Japan’s Ministry of Land, Infrastructure, Transport & Tourism (MLITT) Minister, Seiji Maehara, has proposed to the Governor of Osaka a plan to transform Osaka Airport into a stock company and integrate it with the offshore Kansai International Airport under joint management. The justification is that...
Fresh out of its merger with Genesis Lease, AerCap has reported a USD34.4 million net profit in 1Q2010, from revenue of USD364 million, a surge of 75% from the same period last year.
Jazeera Airways (-6.7%) was the only decliner in the Middle East on Monday (10-May-2010) despite stating over the weekend that it expects to generate a profit in 2010.
North and South American carriers’ stocks soared on Monday (10-May-2010), moving with the wider market, after European leaders agreed to an emergency bailout package worth almost USD1 trillion for countries shut out of credit markets. Consequently, the Dow (+3.9%) soared, pushed higher by the banking...
European aviation stocks soared yesterday as relieved investors welcomed the move by eurozone economies and the IMF to create an almost USD1 trillion rescue fund to prevent Greece’s sovereign debt crisis from spreading.
Hainan Airlines, China Southern Airlines and Air China slumped around 10% on Mainland Chinese stock markets yesterday on lingering concerns about European air space closures. The falls for China Southern and Air China were more muted in Hong Kong yesterday, with both stocks easing 1.6%.
easyJet shares (-4.2%) suffered the biggest loss of the day of the LCCs tracked by CAPA's Peanuts! Daily after reporting a narrowed net loss of GBP58.9 million for the six months ended 31-Mar-2010, compared with a loss of GBP116.5 million in the previous corresponding period.
Lonrho (-4%) declined on Tuesday (11-May-2010) following the release of its interim results for the six months ended 31-Mar-2010 after reporting a loss before tax of GBP1.5 million compared with a profit of GBP0.6 million for the same period in 2009. However, Lonrho’s trading profits showed an improvement...
In Europe, shares in Germany’s Fraport dipped 0.8% yesterday, as the airport operator stated it expects passenger traffic at Frankfurt Airport to increase by 1-2% for FY2010, depite the negative affect of the volcanic ash shutdowns. Fraport Group EBITDA is projected to be at approximately EUR635 million...
Renewed selling hit European stock markets yesterday as investor euphoria over the USD1 trillion eurozone rescue package faded after strong gains on Monday.
North and South American airline stocks were mixed on Tuesday (11-May-2010) as falls in the Dow (-0.3%) and oil prices fell 0.6% to USD76.37. The AMEX Airline Index (-0.2%) slipped as a result.
EADS shares jumped 3.5% in trading yesterday, recovering much of the ground the shares lost last week. The company has been upgraded from hold to buy by Citigroup, which expects deliveries at the manufacturer to remain flat to 2012.
Chinese airlines shares slumped yesterday as the benchmark Shanghai Composite Index fell 1.9% to an 11-month low on concerns Beijing will tighten credit to prevent the economy from overheating. Inflation in China is at an 18-month high, while bank lending is surging ahead of expectations.
Emirates has declared a USD964 million profit (AED3,565 million) for the 12 months to 31-Mar-2010, an impressive performance against a backdrop of the worst global recession in generations. Chairman and CEO of the carrier, Sheikh Ahmed bin Saeed Al Maktoum, described the period as the airline’s “...
Jazeera Airways' (+2.4%) shares gained on Wednesday (12-Mar-2010) after announcing short-term expansion plans at Kuwait International Airport. The work includes the construction of seven additional gates by the end of 2010, as an interim measure before the construction of a dedicated terminal at the...
MTU Aero Engines' shares continued their strong upward rally, gaining 7.7% on Wednesday to close at EUR47.51 per share. Since early May-2010, the shares have gained more than EUR8 in value, hitting highs not seen since early 2008.
There are at least a dozen airlines around the world that have publicly talked about tapping equity markets to help diversify funding sources as they seek to fill significant aircraft orders. But timing is everything and some of the IPO plans covered in this report have been around for several years...
An interesting thing happened with the last few quarterly conference calls. Executives began reporting how much money employees received in incentive payments for meeting performance goals related to the Department of Transportation’s consumer metrics. And the numbers reported seemed impressive, until...
North and South American carriers’ stocks gained again on Wednesday (12-May-2010) boosted by an analyst note and gains in the wider market. The Dow (+1.4%) rose on a boost in the technology sector, particularly gains from IBM.
North and South American low cost carrier stocks gained yesterday boosted by gains in the wider market. The Dow (+1.4%) rose on a boost in the technology sector, particular gains from IBM. The AMEX Airline Index ended trading up 3.6%.
The majority of European carriers’ shares gained on Wednesday (12-May-2010), moving with wider markets on improved financial results from businesses including Allianz and ING Groep and news the Spanish Government plans to cut its budget deficit. UK markets also rose after the appointment of a new...
Aeroports de Paris (AdP) stated it has “made the assumption” traffic would grow by 0.5% in 2010, given a “more favourable outlook” for the coming months, following the closure of Paris-Charles de Gaulle and Paris-Orly airports in Apr-2010 due to volcanic ash shutdowns across Europe, with an...
Korean Air and Asiana Airlines defied a 0.4% fall in the South Korean Kospi Index yesterday, as investors become increasingly optimistic about rising demand and the earnings outlook. Their stocks both rose 5% on Wednesday on expectations for strong traffic in May – a month including several public...
Five days of horse trading followed the British General Election on 06-May-2010, which ended in a stalemate with no single party having a working majority in the House of Commons. The eventual outcome was a Conservative-Liberal Democrat coalition, announced on 11-May, the first in the UK for 70 years...
Tiger Airways Group has turned around its operations from last year, to post a valuable profit of SGD28.2 million for the 12 months to 31-Mar-2010. The carrier was recently listed, and labelled the result a clear indication of the success of its “pure” low cost model. And, while average fares have...
Already suffering under a nearly USD20 billion fee and tax bill that does not even include property or income taxes, the Air Transport Association of America (ATA) is protesting what it calls “another unjustified flight tax” as the UK’s newly minted coalition government scrapped its highly controversial...
AirTran plans to maintain a fleet size of 138 aircraft in 2010, with capacity (ASMs) growth of 3%-4%, while fleet size will increase to 145 aircraft in 2011 (+3-4% ASMs) and 153 aircraft in 2012 (+5-7%). US LCCs are estimated to provide 29% of domestic capacity (ASMs) in 2010, against 55% by full service...
North and South American carriers shares slipped with the wider market on Thursday (13-May-2010), with the Dow (-1.1%) ending the session lower on warnings from Cisco Systems and Kohl’s Corp that the economy is still weak. Stocks were also hampered by a probe into whether banks misled customers about...
Jazeera Airways' (-2.3%) shares were down on Thursday (13-May-2010) despite receiving shareholder approval to fund the acquisition of Sahaab Aircraft Leasing by raising the company's capital to USD144.8 million through a rights issue of 200 million shares. The acquisition will appear in Jazeera Airways...
The majority of European carriers’ shares were up again on Thursday (13-May-2010) as wider markets made minor advances. Ongoing concerns over sovereign debt issues were offset by improved financial results from BT Group, 3i Group and Sainsbury.
