Airline Finance News - Europe.For more airline finance data and analysis, please go to: http://www.airguideonline.com/professional.htm May 22, 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, Irish government is targeting September or October for the sale of part of its stake in Aer Lingus, 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. press reports. No schedule was announced when it agreed last month to 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. , which will see it reduce its stake from 85.1% to 25.1%. Aer Lingus management had been pushing for a flotation in June. May 19, 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 's full-year operating revenues rose 10.2% to [euro]21.45 billion whereas costs were up 8.4% to [euro]20.51 billion. Consequently, operating profits soared 69.3% to [euro]936 million from [euro]553 million in the prior year. Operating margin Operating Margin A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: improved "significantly" from 2.8% to 4.4%. "The synergies generated by the merger, combined with our ongoing cost-control measures, have not only enabled us to attenuate To reduce the force or severity; to lessen a relationship or connection between two objects. In Criminal Procedure, the relationship between an illegal search and a confession may be sufficiently attenuated as to remove the confession from the protection afforded by the the impact of the rise in fuel prices, but also to improve our margins significantly," Spinetta said. Fuel costs reached [euro]3.59 billion, up 32% from the prior FY. May 19, 2006 Air France-KLM Air France-KLM's net income for the fourth quarter was [euro]7 million, down 30.3% on the year-ago period. Activity levels remained "robust at all the group's businesses," lifting revenues 12.7% to [euro]5.19 billion. Operating charges rose 12.1% to [euro]5.2 billion, mainly owing to owing to prep. Because of; on account of: I couldn't attend, owing to illness. owing to prep → debido a, por causa de fuel costs. Operating result was "at breakeven" as the loss narrowed to [euro]4 million from [euro]30 million in the year-ago quarter. May 19, 2006 AirBaltic AirBaltic carried 113,723 passengers in April, 44% more than in the year-ago month. Load factor rose 12 points to 62%. May 18, 2006 Alitalia Alitalia's capacity declined 2.3% to 1.22 billion ASKs and traffic inched up 1.8% to 813 million RPKs. Load factor reached 68.1%, improving 2.7 points compared to a year earlier, and unit revenues rose 0.6%. The number of passengers carried grew 1.9% to 5.2 million. The group's net debt increased to [euro]820 million from [euro]754 million one year earlier. May 17, 2006 Alitalia Alitalia's fuel costs increased 24.7% to [euro]193 million, but total 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. fell 1.8% to [euro]1.09 billion as the AZ Servizi spinoff had a positive effect on labor costs, which plunged 35% to [euro]191 million. The group's workforce on March 31 amounted to 10,873, down about 46% compared to March 31, 2005. Operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. widened to [euro]128.8 million from [euro]118.1 million in the year-ago quarter. May 17, 2006 Alitalia Alitalia's labor unrest labor unrest n (US) → conflictividad f laboral adds to its first-quarter woes. Alitalia's first-quarter pre-tax loss widened to [euro]156.6 million ($201.6 million) from [euro]141.2 million in the year-ago quarter as January's labor unrest aggravated the low-season effect that marks the March quarter.Revenues decreased 3.1% to [euro]965 million, mainly owing to the deconsolidation of the Alitalia Servizi services unit and the drop in passenger income caused by the strikes. Passenger revenues slid 1.6% to [euro]764 million, with yield falling 3.4%. May 17, 2006 Finnair Finnair reported a 5.3% increase in April traffic to 1.35 billion RPKs against a 5.2% decline in capacity to 1.8 billion ASKs. Load factor climbed 7.6 points to an April record 75.3%. May 16, 2006 Flybaboo Flybaboo of Switzerland joined the UATP UATP Universal Air Travel Plan (corporate chargecard system for purchase of air and rail transportation) UATP User Acceptance Test Plan (Sprint) network and will accept all UATP corporate cards as part of its global corporate travel payment network. May 17, 2006 Iberia Iberia's losses widen on fuel costs. Iberia Group reported a consolidated net loss of [euro]45 million ($57.4 million) for the three months ended March 31, a sharp increase from the [euro]16.1 million deficit posted in the year-ago quarter. The carrier said the principal reason for the red ink red ink Health administration A popular term for financial losses. Cf in the Black. was the steep rise in the price of aviation fuel, on which it spent [euro]257.6 million, an increase of 45.3%. Fuel accounted for 20.3% of its operating costs last quarter. Operating revenues grew 7.9% to [euro]1.2 billion, of which [euro]884.56 million came from passenger traffic, a gain of 9.1%. Operating expenses climbed 10.2% to [euro]10.25 billion, more than doubling Iberia's negative operating result to a [euro]65.42 million loss. May 15, 2006 Icelandair, Sterling. FL Group FL Group profit surges despite losses at Icelandair, Sterling. FL Group, the investment firm that owns Icelandair, Sterling Airlines and other air transport and tourism companies, reported a first-quarter net profit of ISK ISK In currencies, this is the abbreviation for the Iceland Krona. 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. 5.84 billion ($82.9 million), a result that compared to a profit of ISK25 million in the year-ago quarter and "highlight[s] FL Group's focus as an investment company specializing in strategic and private equity projects as well as hedge fund hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" activity." May 19, 2006 Luxair Luxair reported a net profit of [euro]5.5 million ($7.1 million) in 2005, down from earnings of [euro]13.4 million in 2004, ending its "year of transition." Its airline unit lost [euro]11.7 million, a deficit that was made up by its "booming" tour operation business and handling services unit. Luxembourg's flag carrier said the earnings decline largely was due to [euro]15 million "taken as a provision to finance the social aspect of the ongoing restructuring program," dubbed Building a New Airline, which aims to return the airline segment to profitability by 2008. The initiative includes 210 staff redundancies, streamlining the route network and "structural changes aimed at the reduction of production costs and the increase of revenue." May 16, 2006 Luxair Luxair turnover increased 6.4% to [euro]325.6 million from [euro]306 million and operating expenses rose 4.7% to [euro]334.9 million. Operating profit fell 17.9% to [euro]3.2 million. Passenger numbers were up just 0.9% to 1.18 million as traffic climbed 4% to 1.19 billion RPKs. Load factor rose 4.1 points to 65.7%. May 16, 2006 SAS Group SAS Group reported a 6.4% year-on-year increase in April system traffic to 3.23 billion RPKs. Capacity slipped 2.7% to 4.4 billion ASKs, lifting load factor 6.3 points to 73.4%. 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 Airlines traffic fell 1.3% to 2.31 billion RPKs against a 9% decrease in capacity to 3.04 billion ASKs, sending load factor up 6 points to 76.1%. May 18, 2006 SAS Group SAS 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. Lindegaard to step down. SAS Group President and CEO Jorgen Lindegaard, who kept the airline aloft through the most challenging period in its history, announced yesterday that he will resign this fall, saying in a statement, "I feel that the time is right for a new CEO to take over." May 17, 2006 |
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