Airline Finance News - Europe.Aug 20, 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, A strike by pilots at Irish airline Aer Lingus looks set to go ahead next week, causing chaos for travellers during the peak holiday season for the carrier. Pilots with the IMPACT Trade Union say the carrier will employ staff on less favourable pay and conditions than in Dublin. They will strike on Tuesday and Wednesday if Aer Lingus does not stand down from its move to offer lower terms for Belfast pilots.An airline spokeswoman said on Friday: "Aer Lingus has continued to say they will consider engaging with IMPACT if the threat of strike action is lifted. That has not happened." Aug 17, 2007 Aer Lingus Aer Lingus said it had secured a number of leased aircraft to provide a limited service for around 8,000 passengers out of an expected 45,000 to 50,000 travellers at a peak time of year. The company has been battling with unions to cut overheads since its privatization privatization: see nationalization. privatization Transfer of government services or assets to the private sector. State-owned assets may be sold to private owners, or statutory restrictions on competition between privately and publicly owned last year. Aer Lingus Chief Executive Dermot Mannion Dermot Mannion is the Chief executive officer of Aer Lingus, Ireland's national airline. Mannion was born in 1958 in Sligo, County Sligo, Ireland, one of eight children (four brothers and three sisters). He attended school at St. travelled on Friday to Shannon to meet local leaders to discuss the airline's decision. Despite protests, the government, which controls just over a 25 percent stake in Aer Lingus said it would not intervene. Aug 17, 2007 Aer Lingus Last week Aer Lingus launched its first base outside the Republic of Ireland, at Belfast in Northern Ireland Northern Ireland: see Ireland, Northern. Northern Ireland Part of the United Kingdom of Great Britain and Northern Ireland occupying the northeastern portion of the island of Ireland. Area: 5,461 sq mi (14,144 sq km). Population (2001): 1,685,267. , in a bid to boost growth prospects for the former state airline. Analysts welcomed the decision to open the Belfast base, although this has angered staff and businesses in Shannon in Ireland, which will lose valuable slots for flights to London Heathrow. Aug 17, 2007 Aer Lingus The Irish Times reported on Friday that Europe's biggest low-cost carrier A low-cost carrier or low-cost airline (also known as a no-frills or discount carrier / airline) is an airline that offers generally low fares in exchange for eliminating many traditional passenger services. Ryanair had increased its stake in Aer Lingus to 28 percent from 25 percent, spending 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. 37.6 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. $50.67 million). A Ryanair spokeswoman said it did not comment on "any market speculation". The Irish Times, not citing any sources, said Ryanair had bought 16 million shares at 2.35 euros each on Thursday from an unnamed seller. Aug 17, 2007 Aer Lingus Aer Lingus pilots will strike for two days next week over company plans for a new hub in Belfast. "The IMPACT Trade Union has given formal notice to Aer Lingus that Aer Lingus pilots will engage in a 48 hour work stoppage beginning at 00.01 hours on Tuesday August 21 2007," the airline said in a statement on Tuesday. It said the union planned further work stoppages on dates to be advised. Last week Aer Lingus launched its first base outside the Republic of Ireland, at Belfast in Northern Ireland, in a bid to boost growth prospects for the former state airline. The plan, which involves the transfer of valuable Heathrow slots from Shannon Airport Shannon Airport (IATA: SNN, ICAO: EINN), or Aerfort na Sionna in Irish is an airport in Ireland. Approx 3.7 million passengers travelled through Shannon in 2006, making it the second busiest in Ireland by passenger movements. in Ireland, has provoked anger among staff and businesses in the region. Aug 14, 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 Earlier this week, Air France announced Jean-Claude Cros as the new vice president and general manager for Air France. Like his predecessor, Marie-Joseph Mal, Cros will be based in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . This is a promotion for Cros, as he has spent more than 15 years with the airline in a variety of positions. As vice president and general manager for the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Cros will oversee the carrier's largest division outside of France, leading 800 employees. His responsibilities include operations, sales and marketing and communications, among other duties Aug 17, 2007 Alitalia Consortium consisting mainly of Italian financial groups and entrepreneurs has emerged as a possible bidder for Alitalia, Reuters reported. The new group has more than five Italian and foreign members representing both financial and corporate interests, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. an attorney representing it who declined to identify members. Apparently none participated in the recently failed auction set up by the government. The attorney said the consortium presented its interest to the Treasury but not to AZ. The government still wants to sell its 49.9% stake in the carrier but has transferred responsibility for locating a buyer to AZ management. Meanwhile, Alitalia's newly appointed Chairman Maurizio Prato indicated that 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) is negotiating to increase its shareholding to 10% from 2%, La Stampa La Stampa (literally “The Press”) is one of the best-known and most widely sold Italian daily newspapers. Published in Turin, it is distributed in Italy and other European nations. The current owner is the Fiat Group. reported. Aug 