Private Jets Charter News

United and Continental agree to stock swap deal; media speculates possible Alaska Air takeover

North and South American carriers’ stock fell on a significant rise in oil prices and a dip in the wider market on Friday (30-Apr-2010). The Dow (-1.4%) declined on concerns as to how the criminal investigation into Goldman Sachs will affect other banks.

Wataniya Airways planning services to India; 1time gains; Royal Jordanian falls

Kuwait National Airways (+2.0%) was the only Middle East carrier to gain on Friday (30-Apr-2010) on news, Wataniya Airways, is reportedly considering plans to launch operations to India. Further details were not disclosed.

China Eastern seeking fresh government injection

China Eastern reiterated it is seeking a fresh government injection and “other means to raise capital” but added it has no plans at present to invite strategic investors. The carrier needs further funding to support its burgeoning capital investment plans (USD1.68 billion in 2010, up 53% on 2009...

Aer Lingus states market conditions “remain difficult”; BA close to industrial action again

The majority of European carriers’ shares were down on Friday (30-Apr-2010), after wider markets fell on news of an analyst downgrade of Goldman Sachs and disappointing 1Q2010 results from Barclays Capital. A drop in mining sector shares also pushed markets lower.

Air China doubles first quarter net profit on traffic rebound

Air China stated its first-quarter net profit more than doubled in the three months ended Mar-2010, as domestic air travel demand rebounded strongly with the recovering economy. Air China Chairman, Kong Dong, commented that the carrier was pleased to deliver “healthy” results to start 2010. The...

Hainan Airlines first quarter profitability soars

Hainan Airlines reported a notable 693% year-on-year increase in net profitability in 1Q2010 to USD37 million, with a net profit margin of 5.4% in the quarter - its best in five quarters.

More A380 delays plague Airbus – Suppliers Share Wrap

Airbus has pushed back the delivery of Malaysia Airlines' first A380, in another sign that the European manufacturer is struggling to get its big jet to airlines, even after more than three years of production.

MAp traffic growth firmly re-established: CEO

Shares in MAp gained 1.0% on Friday, upon the release of its financial report for the three months ended 31-Mar-2010. Revenue from airport investments rose 8.7% year-on-year to AUD273 million (USD252.5 million), while operating expenses rose just 0.3% to AUD81.1 million (USD75.0 million).

Virgin Blue-Air NZ strike alliance deal; ANA sees profits, More funds for Chinese airlines

Air New Zealand and Virgin Blue Airlines Group have announced their intention to seek regulatory approval to establish a trans-Tasman alliance, covering future route and product planning, codesharing and frequent flyer programme links. Regulatory approvals are expected to take up to six months.

Asia Pacific airlines poised to spearhead the recovery in the aviation industry: AAPA

Asia Pacific airlines are “poised to spearhead the recovery in the aviation industry” according to the Association of Asia Pacific Airlines (AAPA), which added that it expects further improvement in financial performance in 2010, following two consecutive years of heavy losses.

ANA enters earnings sweet spot after tough 2009

All Nippon Airways (ANA) is in reasonable shape to capitalise on an opportunity donated to it by Japan Airlines’ severe post-bankruptcy cutbacks. Market share, trained JAL staff and profits should flow to ANA as the embattled flag carrier wades through its restructuring plan and the economic recovery...

SpiceJet rises on Bravia buy-in speculation

SpiceJet’s shares surged 5.7% on Friday following reports the previous day that US investment fund, Bravia Capital Partners, has proposed to invest USD40 million in India's second largest LCC.

Air New Zealand-Virgin Blue announce trans-Tasman alliance

As foreshadowed last week, Air New Zealand and Virgin Blue Airlines Group have announced their intention to seek regulatory approval to create an alliance on the trans-Tasman markets linking Australia and New Zealand. The proposed alliance aims to allow the airlines to “strengthen their competitive...

United-Continental’s USD3 billion deal to yield USD1.2 billion in value - conservatively

Although stories over the weekend cautioned that a deal between United and Continental could fall apart just as it did two years ago, it was to no one’s surprise that the two airlines announced their plans to merge in a USD3.1 billion, all-stock deal, based on Friday’s stock prices, that will ultimately...

Air Arabia's Alexandria hub launch deferred again

Another of Air Arabia’s JVs has been forced to defer its launch of operations. Air Arabia CEO, Adel Ali, confirmed in mid-Apr-2010 that Air Arabia Egypt, its new Alexandria-based unit, will not launch until at least May-2010, as it is still waiting for its operating certificate from the Egyptian government...

