IATA has called for coordinated efforts to deal with the challenges of growth in the Middle East and North Africa (MENA) region and noted that over the last decade, the carriers of the Middle East and North African region have grown from 5% of global traffic to 11%.
It was a good day for most global LCC stocks yesterday, as solid earnings reports and healthy outlooks prompted some heavy buying.
Icelandair will increase scheduled services by 17% in 2011. The carrier will fly to a record 31 cities with the increased capacity estimated to create 200 jobs directly related to Icelandair’s operations, in addition to related jobs in tourism. In peak season, Icelandair will offer 183 flights per...
After rolling out its corner-stone strategy throughout the rest of its domestic network, American rounded out its service expansions and terminal upgrades by announcing 10 new destinations for its Los Angeles hub, from 05-Apr-2011. American estimates that its expanded service will add approximately...
US carriers reported revenue growth of 19% in Sep-2010 marking the ninth consecutive month of revenue growth according to the Air Transport Association of America’s (ATA) sample group of carriers. This reflects improvements in the global economy that is driving spend on air travel. Passenger revenues...
Alaska Air (-0.3%) slipped despite the group reporting a 39.7% year-on-year improvement for 3Q2010, to USD122.4 million or USD3.21 per diluted share. Operating profit for the period also made a significant improvement, rising 35.4% to USD216.4 million. The result was on a 10.3% increase in revenue,...
European stocks JCDecaux (5.8%), Dufry (+4.3%) and Ferrovial led airports/supplier share higher on 21-Oct-2010, as wider European markets all gained after strong corporate earnings reports and strong economic growth expectations from Germany.
Shares in TUI Travel (-11.0%) slumped after the carrier’s audit for 12 months ended Sep-2009 found a further GBP88 million in irrecoverable balances that need to be written off, resulting in a total write down of GBP117 million. The issue was the result of faults in integrating computer systems.
Asian stock markets were mixed on Thursday. Japan's Nikkei Stock Average fell 0.1%, while Australia's S&P/ASX 200 rose 0.2%, South Korea's Kospi Composite fell 0.3% and India's Sensex rose 0.4% for the largest gain in a week. Hong Kong's Hang Seng Index lost 0.3%, Taiwan's main index fell 0.1% and the...
Until the 1990s, many long haul routes would combine destinations, either triangulating or retracing steps over two end points. Today, a combination of greater competition, aircraft technology and the use of codesharing is seeing that operation become a rarity.
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...
One very salient – and on this occasion, uncontroversial – message that emerged from the recent (and future) battle between the alliance legacy carriers on one side and Emirates and the other Gulf carriers on the other involved the impact of government policy on the industry. The differences were...
Mauritius stated tourist arrivals increased 8.7% year-on-year to 65,404 visitors in Sep-2010. Tourist arrivals in the nine months to Sep-2010 increased 6.2% year-on-year. Meanwhile, Air Mauritius shares rose by 1.4% on Friday (22-Oct-2010).
Shares in Japanese LCC Skymark Airlines (+8.55%) continued on their recent growth pattern and were among the strongest gainers on the Tokyo Stock Exchange on Friday (22-Oct-2010). Shares in AirTran (0.13%) remained relatively stable despite tripling its 3Q profit on record traffic.
Shares in German engine manufacturer MTU Aero Engines gained 2.9% in trading on Friday, while UK aerospace and automotive parts supplier GKN Aerospace gained 2.0%. GKN reported a 21% increase in revenue for the three months to 30-Sep-2010, while operating profit increased 92% to GBP100 million. The...
Air France-KLM (+1.5%) rose for a second consecutive day after Deutsche Bank AG upgraded its rating of the airline group’s shares from "hold" to "buy", stating its “trans-Atlantic JV with Delta is under-appreciated by the market”. The gain was despite a 0.3% decline in France’s CAC for the day...
Southwest Airlines (-1.1%) slipped on Friday (22-Oct-2010) despite Hudson Securities analyst Daniel McKenzie maintaining a "buy" rating and USD17 price target for the carrier during trading. The comments came after Southwest reported a net profit of USD205 million or USD0.27 per share for 3Q2010, compared...
African airlines are projected to return to profitability in 2010 for the first time since 2002, reflecting stronger economic activity and bolstered by what IATA describes as "a decade of cost-cutting, restructuring, and re-engineering." Many of Africa's 53 countries are experiencing rapid economic...
Beijing Capital International Airport is in talks to issue new shares through a subscription. No further information was disclosed. On the same day the airport’s shares rose by 14%.
Virgin Blue shares remained unchanged at AUD 45 cents on Friday. The carrier was downgraded from "outperform" to "neutral" by Macquarie Group Ltd stating it believes the market is overestimating a recovery in earnings this financial year. Market consensus is for the airline to report a profit before...
The Seattle Times is reporting today that Boeing, for the third time this year, is temporarily halting deliveries of large sections of the B787 to its Everett final assembly line due to delays to the horizontal tails from Italian partner, Alenia.
US Airways (+7.1%) made the biggest gain of the day on Monday (25-Oct-2010). According to SmarTrend, the carrier has returned 11.5% over the past two months.
Air Arabia (+0.5%) has taken delivery of the first of 44 A320s on order in Hamburg. Air Arabia, which has purchased the aircraft directly from Airbus, placed 34 of the orders in 2007 and 10 in 2008, making the LCC one of the region’s largest A320 operators. Air Arabia already operates a fleet of 23...
Japan’s Skymark Airlines continues to shine brightly among global LCCs, which had a mixed day’s trade overall. North American LCCs all ended the day in positive territory, with analysts and investors continuing to be upbeat about the US airline market as hopes for further central bank stimulus pushed...
Australian Infrastructure Fund (AIX) shares gained by 1.6% on Monday (25-Oct-2010). On the same day the airport operator reported a passenger traffic increase across its airports in Q1FY2010:
Fairly chortling with glee Southwest Chairman and CEO Gary Kelly summed up third quarter results saying: “Oh my, what a difference a year makes.” To say management was pleased with the third quarter profit of USD205 million is an understatement but it didn’t keep Kelly from repeating himself about...
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...
Shares in Asian carriers traded mostly higher on Monday with analysts believing stocks in the carriers will continue their rally boosted by increased passenger demand and strong quarterly earnings which have helped their shares post impressive gains in the year to date.
Delta blew the rest of its peers out of the water by producing nearly USD1 billion profit in the third quarter, illustrating just how big the airline is now that its merger with Northwest is well underway.
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...
