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Airline Finance News - Europe.

New York, Geneva (AirGuideBusiness - Airline Finance News Europe) Sep 22, 2013

IATA CEO calls on states to support ICAO resolutions The International Air Transport Association urged states to support International Civil Aviation Organization resolutions during the United Nations agency's 38th Assembly in Montreal. "We will be looking to states to make decisions that will enable the industry to meet its ambitious commitment to stabilizing its emissions from 2020 via carbon-neutral growth," said Tony Tyler, the director general and CEO of the IATA, in a statement. Sep 19, 2013

Air France French airline Air France announced 2,800 fresh job cuts on Wednesday to help cope with weak air travel demand as it heads towards its sixth consecutive annual operating loss. The carrier said it would no longer reach its target to break even this year, but said it was "imperative" to achieve that in 2014. "We are in a period of weak demand," Chief Executive Frederic Gagey told a news conference. "We have felt the full brunt of the cyclicality of air transport." Air France, part of Franco-Dutch group Air France-KLM (AF.PA), said it would begin negotiations with staff representatives from October 4 on new voluntary departure plans to cut an expected staff surplus for next year. Air France has been hurt by the impact of Europe's economic woes on demand for air travel, soaring fuel costs, and aggressive competition from low-cost carriers in the region and Gulf carriers on long-haul routes. Sep 18, 2013

Airbus Airbus China reports order for 100 A320neos. Airbus China said at least 100 A320neos have been ordered from Chinese customers. "Besides this firm commitment for 100 aircraft, we also have an active sales campaign, and several hundreds more Neos are being discussed," said Eric Chen, president of Airbus China. Sep 18, 2013

ANA VINCI has finalised the acquisition of ANA, the company that holds a fifty-year concession for PortugalOs 10 airports. This is the final step in the privatisation process that was launched by the Portuguese government and approved by the European Commission in June 2013. In terms of enterprise value, the transaction is worth U3.08 billion. ANA is a group of airports located on the continent (Lisbon, Porto, Faro and Beja), in the Azores (Ponta Delgada, Horta, Flores and Santa Maria) and in Madeira (Funchal and Porto Santo). Combined, they handled more than 30 million passengers in 2012, of which approximately 80% were international. Passenger traffic has increased at an annual average rate of over 4% for the past 10 years, a momentum that continued with a 3.8% increase in traffic during the first half of 2013 and a very good summer holiday season. Mr Jorge Ponce de Le - o will remain as Chairman of ANAOs Board of Directors, which will comprise incumbent members as well as representatives appointed by VINCI. This transaction is in line with VINCIOs strategy of building and developing, within VINCI Concessions, a leading international player in airport concessions: with this acquisition, VINCI Airports will be managing 23 airports in Portugal, France and Cambodia, which have handled over 40 million passengers in total in 2012, including the 15-million-passenger-plus Lisbon hub. Lisbon offers an important advantage, thanks to its strategic position vis--vis high-growth destinations (Brazil and Portuguese-speaking countries in Africa). Altogether, total revenue generated by these airports in 2012 would have been approximately U600 million, with an EBITDA of around U260 million. Moreover, VINCI Airports holds an 8% stake in the capital of Aroports de Paris since July 2013. Sep 17, 2013

IAG European airlines will have to cut costs at existing short-haul businesses to compete with budget airlines or struggle to stay aloft, IAG boss Willie Walsh said. So-called legacy carriers such as IAG, Lufthansa (LHA.DE) and Air France-KLM (AF.PA) are cutting jobs, renegotiating staff contracts and dropping uncompetitive routes to get costs on a par with budget carriers, such as market leaders Ryanair (RY4B.IR) and easyJet (EZJ.L). They are also replacing older, fuel-thirsty planes and streamlining back-office operations. "We're focused on reducing out cost base and making our short-haul business more efficient ... those that don't will struggle to survive," Walsh said on the sidelines of the World Low Cost Airlines Congress in London on Tuesday. Sep 17, 2013

Lufthansa, Boeing, Airbus Lufthansa orders fuel-efficient planes from both Boeing and Airbus. Lufthansa has placed orders with both Airbus and Boeing for new aircraft. The German carrier will order 34 Boeing 777-9Xs, as well as 25 Airbus SAS A350-900s. "Less fuel consumption, less carbon dioxide emissions and less noise: The aircraft on order will enable us to make a quantum leap in efficiency," said Lufthansa CEO Christoph Franz. Sep 20, 2013

Lufthansa, Boeing, Airbus Deutsche Lufthansa (LHA.DE) signaled its second major aircraft order in six months on Wednesday, saying its supervisory board had backed a long-haul fleet plan that industry watchers expect to benefit Airbus (EAD.PA) and Boeing (BA). The German airline group said it would hold a news conference to outline the multi-billion-dollar investment at 11 a.m. local time (0900 GMT) in Frankfurt on Thursday. Lufthansa is in the middle of a deep revamp that includes 3,500 job cuts, while investing in modern jets to cut its fuel bill and catch up with Middle East rivals particularly on the highly fought over routes between Europe and Asia. On Friday, two people familiar with the matter said Europe's largest airline by revenue was putting the finishing touches to a deal worth well over $10 billion at list prices to be split between the world's top planemakers. The purchase of dozens of aircraft will include the first provisional order for a revamped version of Boeing's most popular big jet, currently code-named 777-9X, the people said. An order for the 406-seat model would be subject to its formal launch, which the U.S. planemaker expects by year-end. It is expected to enter service around the end of the decade. Lufthansa also plans to purchase around 20-25 Airbus A350-900 jets, the European manufacturer's latest model which is due to enter service in the second half of 2014, they said. The combined order could be worth $17 billion at list prices based on estimated values for the 777-9X, whose new wings and engines are expected to command a premium to existing 777s. The deal follows a contest for about 50 aircraft but the final volumes could vary, industry sources said. Sep 18, 2013

Lufthansa, Boeing, Airbus Lufthansa ready for new Boeing, Airbus order . Next week, Lufthansa is expected to order about 50 new jets worth approximately $10 billion from Airbus and Boeing. The order likely will contain Boeing's 777 mini-jumbo, also known as 777-9X, along with some A350-900 models. "We are in intensive negotiations with manufacturers about ordering long-haul jets," a spokesperson for the airline said. Sep 16, 2013

SAS Group The SAS GroupOs parent company, SAS AB, issues an unsecured senior bond on the Nordic capital markets. The bond amounts to MSEK 1,500, pays a fixed coupon of 9.00% and has a tenor of approximately 4 years with a final maturity in November 2017. The bond was significantly over subscribed. SAS intends to list the bond at NASDAQ OMX Stockholm. "We are pleased with having placed SEK 1.5 billion in a bond. This is a further confirmation of the markets increased trust in SAS and our restructuring program 4Excellence Next Generation, that we are implementing at the moment. The bond will be used to refinance outstanding bonds,O says Gran Jansson, Deputy President and CFO for the SAS Group. Nordea Bank and Danske Bank acted as joint bookrunners for the transaction. Sep 19, 2013 AirGuideBusiness ISSN 1939-666X Copyright [c] 2013 AirGuide Business / Pyramid Media Group. All rights reserved. 09/23/2013

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Publication:AirGuide Business
Date:Sep 23, 2013
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