Company Watch - Aer Lingus.For more company news, data and analysis, please go to: http://www.airguideonline.com/professional.htm Sep 4, 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, will report half-year profits of just under [euro]20 million ($25.7 million), up 27% from the [euro]15.5 million earned in the first six months of 2005, 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. Irish press reports. It is forecasting a full-year profit of [euro]92.5 million, an increase of 7.8% from the [euro]85.8 million earned in 2005. It reportedly attributed the first-half growth partly to a 12% increase in passengers on European routes. Sep 1, 2006 Aer Lingus to float in late September. Aer Lingus and the Irish government yesterday formally announced details of their plan to float more than 50% of the government's shares in the airline on the Dublin and London stock exchanges London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. in late September. Net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of the IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. will be used primarily to finance expansion of the carrier's short-haul and long-haul fleets in addition to a one-off pension contribution. The sale is expected to raise [euro]400-[euro]500 million ($509.9-$637.4 million) in fresh equity. The government currently owns 85.1% of the carrier with the remaining 14.9% owned by employees (the Employee Share Ownership Trust holds 12.6%). The government will retain a significant minority shareholding of at least 25.1%, according to the joint statement. The size of the employee trust initally will be reduced when new shares are sold in the flotation but will return to its current level through a profit-sharing scheme. Ordinary share purchases will be subject to a minimum subscription of [euro]10,000. Aug 29, 2006 Aer Lingus's present long-haul nework is rather limited and includes four routes to the US (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 JFK, Boston, Chicago O'Hare and Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. ) and a new route to Dubai. It would benefit dramatically from an EU-US Open Aviation Area and aims to add several new US destinations, among them San Francisco, Philadelphia, Washington Dulles, Dallas/Fort Worth or Houston. Its short-haul network comprises 11 routes from Ireland to the UK. Aug 29, 2006 Aer Lingus intends to order up to 14 long-haul aircraft, with negotiations starting this fall for 787s and A350 XWBs, the Financial Times reported. The airline firmed up an order for two A330s in March 2006. Aug 29, 2006 |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion