Airline Finance News - Europe.Nov 6, 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 Trust Warns On Ryanair Bid. A trust for Aer Lingus staff shareholders said on Sunday it has begun polling its members on whether to accept a takeover bid Noun 1. takeover bid - an offer to buy shares in order to take over the company two-tier bid - a takeover bid where the acquirer offers to pay more for the shares needed to gain control than for the remaining shares by Ryanair, which it warns contains inaccuracies but has so far neither supported nor opposed. Nov 3, 2006 Aer Lingus Aer Lingus Urges Rejection Of Ryanair Bid. Ireland's Aer Lingus issued a detailed and forthright rejection of a takeover bid by low-cost rival Ryanair on Friday and urged its shareholders to snub an offer valuing it at EUR EUR In currencies, this is the abbreviation for the Euro. 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. 1.48 billion euros (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. $1.9 billion). Nov 3, 2006 Austrian Airlines Austrian Airlines AG is the flag carrier airline of Austria, headquartered in Vienna. It operates scheduled sevices to over 130 destinations. Its main base is Vienna International Airport, with a hub at Innsbruck Airport.[1] In 2006 Austrian had 10 million passengers. Austrian Airlines said yesterday that it will cut its long-haul fleet from 16 to 10 aircraft, resulting in route eliminations and likely job reductions. Nov 3, 2006 British Airways Airline Group Scraps Sale Of NATS NATS National Air Traffic Services NATS National Association of Teachers of Singing NATS Naval Air Transport Service NATS National Aerospace Technology Strategy NATS Nissan Anti-Theft System NATS Nebraska Association of Teachers of Science Stake - Report. A consortium of seven British airlines including British Airways has decided not to sell its 42 percent stake in Britain's National Air Traffic Services NATS, (formerly "National Air Traffic Services Ltd."), is the United Kingdom's main air navigation service provider. A full member of the Civil Air Navigation Services Organisation, NATS is also a shareholder in European Satellite Services Provider (NATS), according to a newspaper report. Nov 3, 2006 British Airways, BA Connect British Airways Profit Falls On Security Scare. British Airways posted a fall in second-quarter profits as expected on Friday, after a security alert at British airports forced it to cancel flights, and on the sale of its loss-making regional unit BA Connect. Nov 3, 2006 Flybe, BA Connect Flybe To Double In Size On British Airways Deal. UK airline Flybe bought British Airways' struggling regional unit on Friday as part of plans to double the size of the airline and cut costs ahead of a stockmarket flotation in two years. Flybe, a regional carrier based in southwest England, said it had agreed to buy BA Connect, a loss-making unit of British Airways, which it would use to expand its network in Europe. The airline declined to give details of the deal but British Airways said it had taken a 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. 106 million (USD$201.5 million) impairment charge on the sale and would take a 15 percent stake in Flybe under the deal. Nov 3, 2006 Flybe, BA Connect, Embraer Flybe Chief Executive Jim French said the acquisition would double the size of the airline with GBP600 million (USD$1.14 billion) in revenue and carrying nearly 10 million passengers a year. As a result of the deal, Flybe said it would defer plans to list on the London Stock Exchange 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. next year by 12 months to two years. French said the deal would generate cost-savings of GBP30 million (USD$57 million) a year. He did not rule out job cuts. Flybe is 82 percent owned by a private trust belonging to the family of the late Jack Walker, a multi-millionaire who made his fortune in steel and bankrolled English soccer club Blackburn Rovers. The carrier, which is smaller than low-cost carriers Ryanair and easyJet and flies in different markets, has expanded rapidly since changing its brand from British European in July 2002. Flybe last year ordered 14 new planes from Brazil's Embraer and took options for a further 12 in a USD$1 billion deal. It plans to have a fleet of 82 aircraft by 2009. Nov 3, 2006 Iberia Iberia will report a third-quarter profit of [euro]75.5 million ($96.1 million), down 79.7% from the [euro]372.5 million earned in the year-ago quarter, when it releases its results in two weeks, according to figures presented this week at the carrier's Investor and Analyst Day in Madrid. The year-ago period's profit was buoyed by a [euro]635.1 million gain resulting from IB's sale of its stake in Amadeus. Operating revenues rose 6.7% to [euro]1.42 billion and 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. increased 8.6% to [euro]87.7 million in the quarter. Nine-month profit of [euro]66.2 million fell 83.5% from [euro]401.8 million earned last year. Revenues were up 9.8% to [euro]4.02 billion and operating profit down 32.7% to [euro]73.5 million. IB will release its full results on Nov. 14. Nov 1, 2006 SAS (1) (SAS Institute Inc., Cary, NC, www.sas.com) A software company that specializes in data warehousing and decision support software based on the SAS System. Founded in 1976, SAS is one of the world's largest privately held software companies. See SAS System. Scandinavian SAS Scandinavian Airlines said last week that it intends to sell its 75% holding in its Rezidor SAS Hospitality Group hotels unit via an 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. set to occur by year end. No new Rezidor shares will be issued via the IPO. Carlson Hotels Worldwide, which currently owns 25%, will increase its stake to 35% through the purchase of shares from SAS. In anticipation of the spinoff, the company's name is being changed to Rezidor Hotel Group Rezidor Hotel Group, before known as RezidorSAS is a hotel company based in Belgium. The company is owned by the SAS Group (75%) and Carlson Hotels Worldwide (25%). In 2005 the company had 263 hotels in 48 countries. In 2006 the company changed its name to Rezidor Hotel Group. . SAS said in June that it would float the unit. Rezidor operates 272 hotels. Oct 31, 2006 Z Editor: Aram Gesar, eMail: edit@AirGuideOnline.com For more global news, reviews, features and analysis, please go to: http://www.airguideonline.com/onlinenews.htm To Subscribe to our Newsletters: http://www.airguideonline.com/order_formsubs.htm#news To Advertise: advert@AirGuideOnline.com Oct 30, 2006 |
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