Airline Finance News - Asia / Pacific.Aug 6, 2007 British Airways British Airways in full British Airways PLC International passenger airline based in London. In 1936 British Airways Ltd. was founded through the merger of three smaller airlines. , Korean Air  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . British Airways and Korean Air plea agreements are the first from a continuing, wide-ranging investigation into the air transport industry by the Justice Department's antitrust division. Both British Airways and Korean Air have agreed to cooperate with the investigation, Justice Department officials told a news conference. The conspiracies were described as among the largest and most far-reaching ever investigated. "In every instance American businesses and consumers ended up paying more because of these crimes," Acting Associate Attorney General William Mercer said. Aug 2, 2007 Cathay Pacific Cathay Pacific Airways Limited (HKSE: 0293 ) is an airline based in Hong Kong, operating scheduled passenger and cargo services to over 104 destinations worldwide. It is the flag carrier of Hong Kong with its main base at the Hong Kong International Airport. [1]. Airways Cathay Pacific has opened a new office in Beijing, featuring separate counters for both Cathay Pacific and Dragonair. Cathay Pacific Chief Executive and Dragonair Chairman Tony Tyler commented on the opening, "Beijing is a market of immense importance to us, and so our office here not only serves this key destination of the two airlines but also plays a vital role in implementing our overall business strategy and marketing and sales functions across the Mainland." Patrick Yeung was recently appointed as General Manager, China to lead the Mainland China team with some 650 staff in the 19 ports to which the two airlines fly. Aug 1, 2007 China Eastern Airlines China Eastern Airlines Corporation Limited (Simplified Chinese: 中国东方航空股份有限公司) (SSE: B>600115 China Eastern Airlines created a Beijing Branch Company in order to establish itself further in the capital, where its passenger traffic has increased 15% over the past two years but its market share is just 11%. The Shanghai-based carrier noted that Beijing offers greater opportunities due to its location and next summer's Olympic Games. "We can take advantage of our Beijing Branch Company to expand our network in the Beijing-centered northern region," MD Cao Jianxiong said. Jul 30, 2007 China Eastern Airlines China Eastern Airlines is becoming an attractive option for Chinese airlines based outside the capital. Guangzhou-based China Southern Airlines China Southern Airlines (中国南方航空公司) (SEHK: 1055, NYSE: ZNH) is an airline based in Guangzhou in the Guangdong province of the People's Republic of China. set up a Beijing Branch Company in late 2005 in order to extend its international network. Hainan Airlines parent HNA HNA Hereditary Neuralgic Amyotrophy HNA Hawaii Nurses Association HNA High North Alliance HNA Morioka, Japan - Hanamaki (Airport Code) HNA Hospice Nurses Association (now Hospice and Palliative Nurses Association) Group will base its Grand China Air in Beijing, and Air China is attempting to hold off the competition with a CNY CNY In currencies, this is the abbreviation for the China Renminbi. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 2.27 billion ($299.6 million) investment in an expansion of its Beijing operation this year. Jul 30, 2007 China Eastern Airlines China Eastern Airlines President Li Fenghua revealed that the relevant government bodies are supportive of its 25% stake sale to Singapore Airlines and that approval should come very soon. Jul 30, 2007 East Star Airlines East Star Airlines, which is profitable, has presented its listing plan to six international investment banks, including JP Morgan and Merrill Lynch, and five additional foreign banks. However, Banque de L'IndoChine Banque de l'Indochine was a note-issuing bank established in Paris on January 21, 1875, for the territories of France in Asia. Up to World War II, the bank experienced three phases of development. graded East Star as a "third class" carrier, behind "first class" Air China, China Southern Airlines and China Eastern Airlines and "second class" carriers like Shanghai Airlines, Shenzhen Airlines and Sichuan Airlines. It said it would consider an approximately $100 million investment if and when ESA 1. (architecture) ESA - Enterprise Systems Architecture. 2. (body) ESA - European Space Agency. is upgraded to "second class." Aug 1, 2007 Finnair, Jet Airways, Kingfisher Airlines, Indian Finland's flag carrier Finnair, which operates two flights to two Indian gateways from Helsinki, is working on a frequent flyer frequent flyer Hospital practice A popular term for a Pt who is regularly admitted to a particular ER or health care facility, for various reasons partnership with an Indian carrier as a precursor to a code share agreement. Finnair already has interline in·ter·line 1 tr.v. in·ter·lined, in·ter·lin·ing, in·ter·lines To insert between printed or written lines. in agreements with the likes of Jet Airways, Kingfisher Airlines and Indian, under which airline partners accept each other's travel tickets. Jul 30, 2007 Jetstar Airways Qantas finalized the first of three investment installments in Vietnam's Pacific Airlines, taking an 18% stake. The entire investment for 30% will be concluded over the next two years. Jetstar Airways CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Alan Joyce and CFO See Chief Financial Officer. David Hall will represent Qantas Group on Pacific's six-member board, while QF and Jetstar executives will fill a number of key