14, 2007 Alitalia Italian led group's emergence on the scene failed to prevent shares in Alitalia, worth about USD$1.5 billion on the market, from dipping 0.7 percent amid a broadly lower market. The group has presented its interest to the Italian Treasury, but has yet to do so directly with the airline, he said. It does not plan to cut jobs and would keep Alitalia's management Italian and widen its flight network, he said. That contrasts with the view of most industry analysts and experts, who say Alitalia needs a sharp restructuring with layoffs if it is to become profitable again. Aug 13, 2007 Alitalia Italian-Led Group Wants To Buy Alitalia. A largely Italian consortium of financiers and entrepreneurs has expressed interest in buying ailing Italian airline Alitalia, which is struggling to find a buyer, the group's lawyer said on Friday. The previously unknown group joins a handful of companies who say they could consider buying the loss-making airline, though the Italian government's attempt to sell it through an auction failed last month when all bidders pulled out. Aug 13, 2007 Alitalia Italy last month called off its seven month auction of the national airline after bidders pulled out citing restrictive conditions imposed on the sale, throwing the future of the airline into doubt. Alitalia's newly appointed chairman Maurizio Prato is expected to meet representatives of rival airlines Lufthansa and Air France-KLM Air France-KLM (Euronext Paris: AF, NYSE: AKH) is an airline company incorporated under French law with its headquarters at Roissy-Charles de Gaulle Airport near Paris, France. in coming days to discuss whether they are interested in buying the airline, Italian media say. Air France-KLM, once considered the Italian carrier's most likely buyer, has repeatedly denied any interest in rescuing it now but said it would listen if approached. Lufthansa said last month it would be prepared to look at Alitalia if the conditions of a sale changed. All the final contenders in the failed auction -- Russian airline Aeroflot, US private equity firms MatlinPatterson and 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 and smaller Italian carrier Air One -- say they would be interested again if Italy relaxed the terms of the sale. Aug 13, 2007 Alitalia Rome, which has a 49.9 percent stake in Alitalia, says it still wants to shed the stake but has handed responsibility for finding a buyer to Alitalia's management -- and it is unclear who, if anyone, is in the lead to buy it this time around. The new group has more than five Italian and foreign members that represent both financial and corporate interests, said its lawyer Antonio Baldassarre, a former chairman of Italy's constitutional court. He declined to identify the members, but said none of them had participated in the auction that collapsed. Aug 13, 2007 Austrian Airlines Austrian Airlines AG is the flag carrier airline of Austria, headquartered in Vienna. It operates scheduled sevices to over 130 destinations. Its main base is Vienna International Airport, with a hub at Innsbruck Airport.[1] In 2006 Austrian had 10 million passengers. Austrian Airlines Group CCO (Chief or Corporate Compliance Officer) The executive person in charge of compliance issues, regulatory requirements, internal controls and managing audits within an enterprise or organization. Josef Burger will resign effective Sept. 30 after six years in the role, the company announced. 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 assumed Burger's duties last week on an interim basis. Burger cited "irreconcilable and different opinions concerning the way of cooperation within the Management Board" for his decision. Aug 13, 2007 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. US DoJ Probes Airline Price-Fixing Fuel surcharge price-fixing judgments against British Airways and Korean Air  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . this month are part of a wider ongoing U.S. Department of Justice probe into airline antitrust activities. A spokesperson last week said the investigation goes "beyond simply fuel surcharges," but would not disclose other carriers DOJ is investigating. Aug 13, 2007 Clickair Clickair, the Spanish low cost operator funded by five equal investors, including Iberia, is on line to carry 3m plus passengers in the first year. The airline made its maiden flight Noun 1. maiden flight - the first flight of its kind; "the Stealth bomber made its maiden flight in 1989" flying, flight - an instance of traveling by air; "flying was still an exciting adventure for him" on the 1 October 2006. Aug 14, 2007 CSA (1) (Canadian Standards Association, Toronto, Ontario, www.csa.ca) A standards-defining organization founded in 1919. It is involved in many industries, including electronics, communications and information technology. Czech Airlines CSA Czech Airlines (in Czech: České aerolinie (abbreviation: ČSA)) is the Czech national airline company, and former national carrier of Czechoslovakia based at Ruzyně International Airport, Prague. CSA Czech Airlines announced that Vice Chairman and VP-Information Technology Jiri Devat was appointed to the SITA board. He will represent the members from Central and Eastern Europe The term "Central and Eastern Europe" came into wide spread use, replacing "Eastern bloc", to describe former Communist countries in Europe, after the collapse of the Iron Curtain in 1989/90. . Aug 16, 2007 Iberia Iberia flew 4.97 billion RPKs in July, a 7.1% increase from the year-ago month. Capacity climbed 3.1% to 5.76 billion ASKs and load factor rose 3.2 points to 86.3%. Aug 14, 2007 Lufthansa Lufthansa flew 11.03 billion RPKs in July, up 5.7% on the year-ago month, against a 3.6% increase in ASKs to 13.71 billion. Load factor was up 1.6 points to 80.4%. Aug 14, 2007 Lufthansa Lufthansa said July passenger