Airline Finance News - Europe.For more airline finance news, data and analysis, please go to: http://www.airguideonline.com/professional.htm Aug 7, 2006 European Regions Airline Assn. said member carrier flew 8.4% more RPKs in the March quarter against a 7.3% increase in capacity. Load factor was a first-quarter record 57.9%, up 0.9 point on the year-ago quarter. Aug 1, 2006 Bmi Bmi mainline and regional pilots represented by the British Airline Pilots' Assn. began voting yesterday on whether to authorize a strike action. Balloting at bmibaby started last week. The result of the former will be released on Aug. 24 and that of the latter on Aug. 16. The union said there are different issues facing pilots at each of the divisions but that they are united against the "imposition" of a 2.4% pay increase. Mainline pilots also are facing a required pension contribution increase to 18.5% from 10% "for exactly the same benefits." BALPA BALPA n abbr (= British Airline Pilots' Association) → sindicato de pilotos de líneas aéreas BALPA n abbr (= British Airline Pilots' Association) → syndicat des pilotes de ligne General Secretary Jim McAuslan said, "The heart of these disputes is the total lack of respect shown by the company toward its key people," adding that the fact there was no "meaningful consultation" with the pilots in the decisions was a "disgrace in this day and age." BALPA said more than 70% of bmi's approximately 700 pilots are members. Aug 4, 2006 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. British Airways reported a 20% increase in its first-quarter profits to June but warned of a tougher second half and higher-than-expected staff costs. In spite of pronouncements by rivals (largely one Irish rival) that the airline would suffer industrial problems during August it looks like the airline will get a clear run for the major holiday period, although it could have put off a few customers. Fuel costs have risen dramatically partly offset by passenger fuel surcharges. The 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. was [pounds sterling]211m (2005: [pounds sterling]176m profit) and cash flow [pounds sterling]475m, an increase of [pounds sterling]126m from last year. http://www.ba.com Aug 5, 2006 British Airways British Airways' operating profit for the three months to June 30 was GBP GBP In currencies, this is the abbreviation for the British Pound. 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. 211 million (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. $402 million) compared to GBP176 million (USD$335.2 million) a year ago, and revenue jumped 12.5 percent. BA said its load factor in the first quarter was up 2.7 points to a record 78.3 percent. The airline said costs excluding fuel would be slightly higher due to the impact of pension contributions on its rising wages bill. BA has previously tipped flat costs for the year. Fuel costs would be GBP550 million - GBP600 million (USD$1.05 billion - USD$1.14 million) higher as expected. British Airways and other airlines have partly offset record oil prices with passenger fuel surcharges. Walsh said the airline had no immediate plans to raise fuel surcharges despite rising oil prices. The airline has 65 percent of its fuel needs for the year hedged at USD$62. Aug 4, 2006 British Airways British Airways tipped full-year revenues to rise 6 to 7 percent, up from its previous guidance of 5 to 6 percent. A recovery in first and business class traffic, new routes to India and China and demand for trans-Atlantic flights have buoyed sales. BA plans to introduce a new business-class seat by the end of the year. The airline's passenger traffic rose 4.4 percent in July and its load factor was 82.3 percent in the month, up slightly from July last year. Aug 4, 2006 British Airways British Airways's Walsh declined to comment on a joint US-UK investigation into alleged cartel activity over airfares and fuel charges. BA put two senior executives on leave as a result of the inquiry. Aug 4, 2006 CSA (1) (Canadian Standards Association, Toronto, Ontario, www.csa.ca) A standards-defining organization founded in 1919. It is involved in many industries, including electronics, communications and information technology. Czech Airlines CSA Czech Airlines (in Czech: České aerolinie (abbreviation: ČSA)) is the Czech national airline company, and former national carrier of Czechoslovakia based at Ruzyně International Airport, Prague. CSA Czech Airlines flew 2.5 million passengers in the first six months of 2006, an increase of 6% over the year-ago period. The carrier credited increased service to Russia. Aug 2, 2006 Dniproavia Dniproavia of Ukraine said yesterday it has filed suit against the State Service for Aviation Security Supervision for creating "privileged conditions" for Lufthansa by failing to enforce the 1999 bilateral between Ukraine and Germany. It said German authorities prohibited it from operating Dnipropetrovsk-Frankfurt service in March based upon "deceptive allegations" from LH and Ukrainian aviation authorities did nothing to respond. Aug 2, 2006 Iberia Iberia flew 13.42 billion RPKs during the second quarter, up 12.4%, and 16.81 billion ASKs, up 6.1%. Load factor climbed 4.5 points to 79.8% and passenger revenues increased 16.7% to [euro]1.04 billion on a 3.8% rise in yield to 7.73 cents. Operating RASK grew 8.2% to 8.29 cents while unit costs were up 9.7% to 7.99 cents, or 1.4% to 6.19 cents excluding fuel. Aug 3, 2006 Iberia Iberia's econd-quarter turnover rose 19.2% to [euro]1.45 billion, which the airline attributed to "strong" yield increases and higher load factors on international flights, against a 21% increase in costs to [euro]1.4 billion driven by fuel and maintenance costs. Operating profit dropped 18.8% to [euro]48.9 million. IB said its 17.3% decline in EBIT EBIT See: Earnings Before Interest and Taxes EBIT See earnings before interest and taxes (EBIT). to [euro]49.3 million was due to the application of IAS See iPlanet Application Server. 1. (computer) IAS - The first modern computer. It had main registers, processing circuits, information paths within the central processing unit, and used Von Neumann's fetch-execute cycle. 