management roles to support the investment. Pacific eventually plans to fly internationally. Aug 1, 2007 Junyao Airlines Junyao Airlines CEO Huang Hui revealed the carrier hopes to list by next summer's Olympic Games in Beijing and is working on an initial private placement scheduled to be concluded by year end. Aug 1, 2007 Korean Air Korean Air and smaller rival Asiana Airlines have managed to pass on the costs to customers through fare increases, something their European and US rivals have found hard to do, with South Korean low-cost carriers only flying unprofitable domestic routes. Aug 2, 2007 Korean Air Korean Air Posts Surprise Q2 Loss. Korean Air posted a surprise quarterly net loss on Thursday after it booked USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $300 million in fines for conspiring to fix flight prices, and faces earnings uncertainty over follow-up civil action, analysts say. The US Justice Department on Wednesday said that British Airways and Korean Air agreed to plead guilty and pay separate USD$300 million criminal fines for their roles in conspiracies to fix the prices of passenger and cargo flights. Aug 2, 2007 Korean Air Korean Air said its operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. rose 9 percent to KRW KRW In currencies, this is the abbreviation for the Korean Won. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 75.4 billion won as international passenger traffic grew 10 percent and jet fuel costs dropped about 6 percent, but the rise also fell short of expectations. But oil prices, Korean Air's single biggest cost item which account for 30 percent of Korean Air's operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. , are trending up again after retreating from 2006 records, while competition from cheaper Chinese airlines also remain a worry. Helping cut fuel costs was a stronger won, which rose 2.7 percent against the dollar in the second quarter from a year ago. Aug 2, 2007 Korean Air Korean Air, the world's top air cargo carrier, swung to a KRW214.4 billion won (USD$231.8 million) net loss in the second quarter ended June 30, from a KRW14.9 billion profit a year earlier. Despite the poor second-quarter results, analysts expect smoother going for Korean Air at the operating level in the second half. The won is expected to keep rising against the dollar, helping cut the cost of importing fuel and servicing dollar-denominated debt. Aug 2, 2007 Korean Air The Korean Air conspiracy to fix the prices of passenger and cargo flights lasted between January 2000 and July 2006 while the one involving British Airways took place between March 2002 and February 2006, the officials said. They said passengers who flew on British Airways flights between the United Kingdom and the United States paid more for their tickets as a result of the illegal cartel. In 2004, British Airways' fuel surcharge for round-trip passenger tickets was around USD$10 per ticket. By the time the conspiracy ended in 2006, the surcharge was nearly USD$110 per ticket, the US officials said. The officials left open the possibility that individual executives and other airlines could be charged later as the investigation continues. Aug 2, 2007 Pacific Airlines, Qantas Airways In April the State Capital Investment Corp (SCIC SCIC Significant Change in Condition (healthcare) SCIC Service Commun Interprétation-Conférences (Joint Interpreting and Conference Service) SCIC Society of Certified Insurance Counselors ), which held a 92 percent stake in the Ho Chi Minh Ho Chi Minh (hô chē mĭn), 1890–1969, Vietnamese nationalist leader, president of North Vietnam (1954–69), and one of the most influential political leaders of the 20th cent. His given name was Nguyen That Thanh. City-based Pacific Airlines, sold 30 percent to Qantas. Qantas has said the investment would support plans by its low-cost subsidiary Jetstar to expand services in Southeast Asia. Two Jetstar executives representing Qantas now sit on Pacific Airlines' Management Board that started operation on Tuesday. Aug 3, 2007 Philippine Airlines Philippine Airlines signed an MOU (Minutes Of Usage) A metric used to compute billing and/or statistics for telephone calls or other network use. with authorities in Chongqing paving the way for future service. It already serves Beijing, Shanghai and Xiamen on the Chinese mainland. Aug 3, 2007 Qantas Airways Qantas Airways has rejected allegations by the Australian Licensed Aircraft Engineers Association (ALAEA ALAEA Australian Licenced Aircraft Engineers Association ) that overseas maintenance of some of its aircraft was compromising safety. The Executive General Manager of Qantas Engineering, Mr David Cox, said the wiring issues identified on two of its aircraft, which had been used by the ALAEA to make this case, did not compromise the safety of the aircraft in any way. Aug 2, 2007 Qantas Airways Qantas takes on Tiger by flying Jetstar to Singapore. Qantas Airways has moved to counter the twin-Singaporean attack on its domestic and international network by switching its low-cost offshoot Jetstar on to a key route between Cairns Cairns, city (1991 pop. 64,463), Queensland, NE Australia, on Trinity Bay. It is a principal sugar port of Australia; lumber and other agricultural products are also exported. The city's proximity to the Great Barrier Reef has made it a tourist center. , Darwin and Singapore in an effort to hinder the launch of Tiger Airways. Jetstar will take over the route from its ailing sister carrier, Jetstar Asia, on February 1, just two months after Tiger, which is 49 per cent-owned by Singapore Airlines, launches its first Australian domestic service