Airline Finance News - Europe.For more airline finance news, data and analysis, please go to: http://www.airguideonline.com/professional.htm Sep 4, 2006 Aer Lingus Aer Lingus is Ireland's national airline. Based in Dublin, it operates 41 Airbus aircraft serving Europe, Africa, North America and the Middle East. The airline is 28% owned by the Irish government; it was floated on the Dublin and London Stock Exchanges on 2 October 2006, Aer Lingus will report half-year profits of just under [euro]20 million ($25.7 million), up 27% from the [euro]15.5 million earned in the first six months of 2005, 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. Irish press reports. It is forecasting a full-year profit of [euro]92.5 million, an increase of 7.8% from the [euro]85.8 million earned in 2005. It reportedly attributed the first-half growth partly to a 12% increase in passengers on European routes. Sep 1, 2006 Aer Lingus Aer Lingus to float in late September. Aer Lingus and the Irish government yesterday formally announced details of their plan to float more than 50% of the government's shares in the airline on the Dublin and London stock exchanges London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. in late September. Net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of the IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. will be used primarily to finance expansion of the carrier's short-haul and long-haul fleets in addition to a one-off pension contribution. The sale is expected to raise [euro]400-[euro]500 million ($509.9-$637.4 million) in fresh equity. The government currently owns 85.1% of the carrier with the remaining 14.9% owned by employees (the Employee Share Ownership Trust holds 12.6%). The government will retain a significant minority shareholding of at least 25.1%, according to the joint statement. The size of the employee trust initally will be reduced when new shares are sold in the flotation but will return to its current level through a profit-sharing scheme. Ordinary share purchases will be subject to a minimum subscription of [euro]10,000. Aug 29, 2006 Aer Lingus Aer Lingus's present long-haul nework is rather limited and includes four routes to the US (New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of JFK, Boston, Chicago O'Hare and Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. ) and a new route to Dubai. It would benefit dramatically from an EU-US Open Aviation Area and aims to add several new US destinations, among them San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , Philadelphia, Washington Dulles, Dallas/Fort Worth or Houston. Its short-haul network comprises 11 routes from Ireland to the UK. Aug 29, 2006 Air France-KLM Air France-KLM (Euronext Paris: AF, NYSE: AKH) is an airline company incorporated under French law with its headquarters at Roissy-Charles de Gaulle Airport near Paris, France. Air France-KLM doubles first-quarter profit as rumors of Alitalia merger persist. Air France-KLM Group yesterday raised its full-year forecast and said it expects to "generate a significant increase in operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. compared to last year" as it reported a net profit of [euro]244 million ($313 million) for its fiscal first quarter ended June 30, more than double the [euro]112 million earned in the year-ago quarter. Sep 1, 2006 Air France-KLM Air France-KLM operating income rose 84.3% to [euro]411 million from [euro]223 million on an 11.9% increase in revenues to [euro]5.8 billion. Expenses climbed 11.8% to [euro]3.24 billion, driven by a 24.8% jump in fuel costs to [euro]1.01 billion. Sep 1, 2006 Air France-KLM Air France-KLM activity was "dynamic" in both the passenger and cargo segments, AF-KLM noted, and was accompanied by improvements in unit performance. Yield rose 4.5% to 8.76 euro cents as passenger revenues grew 12.1% to [euro]4.61 billion and traffic lifted 7.7%. Unit revenues increased 7.2% to 7.14 euro cents and CASK rose just 2.9% to 6.47 euro cents. It fell 0.9% on a constant currency and fuel price basis. Capacity was up 5% and load factor gained 2 points to 81.5%. Sep 1, 2006 Air France-KLM Air France-KLM yesterday once again denied mounting rumors of a pending tie-up with financially struggling Alitalia. "There are clear conditions set for a merger with Alitalia, and they are not fulfilled," AF-KLM Deputy 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. Pierre-Henri Gourgeon told analysts during a teleconference. "Alitalia should be privatized, and its recovery plan should demonstrate with real figures that recovery is on track." Gourgeon also brushed aside recent reports in the French and Italian press of a secret deal between the French