Airline Finance News - Europe.

For more airline finance news, data and analysis, please go to: http://www.airguideonline.com/professional.htm Jul 24, 2006

Air France KLM 

Air France CEO Jean-Cyril Spinetta has been interviewed by a French magistrate following a probe into possible money laundering and employment violations by Pretroy, a now bankrupt company which supplied security services to the airline. A statement by AF makes it clear that Spinetta is not under investigation and is innocent of any wrong doings. Pretory failed in 2003 when Air France was separate from KLM. It is alleged that the company, which helped to guard AF offices and supplied onboard security, was guilty of tax evasion. E10m in cash is also claimed to have gone missing. http://www.airfrance.com Jul 22, 2006

Air France-KLM

Air France-KLM Probed Over Security Firm Funds. Air France-KLM was formally put under investigation on Thursday by authorities for suspected misappropriation of funds at security firm Pretory which worked with the French-Dutch airline. Jul 21, 2006

Alitalia

Alitalia flew 3.39 billion RPKs in June, a 0.5% increase over the year-ago month, as capacity fell 4.2% to 4.59 billion ASKs. Load factor rose 3.7 points to 73.9%. Jul 20, 2006

Austrian Airlines

Austrian Airlines Group flew a consolidated 2.13 billion RPKs in June, a 1.8% increase over the year-ago month. ASKs climbed 2.8% to 2.9 billion, dropping load factor 0.7 point to 73.5%. Austrian Airlines Group is looking for further cost-cutting measures and is considering reducing or ending service to Australia. According to a source close to airline management, Austrian pays [euro]400,000 ($500,600) in operational costs for each one of its nine weekly 777-200ER rotations to Australia, where it serves Sydney six-times-weekly and Melbourne thrice-weekly. The route is being pressured by high fuel prices and fierce competition from Middle Eastern carriers operating between Europe and Australia. AAG CEO Alfred Oetsch is expected to discuss the carrier's strategy next week at a press briefing. Austrian is the only European Star Alliance member that offers direct flights to Australia. Jul 21, 2006

British Airways

British Airways said it reached an agreement with unions representing 1,800 London Gatwick-based crew on work rule changes that will save the carrier [pounds sterling]13.2 million ($24.1 million) per year. The deal combines long-haul and short-haul crews into one body, which CEO Willie Walsh said "will remove duplication and introduce more efficient working practices, while maintaining standards of customer service." BA operates 186 short-haul and 18 long-haul flights to and from LGW each day. Jul 19, 2006

British Airways

British Airways Sticks With Margin Aim, Agrees Union Deal. British Airways said on Tuesday it was keeping its goal for a 10 percent margin by 2008 and that it hoped a probe into suspected cartel activity by Europe's third-largest airline would be completed soon. Jul 18, 2006

Finnair

Finnair flew 1.55 billion RPKs in June, a 7.8% rise over the year-ago month. Capacity grew 2.9% to 1.97 billion ASKs and load factor increased 3.5 points to 78.7%. Jul 18, 2006

Iberia

Iberia flew 4.51 billion RPKs in June, a 10.5% increase over the year-ago month. Capacity climbed 6% to 5.56 billion ASKs and load factor rose 3.3 points to 81%. Jul 17, 2006