Airline Finance News - Europe.Nov 20, 2006
Air France Air France
in full Compagnie Internationale Air France
French passenger and cargo airline with more than 200 destinations in some 80 countries. It introduced supersonic Concorde service in 1976, but financial loss led the company to cease its Concorde 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 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 European Community: see European Union.
European Community (EC)
Organization formed in 1967 with the merger of the European Economic Community, European Coal and Steel Community, and European Atomic Energy 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 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
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 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 Agrees Pension Funding Plan. British Airways said on Wednesday it had agreed to make a one-off injection of GBP GBP
In currencies, this is the abbreviation for the British Pound.
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. 800 million pounds and pay up to GBP50 million (USD USD
In currencies, this is the abbreviation for the U.S. Dollar.
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. $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 (formerly Thomas Cook For the company, see Thomas Cook AG.
Thomas Cook (22 November 1808 – 18 July 1892) of Melbourne, Derbyshire, founded the travel agency that is now Thomas Cook AG. He was brought up as a strict Baptist and joined his local Temperance Society. Airlines appointed Aviareps subsidiary Airline Centre UK as general sales agent A General Sales Agent (GSA) is a sales representative for an airline in a specific country or region. Typically, the GSA is responsible for selling all products of the airline in its region which includes flight tickets and cargo space. for the UK. Nov 14, 2006
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, 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 operating costs npl → gastos mpl operacionales were up 11.1% to [euro]3.95 billion. Nov 15, 2006
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 operating revenue
Revenue from any regular source. Revenue from sales is adjusted for discounts and returns when calculating operating revenue. Compare other 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 Operating expenses
The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. rose 6.6% to [euro]1.34 billion. Operating profit Operating profit (or loss)
Revenue from a firm's regular activities less costs and expenses and before income deductions.
See operating income. 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 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 (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 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 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
Boosted by Star membership, TAP targets intercontinental growth. TAP Portugal 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. 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
Editor: Aram Gesar, eMail: edit@AirGuideOnline.com
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Nov 13, 2006