Airline Finance News - Europe.Jun 18, 2007 British Airline Pilots Challenge Environment Myths. A petition from the British Airline Pilots' Association (BALPA BALPA n abbr (= British Airline Pilots' Association) → sindicato de pilotos de líneas aéreas BALPA n abbr (= British Airline Pilots' Association) → syndicat des pilotes de ligne ), which has 85% of Britain's 10,000 airline pilots, will be present to the UK Government, detailing research which "challenges the myth that air transport is the major cause of growing carbon dioxide carbon dioxide, chemical compound, CO2, a colorless, odorless, tasteless gas that is about one and one-half times as dense as air under ordinary conditions of temperature and pressure. emissions." The report - 'Aviation and the Environment' examines the true impact of aviation and "deals with the half truths and untruths" told by those who attack air travel and make passengers feel guilty about taking a flight. BALPA points out that road transport carbon dioxide emissions in the UK in the 15-year period 1990 to 2005 increased by 11m tons - from 109m to 120m tons of carbon. That increase alone - just the increase - is more than the total carbon dioxide emissions from aircraft in the UK today (10m tons) says the pilots' union. Jun 17, 2007 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, , Ryanair Aer Lingus has mounted a vigorous defence of its position ahead of a ruling by the European Union European Union (EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the European Community concerning the proposed takeover by Ryanair. Jun 13, 2007 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 flew 16.81 billion RPKs in May, up 3.9% from the year-ago month. Capacity rose at the same rate to 21.26 billion ASKs, leaving load factor level at 79.1%. Jun 11, 2007 Air France KLM, Martinair Air France KLM is seeking full control of Amsterdam-based Martinair and has begun lobbying the European Commission European Commission, branch of the governing body of the European Union (EU) invested with executive and some legislative powers. Located in Brussels, Belgium, it was founded in 1967 when the three treaty organizations comprising what was then the European Community to obtain clearance for a 100% holding, according to widespread reports from the Netherlands. Martinair is owned jointly by KLM and Danish shipping group Moeller-Maersk. KLM initially launched a bid in 1998 but was rebuffed by the EC, which also imposed a fine equal to euro40,000 ($53,474) on the Dutch flag carrier for supplying incorrect and misleading information regarding transavia.com, 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. that operates as an independent subsidiary of AF KLM. The company's new plan involves integrating Martinair's cargo activities into its own operation while incorporating MP's European charter business into transavia, De Telegraaf reported. MP would focus on long-haul charters. It posted a a[logical not]7 million loss in 2006, reversed from a profit of a[logical not]14 million in 2005, as both its cargo and passenger activities were impacted by high fuel prices. Jun 12, 2007 Alitalia Alitalia posted a first-quarter 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. 135 million euros (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. $180 million) on Tuesday, smaller than the loss of EUR159 million a year ago, and said that it had cash for another 12 months. In a statement, Alitalia also said its operational continuity depended on the outcome of its ongoing sale process. But it added it was not aware of any plan by its shareholders, the largest one being the Italian Treasury, to close it down should the sale process fail. The airline also said the Treasury had asked it to draft guidelines for a sustainable business plan for the next three years in spite of the ongoing sale process. Alitalia said its auditor Deloitte had certified the conformity of Alitalia's 2006 accounts with International Financial Reporting Standards International Financial Reporting Standards (IFRS) are standards and interpretations adopted by the International Accounting Standards Board (IASB). Many of the standards forming part of IFRS are known by the older name of International Accounting Standards (IAS). . The Treasury, which owns 49.9 percent of Alitalia, has put the loss-making carrier up for sale. Only two suitors, Italian airline Air One and Russian flag carrier Aeroflot, are left in the bidding after private equity fund TPG TPG Texas Pacific Group TPG Tapping TPG Transports Publics Genevois (Geneva, Switzerland public transportation) TPG Test Pattern Generator TPG TNT Post Group TPG Trésorier Payeur Général pulled out at the end of May. The Treasury has asked bidders to submit binding offers by July 2. Jun 13, 2007 Alitalia Alitalia Posts Q1 Loss, 12 Months Cash LeftTroubled Italian airline Alitalia posted a