’...
Canadian aircraft manufacturer Bombardier saw 2009 aircraft deliveries down by more than 10% for the year to 31-Jan-2010, and expects deliveries to be cut by double-digit levels in the current fiscal year for both business and commercial aircraft.
European markets were down for a second day on Friday (05-Feb-2010), dragging down airline shares, as investors continued to express concern over debt in Eurozone countries. Early in trading, investors were also concerned ahead of US unemployment data, released later in trading. However, the data showed...
Dubai may have found another oil field recently, but it is the neighbouring emirate of Abu Dhabi that has all the cash. Abu Dhabi provided USD10 billion in emergency funding late last year to Dubai (although recent reports suggest the figure was about half that) to help Dubai narrowly avoid a default...
Oneworld partners, British Airways and Finnair are each beset by significant challenges, not least labour unrest and a need to cut costs. Despite this, BA managed to restore some respectability to its bottom line in the Dec-2009 quarter. The carrier unveiled an operating profit of GBP25 million (EUR28...
Norwegian Air Shuttle reported a 21% reduction in both yield and revenue per ASK in Jan-2010 (to NOK0.48/EUR5.87 and NOK0.34/EUR4.15), for the largest year-on-year yield reduction in over 21 months.
Owners of Kumho Asiana Group, parent of Asiana Airlines, have rejected a demand by creditors that they offer their shareholdings and assets as collateral for fresh loans, according to a report in the Korea Times. All restructuring steps would now be put on hold, with reports that key parts of the group...
Middle East and Africa airlines’ shares were mixed again on Friday (05-Feb-2010). Royal Jordanian (+1.1%) continued to make gains on Friday despite Jordan's Civil Aviation Authority cancelling the carrier’s exclusive right to operate scheduled flights to/from Jordan during trading.
The majority of North and South American carriers made gains despite a very modest rise in the wider US market on Friday (05-Feb-2010), with the Dow ending trading up 0.1%, following mixed US jobs data. It was announced during trading that the US unemployment rate unexpectedly fell to 9.7% for Dec-2009...
Japan Airlines (JAL) today announced its highly anticipated alliances decision. It has turned away from Delta and SkyTeam to strengthen its existing partnership with American Airlines. The carriers, both members of the oneworld alliance, will jointly apply to the US Department of Transportation (DOT...
Third quarter FY2009/10 financial results for India’s three large airline groups – Air India, Jet Airways and Kingfisher Airlines – and domestic LCC, SpiceJet, show mixed results at the net profit level, as two of the four carriers increased their revenues, while all four experienced traffic growth...
