While the curiosity may be high as new charter services are now allowed between eight US airports and Cuba, it is unlikely that the liberalisation of 50-year-old travel restrictions will release a flood of traffic, according to Boyd Group International President Mike Boyd, whose organisation just issued...
With jet fuel prices outpacing crude oil increases, airlines are facing a USD54 billion fuel bill this year, according to US Air Transport Association Chief Economist John Heimlich, who noted US Gulf Coast jet fuel sold for USD3.20 per gallon on 4-Mar-2011.
France’s JCDecaux reported revenue rose 22.5% in 2010, with turnover from its transport segment more than doubling, albeit of a relatively small base. Net profit was EUR169.3 million for the year, compared with EUR34.5 million in 2009. Jean-Charles Decaux, Chairman and CEO stated the company's positive...
Italy’s Aeroporti di Roma Group, which operates airports in Rome, reported a net profit of EUR22.3 million for 2010, up more than 300% from 2009. Revenue climbed 6.7% to EUR600 million, with stronger growth in the retail segment. Passenger numbers were 5.9% higher in 2010. Shares in Gemina, the Italy...
Shares in Menzies continued to climb on Wednesday, up 3.4%, following the strong financial results and positive outlook reported by the newspaper distribution and airport ground handling company. Earnings from the company's aviation unit are expected to nearly match those of its distribution business...
After two years when global respondents to Ascend’s annual business travel survey reported cuts in air travel and corporate budgets, the latest survey indicates significantly better prospects for airlines in 2011.
Cathay Pacific shares jumped 4.5% yesterday, with the carrier reporting better-than-expected results. Revenue increased 34% year-on-year to USD11.5 billion on a 9% increase in passenger numbers and a 20% increase in yield. Net profit tripled to USD1.8 billion.
There are more than 30 airlines around the world publicly talking of conducting an IPO to help diversify funding sources, coinciding with improved demand and economic conditions. Aircraft deliveries are also accelerating, with more than 1400 aircraft scheduled for delivery this year alone, prompting...
The first part of this three-part report on airline market capitalisations described how Air China is valued more on the stock exchange than US carriers United-Continental, JetBlue, Hawaiian Air, AirTran, US Airways, American Airlines, Republic Airways and Skywest combined. In this final section, CAPA...
Shares in carriers based in the UK and Ireland were down yesterday, with Irish carrier Aer Lingus the hardest hit, losing 5.6%. The carrier reported that its industrial dispute with pilots earlier this year severely affected Feb-2011 traffic. easyJet, Dart Group and Thomas Cook Group were all down,...
Shares in Latin American carriers were generally lower in trading yesterday, with Brazilian LCC GOL down 3.7%, TAM giving up 2.5% and Copa Airlines 1.3% lower. GOL and TAM have reported that their bonds are trailing gains in Brazilian corporate debt on concern rising oil and personnel costs will have...
Aircastle reported a drop in revenue of 7.5% year-on-year and a 35.8% decrease in net profit in 2010. It was a "watershed" year, with demand for passenger and freight aircraft rising above pre-recession levels and growth rates returning to their long-term trajectory.
JetBlue Airways reported unit passenger revenue jumped 18% in Feb-2011 and has forecast a 14-16% improvement in unit revenue for the first quarter. The carrier's passenger traffic rose 10.5% last month, while passenger load factor rose 5.6 percentage points, to 80.1%. Shares in the carrier were up 4...
Aerospace shares ended trading on Thursday broadly lower, with parts and equipment manufacturers suffering heavily. Shares in JBT Corporation, which manufactures ground vehicles and provides food processing technology, fell 4.3%, while GKN Aerospace shares fell 4.1%. GKN recently announced an aerospace...
Air France-KLM, Alitalia and Delta Air Lines are reportedly in talks with Jet Airways over plans for the Indian carrier to join their trans-Atlantic JV according to reports in La Tribune. The carriers are reportedly in negotiations with Jet for its entry into the JV in 2012, ahead of its proposed integration...
