Private Jets Charter News

NAV CANADA - Rate increase hinges on traffic performance

The latest Apr-2010 traffic figures from NAV CANADA may have ostensibly been negative, but the underlying traffic trend is good news for airlines, in more than one way. During its latest quarterly results announcement, the Canadian air navigation services provider announced that it would carefully monitor...

Jazz Air attendants vote to support strike; GOL and TAM make minor gains

Canadian and Latin American carriers’ stocks were mixed on Monday (31-Mar-2010) as the US market remained closed for the Memorial Day public holiday. The majority of carriers made little movement for the session. Oil prices gained 0.9% to USD74.64 per barrel.

Majority of global low cost carriers climb, Vueling, Skymark and Air Arabia

The majority of global low cost carrier stocks advanced in lighter trade on Monday (31-May-2010), as the London Stock Exchange and US Wall Street remained closed for national holidays.

Vueling expanding from Barcelona El Prat; Aegean Airlines' future stakeholder report net loss

European airline shares were mixed on Monday (31-May-2010) during a relatively quiet day of trading. The London Stock Exchange and US Wall Street were closed for national holidays.

European ATM - 2010: The year of the aviation strike?

2010 could well be the year of the aviation industry strike, particularly in Europe, where the combination of cost cutting, lay-offs and a slow-boil on the economic recovery is creating a simmering mix of worker militancy. Pilot, cabin crew and air traffic controller (ATCO) strikes have simmered across...

Ryanair returns to net profitability in FY2011; proposes first ever dividend

Ryanair returned to profitability in the 12 months ended Mar-2010 (FY2010), with a net profit of USD305 million, exceeding its forecast of EUR275 million and resulting in a 7 ppt net margin improvement to 11%. Operating profits, meanwhile, increased 334% to EUR402 million, resulting in an 8 ppt improvement...

US regional market changes drive jet vs turboprop debate

A general theme emerged during this year’s Regional Airline Association meeting where attendees – manufacturers, suppliers and airlines – expressed optimism, but saw increasing challenges that could transform the industry from what it is now, as covered in this CAPA report.

Continental Airlines reports rise in load factor; US Airways identifies potential merger partners

North and South American carriers’ stock slumped on Tuesday (01-Jun-2010), on a decline in the market, with the Dow (-1.1%) falling on concerns over slowing manufacturing activity in Europe and China. The decline in airline stocks was despite a fall in oil prices (-2.8%) to USD72.58 per barrel.

SAS sets record date for reverse spilt; Aeroflot and parent gain

European carriers’ shares were mixed on Tuesday (01-Jun-2010) as wider markets fell on concerns of slowing manufacturing activity in Europe and China. Oil prices were down 2.8% to USD72.58, slowing the decline in airline shares.

Air Arabia Egypt launched, Royal Jordanian commences Amman-Kuala Lumpur service

Air Arabia launched Air Arabia Egypt at a ceremony in Cairo yesterday. Air Arabia's operations from Egypt will commence on the Alexandria-Khartoum service and the carrier will initially operate two A320s. Further destinations will be announced shortly.

Moody’s maintain ‘stable’ rating for Australia’s airport sector: MAp surges, AIX declines

Moody's Investors Service maintained its "stable" rating for the Australian airport sector in 2010-2011, adding that intense price competition among airlines and strong business activities should encourage further growth.

Ryanair’s net profitable soars in FY2011; proposes first ever dividend

Shares in Ryanair gained 7.5% yesterday, as Europe’s largest LCC reported a 204% year-on-year increase in profit after tax to EUR319 million for the 12 months ended Mar-2010 and proposed its first dividend since it went public more than 10 years ago.

AirAsia extends gains, Virgin Blue extends losses

AirAsia’s (+2.5%) shares continued to rise yesterday as investors digested the carrier’s positive first quarter earnings report. OSK Research Sdn Bhd upgraded the airline's stock from “neutral” to “trading buy” after the airline’s management signaled potential “corporate exercises”...

Continental Airlines’ yields and load factors flying high

Continental Airlines is the first US carrier to report May-2010 data and the figures were again positive. Consolidated (mainline plus regional) load factor rose 2.9 ppts year-on-year to 83.8%, while mainline load factor rose 2.8 ppts to 84.1%. Both were records for the month of May.

Vueling responds to the Ryanair threat at Barcelona

Vueling President, Josep Piqué, stated the carrier plans to add up to 418 new weekly services from Barcelona’s El Prat Airport from 05-Jul-2010, adding that he expects passenger throughput at the airport to increase by more than 10% in 2011. In response to Ryanair’s announcement it was opening...