first-quarter net loss of EUR135 million euros (USD$180 million) on Tuesday, smaller than the loss of EUR159 million a year ago, and said that it had cash for another 12 months. Jun 12, 2007 Domodedovo Airlines Domodedovo Airlines reported a RUB495.6 million ($19.2 million) net loss in 2006, nearly double its deficit in the prior year, Russia's AK&M reported. Revenues rose 27.4% to RUB7.6 billion. Domodedovo operates 15 Illushin IL-62s and five IL-96-300s. Jun 11, 2007 Finnair Finnair President and 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. Jukka Hienonen has concluded that the airline's Asian strategy has "paid off." He said at last week's IATA IATA International Air Transport Association, which sets the rules for air transport, including those concerning air transport of animals. AGM AGM annual general meeting AGM n abbr (= annual general meeting) → AG f AGM n abbr (= annual general meeting) → JHV f in Vancouver that 2007 Asian traffic has grown 30% year-over-year and is expected to maintain that rate through year end. Last month, 70% of passengers inbound from Asia connected on Finnair's European network, he added. He said the airline is considering opening a fifth Chinese destination and is targeting South Korean service as well. Having ceded its Singapore flights to codeshare partners, it will focus principally on China, Japan and India, although it continues to fly to Bangkok. A third Indian city may be added if services to Mumbai and Delhi are successful. Jun 12, 2007 Lufthansa Lufthansa flew 10.37 billion RPKs in May, up 6.2% on the year-ago month. Capacity climbed 4.4% to 13.64 billion ASKs and load factor rose 1.3 points to 76.1%. Jun 13, 2007 Midwest Air, AirTran Airways Midwest Air, which is trying to fend off a 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. by AirTran, said on Tuesday second-quarter earnings will fall short of analysts' expectations and may be lower than a year earlier because of weak fares. Jun 12, 2007 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 has slashed more than 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. 15 billion kronor (USD$2.12 billion) from costs and sold off non-core units in recent years as it has tried to meet stiff competition from low-cost rivals and high fuel costs. But this has not been enough and Chief Executive Mats Jansson this week outlined a plan to cut costs by a further SEK2.8 billion (USD$396 million) by 2011 and boost profits by about SEK4 billion (USD$565 million). The airline made a pretax profit of SEK292 million (USD$41.3 billion) on continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the in 2006. Jun 14, 2007 SAS Scandinavian SAS Scandinavian unveiled plans on Wednesday to lift profits by cutting costs and spinning off units such as Spanish airline Spanair. The airline, half-owned by the governments of Sweden, Denmark and Norway, said it aimed to raise annual pretax profits to about SEK4 billion Swedish kronor (USD$564 million) and cut costs by SEK2.8 billion (USD$395 million) by 2011. SAS, which has said it needs to boost earnings to cope with investment in renewing its passenger jets in the coming years, reported a pretax profit of SEK292 million (USD$41.2 million) in 2006. Jun 13, 2007 SAS Scandinavian, bmi , Lufthansa SAS Scandinavian said it was discussing the future of its 20 percent stake in British carrier bmi with Germany's Lufthansa. Around 12 percent of take-off and landing slots at Britain's crowded Heathrow Airport are held by bmi, which operates around 1,700 flights per week. SAS on Wednesday outlined plans for its future including selling off its holdings in bmi, Air Greenland and its Spanair unit to help it boost profitability. SAS said it was not talking to any other companies about the bmi stake. Lufthansa, which owns 30 percent of bmi minus one share, declined to comment, saying it continued to observe the market. Sir Michael Bishop, chairman and founder of bmi, owns 50 percent of the airline plus one share. Jun 14, 2007 SAS Scandinavian, Spanair SAS To Cut Costs, Sell Units. SAS Scandinavian unveiled plans on Wednesday to lift profits by cutting costs and selling off units such as Spanish airline Spanair, BMI and Air Greenland stakes. Jun 13, 2007 ZZ Editorial eMail: edit@AirGuideOnline.com For Air Transport & Travel Business Experts contact our Director of Content Aram Gesar eMail: bizintel@AirGuideOnline.com For more global news, reviews, features and analysis, please subscribe to our Newsletters: http://www.airguideonline.com/order_formsubs.htm#news To Advertise: advert@AirGuideOnline.com AirGuideFlightTracker is a new service that keeps travelers informed on flight and airport status via the Web. For more go to http://www.airguideonline.com/airline_tracker.htm Copyright [c] 2007 Air Travel Media / Pyramid Media Group. All rights reserved. |
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