traffic rose 5.7 percent from the year-earlier month, boosted by European, domestic and Americas routes. The passenger load factor rose 1.6 percentage points to 80.4 percent last month, Lufthansa said on Thursday. The amount of cargo and post carried in July rose 3.1 percent to 153,000 tonnes. Aug 13, 2007 Ryanair Ryanair sees room to open two more bases in Spain by around 2010 and will double passengers there, the airline said on Thursday, a week after announcing its presence in the country would double to four hubs. The airline's director of marketing and sales in Spain. Maribel Rodriguez, told journalists Ryanair would fly six new routes from Madrid in October, traveling to Santander and Girona in northern Spain, Alguero and Cagliari in Italy, as well as Frankfurt and Liverpool. She added that Ryanair saw plenty of space to expand passenger numbers and routes further from the Spanish capital, after it opened a hub there in November last year. Aug 17, 2007 Ryanair Ryanair has delivered a robust response to Aer Lingus[sup.1] decision to transfer its Heathrow slots from Shannon to Belfast. The low cost carrier says it will add a further three daily flights from Shannon to Stansted, Gatwick and Luton - although it notes it will suspend these should Aer Lingus change its mind. Aug 15, 2007 Ryanair, Aer Lingus Ryanair calls for Aer Lingus EGM EGM Electronic Gaming Machine EGM Electronic Gaming Monthly EGM Extraordinary General Meeting EGM Expert Group Meeting EGM Estudio General de Medios (Spanish: General Means Study) EGM Emergency General Meeting , offers to replace Aer Lingus London flights. Ryanair also said it had yesterday written to Aer Lingus requesting that an EGM be called, 'to allow Aer Lingus shareholders the opportunity to exercise their statutory right to consider requesting the Board and Management of Aer Lingus to reverse the Shannon closure decision and maintain Aer Lingus's 4 daily flights between Shannon and Heathrow. Aug 14, 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 Airlines SAS Scandinavian Airlines is half-owned by the governments of Sweden, Denmark and Norway, launched its latest turnaround plan in June. It will focus on core businesses in northern Europe and aims to boost pretax profit to around 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. 4 billion Swedish kronor (USD$575 million) annually by 2011 from SEK292 million in 2006. In a statement, the four Danish unions acknowledged that strikes undermined customer confidence in SAS and were damaging for the business. The unions said they were convinced that with cooperation they and SAS could "move toward" a time when SAS would not be hit by strikes. Aug 17, 2007 SAS Scandinavian Airlines SAS Scandinavian Airlines said it would reverse a decision that SAS traffic between Copenhagen and Oslo and between Copenhagen and Stockholm would be staffed solely with Norwegian and Swedish crews. It took this decision earlier this year in response to a three day strike by Danish cabin crews in April. Aug 17, 2007 SAS Scandinavian Airlines SAS Scandinavian Airlines said on Friday it had buried the hatchet hatchet: see tomahawk. with its Danish unions and that four organizations had pledged to work for a "no-strike situation" after 2007 wage negotiations. The carrier, hard hit by fierce competition from low-cost carriers and higher fuel costs in recent years, has had hundreds of flights grounded this year at a cost of millions of dollars due to strikes at its Danish and Swedish units. Aug 17, 2007 SAS Scandinavian Airlines, airBaltic Latvia Waits For SAS Proposal On AirBaltic. Latvia's transport ministry is waiting for a proposal from SAS Scandinavian Airlines over talks to increase a stake in airBaltic, a ministry official said on Tuesday. The comment was in response to a question about a report that quoted the transport minister as saying negotiations were likely to resume in the autumn. Latvian Transport Minister Ainars Slesers was quoted in an interview with news agency BNS Noun 1. BNS - a bachelor's degree in naval science Bachelor of Naval Science bachelor's degree, baccalaureate - an academic degree conferred on someone who has successfully completed undergraduate studies as saying: "SAS has shown interest (in raising its stake in airBaltic). I think, the talks will be resumed this fall." An SAS official said on Tuesday the firm was ready to talk with the Latvian government about increasing its stake, though it was difficult to say if or when this might happen. Aug 15, 2007 Virgin Atlantic Virgin Atlantic reported this week that its profit for its fiscal year ended Feb. 28 dropped 89% to [pounds sterling]6.6 million ($13.2 million) from [pounds sterling]60.3 million in the prior year. It blamed much of the fall on losses at Virgin Nigeria, in which it has a 49% stake. The African carrier posted a loss of [pounds sterling]40 million for the year, widened from [pounds sterling]33 million in the prior year. VA's revenue increased 15% to [pounds sterling]2.2 billion. "Our profits would have been higher had it not been for the frustrating external issues many airlines have had to cope with, such as increased oil prices," parent Virgin Group Chairman Richard Branson Sir Richard Charles Nicholas Branson (born 18 July 1950 in Shamley Green, Surrey, England), is a British entrepreneur, best known for his Virgin brand of over 360 said. Aug 17, 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 Verb 1. subscribe to - receive or obtain regularly; "We take the Times every day" subscribe, take buy, purchase - obtain by purchase; acquire by means of a financial transaction; "The family purchased a new car"; "The conglomerate acquired a new company"; 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 Pyramid Media Group / Air Travel Media. All rights reserved. |
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