Airline Finance News - Europe.For more airline finance news, data and analysis, please go to: http://www.airguideonline.com/professional.htm Jun 19, 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, which plunged to a CZK CZK In currencies, this is the abbreviation for the Czech Koruna. 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. 496 million ($22.1 million) loss in 2005 from a CZK324 million profit the year before, yesterday unveiled a three-year plan to return to profitability dubbed "OK 06-08" that will include a 10%-20% workforce reduction. The airline's initiatives are a stricter focus on the core business, simplification of its ticket sales process, a cost-benefit analysis cost-benefit analysis In governmental planning and budgeting, the attempt to measure the social benefits of a proposed project in monetary terms and compare them with its costs. of existing services and the addition of long-haul flights to East Asia with renewal of the long-haul fleet beginning in 2008. CSA said it will consider putting its cargo, catering and duty-free units up for sale. It also will spin its charter unit off into a separate subsidiary, look to renegotiate certain collective bargaining agreements The contractual agreement between an employer and a Labor Union that governs wages, hours, and working conditions for employees and which can be enforced against both the employer and the union for failure to comply with its terms. and transition to a more modern IT platform across its operation. Jun 14, 2006 Dba, LTU LTU Luleå Tekniska Universitet (Luleå University of Technology; formerly Luleå Tekniska Högskola) LTU Lithuania LTU La Trobe University (Australia) LTU Lufttransport-Unternehmen GmbH German Airlines Dba purchased the remaining 40% stake in LTU German Airlines held by Rewe Group through the Intro Verwaultungs investment concern belonging to Hans Rudolf Woehrl, dba's largest shareholder. Intro now owns 100% of LTU, having acquired a 60% share of the struggling charter carrier in a deal announced in February. Woehrl will face difficulties attempting to implement a [euro]45 million ($57.3 million) cost-cutting program at LTU. According to Handelsblatt, LTU employees are unwilling to agree to a further [euro]15 million in salary cuts. Unions reportedly want to have a clearer picture of LTU's future before discussing more concessions. The airline is struggling with high fuel costs and increasing pressure from low-cost carriers. It still has room to expand its network, however. From the start of the winter season it will offer services to Bangkok from Munich (thrice-weekly) and Dusseldorf (four-times-weekly) and a weekly DUS-Samana, Dominican Republic, flight. Jun 12, 2006 Finnair Finnair said a [euro]100 million bond issued Wednesday and directed at Finnish institutional investors was fully subscribed Fully Subscribed A situation in which an underwriting firm has successfully sold to investors all of its available issues of a public offering of securities. When the issue is fully subscribed, the underwriter's risk of being undersubscribed (being unable to sell its allotment of . It matures in 2012. "With this emitted bond we wanted to expand our financing flexibility. Our fleet investment program is over [euro]1 billion for the years 2006-2015," CFO See Chief Financial Officer. Lasse a. & adv. 1. Less. Heinonen said. Jun 16, 2006 Iberia Iberia flew 4.33 billion RPKs in May, an 8.1% rise over the year-ago month. Capacity climbed 6% to 5.68 billion ASKs and load factor increased 1.5 points to 76.2%. Jun 14, 2006 Lufthansa Lufthansa flew 9.74 billion RPKs in May, a 2.2% increase over the year-ago month. Capacity rose 1.4% to 13.06 billion ASKs, lifting load factor 0.6 point to 74.5%. Jun 14, 2006 |
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