Airline Finance News - Europe.Aegean Airlines Aegean Airlines said its 2005 sales are expected to exceed [euro]330 million ($392.8 million), representing an 18% increase over 2004. The carrier flew 4 million passengers last year, a rise of 12.3%. Feb 24, 2006 Air France Air France in full Compagnie Internationale Air France French passenger and cargo airline with more than 200 destinations in some 80 countries. It introduced supersonic Concorde service in 1976, but financial loss led the company to cease its Concorde Air France is set to slash thousands of jobs, 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. unions representing the carrier's workers. Unions claim just a fraction of up to 5,000 staff set to retire by 2008 will be replaced. However, the airline said its 72,000 staff numbers will remain stable over the next three years. The airline and its partner KLM KLM Kaiserliche Marine (Enigma: Rising Tide game) KLM Koninklijke Luchtvaart Maatschappij (Royal Dutch Airlines) KLM Klub Langer Menschen (German: Tall Person Club) are looking to save costs wherever they can. http://www.airfrance.com Feb 26, 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. Group said it will pursue a "profitable growth strategy" during the summer by boosting capacity 5.6% over summer 2005, comprising a 6% increase on its long-haul network, a 6.3% rise on its international medium-haul network and a 1.1% increase domestically. Feb 22, 2006 Air France-KLM announced the signing of a protocol agreement finalizing implementation of a European Works Council Noun 1. works council - (chiefly Brit) a council representing employer and employees of a plant or business to discuss working conditions etc; also: a committee representing the workers elected to negotiate with management about grievances and wages etc to "inform and consult workers about all matters concerning the Group as well as issues of a transnational character." The joint body, established to conform with European law, will supersede To obliterate, replace, make void, or useless. Supersede means to take the place of, as by reason of superior worth or right. A recently enacted statute that repeals an older law is said to supersede the prior legislation. those of the individual airlines but will not replace staff representative bodies from each company and in each country. The council will comprise 37 members appointed or elected for a period of four years. Feb 20, 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 reported an 11.9% increase in January RPKs to 1.73 billion and a 3.3% rise in capacity to 2.38 billion ASKs, driving up passenger load factor 5.6 points to 72.7%. Feb 23, 2006 Austrian Airlines Group completed the sale of its catering company Airest to SAVE Group of Italy. The deal is worth approximately [euro]30 million ($35.8 million) and will require the consent of competition authorities, which is expected in the coming weeks. Airest will continue to supply Austrian with catering service. Feb 23, 2006 British Airways British Airways is undertaking a revue of its non-core businesses under the guidance of chief executive Willie Walsh, who was responsible for huge cost-cuts at Aer Lingus. Areas up for revue are understood to include the Air Miles 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 program and tour operation BA Holidays. http://www.ba.com Feb 26, 2006 DBA Airlines DBA confirms ambitions with acquisition of LTU LTU Luleå Tekniska Universitet (Luleå University of Technology; formerly Luleå Tekniska Högskola) LTU Lithuania LTU La Trobe University (Australia) LTU Lufttransport-Unternehmen GmbH . DBA, days after announcing that it doubled its capital through the sale of a 25.1% stake to investor Lutz Helmig, acquired a 60% share of charter carrier LTU Friday through majority owner Hans Rudolf Woehrl's Intro Verwaltungs investment group, creating a low-cost alliance it hopes can compete with Lufthansa. Feb 20, 2006 EasyJet EasyJet has revealed it will suffer a doubling of losses in its first half of annual results due to rising fuel prices. The jump from [pounds sterling]22 million to [pounds sterling]45 million is put down by the airline to fuel costs and the late Easter. The low-cost airline added that it expected to lose [pounds sterling]55 million due to the fuel prices this year. http://www.easyjet.com Feb 26, 2006 EasyJet faces first-half loss but remains on course for profitable 2006. Increased revenues, including double-digit growth in ancillary revenue Ancillary Revenue Revenue generated from goods or services that differ from or enhance the main services or product lines of a company. By introducing new products and services or using existing products to branch into new markets, companies create additional opportunities for , and strong performance at its newer bases in Berlin, Dortmund and Basel left easyJet on course "to achieve mid to high single-digit percentage profit growth" in the fiscal year ending Sept. 30 despite rising fuel prices, Chairman Colin Chandler said yesterday. Feb 23, 2006 Estonian Air Estonian Air announced it earned a net profit of EEK EEK In currencies, this is the abbreviation for the Estonian Kroon. 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. 65.9 million ($5 million) in 2005, an improvement of 95% over 2004 net earnings of approximately $2.6 million. 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. increased 20% to EEK1.14 billion as the number of passengers carried grew 18% to 642,700. The carrier said it will add flights to Barcelona, Dubrovnik and Simferopol in 2006 as well as frequencies on its Stockholm, Oslo and Copenhagen routes. Those three, along with London, proved to be Estonian's most popular destinations last year. The company's charter business grew 75% to 65,000 passengers. Feb 23, 2006 Finnair Group Finnair Group reported an 8.6% increase in January RPKs and a 6.6% rise in capacity, resulting in a 1.4-point gain in load factor to 74.3%. Feb 23, 2006 Iberia Iberia flew 3.9 billion RPKs in January, up 3.1% over the year-ago month, on a 0.4% rise in capacity to 5.4 billion ASKs. Load factor improved 1.9 points to 73.2%. Number of passengers grew 3.6% to 1.96 million, of which 1.05 million flew on the domestic network. Feb 20, 2006 Norwegian Airlines Norwegian reported a 101% increase in January traffic to 226 million RPKs. Capacity climbed 76% to 313 million ASKs and load factor rose 8 points to 72%. The carrier expected a yield of NOK NOK In currencies, this is the abbreviation for the Norwegian Krone. 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. 0.72 (10.7 cents), a decrease of 8% from the year-ago month. Feb 20, 2006 |
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