between Melbourne and Darwin. The no-frills Tiger service will also offer on-flights to Singapore out of Darwin, giving it an opportunity to snare snare (snar) a wire loop for removing polyps and tumors by encircling them at the base and closing the loop. snare n. international travellers looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. cheap deals into Australia through the biggest aviation hub in the region. Aug 2, 2007 Qantas Airways Australia's Fairfax Media is reporting that Qantas is set to announce that it will split into four separate businesses focusing on airline operations, fleet ownership and lease, loyalty programs and freight. Aug 1, 2007 Qantas Airways Australia's biggest airline, Qantas Airways, has been considering options for a major restructure, an idea inherited from a private equity consortium which failed to secure a USD$9 billion takeover for the company in May. Qantas said in May it might "demerge De`merge´ v. t. 1. To plunge down into; to sink; to immerse. The water in which it was demerged. - Boyle. " its express freight joint venture and was reviewing ownership of its frequent flyer program. It also signaled increased capital returns with analysts predicting a share buyback of up to AUD AUD In currencies, this is the abbreviation for the Australian Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $2 billion. Jul 31, 2007 Qantas Airways Australian airline Qantas Airways may split itself into four operating businesses as it seeks ways to unlock value following a failed takeover, analysts said on Tuesday. Analysts from two major brokerages have told clients Qantas may create a new aircraft leasing unit and separate its frequent flyer program and freight assets from the main business. JP Morgan told clients the plan would add more than AUD$1.20 to the Qantas share price, while UBS UBS Union Bank of Switzerland UBS United Bible Societies UBS United Blood Services UBS United Buying Service UBS Used Bookstore UBS University Business Services UBS Universal Building Society (UK) UBS Ulaanbaatar Broadcasting System said it may add AUD$1.70. Jul 31, 2007 Qantas Airways The Qantas board considered a plan earlier this month to create a separate company to own its fleet of more than 200 planes, according to analysts. The airline is also seeking a new chairman after Margaret Jackson said she would step down amid heavy criticism of the way management handled the AUD$5.45-a-share bid by a group including Macquarie Bank and private equity firm TPG TPG Texas Pacific Group TPG Tapping TPG Transports Publics Genevois (Geneva, Switzerland public transportation) TPG Test Pattern Generator TPG TNT Post Group TPG Trésorier Payeur Général . Qantas Chief Executive Geoff Dixon is scheduled to speak at an industry lunch in Sydney on Wednesday. Jul 31, 2007 Singapore Airlines Analysts say Singapore Airlines, which focuses on business travelers, faces a static home market with the days of big traffic growth behind it and could benefit greatly from getting a foothold in China's commercial capital Shanghai as demand for air travel rises in Asia's second-largest economy. Majority-owned by state investment firm Temasek and valued at USD$16 billion, Singapore Airlines is the cheapest stock among leading Asian carriers, trading at nearly 14 times forecast earnings against multiples of 14.8 for Cathay and 15.4 for Qantas. Aug 1, 2007 Singapore Airlines Singapore Airlines reported a 26 percent fall in quarterly profit in the absence of one-off gains booked the previous year. Net profit at the state-controlled airline fell to SGD SGD In currencies, this is the abbreviation for the Singapore Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $424 million (USD$279 million) in the three months to the end of June, from SGD$575 million in the previous year when the result was helped by a one-off gain of SGD$223 million from the sale of property. Singapore Airlines warned investors in May that it faced limited capacity growth because of the delayed delivery delayed delivery Delivery of a certificate after the day on which delivery would occur with a regular-way contract. Delayed delivery is sometimes specified by the seller when the order to sell is entered. See also seller's option contract. of the Airbus A380 superjumbo, now due to arrive in October, high jet fuel prices and uncertainty over the US economy. Aug 1, 2007 Singapore Airlines Singapore Airlines's shares have risen around 9 percent so far this year, beating Cathay Pacific's 7 percent rise but lagging an 11 percent increase in shares in Qantas Airways. Singapore Airlines, the city-state's only global brand, is among the world's most profitable airlines thanks to its focus on cost and efficiency. In January, it said it would outsource some of its call centre operations in Australia and North America. The airline is in talks, which have dragged on for a year, to buy a stake in loss-making China Eastern Airlines, the smallest of China's three main carriers. Aug 1, 2007 ZZ Editorial eMail: edit@AirGuideOnline.com For Air Transport & Travel Business Experts contact our Director of Content Aram Gesar eMail: bizintel@AirGuideOnline.com For more global news, reviews, features and analysis, please subscribe to our Newsletters: http://www.airguideonline.com/order_formsubs.htm#news To Advertise: advert@AirGuideOnline.com AirGuideFlightTracker is a new service that keeps travelers informed on flight and airport status via the Web. For more go to http://www.airguideonline.com/airline_tracker.htm Copyright [c] 2007 Pyramid Media Group / Air Travel Media. All rights reserved. |
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