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Airline Finance News - Europe.

Nov 20, 2006

Air France KLM

Air France KLM said non-French shareholders increased their stake in the carrier to 47% over the past few weeks and stated that it will use an "authorized mechanism" to protect its traffic rights and "to safeguard national ownership once the nonresident shareholding has reached 45%." In its most recent "Connecting" letter to shareholders, AF KLM noted that it regularly conducts a process to identify its shareholders "in order to retain its traffic rights as well as its European Community air transport operating licenses." At June 30, French investors held more than 63.2% of the group while 36.3% of shareholders were not resident in France. French shareholders comprised employees (13.8%), institutional shareholders (19.1%), the state (18.6%) and individual shareholders (10.7%). Nov 15, 2006

Air France KLM

Air France KLM flew 17.01 billion RPKs in October, a 5.6% rise over the year-ago month. Capacity climbed 6% to 20.91 billion ASKs, dropping load factor 0.3 point to 81.4%. Nov 13, 2006

Alitalia

Alitalia swings to loss. Citing union unrest in September and the sharp increase in fuel prices, Alitalia reported a pre-tax loss of [euro]65.8 million ($84.5 million) in the third quarter, which compares to a [euro]15.7 million profit in the year-ago period. Nov 15, 2006

British Airways

British Airways Offers Retirement Age Concessions. British Airways said it was willing to revise a plan to raise the age of retirement for staff in return for higher pension contributions. British Airways will meet with unions regarding its latest offer to tackle the [pounds sterling]2.1 billion deficit of its New Airways Pension Scheme, which has 33,794 active members. Nov 17, 2006

British Airways

British Airways Agrees Pension Funding Plan. British Airways said on Wednesday it had agreed to make a one-off injection of GBP800 million pounds and pay up to GBP50 million (USD$94.5 million) a year for three years to tackle its pension deficit. Sources familiar with the situation played down a report they were planning to strike. Nov 15, 2006

Condor

Condor (formerly Thomas Cook Airlines appointed Aviareps subsidiary Airline Centre UK as general sales agent for the UK. Nov 14, 2006

Iberia

Iberia flew 4.65 billion RPKs in October, a 4.4% rise from the year-ago month. ASKs climbed 1.4% to 5.63 billion, lifting load factor 2.3 points to an October-record 82.6%. Nov 17, 2006

Iberia

Iberia, for the first three quarters of 2006, consolidated net earnings reached [euro]66.3 million versus [euro]401 million in the prior-year period. Revenues from operating activities, excluding nonrecurrent items, rose 9.8% to [euro]4.92 billion whereas operating costs were up 11.1% to [euro]3.95 billion. Nov 15, 2006

Iberia

Iberia Group posted consolidated net profits of [euro]75.6 million in the third quarter, down 80% from the [euro]372.6 million earned in the year-ago period, which encompassed capital gains realized from the sale of its Amadeus stake. Operating revenue excluding nonrecurrent items grew 6.7% to [euro]1.42 billion with revenue from passengers and freight up 5.2% to [euro]1.195 billion. Excluding nonrecurring items, operating expenses rose 6.6% to [euro]1.34 billion. Operating profit reached [euro]87.7 million, up 8.6%. Traffic rose 3.3% to 14.06 billion RPKs while ASKs increased 1.1% to 16.85 billion. Load factor improved 1.7 points, reaching a third-quarter record of 83.5%, a figure that outstripped the average for European scheduled airlines by 1.6 points. Nov 15, 2006

Iberia

Iberia in line with IB's 2006-08 Strategic Plan, long-haul capacity has been enlarged. ASKs on those routes lifted 7.4% in the quarter while capacity was reduced on shorter routes, especially domestic ones. Networkwide yield was up 2.9%. Unit costs grew 5.4%, chiefly because of fuel prices, to 7.94 euro cents. CASK excluding fuel increased only 0.8%. RASK rose 5.1% to 6.25 euro cents. Nov 15, 2006

SAS Scandinavian Airlines

SAS Group airlines flew 3.57 billion RPKs in October, a 5.1% increase over the year-ago month. Capacity was up 6.7% to 4.96 billion ASKs, dropping load factor 1.1 points to 71.9%. SAS Scandinavian Airlines flew 2.54 billion RPKs, a 2.2% decline, against a 0.3% increase in ASKs to 3.42 billion. Load factor fell 1.9 points to 74.3%. Nov 16, 2006

Spanair

Spanair flew 683 million RPKs in October, up 23.9% from the year-ago month. ASKs rose 19.3% to 987 million and load factor climbed 2.6 points to 69.2%. Nov 16, 2006

TAP Portugal

Boosted by Star membership, TAP targets intercontinental growth. TAP Portugal CEO Fernando Pinto said membership in the Star Alliance, which the carrier joined in spring 2005, has expanded its reach greatly through the networks of its partner airlines, boosting its appeal in the marketplace. Nov 13, 2006

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Nov 13, 2006
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Publication:Airguide Online
Date:Nov 20, 2006
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