Southwest, AirTran, JetBlue and Allegiant higher despite United-Continental merger

US LCC stocks all rose yesterday suggesting investors are not too concerned about the implications for the sector of another union of legacy carriers. If higher fares and fewer seats flow from the United-Continental merger (which they should if it is to be a success), this could play into the hands...

United-Continental: is bigger better, or does it just take longer to burn?

Much of the current analysis of recent mergers focuses almost entirely on their domestic implications. But increasingly this becomes a domestic/international equation. That’s what has changed over the past decade, as new entrant and low cost airlines have plundered the US domestic market. The strategic...

Royal Jordanian aiming for 21% rise in revenue for 2010; Kenya Airways gains; Jazeera Airways down

Royal Jordanian reported a 17% year-on-year decline in profits in 1Q2010, to USD9.6 million, due to higher fuel prices. Fuel costs rose 15% for the period, with an average price of USD80 per barrel.

SAS rights issue oversubscribed; Finnair and Air France gain; Aeroflot to shed old image

A number of European markets were closed on Monday (03-May-2010) for the Labour Day public holiday. Of those that did trade, the majority of carriers were down at the end of the session.

UBS: Airlines have over ordered – Suppliers Share Wrap

The ordering boom of 2005-2008 saw airlines order more close to 8,200 aircraft, an aircraft spending spree that has never been equalled in the history of the industry.

Changi mulls acquisition of 5% stake in Gemina SpA

Shares in Gemina SpA rose 1.0% yesterday, with reports Changi Airports International is increasing its investment in the Italian airport operator. Changi stated its USD100 million purchase of a 5% stake in the company will allow it to play a key role in the expansion of Rome’s airports, as traffic...

Middle East airports report frenetic traffic growth in 1Q2010

1Q2010 traffic results at three major Middle East hubs – Dubai, Abu Dhabi and Bahrain international airports – were nothing short of spectacular. The airport operators are also confident this performance can continue in 2010, with new airlines and increased frequency confirmed for Summer 2010 (2Q2010...

Virgin Blue slides on weak domestic Australian outlook

Virgin Blue’s shares slumped 7.6% yesterday as it issued a profit warning in its Mar-2010 traffic report. News headlines focused on its trans-Tasman alliance with Air New Zealand yesterday, but Virgin Blue quietly mentioned that profit before tax and exceptional items for the current financial year...

Regulatory, Houston, labour, slots issues complicate United-Continental deal. AA likes it

The Delta-Northwest merger set the bar on how mergers should go - not only in gaining labour support, but in smoothly transitioning from two carriers to one. The United-Continental merger however has marked differences from the DL-NW ideal, including the fact that Delta’s fastest merger on record...

Republic Airways reports net loss; Delta and US Airways told to divest slots for slow swap approval

North and South American shares slid on Tuesday (04-May-2010) as world markets slumped on concerns a EUR110 million bailout for Greece will not be effective in helping the country out of its sovereign debt issues. The Dow (-2.0%) suffered its worst decline in three months as a result.

United-Continental merger; higher fares and reduced service?

“…The combination could lead to reduced service and increased prices for travelers" - Washington Post Merriam-Webster defines hyperbole as an “extravagant exaggeration”. Using the word to describe some of the press coverage of the newly-announced United/Continental merger might itself be...

Delta-US Airways slot swap approved, but FAA calls for blind sale

The Delta-US Airways slot swap was once again approved by the Department of Transportation which, this time, rejected the deals the two carriers made with low-cost carriers to divide the 34 slots the Federal Aviation Administration wanted them to shed, calling, instead for a blind auction. Southwest...

Pinnacle Airlines posts profit despite winter storms and Delta penalty

Pinnacle Airlines Corp yesterday reported first quarter net income of USD1.7 million, down USD1 million from the year-ago period, due to the February storms. The storms impacted the financial and operating performance of its subsidiaries, Pinnacle Airlines and Colgan Air, and resulted in the assessment...

Aer Lingus expecting improved 2Q2010 results; Lufthansa losses widen

European shares plummeted on Tuesday (04-May-2010), with airlines sold-off. Markets were down on concerns the proposed EUR110 billion bailout package for Greece may not be effective and the crisis could spread to other European countries, such as Ireland, Italy, Portugal and Spain.

US airline shares affected by European debt-concerns; WestJet reports larger-than-expected profit

Shares in US airlines reported their largest one-day reduction in three months yesterday as the broader S&P 500 index slumped 2.4%. According to Morningstar, the reduction represents "a continuation of the flight to safety, as people are scared a credit contagion could spread from Greece to other debt...