Shares in online travel distributor and booking company Expedia could be used as a reference for the CDX North American Investment-Grade Index, a rolling index of 125 companies that refreshes every six months. Other companies likely to be listed include Berkshire Hathaway, Capital One Financial Corp...
Shares in most airport operators closed lower in Thursday, with Vienna Airport and Shanghai International Airport Co both dropping 2.5% and Ferroviual and MAp Aiports 2% lower. Gemina shares fell 1.6%, after jumping 5% on Wednesday. Gemina has interests in Italy’s Aeroporti di Roma Group.
Jet Airways is reportedly in discussions with SkyTeam alliance members Air France-KLM, Alitalia and Delta Air Lines over plans for the carrier to join their trans-Atlantic JV. The carriers are reportedly in negotiations with Jet Airways over its entry into their JV agreement in 2012, ahead of its proposed...
Cathay Pacific’s full year earnings surged 199% year-on-year in 2010 to HKD14.05 billion (USD1.8 billion). It was the carrier’s best-ever annual profit and exceeded its profit forecast of at least HKD12.5 billion (USD1.6 billion) for 2010. Cathay, following the financial release, also announced...
San Francisco-based Jackson Square Aviation officially launched operations in Mar-2010 after the former Pegasus management team, led by CEO Richard Wiley, founded the company and got up and running. Mr Wiley talks exclusively to CAPA about the smooth injection of their new brand into the sector, the...
As political and industry debate over public sector unions rages in the US, the AEA, IACA and Ryanair have hit out at Spain's public sector unions' plans to strike this summer. Spain's airport workers have threatened to go on strike over the planned privatisation of national airports operator AENA.
Turkish Airlines' inauguration of non-stop service between Istanbul and Los Angeles has kicked off the next round of an aggressive long-haul expansion for the carrier.
The Nikkei Stock Average plunged 5.2% at the opening bell on Monday and fell as much as 6.3% in the first session since the 9.0 magnitude earthquake and tsunami on Friday. There are concerns rolling power failures could affect the Japanese economy. Stock markets around the Asia Pacific have traded sharply...
Aircastle shares continued to decline after the company reported a 35.8% decrease in net profit in 2010 late last week. Shares in the aircraft leasing company were down 2.2% but are up nearly 12% for the year to date.
American Airlines announced it will give up its attempt to raise ticket prices USD10 per round-trip, after other US carriers declined to match the increase. Carriers have raised prices several times in 2011, citing the need to cover the rising price of fuel. Shares in US carriers were generally higher...
An official at the Chinese Aviation Industry Technology Committee has forecast that revenue from the Chinese aerospace industry would exceed combined revenue from Boeing and EADS by 2020. Over the past decade, aerospace industry revenue in China has increased at an average of 37% p/a, thanks to continued...
Vueling Airlines reported an 8% fall in Feb-2011 traffic on Friday, with passenger numbers falling by more than 50,000 to 630,000. Average load factors dropped 3 percentage points, to 68.5%. The carrier cut aircraft movements to 3.4%, but added a new aircraft to its fleet compared with 2009, taking...
European airline shares fell on Friday, led by SAS Group which declined 4.7%. One of the few exceptions was Turkish Airlines, which is now lining up the acquisition of Serbia's JAT Airlines. Turkish Airlines shares were up 2%.
The "Fair Tax on Flying" alliance is the latest in a long list of organisations to call on the UK Chancellor of the Exchequer to follow the lead of other European governments in abandoning taxes on airline passengers. Meanwhile, a group of senior Conservative politicians and business leaders wrote to...
Shares in Menzies ended Friday 3.1% higher and closed the week up 16.4%, following the company's solid full-year earnings result. Revenue climbed only marginally but profit rose from GBP15.3 million in 2009 to GBP28.1 million.