Garuda Indonesia heads back to Europe after six-year break, but condemned to price leadership

Garuda Indonesia made its much-anticipated return to European skies yesterday for the first time in six years, operating daily Jakarta-Amsterdam service via Dubai. B777-300ER equipment will replace A330s on the route next year and Garuda plans to serve other points in Europe, namely Frankfurt, London...

Mergers are the best solution for network airlines - Cordle

Bob Crandall’s suggestion to change bankruptcy and labor laws should result in less destructive fare competition. However, mergers still work best for the network airlines because profitability will still be inadequate even if the laws are changed. Mergers allow the network airlines to divert from...

New consumer rules will likely cost airlines USD3 billion

Only a week after the US Department of Transportation convened its Future of Aviation Advisory Committee, designed to help the airline industry, the DoT issued proposed new consumer regulations that could cost the industry USD3 billion in lost reservation and baggage fees and higher compensation for...

Jazeera Airways and Kuwait National Airways down, Air Arabia and Kenya Airways make gains

Jazeera Airways (-7.0%) and Kuwait National Airways (-1.9%) were both down at the end of trading on Wednesday (02-Jun-2010). The Kuwait Stock Exchange (+0.1%) started the day strongly on news Standard & Poor's affirmed an ‘AA-/A-1+’ sovereign credit rating for the country.

United Airlines up on ‘Buy’ rating; Alaska Air reports improved loads; AirTran passenger numbers up

North and South American carriers’ stock surged on Wednesday (02-Jun-2010) on improved traffic results from Continental Airlines (+12.6%) the day before and a boost in the wider market.

Iberia expects British Airways merger to be completed by Nov-2010; easyJet rises

European airline shares experienced another day of mixed trading on Wednesday (02-Jun-2010) as wider markets ended the session flat. A slight gain in oil prices (+0.4%) for the day, to USD72.86, sent some airline shares lower.

Bombardier reports USD225m revenue decline in 1Q2010, commercial deliveries down 50%

Bombardier reported a USD225 million decline in net revenue in 1Q2010, as revenue from commercial aircraft dropped by CAD301 million, a decline of nearly 50% year-on-year. Net profit was USD153 million, a marginal decrease on the USD158 million earned in 1Q2009. The result, in a difficult climate for...

Fraport expects EUR80 million EBITDA improvement in 2010: Airport Share Wrap

Fraport AG Chairman, Dr Stefan Schulte, announced the airport management group had weathered the global economic storm well and took advantage of the time to implement far-reaching decisions for the future. For the current year, Dr Schulte expects revenue to rise thanks to the "recovery in air traffic...

GAAM restructures; Former Qantas executives Dixon, Gregg, as well as Coe and Carnegie join board

Global Aviation Asset Management (GAAM), an Australian aircraft lessor, has today announced a change to the ownership structure of Global Aviation Holdings Fund (GAHFL) and the appointment of a new Advisory Board, including former Qantas CEO and CFO, Geoff Dixon and Peter Gregg, as well as former Allco...

Virgin Blue’s share price loses more altitude; extensive review of operations announced

Shares in Virgin Blue were weaker again yesterday having fallen sharply after last Friday's warning. The stock lost another 6.6% yesterday on three times average daily volume.

Cypriot unions accept the ‘inevitable’ – a merger of Cyprus Airways and Eurocypria

Cyprus-based Eurocypria’s trade unions this week stated they had no opposition to a merger between the carrier and Cyprus Airways. A report on a merger between the two government-owned carriers is being compiled by KPMG and is due before the end of Jun-2010. In an unusual case, the Cypriot Government...

The fallacy of airline mergers: Two drunks holding unto each other will not walk straight – Pilarski

The above is a quote of what I told the Wall Street Journal a few years ago when commenting on mergers. Two weak companies joining each other will not miraculously become one strong one. This is worth remembering in light of recent developments in the US where airlines are merging at an increasing...

Fitch affirms Boeing rating, Bernstein upgrades

Fitch Ratings has affirmed its Issuer Default Ratings and debt ratings for Boeing and Boeing Capital at A+/F1, although its rating outlook for the two companies remains negative. Boeing Capital’s ratings are linked to Boeing’s ratings due to support agreement and other factors such as transactional...

WestJet and Air Canada report traffic gains; US Airways load factor rises only 0.3 ppts

North and South American airline stocks were mixed on Thursday (03-Jun-2010), despite a number of carriers reporting improved passenger traffic for May-2010. Gains in airline stocks were mitigated as investors were cautious ahead of Friday’s key jobs report, with the Dow (+0.1%) gaining slightly in...

Air France-KLM reports 4.3% rise in traffic; British Airways passenger numbers decline

All European airline shares, except for Aegean Airlines (-0.8%) and SAS, rose on Thursday (03-Jun-2010), moving with wider markets. Energy and mining sectors pushed markets higher, as investors sought to purchase shares on the cheap.