Airline Finance News - Europe.For more airline finance news, data and analysis, please go to: http://www.airguideonline.com/professional.htm Aug 28, 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, Preliminary details on the Aer Lingus privatization privatization: see nationalization. privatization Transfer of government services or assets to the private sector. State-owned assets may be sold to private owners, or statutory restrictions on competition between privately and publicly owned . The much leaked sale is expected to leave the Irish state with 25% of the once struggling airline, 15% with an employee trust, and the balance on the London and Dublin stock markets. UK and Irish subscribers must put up at least E10,000 ([pounds sterling]6,750) and others E50,000. Under former boss Willie Walsh Willie Walsh (born in 1961) is an Irish airline executive. He is currently the Chief Executive Officer of British Airways and is a former Chief Executive of Aer Lingus Early life Walsh was born in Dublin, Ireland. He attended his local secondary school Ardscoil Rís. , now with British Airways British Airways in full British Airways PLC International passenger airline based in London. In 1936 British Airways Ltd. was founded through the merger of three smaller airlines. , the airline has been turned from a loss making full service carrier to something of an odd ball with a full service two-class long haul Long distance. Long haul implies traversing a state or a country. Contrast with short haul. routes to the US and Dubai, plus a 'low cost' European hub operation mainly from Dublin passengers offered a pay as you go 'sky cafe' menu. Pretax profits were E82.6m last year, a much better performance than the previous 12 months when the airline just scraped into the black. Turnover actually went down, employment dropped and passenger numbers increased, despite a fall in turnover from E907m to E883m. Passenger numbers rose by 15% to 8m but the payroll was reduced from more than 3,900 to below 3,500. The latest delay on a European "Open Skies" arrangement with the United States is not considered as too negative, Lingus currently only serving five American cities. Aug 26, 2006 Amsterdam Airport Schiphol H1 Profit Steady 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. 76.6 Mln. Amsterdam Airport operator Schiphol Group, which is slated to go public later this year, reported a first-half net profit excluding capital gains on investment property of EUR76.6 million (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. $98.3 million) on Thursday. Aug 24, 2006 Austrian Airlines Austrian Airlines Group flew 2.46 billion RPKs in July, a 4.9% drop from the year-ago month. Capacity declined 2.5% to 3.08 billion ASKs and load factor fell 2 points to 79.9%. Aug 21, 2006 Bmi Bmi pilots vote to strike. Bmi faces pilot strikes following a vote by British Airline Pilots Assn. members who fly for the mainline, bmi regional and bmibaby units. Aug 25, 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 President Radomir Lasak this week reported half-year losses of 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. 773 million ($35.2 million), widened from a CZK240 million loss in the first six months of 2005 but CZK20 million less than forecast, the CTK CTK Christ The King (school; various locations) CTK Ceská Tisková Kancelár (Czech News Agency) CTK Composite Tool Kit CTK Configuration Toolkit CTK Chance to Kill (video games) Czech News Agency reported. The carrier expects a full-year loss similar to the CZK496 million suffered last year but intends to return to the black in 2008. Revenues rose 8.9% to CZK 10.9 billion and costs increased 11.3% over the year-ago semester to CZK11.5 billion as the number of passengers climbed 6% to 2.5 million. Aug 24, 2006 CSA Czech Airlines CSA Czech Airlines unveiled its OK 06-08 restructuring program two months ago calling for elimination of 10%-20% of its payroll, or up to 1,000 employees. Lasak told CTK that 224 staff members have accepted a buyout so far and another 150 are expected to follow soon. The airline expects to save CZK150-CZK200 million through its turnaround measures this year and CZK500 million next year. Aug 24, 2006 Finnair Finnair said July RPKs increased 15.6% over the year-ago month, with capacity rising 10.5% and load factor improving 3.6 points to 82.4%. Aug 22, 2006 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 LTU German Airlines majority owner Hans Rudolf Woehrl said he wants to use the proceeds of the sale of dba to Air Berlin to strengthen the financial situation of the Dusseldorf-based leisure carrier. He told Die Welt that he wants to improve the product, especially in business class. Woehrl is expecting LTU to lose [euro]10-[euro]15 million ($12.9-$19.3 million) this year. No financial details have been released about the sale of dba. Aug 23, 2006 LTU German Airlines LTU likely not part of Air Berlin-dba merger. LTU German Airlines MD Juergen Marbach said the leisure airline's cooperation with dba will continue after the latter is acquired by Air Berlin in deal announced last week. LTU will maintain its program of network expansion, focusing on the long-haul side. Marbach said that in the past six month all synergies with dba have been realized with savings expected to reach double-digit million euros. Aug 21, 2006 |
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