Excess supply due at the end of the Oct-2010 oil contract has seen oil prices dive more than USD5 per barrel over the past week. Global crude oil inventories continue to be significantly above historical averages, even as refinery capacity continues to decline.
Auckland International Airport (0%) shares remained stable on Thursday (23-Sep-2010), the same day the airport announced its passenger traffic rose by 3.8%. Traffic highlights in Aug-2010:
The new Swedish Aviation Act has cleared the way for deregulation of air traffic navigation services in Sweden. The new act came into effect on 01-Sep-2010 and opens control tower and approach services at 38 airports to competition. Critically though, it does not affect the provision of en-route services...
Private-equity firm, The Carlyle Group, announced in early Sep-2010 that it has suspended plans to sell ARINC. Goldman Sachs had been retained to advise on the sale, but the company has been pulled off the market after six months without finding a buyer.
EUROCONTROL’s latest medium-term forecast reveals a slow but steady recovery in overall European flight numbers. This year's flights are expected to increase by 1.6%, double earlier forecasts, with stronger growth forecast for 2011. However, the European economic and air traffic recoveries are far...
Kingfisher Airlines’ shares soared 7.0% on Thursday, as Chairman Vijay Mallya denied reports the carrier has any “overdues” to oil marketing companies for the supply of air turbine fuel (ATF) by stating Kingfisher has “given them (oil marketing companies) a lot of money... We do not have any...
African airlines are projected to return to profitability in 2010 for the first time since 2002 in response to the renewed economic activity and bolstered by what IATA describes as "a decade of cost-cutting, restructuring, and re-engineering." Reflecting these developments, projections for African airline...
Lufthansa’s shares rose a further 3.3% on Friday taking the month’s gain to close to 10% as the airline announced leadership succession and fleet modernisation plans.
US airline stocks rallied on Friday as US stocks surged. The Dow Jones Industrial Average jumped 197.84 points (1.86%) to 10,860, while the S&P 500 index rose 23.84 points (2.12%) to 1,148.67.
Royal Jordanian – a oneworld alliance member – and Malaysia Airlines (not aligned) have announced the signing of a unilateral free sale codeshare agreement on Amman-Kuala Lumpur services operated by RJ.
B787 and A380 passenger door supplier, Latecoere, has held discussions with "more than one" potentially interested party, according to the company’s new Chairman, Pierre Gadonneix.
Malaysia Airports Holdings Berhad (MAHB) reported a 13.3% increase in passenger numbers to 3.03 million at Kuala Lumpur International Airport (KLIA) in Jul-2010, although the increase was solely due to rising demand for international air travel. Domestic passenger numbers at KLIA dropped 1.2% to 898...
Virgin Blue is today recovering from a major technical fault that left thousands of passengers delayed or stranded on Sunday. Flights were cancelled as the Navitaire New Skies system experienced a hardware failure, forcing the airline to switch to a manual system.
Air New Zealand CEO Rob Fyfe took the opportunity at Friday’s annual shareholders meeting in Auckland to blast the Australian Competition and Consumer Commission (ACCC) for its draft decision to deny the airline’s trans-Tasman alliance proposal with Virgin Blue. He noted that the alliance with Virgin...
CAPA is the leading global aviation knowledge practice, delivering market analysis and data to support strategic decision making at hundreds of the most recognised organisations in the industry. Established for 20 years, CAPA has developed an unrivalled reputation for independence, insight and integrity...
Russia’s state-owned United Aircraft Corporation (UAC) has announced more than USD500 million in investments on aircraft production this month, focusing on the new An-148 regional jet and the under development MS-21 narrowbody.
Comair joint CEO, Erik Venter, stated the carrier, which had already ordered eight new B737s to replace older aircraft in its fleet, plans to increase the number of B737s in its fleet to 23 over the next few years.
North and South American airline stocks boomed after Southwest Airlines announced plans to acquire AirTran. The gains were despite a decline in the Dow (-0.4%), pushed lower by the financial sector on concerns over a Moody's Investors Service downgrade of an Irish bank’s debt.
As most were speculating about the consolidation of the mainline industry in the US late last year and earlier this year, some were saying it was the low-cost carrier sector in need of consolidation.
The four major investments made by WestJet during 2009 – new reservations systems for both its scheduled and non-scheduled businesses, a loyalty programme with credit card and partnerships with international carriers – have positioned the airline to support the planned 4-7% capacity growth expected...
Shares in AirTran soared 61.3% to close at and Southwest shares gained 8.7% following the announcement of Southwest’s USD1.4 billion acquisition of AirTran Airways. Southwest shares set a new 52-day intra-day trading high yesterday, with AirTran stock also setting a new 52-week high.
European airline shares were mixed on Monday (27-Sep-2010) despite a decline in the wider market. Markets were down after Moody's Investor Service downgraded state-owned Anglo Irish Bank’s debt, overshadowing the announcement that the Euro area's Leading Economic Index (LEI) increased 0.4% in Aug-...
China’s Beijing Airport (+1.2%) reported a 7.6% year-on-year increase in passenger numbers to 748,488, on the back of a 3.2% increase in aircraft movements to 5,523, during the three-day Mid-Autumn Festival travel period, from 21-Sep-2010 to 24-Sep-2010.
Delta Air Lines is not only the world’s biggest airline but, according to US Department of Transportation statistics, it holds a few more top spots as well.
IATA, in its Financial Forecast for Sep-2010, commented that while India has “had some major problems”, the nation’s airlines are “now also starting to make some money”, with traffic growth in the Asia Pacific region being boosted by a resurgence in domestic traffic in the Indian market.
Shares in China Southern gained strongly yesterday, up 5.8% in Hong Kong trading. The carrier’s share price rose the highest since May-2010 in Shanghai trading, after Kenneth Fisher, the Chairman of Fisher Investments Inc, recommended the stock, stating the airline is a stock that investors can retain...
CAPA is the leading global aviation knowledge practice, delivering market analysis and data to support strategic decision making at hundreds of the most recognised organisations in the industry. Established for 20 years, CAPA has developed an unrivalled reputation for independence, insight and integrity...
Pratt & Whitney has hit back at Rolls-Royce patent suit against it, filing a lawsuit against the UK-based engine manufacturer. The US company, a unit of United Technologies Corp, has filed a suit in a US Federal Court in Connecticut claiming that Rolls-Royce has misled the US Patent and Trademark Office...
European airline shares were mixed again on Tuesday (28-Sep-2010) echoing a day of mixed trading in wider markets. European markets ended the session slightly lower on concerns Moody's Investors Service will cut its Spanish debt rating.
North and South American airline shares rose on Tuesday (28-Sep-2010), moving with wider markets. The Dow (+0.4%) was up after investors saw poor home prices and consumer confidence data as a sign that the Federal Reserve may introduce new stimulus.
