Airline Finance News - Europe.Nov 13, 2006 U.S. losing business travelers to Europe. A World Travel Market report found the number of business arrivals to the U.S. dropped by 10% due to stringent security measures Noun 1. security measures - measures taken as a precaution against theft or espionage or sabotage etc.; "military security has been stepped up since the recent uprising" security the U.S. imposes on foreign visitors. Europe, on the other hand, saw an 8% increase in business visitors. Nov 7, 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, Aer Lingus board on Friday strongly advised shareholders to take no action on Ryanair's hostile takeover Hostile Takeover A takeover attempt that is strongly resisted by the target firm. Notes: Hostile takeovers are usually bad news, as the employee moral of the target firm can quickly turn to animosity against the acquiring firm. offer of [euro]2.80 ($3.53) per share, dismissing it as "ill-conceived, contradictory and anticompetitive an·ti·com·pet·i·tive adj. That discourages competition among businesses: anticompetitive foreign trade restrictions. ." In a circular, the board told shareholders that the Ryanair offer "significantly undervalues Aer Lingus [and] ignores Aer Lingus' excellent prospects as an independent company." At its current offer price, Ryanair would be buying EI "at a significant discount," the board concluded. 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. Dermot Mannion Dermot Mannion is the Chief executive officer of Aer Lingus, Ireland's national airline. Mannion was born in 1958 in Sligo, County Sligo, Ireland, one of eight children (four brothers and three sisters). He attended school at St. said the airline's recent 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. provided "the capital we need...Don't lose out on the opportunities that lie ahead," he implored shareholders. Nov 6, 2006 Aer Lingus, Ryanair The board argued that a takeover would destroy airline competition in Ireland, noting that the combined carrier "would have approximately 80% of all available European short-haul capacity from Dublin." It warned shareholders not to be "fooled" by Ryanair's claim that the combined carrier would not be a monopoly. Saying it is targeting a 15% annual return on fleet investment and has halved its unit costs over the last five years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time board argued that it is best positioned to successfully grow the airline, saying, "Shareholders will be best served by staying with Aer Lingus." Nov 6, 2006 Air France KLM KLM Kaiserliche Marine (Enigma: Rising Tide game) KLM Koninklijke Luchtvaart Maatschappij (Royal Dutch Airlines) KLM Klub Langer Menschen (German: Tall Person Club) Air France KLM Passenger Traffic Rises. Air France KLM reported a 5.6 percent rise in October passenger traffic on Tuesday, led by strong growth for the airline's routes to Asia, Africa and the Middle East. Nov 7, 2006 Air France KLM Air France KLM, the world's largest airline by revenues, said that October load factor dipped 0.3 percentage points to 81.4 percent. Nov 7, 2006 BA Connect August terrorist scare, BA Connect charge weigh on BA profit. Hit hard by the August terrorist scare and subsequent security measures, British Airways took a slight step backward after three consecutive quarters of rising profits, posting net earnings of [pounds sterling]168 million ($320.5 million) in the fiscal second quarter ended Sept. 30, down 1.8% from a [pounds sterling]171 million profit in the year-ago quarter. Nov 6, 2006 British Airways British Airways posted a fall in second-quarter profits last week, blaming the August security alert which forced it to cancel flights. Nov 7, 2006 British Airways British Airways sells struggling Regional subsidiary to Flybe. British Airways reached an agreement in principle to sell its money-losing Regional operation, BA Connect, to Exeter-based Flybe. Nov 6, 2006 Finnair Finnair reports 61% third-quarter profit decline, promises job cuts, outsourcing. Finnair reported a third-quarter net profit of [euro]10.3 million ($13.1 million), narrowed 61% from net income of [euro]26.4 million in the year-ago quarter, and said it will cut jobs and outsource "some operations" in an effort to lower 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. . Nov 8, 2006 Lufthansa Lufthansa flew 9.87 billion RPKs in October, a 3.5% rise over the year-ago month. ASKs climbed 1.3% to 13.06 billion and load factor was up 1.6 points to 75.6%. Nov 10, 2006 Lufthansa Lufthansa generates half of its transatlantic sales from US-based customers, new VP-Americas Jens Bischof told reporters in Washington Friday, a fact that makes the airline particularly supportive of an EU-US open skies treaty. The negotiations are "a very long and tough process," he said. "But it has to happen--better sooner than later. The strong airlines will benefit and the weaker will struggle. The weakest will not survive, which is needed to get rid of excess capacity. We're seeing overcapacity right now and that's not healthy." Citing recent confusion over security regulations, Bischof said open skies would lead to "further harmonization" of all regulations. A "free flow" of air traffic between the EU and US "is clearly our target," he said. "We would take nice advantage of this agreement." Nov 6, 2006 SAS Ground Services SAS Ground Services is Europe's third largest full-service provider of Airline ground handling and airport related services. SAS Ground services became a limited company in 2004 and are the largest ground handling company in Scandinavia. SAS Ground Services airport services revenues grew 7.0 percent to 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. 1.274 billion (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. $1.64 billion), including commercial revenues which rose 7.6 percent to EUR155 million (USD$199.6 million) and airport fees up 5.8 percent to EUR501 million (USD$645 million). Nov 10, 2006 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 SAS Group posts improved third-quarter profit, cites 'strong economy'. SAS Group reported third-quarter net income of SEK SEK In currencies, this is the abbreviation for the Swedish 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. 604 million ($84.3 million), up 14.2% from a profit of SEK529 million in the year-ago quarter, on an 8.9% rise in revenues to SEK18.04 billion. Nov 9, 2006 TAP Portugal, PGA (1) (Professional Graphics Adapter) An early IBM PC display standard for 3D processing with 640x480x256 resolution. It was not widely used. (2) (Programmable Gate Array) See gate array and FPGA. Porgulia TAP Portugal and Espirito Santo International signed the contract for TAP's acquisition of 99.81% of PGA Portugalia Airlines. Purchase price was "some [euro]140 million," according to a statement, and thus higher than the price indicated by TAP CEO Fernando Pinto last week. TAP also is purchasing PGA's 6% holding in the Groundforce handling company for [euro]4 million. The transaction is subject to approval from the Portuguese competition authority. Nov 8, 2006 TAP Portugal, PGA Porgulia "This is a strategic step towards TAP Portugal[sup.1]s further development, thus allowing the company to fulfill passengers' expectations to a better degree and also to leverage the potential of the main operation's hubs, out of Lisbon and, above all, out of Porto," Pinto commented. "This acquisition will also give TAP a new breadth, which will allow the company...to compete more evenly with other foreign airlines." PGA will maintain its own identity, management and operational autonomy. Both carriers will adjust and harmonize flight schedules, especially on the Lisbon-Porto route. Nov 8, 2006 Z Editor: Aram Gesar, eMail: edit@AirGuideOnline.com For more global news, reviews, features and analysis, please go to: http://www.airguideonline.com/onlinenews.htm To Subscribe to our Newsletters: http://www.airguideonline.com/order_formsubs.htm#news To Advertise: advert@AirGuideOnline.com Oct 30, 2006 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion