Airline Finance News - Europe.For more airline finance news, data and analysis, please go to: http://www.airguideonline.com/professional.htm Sep 11, 2006 Alitalia Alitalia prepares to review business plan as tough times linger. Alitalia, in which the Italian government still owns just under 50%, confirmed last week that it is reviewing and revising its business plan to counter rising fuel costs and adjust its targets. Business Plan 2005-2008 forecasts that AZ Fly, the airline entitity, will achieve a breakeven breakeven 1. The level of output or sales necessary to cover fixed expenses. Companies in industries that have high fixed costs and, consequently, high breakevens, such as automobile and steel manufacturing, are likely to exhibit large fluctuations result this year and an EBITDAR Earnings Before Interest, Taxes, Depreciation, Amortization, and Restructuring Costs - EBITDAR An indicator of a company's financial performance calculated as: = Revenue - Expenses (excluding tax, interest, depreciation, amortization, and restructuring costs) margin of about 14% for 2007 and 2008. Sep 5, 2006 Alitalia Alitalia said it posted an "overall postive performance" in July as ttraffic increased 0.9% year-over-year to 3.7 billion RPKs on a 0.9% reduction in capacity to 4.7 billion ASKs, lifting load factor 1.5 points to 79.3%. Passengers transported rose 0.6% to 2.3 million, although passenger numbers on the domestic and intercontinental networks fell 3.6% and 1% respectively. The company stated that group net debt rose to [euro]909 million ($1.17 billion) in July from [euro]896 million in June as cash reserves Cash reserves See: Cash investments cash reserves Investment funds that are held in short-term assets such as Treasury bills and certificates of deposit until more permanent investment opportunities are available. fell to [euro]862 million from [euro]879 million. Sep 5, 2006 Alitalia Alitalia warned in May while reporting a widening of its first-quarter 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. to [euro]129 million and a 3.1% decline in revenues that it would be "opportune op·por·tune adj. 1. Suited or right for a particular purpose: an opportune place to make camp. 2. Occurring at a fitting or advantageous time: an opportune arrival. to wait for the end of the second quarter as well as hope for an improvement in trade union relations" before making a full-year forecast. It is expected to report first-half results on Sept. 12. Meanwhile, unions have announced a 24-hr. strike for Sept. 7, blaming management for AZ's poor financial performance despite staff reductions and productivity increases. Sep 5, 2006 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. British Airways said it flew 9.99 billion RPKs in August, an increase of 5% from the year-ago month. Capacity rose 5.1% to 12.82 billion ASKs, dropping load factor 0.1 point to 77.8%. Sep 6, 2006 British Airways British Airways yesterday revealed that the disruption at London airports caused by the terrorist bombing scare cost it an estimated $75 million, a figure it said includes lost revenue and costs associated with hotel accommodation, catering and baggage repatriation Repatriation The process of converting a foreign currency into the currency of one's own country. Notes: If you are American, converting British Pounds back to U.S. dollars is an example of repatriation. . BA said advance bookings have returned to year-ago levels but are "still weaker than the trend of the past few months." It cited a drop in transfer traffic 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 carry-on baggage limitations at London airports. During the week of Aug. 10-17, the carrier cancelled approximately 1,280 flights. Sep 6, 2006 |
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