Airline Finance News - Europe.Dec 11, 2006 EU, Russia agree to end Siberian overflight o·ver·flight n. An aircraft flight over a particular area, especially over foreign territory. Noun 1. overflight - a flight by an aircraft over a particular area (especially over an area in foreign territory) charges. The EU and the Russian Federation Russian Federation: see Russia. finally agreed to phase out costly Siberian overflight fees by 2013. Dec 8, 2006 UK Airlines Slam Plans To Double Passenger Tax. Airlines slammed government plans on Wednesday to double UK taxes on air travel, saying the flat rate would remove the incentive to fly greener aircraft. Dec 6, 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 presented its unions with a 12-point cost-cutting plan Friday as part of its continuing effort to thwart Ryanair's floundering takeover bid Noun 1. takeover bid - an offer to buy shares in order to take over the company two-tier bid - a takeover bid where the acquirer offers to pay more for the shares needed to gain control than for the remaining shares and succeed as an independent carrier. According to press reports, EI has promised not to cut jobs without workers' consent. It also intends to simplify pay grades, enact standard work rules, renegotiate airport and ground handling contracts, introduce a fuel efficiency plan and look into the establishment of overseas bases, according to The Irish Times. Dec 4, 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 reports soaring profit, acknowledges Alitalia talks. Air France KLM Group improved its fiscal first-half profit to [euro]618 million ($809 million), up 50.7% from [euro]410 million in the year-ago semester, results Chairman Jean-Cyril Spinetta attributed to the "unique competitive position" of the merged airline company. Dec 8, 2006 Alitalia Italy's government, as expected, moved to sell 30.1% of its 49.9% stake in troubled Alitalia, insisting that new investment is the only way to save the carrier. But the government said it would only consider potential buyers that agree to make a full takeover bid and "maintain the national identity of the company and its logo and brand." Dec 7, 2006 Alitalia Italian government ready to sell off more of Alitalia. The Italian government on Friday confirmed its intention to reduce its controlling interest controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail in Alitalia in an effort to lift the carrier out of the red and into an alliance. Dec 4, 2006 Austrian Airlines Austrian Airlines Group said it raised [euro]367 million through the offer of up to 51.68 million bearer shares that concluded Dec. 1 with a final offer price of [euro]7.10 per share. "With the successful completion of our transaction, we have taken an important step in our restructuring program," 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. Alfred Oetsch said in a statement. The Internet, which more than 20 years ago was regarded "as an experiment in how to move data," now is the primary channel by which most major airlines communicate with their customers and ultimately could form the backbone of operational communications. Dec 5, 2006 British Airways British Airways To Resume Pension Talks Next Week. British Airways said on Thursday it expected to meet trade unions later next week to hammer out a deal on tackling its GBP GBP In currencies, this is the abbreviation for the British Pound. 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. 2.1 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. $4.13 billion) pension deficit. Dec 7, 2006 Lufthansa, Thomas Cook Lufthansa May Sell Thomas Cook Before Year End. Lufthansa could agree to sell its 50 percent stake in tourism firm Thomas Cook to co-owner KarstadtQuelle before Christmas, a German newspaper said on Saturday. Dec 7, 2006 Olympic Airlines Olympic Airlines Loss Widens. Greece's ailing state carrier Olympic Airlines, posted a net loss of 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. 123.7 million (USD$163.4 million) for 2005, based on financial statements published in Greek newspapers. Dec 7, 2006 Ryanair, Aer Lingus Ryanair's rising stake in Aer Lingus, Mannion said that EI accepts its fiduciary responsibility to the LCC (Leadless Chip Carrier, Leaded Chip Carrier) See leadless chip carrier, CLCC and PLCC. 1. LCC - Language for Conversational Computing. Written at CMU in the 1960's. as it does to all of its shareholders, but stressed again that his airline wishes to remain independent. He told the conference that EI is second only to Ryanair in Europe in profitability margin, pointing out that the two have been competing on short-haul routes for 20 years or so. "We have dramatically changed our revenue strategy and dramatically reengineered our business model to compete with the best of the rest [of the] low-cost carriers," he said. "Almost 80% of our selling activity is now online and we want to grow it well beyond that and probably close to 90% within the next 12 months." Dec 6, 2006 Swiss International Swiss International Air Lines Swiss International Air Lines (short: Swiss) is the principal airline of Switzerland operating scheduled services in Europe and to North America, South America, Africa and Asia. Its main hub is Zurich Kloten Airport (ZRH). reached an agreement with unions representing its ground staff that provides a 1.1% salary increase, an additional two vacation days each year and a one-time payment of CHF CHF In currencies, this is the abbreviation for the Swiss Franc. 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. 1,200 ($1,005) to be added to workers' December salaries. Dec 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 Nov 13, 2006 |
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