Jon Sharp, the CEO of engine leasing specialist ELFC believes the market has reached an equilibrium in engine supply and demand after the “frantic sell activity” of 2008 and 2009. Mr Sharp also provides a unique industry viewpoint of the prospects for 2010, the Airbus-Boeing narrowbody re-engining...
Shares in Copenhagen Airports A/S jumped another 4% yesterday, continuing a solid rally for the Danish airport operator, as it reported a solid increase in traffic last month.
Another rally on US stock markets yesterday was brought to a halt when the Federal Reserve issued a revised forecast for US GDP growth in 2010, trimming expectations from 3.2-3.7% to 3.0-3.5%. The Conference Board stated the rebound effects from the recession have “almost entirely dissipated” and...
Boeing’s shares gained 0.5% and Airbus parent EADS eased 1.5% yesterday. Air China is reportedly in discussions with both manufacturers regarding an order for new widebody aircraft, including A350 and B787 aircraft, according to a Dow Jones report.
In what is expected to be a prelude for similar approval in the US, the European Union approved the anti-trust immunity (ATI) between American Airlines, British Airways and Iberia for trans-Atlantic cooperation – with concessions. In addition, the European Commission approved the merger between the...
All Nippon Airways' (ANA) shares gained 3.5% to JPY297 yesterday, as JPMorgan Chase & Co raised its rating on the stock from “underweight” to “neutral”.
The New York Stock Exchange’s Arca Airline index fell 0.61% as US airline stocks languished. The largest falls were United Airlines (-3.2%), Continental (-3.0%) and JetBlue (-2.7%). Delta too lost 1.6% in value.
Air Berlin announced the sale of two of its A320 aircraft to Avolon, under a sale and lease-back structure. The aircraft will continue to be operated by Swiss-based carrier Belair, a subsidiary of Air Berlin.
Jet Airways entered a codeshare agreement and network-wide frequent flyer partnership with Kenya Airways (-0.5%), effective 22-Jul-2010. The agreement covers Kenya Airways’ daily services between Mumbai and Nairobi allowing Jet Privilege members to earn Tier Points, Tier JPMiles and Tier Bonus JPMiles...
Turkish Airlines' shares improved 1.4% on reporting a 19.3% increase in passengers, to 13.4 million, in the first half of 2010. The carrier flew 24.5 million passengers in the full year 2009 and 22.5 million in 2008.
Shares in Ferrovial surged 9.7% yesterday to EUR6.50, gaining the most since 10-May-2010. While Ferrovial Airports is the division that integrates all of Ferrovial's airport operations and management activities, including BAA, it was the company’s other infrastructure investments that led to the strong...
This second in a special two-part CAPA report looks beyond the headline-grabbing "big three" European LCCs to provide updates on more than 20 secondary low-cost operators. Part II reviews the progress at Monarch, NIKI, Pegasus Airlines, SkyExress, Smart Wings, Sun Express, Sverigeflyg, Thomson Airways...
Engine Lease Finance Corporation, President and CEO, Jon Sharp, has suggested that oil prices will be the final driver of whether Airbus and Boeing decide to launch re-engining programmes for their existing narrowbody platforms.
Boeing’s release of its 20-year Current Market Outlook has been overshadowed by a caution from the manufacturer that the delivery of initial B787s to launch customer All Nippon Airways could could slip into early 2011, rather than late 4Q2010. The company told the BBC that deliveries "could flip into...
Air Lease Corporation (ALC), a new aircraft leasing company being launched by ILFC founder for former CEO, Steven Udvar-Hazy, and John Plueger, announced it has secured initial financing of USD3.3 billion, and aircraft acquisitions are already under way.
India’s airlines handled over 4.5 million passengers last month – a 21.9% increase year-on-year. Indian aviation, which entered negative territory earlier than others in Asia and the rest of the world, has also recovered more quickly. Volumes are now some 30% over mid-2008 levels and 26% above mid...
Turkish Airlines (THY) is being encouraged to launch services between Istanbul and Lusaka, the capital of Zambia. It is not the first time that the airline has been linked to new African services but on this occasion comes the admission there is a wider agenda involving trade and specifically mining...
Singapore Airlines (SIA) is a shrinking force, the price of regained profitability. SIA flew almost 13% fewer seat kilometers in Jun-2010 than it did in Jun-2008, even though the airline did expand capacity by 1.8% year-on-year. Over the same two-year period, Cathay Pacific has contracted its capacity...
The world’s airlines are enjoying a solid recovery in business travel, according to the latest figures from IATA. Passengers travelling in premium classes rose by 18.7% year-on-year in May-2010, while passengers travelling on economy seats rose by 10.2%. The industry body noted: “Adjusted for seasonality...
Australian domestic fares continue to slide, as competition intensifies between Qantas/Jetstar, Virgin Blue and Tiger Airways and consumers grow more wary about the prospects for economic growth. Australia is also (again) in pre-election mode, which also dampens consumer sentiment.
KfW IPEX-Bank GmbH’s Michael Nosbuesch, Head of Aviation Financing and Thomas Brehler, Head of Port, Airport, Construction Industry/PPP Financing speak exclusively to CAPA on financing trends for the global airline and airport sectors. Mr Nosbuesch suggests that operating leases and sale and lease...
The much awaited GAO Report on ancillaries coincided with last week's House Transportation and Infrastructure Committee Aviation Subcommittee hearings. These were all about transparency, taxes along with populism, as it became open season on Spirit Airlines President and CEO Ben Baldanza, as Congress...
Since Aer Lingus reported a “positive start to the year” in its 1Q2010 results in Jun-2010, the Irish flag carrier’s shares have improved.
Indian airline traffic growth remained above 20% in Jun-2010, the fourth consecutive month that domestic airlines have reported growth in this range. Indian aviation, which entered negative territory earlier than other Asian nations and the rest of the world, has also recovered more quickly. Volumes...
Investors are preparing themselves for a flurry of earnings reports this week, with every major US carrier reporting, except for Southwest Airlines.
The US airline industry is expected to be profitable for the first time since 3Q2007 – to the tune of USD1.7 billion – giving airlines much to celebrate as they roll out their second-quarter results this week with double-digit operating margins expected for United, Delta, Alaska and Southwest. Also...
Shares in European airlines generally gained on Friday (16-Jul-2010), with LCC gains led by easyJet (shares up 1.7%) and Air Berlin (+1.7%). Shares moved higher after Goldman Sachs raised its estimates for the sector in a bullish review and upgraded its rating on easyJet.
Aviation continues to underperform in GE’s portfolio in 2010. While all other manufacturing segments at the conglomerate have reported either flat or improving revenue, aviation equipment revenue at GE dropped 8% in 2Q2010. Aviation services revenues were also down in the quarter, falling 5% to USD2...
Malaysia Airports Holdings Berhad confirmed the appointment of UEMC-Bina Puri JV as the main contractor for the construction of Kuala Lumpur International Airport's (KLIA) new permanent LCCT, via a letter of award. The contract is worth USD309 million. The project is expected to take 20 months to complete...
Kenya Airways (shares flat) reportedly stated it "is not selling its stake" in Precision Air when the carrier conducts an IPO at the Dar es Salaam Securities Exchange later in 2010. The carrier is seeking to raise approximately USD28 million through the sale of 65% (or 55 million shares) of its authorised...
