AerCap labeled 201 an outstanding year, with the carrier completing its milestone merger with Genesis Lease and ending the year with a profit of USD207.6 million. Shares in AerCap closed 0.6% lower in trading yesterday.
Shares in Europe were generally lower in trading yesterday, with Aer Lingus falling 6.1% after the carrier confirmed it will make an exceptional provision of EUR32.5 million in its financial statements to resolve a tax dispute with the Irish government.
Safran Group reported a net profit of EUR508 million for 2010, an increase of 29%, even though revenue was just 3% stronger in the year. The comapny expects 2011 will be another "promising and significant step" towards its objective of delivering double-digit operating margins by as early as 2012.
Shares in listed airlines in the Americas had another mixed day, although the sharp falls seen earlier in the week due to uncertainty over rising oil prices have eased. Brazilian carriers GOL and TAM both gained 4.2%, while United Continental shares were up 5.8%.
World Fuel Services Corporation reported an increase in revenue of 69.4% for 2010, and a net profit of USD146.9 million, up 25.4% from 2009. Shares in the company were up just 0.3% in trading yesterday.
Asia Pacific full service airlines started 2010 on a positive note, witnessing “firm” traffic growth for both passenger and cargo services in Jan-2011.
Despite the predicted downturn for those relying on 50-seat jets, especially with the acquisition of ExpressJet, SkyWest is still posting increases in operating revenues and net income for both the fourth quarter and 2010.
Celebrating its 10th anniversary on 15-Jan, GOL reported a 15.6% jump in net revenues to R$1,869.8m in the fourth quarter compared with 4Q2009 and a 4.5% increase on third quarter results. However, the company reported a 66.8% drop in net income to BRL132.2 million. It did not release full-year statistics...
Duty free shares generally lost ground yesterday, the exceptions being modest gains fro Hellenic Duty Free (+0.8%) and gategroup (1.4%).
Shares in Brazilian LCC GOL dropped 4.4% yesterday, on another day of share price drops for most LCCs. The carrier reported a 67% decline in net profit for the three months ended 31-Dec-2010, as fuel and labour costs increased.
gategroup announced it has completed an investigation into a fraud incident in the company, concluding it was an isolated case of theft by the managing director of Gate Gourmet Northern Europe. The executive has been dismissed. gategroup forensic accounting experts report the total amount of the fraud...
Shares in Indian infrastructure and airport companies GMR and GVK dropped sharply in trading on Thursday, continuing the downward run of the stocks this year. For the year to date GMR has given up 18%, while GVK shares have lost more than 38%.
AirAsia X CEO Azran Osman-Rani spoke exclusively to CAPA and revealed the carrier has had unreserved success on its Incheon-Tokyo route, which was launched in 2010. While the CEO remained tight-lipped about the status of the company's IPO and plans to launch a Sydney service, Mr Osman-Rani did confirm...
Shares in World Fuel Services Corp gained 8.6% in trading on Friday, following the company's strong final quarter results announced last week and merger and acquisition news. WFSC also announced last week that its wholly owned subsidiary, World Fuel Services, has signed a definitive agreement to acquire...
Kenya Airways announced plans to float additional shares to raise capital to finance its growth and expansion plans. CFC Stanbic Bank has been appointed as financial adviser, with the carrier in the process of securing services of other consultants. Shares in Kenya Airways dipped 0.6% in trading on...
AirAsia may reportedly raise as much as USD400 million from separate listings of its Indonesian and Thai units, the company expects to raise USD150 million to USD200 million in each offering, both of which will likely happen in 4Q2011. The carrier is seeking funding to order new aircraft, possibly including...
International Airlines Group (IAG), the company created out of the merger of British Airways and Iberia Airlines, reported its first ever consolidated financial highlights for the two airlines. The group earned net profit of EUR90 million for the three months to the end of Dec-2010, on revenue of EUR3...
AerCap posted full-year 2010 net income of USD207.6 million, compared with USD165.2 million for 2009, resulting from its acquisition of Genesis Lease Limited. The margin earned on lease assets (net spread) was USD665.8 million for the year, up 43% on 2009.
After sinking through last week, shares in Republic Airways recovered 3.6% in trading on Friday, leading a better day for US airline stocks as oil prices stabilised and most global indexes regained ground. Mid-week, the carrier reported a 4Q2010 net loss of USD1.3 million and a 13.8 million net loss...
OECD announced a new aircraft sector understanding (ASU) was been signed on 25-Feb-2011 between five signatory governments: Brazil, Canada, the European Union (including France, Germany, Italy and the UK), Japan and the US. The ASU updates rules on the use of state financing in support of commercial...
The current unrest spreading across the Arab world has profoundly affected the region’s airlines. Egyptair has just released its international schedule up until the beginning of the summer timetable at the end of March and the affect of the situation is immediately evident. There are substantial cutbacks...
Shares in airport stocks had a mixed day on Friday, as oil prices eased later in the week and most major exchanges finished stronger. Shanghai Airport reported a profit of USD199 million for 2010, while Aéroports de Paris recorded a EUR300 million profit. Mexican Airport operator OMA also recorded...
Shares in advertising and outdoor media operator JCDecaux gained 4.6% in trading on Friday. The company announced late last week that it plans to suspend use of rotating billboards, in favour of electronic media.
CAPA has released its industry outlook for 2011 as part of a special edition of Airline Leader, the high-end monthly magazine for airline CEOs. According to the report, airlines will have to confront “a whole new scenario” as substantial structural shifts and an uneven and weak economic environment...
Airline shares recovered on Friday, as increases in oil prices stabilised. Oil prices were up more than 10% last week, with both the Brent and West Texas Intermediate indexes hitting highs not seen since late 2008. Shares in Indian carriers were generally higher, with reports that the Indian Finance...
Brazilian carrier TAM has reported a USD90.6 million profit for 2010 and announced orders for 34 new aircraft. The carrier has signed an MoU for 32 A320 aircraft, comprising 22 A320neo and 10 A320-family aircraft. The order makes TAM the launch customer for the A320neo in Latin America. It has also...
Thai Airways and Tiger Airways signed an initial shareholders agreement, necessary to establish a new JV LCC, Thai Tiger Airways. THAI plans to invest USD3.3 million for a 49.9% stake in the LCC, although the investment is still pending regulatory approval.
Aer Lingus has reported its first profit since 2008 but has cautioned that its 2011 profitability could be significantly lower, due to high fuel prices and increased airport charges. The carrier's fourth quarter results were hit by a EUR32.5 million tax settlement. Aer Lingus shares finished trading...
The unrest spreading across the Arab world has profoundly affected the region’s airlines. Egyptair has just released its international schedule up until the beginning of summer at the end of March and the impact of the situation is immediately evident.
India's new federal budget is likely to help companies developing airports in India, with the government raising the limit for foreign institutional investors to invest in corporate bonds specifically targetted for infrastructure from USD5 billion to USD25 billion.
