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Airline Finance News - Europe.

May 21, 2007

Alitalia

Alitalia said on Saturday it will be forced to cancel 394 flights due to a strike on Tuesday by air traffic controllers. The contract dispute is only the latest unrest affecting the loss-making carrier, which has already cancelled hundreds of flights this month due to striking cabin crews. May 19, 2007

Alitalia

Alitalia reported a pre-tax loss of [euro]147.5 million ($199.9 million) in the first quarter, down slightly from a [euro]156.6 million deficit in the year-ago period. Operating revenues, including income generated through Volare Airlines, rose 7.4% to [euro]1.06 billion, with passenger revenue up 8% to [euro]824.8 million. Operating expenses increased 5.3% to [euro]1.11 billion and operating loss declined to [euro]107 million from [euro]129 million. RPKs grew 5.6% against a 2.7% increase in ASKs. Load factor was 69.9%, a gain of 1.9 points, while passenger numbers lifted 5.9% year-on-year to 5.5 million. Yield dipped 0.4% while RASK improved 2.4%. AZ did not provide exact yield and unit revenue numbers. It said it expects to report an "improved operating result" in 2007 and stressed it has sufficient cash in hand to cover operational and financial needs for a period in excess of 12 months. Final bids for the airline are due at the end of June. May 17, 2007

Alitalia

Alitalia Posts Smaller First Quarter Loss. Alitalia said on Tuesday its quarterly loss narrowed from a year earlier, when strikes weighed heavily on its results. The airline reported an operating loss of EUR107 million euros (USD$145 million) in the first quarter, down from a loss of EUR129 million (USD$175 million) a year earlier. The airline, hampered by frequent strikes and political meddling, has been put up for sale by the Italian government in a final attempt to turn it around. Three bidders have been shortlisted in its auction. May 16, 2007

Alitalia

Posts Smaller First Quarter Loss. Alitalia said on Tuesday its quarterly loss narrowed from a year earlier, when strikes weighed heavily on its results. May 16, 2007

Alitalia

Three Alitalia Bidders Move To Next Round. All three shortlisted bidders in the auction for Alitalia have made it to the next round after an assessment of their preliminary offers to buy the unprofitable airline, the Italian Treasury said on Monday. The three -- Russian airline Aeroflot, a US private equity consortium led by TPG; formerly known as Texas Pacific Group, and smaller Italian carrier Air One -- are to present binding offers by the end of June. May 15, 2007

Alitalia

Italy's Treasury Dept. yesterday cleared all three bidders for Alitalia to remain in the running. They will have access to Alitalia's financial books on May 24 and be able to submit binding bids at the end of June for the troubled airline. Remaining bidders are a consortium led by Texas Pacific Group and MatlinPatterson, a partnership between Air One parent AP Holding and Intesa Sanpaolo, and a recently formed tie-up between Aeroflot and UniCredit May 15, 2007

Alitalia

Three Alitalia Bidders Move To Next Round All three shortlisted bidders in the auction for Alitalia have made it to the next round after an assessment of their preliminary offers to buy the unprofitable airline, the Italian Treasury said on Monday. May 14, 2007

Alitalia, Aeroflot

Aeroflot Seeks Loans To Buy Alitalia Stake. Aeroflot is seeking up to USD$1.2 billion in loans from western banks to fund its purchase of 39.9 percent of Alitalia, Russia's Vedomosti newspaper said on Friday. May 18, 2007

British Airways

British Airways admitted fixing prices on fuel charges and set aside $692 million ([pounds sterling]350 million pounds) to pay potential fines from UK and U.S. regulators, hitting its shares. May 18, 2007

British Airways, Iberia

British Airways Pushes Buyout Firms To Bid On Iberia. British Airways is trying to push two buyout firms to join together in a common bid for Spanish carrier Iberia, which it would back, sources familiar with the matter said on Monday. Rival buyout firms Apax partners and Texas Pacific Group are both trying to bid for Iberia and each is trying to woo British Airways, which has a stake in Iberia, into their respective bidding groups. May 15, 2007
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Publication:Airguide Online
Date:May 21, 2007
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