39 international accounting standards and that the figure otherwise would have improved 40% to [euro]83.4 million. Fuel costs increased 62.2% to [euro]116 million, including [euro]10 million in hedging gains. Aug 3, 2006 Iberia Rising costs mean lower profits at Iberia. Revenues, traffic, yields and load factor all rose at Iberia in the second quarter but not as fast as costs, which outstripped the carrier's operational progress and reduced its three-month profit to [euro]35.7 million ($45.6 million), down 21.2% from earnings of [euro]45.3 million in the year-ago quarter.The first half ended with a [euro]9.2 million loss compared to a [euro]29.2 million profit in the first half of 2005. Aug 3, 2006 Iberia Iberia's efforts to return its Barcelona operations to normal following Friday's action by ground workers included the transfer of more than 100 employees from other airports, two additional aircraft and the placement of extra staff on all shifts until Wednesday, it said yesterday, adding that the airport "is now operating normally" although the carrier is still working on shipping baggage. "Iberia is to launch an internal probe to ascertain responsibility for the wildcat strike An employee work stoppage that is not authorized by the Labor Union to which the employees belong. When employees join a union, they give the union the right to collectively bargain with their employers concerning the terms and conditions of work. on Friday which took place with no advance warning, and led to the invasion of the landing field of Barcelona's airport, as well as damage to equipment," it said. Aug 1, 2006 Iberia Iberia canceled all flights to and from Barcelona International on Friday and Saturday morning after some 2,000 ground workers blocked one of the airport's three runways. The action reportedly was in protest of the airline's loss of a ground-handling license at BCN BCN Beacon BCN Blue Care Network BCN Biblioteca del Congreso Nacional (Chile) BCN Backbone Concentrator Node (routers, Nortel) BCN Banco Central de Nicaragua BCN Broadband Convergence Network . It still holds 21 of 27 licenses at the airport, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. AFX AFX atypical fibroxanthoma. News, but earlier last week AENA AENA Aeropuertos Españoles y Navegación Aérea AENA All England Netball Association AENA Amis des Epagneuls Nains Anglais (French: Friends of the Cavaliers and King Charles Spaniels) awarded a concession to a Spanish construction and services company and to subsidiaries of Spanair and Air Europa Air Europa Líneas Aéreas, S.A. is an airline based in Palma, Majorca, Spain. It operates inclusive tour services between northern and western Europe and holiday resorts in the Canary Islands and Balearic Islands. . IB suffered a three-day pilots strike earlier this month over its plans to launch a Barcelona based LCC (Leadless Chip Carrier, Leaded Chip Carrier) See leadless chip carrier, CLCC and PLCC. 1. LCC - Language for Conversational Computing. Written at CMU in the 1960's. . Jul 31, 2006 Lufthansa Lufthansa declines to combat rising foreign ownership. Lufthansa said yesterday that it has no plans to exercise its right to buy back shares as foreign control of the German flag carrier exceeded 40% for the first time. Under European law, a company would forfeit its operating license and rights to fly to destinations outside Europe if foreign shareholders hold the majority of its capital, Lufthansa said. Aug 4, 2006 Lufthansa Lufthansa partially owned subsidiary Thomas Cook For the company, see Thomas Cook AG. Thomas Cook (22 November 1808 – 18 July 1892) of Melbourne, Derbyshire, founded the travel agency that is now Thomas Cook AG. He was brought up as a strict Baptist and joined his local Temperance Society. AG sold subsidiaries Thomas Cook Overseas and Thomas Cook Lebanon to Dubai Financial, a Dubai Investment Group The Dubai Investment Group (DIG) is a subsidiary and member company of Dubai Holding. The company was originally called The Investment Office but was re-named in May 2005 to better reflect its ties to Dubai. subsidiary. Aug 4, 2006 Lufthansa Technik Lufthansa Technik saw its six-month operating profit fall 19.6% to [euro]111 million, Lufthansa Logistics more than doubled its operating result to [euro]47 million, Thomas Cook AG narrowed its loss to [euro]200 million and LH Systems' operating profit declined 16.7% to [euro]20 million. Jul 31, 2006 Republic Airways Republic Airways Holdings Republic Airways Holdings, Inc. (NASDAQ: RJET) is an aviation holding corporation based in Indianapolis, Indiana, which owns three regional airlines operating in the United States: Chautauqua Airlines, Republic Airlines and Shuttle America. , parent of Republic Airlines, Chautauqua Airlines Chautauqua Airlines is an airline based in Indianapolis, Indiana, USA. It operates scheduled passenger services on more than 670 flights daily to cities in 30 states, Canada and the Bahamas, through feeder services under the names Delta Connection for Delta Air Lines, and Shuttle America Shuttle America is a major airline based in Indianapolis, Indiana, USA. It feeds United Airlines flights at Chicago, Denver, and Washington as United Express, and feeds Delta Air Lines flights at Atlanta and New York as Delta Connection. , enjoyed a 51.2% surge in net income during the second quarter to $20.3 million compared to a profit of $13.4 million in the year-ago quarter. The company said significant capacity increases helped drive a 33.3% gain in revenue to $284.3 million. Expenses rose 30% to $231.8 million and operating profit jumped 50.3% to $52.6 million. Since June 30, 2005, Republic has placed 48 Embraer 170s into service and removed seven ERJ-145s and 10 Saab turboprops. It took delivery of four 170s during the second quarter for Delta Air Lines. Aug 3, 2006 TAP Portugal TAP Portugal flew 1.4 billion RPKs in June, a 17% increase over the year-ago month. Passenger numbers rose 9% to 586,015. The airline did not provide capacity or load factor. Jul 31, 2006 |
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