Company Watch - Air France KLM.Nov 27, 2006 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) fuel charges rose 29 percent in the quarter to 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. 1.17 billion (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. $1.5 billion), while commercial and distribution costs distribution costs distribute npl → Vertriebskosten pl fell 6.9 percent and widely watched staff costs rose 6.7 percent. Nov 23, 2006 Air France KLM on Thursday reported second quarter operating earnings Operating Earnings Profits after subtracting expenses such as marketing, cost of goods sold, administration and general operating costs from revenue. Notes: Tax and interest expenses are not subtracted - operating earnings are synonymous with EBIT (earnings before up 7.8 percent to EUR568 million (USD$735 million) and increased its merger synergy targets as it remained confident on full-year earnings. The gap came as a 19 percent increase in passenger 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. to EUR505 million (USD$653.5 million) met headwinds from a EUR6 million (USD$7.7 million) loss in cargo operations, triggered by price pressure in Asia. Several analysts had expressed hopes Air France KLM would provide specific outlook figures given the importance of the second quarter, which includes the northern hemisphere summer. Nov 23, 2006 Air France KLM said on Thursday it was in exploratory tie-up talks with Alitalia at the request of the Italian airline. Air France KLM Chief Executive Jean-Cyril Spinetta told a press conference the French and Italian airlines had always targeted a merger in the long-term. However, he said there was no change in his airline's position on Alitalia. It has repeatedly said Alitalia must be privatized and turned around financially before a merger. Italian Prime Minister Romano Prodi challenged Air France KLM in a newspaper interview, published on Thursday, to clarify its position on a merger. Nov 23, 2006 Air France KLM said unit revenue per "equivalent available seat kilometre," a profitability measure which combines passenger and cargo operations, rose 3.6 percent as group revenues rose 8.8 percent to EUR6.13 billion (USD$7.93 billion). Nov 23, 2006 Air France KLM, the world's largest airline by revenues, also posted a sharp drop in net profit for the three months to end-September to EUR374 million (USD$484 million), but this was expected because of a large capital gain a year earlier on the sale of a reservations system stake. Nov 23, 2006 Air France KLM's Spinetta said that the airline had always supported the idea of an eventual merger and was discussing with the Italian airline how soon its turnaround plans would bring it back to breakeven breakeven 1. The level of output or sales necessary to cover fixed expenses. Companies in industries that have high fixed costs and, consequently, high breakevens, such as automobile and steel manufacturing, are likely to exhibit large fluctuations , whether they shared the same vision and what synergies could be created. Spinetta's comments sent Air France KLM shares down more than 6 percent. Air France KLM on Thursday posted a higher second-quarter profit and lifted its synergy targets. Nov 23, 2006 Air France KLM's yield, the underlying amount it makes from each passenger, rose 4.7 percent as it adopted a firmer price policy to ease its high load factor, executives said. Unit costs per available seat kilometre fell 1.1 percent. An aviation consultant to the Italian government suggested on Tuesday Italy should purchase aircraft worth EUR4.5 billion (USD$5.8 billion) from France-based Airbus to convince Air France KLM to buy a sizeable stake of struggling Alitalia. Economist Alfredo Roma, a former head of Italy's aviation authority, also said saving Alitalia would be "one of the main subjects" at a meeting between Italian Prime Minister Romano Prodi and French President Jacques Chirac starting with dinner in the Italian town of Lucca later on Thursday. Nov 23, 2006 Air France KLM close to launching new leisure carrier. Air France KLM Group expects to decide on Wednesday whether it will launch a new carrier focusing on the medium-haul leisure market. Nov 20, 2006 Air France KLM's startup would be modeled on its Amsterdam-based transavia.com subsidiary, which offers a mixture of charter and scheduled low-fare flights, and would be based at Paris Orly South. It would operate a fleet of 186-seat 737-800s to a selection of popular tourist destinations A tourist destination is a city, town or other area the economy of which is dependent to a significant extent on the revenues accruing from tourism. It may contain one or more tourist attractions or visitor attractions and possibly some "tourist traps". such as Morocco, Tunisia and Spain. "This initiative will meet with the demand for scheduled flights to leisure destinations not presently served by Air France," the carrier said in a statement, noting that the initiative "would fit in very well with the growth strategy of transavia.com, which has for some time been planning to operate from additional bases outside the Netherlands." In addition to Air France Soleil flights, as the project has been dubbed dub 1 tr.v. dubbed, dub·bing, dubs 1. To tap lightly on the shoulder by way of conferring knighthood. 2. To honor with a new title or description. 3. , transavia.com would commence charter operations from ORY ORY Paris, France - Orly (Airport Code) ORY Ohio Railway Museum . Transavia.com denied press speculation that part of its fleet would be transferred to the new company. Nov 20, 2006 The creation of a hybrid low-fare/charter airline by Air France KLM is rather surprising considering management's longstanding resistance to the idea of an in-house 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. to compete with Ryanair and easyJet. AF quit the charter segment in 1997 when it closed Air Charter. Nov 20, 2006 France is apparently reluctant to commit itself on a foray into Verb 1. foray into - enter someone else's territory and take spoils; "The pirates raided the coastal villages regularly" raid encroach upon, intrude on, obtrude upon, invade - to intrude upon, infringe, encroach on, violate; "This new colleague invades my the Italian market, expectations of a breakthrough faded on Thursday when Prodi told a French newspaper he had many doubts about a possible tie-up between the carriers. Air France KLM is seen anxious to calm any immediate merger talk resulting from the Franco-Italian summit until Alitalia's future becomes more certain. It has repeatedly said Alitalia must be privatized and restored to financial health before their small cross-shareholdings can be expanded into a full merger. Nov 23, 2006 Air France KLM's new airline would be a jointly owned subsidiary of Air France (60%) and transavia.com (40%). It would be registered in France and personnel would have a working contract under French labor law labor law, legislation dealing with human beings in their capacity as workers or wage earners. The Industrial Revolution, by introducing the machine and factory production, greatly expanded the class of workers dependent on wages as their source of income. . Flights would be sold via tour operators and directly on a seat-only basis to customers in France and the destinations served. Direct sales would be undertaken via the transavia.com website and its call center. Commencement of operations is planned for spring 2007. Nov 20, 2006 Transavia, launched in 1965 and which and has reported a profit for 28 consecutive years, has experimented with several models. In 2005 it merged its basiqair.com brand for low-fare flights and Transavia for charter flights into transavia.com. It is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of KLM and operates 31 737NGs. In 2005-06 it posted a net operating result of [euro]32 million ($41 million) on revenues of [euro]468 million. Nov 20, 2006 Editor: Aram Gesar, eMail: edit@AirGuideOnline.com For more global news, reviews, features and analysis, please go to: http://www.airguideonline.com/onlinenews.htm To 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 Nov 13, 2006 |
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