Airline Finance News - Europe.Aug 27, 2007 Alitalia Alitalia flew 3.75 billion RPKs in July, the same number as the year-ago month. Capacity fell 0.1% to 4.72 billion ASKs, lifting load factor 0.1 point to 79.5%. Aug 24, 2007 Alitalia, Alitalia Express Alitalia Express is an airline based in Rome, Italy and is a wholly owned subsidiary of Alitalia. It operates regional scheduled services and charter flights on behalf of Alitalia. Alitalia's new chairman, Maurizio Prato, is considering selling regional and charter subsidiary Alitalia Express in a separate tender, Finanza e Mercati reported. Air Alps Air Alps (Air Alps Aviation) (IATA: A6, ICAO: LPV, and Callsign: Alpav)[1] is an airline based in Innsbruck, Austria. It is an independent regional airline serving 10 cities in Italy from Milan and Rome, international services from Milan, as well as and ItAli were named as potential buyers. Prato was appointed this month Aug 20, 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. British Airways executives set to be named in US price-fixing case. Ten past and present British Airways executives face a possible US criminal probe in a price-fixing case that has already cost the company [pounds sterling]270m in fines, 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. US court papers. The names of the individuals who have been denied immunity under a deal between the company and US prosecutors are expected to be revealed possibly as soon as today, after the overseeing judge in the case threw out a last-ditch legal bid by eight of the 10 to prevent the Department of Justice from naming them in court. British Airways had previously claimed only a "very limited number" of employees were involved in two separate price-fixing conspiracies, which have spawnedmultiple regulatory probes and two US class-action law suits demanding damages from the company. Aug 23, 2007 British Airways The US Justice Department is giving Britain's largest airline a break, even as it faces one the largest antitrust fines in years. Representatives of British Airways PLC are scheduled to plead guilty Thursday to two counts of conspiracy and face a likely fine of $300 million for colluding with rival Virgin Atlantic over fuel surcharges on international flights. Federal prosecutors, in court documents filed last week, said the fines could have been as high as nearly $900 million if not for the airline's cooperation in the investigation. Earlier this month, authorities in London and Washington announced nearly $550 million in combined fines for the airline as part of parallel trans-Atlantic investigations. Aug 23, 2007 British Airways British Airways flew 10.34 billion RPKs in July, a 2.9% decrease from the year-ago month. Capacity fell 1.1% to 12.73 billion ASKs, dropping load factor 1.5 points to 81.2%. Aug 20, 2007 British Airways, 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 . British Airways, Korean Air each fined $300 million. British Airways and Korean Air both pleaded guilty to antitrust conspiracy charges yesterday, and each was fined $300 million. The carriers admitted colluding with other airlines to set cargo rates and fuel surcharges, which were added to fares to offset rising oil prices. Both airlines agreed to cooperate with the U.S. Justice Department as the investigation continues. Aug 24, 2007 Germanwings Germanwings transported 783,433 passengers in July, up 19.2% on the year-ago month. Load factor dipped 0.3 point to 84.8%. Aug 21, 2007 Lufthansa Lufthansa board member Stefan Lauer said the airline would not rush into any further takeovers that did not make sense for the airline. Spain's Iberia and Italy's Alitalia were both still "interesting". But Iberia remained "overvalued Overvalued A stock whose current price is not justified by the earnings outlook or price/earnings (P/E) ratio and thus, expected to drop in price. Overvaluation may result from an emotional buying spurt, which inflates the market price of the stock or from a deterioration in a ", while the conditions had not been right regarding Alitalia. Private equity group 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 is heading a provisional 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. 3.4 billion takeover bid for Iberia in a team that also includes British Airways. Iberia has said it expects TPG to finish due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. this month. Alitalia meanwhile is struggling to find a buyer after the Italian government's attempt to sell it through an auction failed last month when all the bidders pulled out. Rome wants to shed its 49.9 percent stake. Alitalia said on Tuesday it had been contacted by a new group of interested investors. Aug 23, 2007 Lufthansa Lufthansa chief pilot Jurgen Raps was named executive VP-operations at Lufthansa Passenger Airlines, succeeding Carl Sigel, who will return to the cockpit pending his retirement next year. Aug 23, 2007 Lufthansa Lufthansa is on track to meet its full-year target to boost earnings and sees no impact from the current financial crisis, board member Stefan Lauer told journalists. Lufthansa will achieve its goal of operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. "significantly over EUR1 billion 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. $1.36 billion), Lauer said at an event in Frankfurt late on Wednesday. The airline has said its result will rise to EUR1 billion - EUR1.3 billion this year from EUR845 million last year, partly boosted by the purchase of rival carrier Swiss International. Aug 23, 2007 Lufthansa Lufthansa refutes the idea that its decision to launch new business class is as a result of Virgin Atlantic and British Airways potentially moving into the German market ahead of the Open Skies liberalization lib·er·al·ize v. lib·er·al·ized, lib·er·al·iz·ing, lib·er·al·iz·es v.tr. To make liberal or more liberal: "Our standards of private conduct have been greatly liberalized . . . in 2008. Both Virgin Atlantic and British Airways have said they will launch transatlantic business class only services, although only the former has so far committed to Frankfurt, with the latter saying it will operate into 'European hubs.'. Aug 20, 2007 Malev Hungarian Malev Hungarian at a crossroads. Malev is at a crossroads and according to new 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. Lloyd Paxton, the former Hungarian state airline has arrived "at the moment of truth." The privatised carrier, a long time loss maker, needs to be set on a new path according to Paxton. Paxton joined Malev just six weeks ago from Air Astana, where he is credited for introducing and making very profitable the joint government and BAE Systems owned carrier. Aug 21, 2007 Ryanair Ryanair yesterday confirmed the purchase of a further 4% of Aer Lingus shares, bringing its stake to "over" 29.4%. "These new shares were acquired at or less than [euro]2.45 ($3.30) per share, which lowers the average cost of Ryanair's shares in Aer Lingus," 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. said. Aug 21, 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 Group named Norwegian public relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most executive Claus Sonberg executive VP-corporate communications and investor relations Investor relations The process by which the corporation communicates with its investors. . He will replace Hans Ollongren, who will become an adviser to President and CEO Mats Jansson. Aug 23, 2007 SAS Scandinavian Airlines SAS Group President and CEO Mats Jansson said four local trade unions, in addition to the heads of the unions organizing employees at SAS Ground Services SAS Ground Services is Europe's third largest full-service provider of Airline ground handling and airport related services. SAS Ground services became a limited company in 2004 and are the largest ground handling company in Scandinavia. and SAS Technical Service in Denmark, have promised to "work for a total no-strike situation" in a letter he called "a breakthrough toward a new cooperation model between SAS and our trade union organizations in Denmark." SAS said that as a result of the commitment, "the conditions and the realities have changed" regarding its decision to operate flights between Copenhagen and Stockholm and Oslo with only Swedish and Norwegian crews. It said the schedule among the capitals now will involve "a relatively balanced distribution of production (aircraft and crews) from SAS Sweden, Norway and Denmark." Aug 20, 2007 SAS Scandinavian Airlines The SAS Group four unions--CAU, DPF DPF Digital Photo Frame DPF Diesel Particulate Filter DPF Departamento de Polícia Federal (Federal Police Agency - Brazil) DPF Drug Policy Foundation DPF Duang Prateep Foundation (Thailand) , LFF LFF London Film Festival LFF Libraries for the Future LFF Large Form Factor LFF Louisiana Family Forum (Baton Rouge, Louisiana) LFF London Fashion Forum (UK) LFF Leary Firefighters Foundation and LH--said they were satisfied "that a clear vision for the business has now been presented" and that a "no-strike situation" would be targeted following the signing of several labor agreements this year. Jansson said a "new cooperation model" was a "prerequisite" for implementation of the company's Strategy 2011 plan. He told this website in May that SAS has suffered 73 wildcat strikes in Copenhagen in the past 10 years. Aug 20, 2007 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). Swiss International Air Lines announced that it will increase its stake in Swiss Aviation Training to 100%, buying out the 50% held by GCAT GCAT Government Content Acceptance Testing (Navy ILE content) Flight Academy UK. Former Swiss COO Manfred Brennwald will be CEO of SAT. No financial details were provided. Aug 24, 2007 Swiss International Air Lines Swiss International Air Lines is to acquire its Swiss AviationTraining operation in full. Manfred Brennwald has been named as the unit's new CEO. Swiss AviationTraining (SAT), SWISS's flight and aviation training operation, has been run as a 50/50 joint venture with GCAT Flight Academy UK Limited (GCAT), formerly GE Commercial Aviation Training Limited, since SWISS was established in 2002. SWISS is to acquire GCAT's 50% holding in SAT, making the operation a wholly-owned SWISS subsidiary. The acquisition was triggered by the change of control which occurred when GCAT was acquired by STAR Capital Partners Limited in February 2007. The parties agreed not to divulge the further terms of the transaction. Aug 23, 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 Pyramid Media Group / Air Travel Media. All rights reserved. |
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