and Italian governments that would exchange French support for the merger with Alitalia for renunciation The Abandonment of a right; repudiation; rejection. The renunciation of a right, power, or privilege involves a total divestment thereof; the right, power, or privilege cannot be transferred to anyone else. by Italy's Enel energy company of any intention to bid for France's SUEZ. The French government holds 18% of AF-KLM. The group and Alitalia hold small cross-shareholdings of about 3%. Sep 1, 2006 Finnair Finnair's Asian traffic will grow in the latter part of this year and 2007 by 30% thanks in part to an investment in Helsinki Vantaa's Asian terminal announced Tuesday by Finavia, the country's civil aviation administration. Finnair will add thrice-weekly Delhi service in October, increasing to five-times-weekly next spring. It also will launch service to Kuala Lumpur Kuala Lumpur (kwä`lə l  m`pr), city (1990 est. pop. and add
frequencies on Japanese and Chinese routes. CEO Jukka Hienonen Jukka Antero Hienonen (born on August 9, 1961) is a Finnish businessman. He is currently the CEO of Finnair, and a former Vice President of Stockmann. Hienonen lives in the city of Kauniainen with his wife and two daughters. He is fluent in Finnish, English, Swedish and Russian. said the
airline will carry 1 million passengers on Asian routes this year. He
recently said that Seoul and Chengdu are on the radar. Aug 31, 2006
Finnair, FlyNordic Finnair subsidiary FlyNordic said it will trim last year's [euro]17 million ($21.7 million) loss as it cut unprofitable routes during the summer and changes its focus to charter service. It was profitable in July as it transported 116,390 passengers, up 20% year-over-year, with a load factor of 80.6%. It said it will continue to trim its network during the winter. "This year we have begun hedging our fuel purchases in the same manner as Finnair," Deputy CEO Henrik Arle said. "The parent company Finnair has retired its MD-80 fleet, which allows FlyNordic to adjust or increase its capacity flexibly. This year the result will improve from the previous year but it will still be in the red." Finnair acquired FlyNordic in 2003. Aug 28, 2006 TAP Portugal TAP Portugal (former known as Transportes Aéreos Portugueses - Portuguese Air Transportations) is the national airline of Portugal, based in Lisbon and a member of the Star Alliance. TAP Portugal said in a statement yesterday that it is pursuing "potential acquisition [or] shareholder participation" in rival Portugalia Airlines. "The process is in its initial phase and no formal commitment has yet been entered into by the interested parties," the company said. TAP is working with Espirito Santo Financial Group. Sep 1, 2006 TAP Portugal TAP Portugal loses [euro]51 million in first half, still sees positive result for year TAP posted a [euro]51 million ($65.2 million) loss in the first six months of 2006, a [euro]3 million improvement compared to a [euro]54 million loss in the year-ago period, and the carrier said its board of directors still hopes to end 2006 "with positive financial results." All other indicators of the company's activity "showed a positive trend," TAP reported, highlighted by a 17% increase in operating revenue operating revenue Revenue from any regular source. Revenue from sales is adjusted for discounts and returns when calculating operating revenue. Compare other revenue. to [euro]710 million from the [euro]606 million generated in the first six months of 2005. Expenses climbed 14.8% to [euro]675 million, driven by a 41% rise in fuel costs to [euro]167 million. TAP said unfavorable exchange rates between the US dollar and Brazilian real The real (IPA: [xe'aw] or [ʁe'aɫ], symbol: R$, ISO 4217 code: BRL, plural: reais) is the currency of Brazil. It is also the name of the earliest Brazilian currency (see from the Colonial period to 1942. cost the company [euro]12 million. EBITDAR Earnings Before Interest, Taxes, Depreciation, Amortization, and Restructuring Costs - EBITDAR An indicator of a company's financial performance calculated as: = Revenue - Expenses (excluding tax, interest, depreciation, amortization, and restructuring costs) doubled to [euro]34 million. Operating result was a negative [euro]34 million compared to a negative [euro]39 million in 2005. Sep 1, 2006 TAP Portugal TAP Portugal's Air Transport Business Unit saw six-month revenues jump 17% to [euro]573 million while the Cargo Division's turnover rose 24% to [euro]41 million. The Maintenance & Engineering Unit earned [euro]58 million, a 25% year-over-year increase. Passengers grew 3.8% to 3.1 million as load factor remained steady at 70.8%. Sep 1, 2006 |
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