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Airline Finance News - Europe.

For more airline finance news, data and analysis, please go to: http://www.airguideonline.com/professional.htm Jun 26, 2006

British Air Probed for Alleged Price Fix. British and U.S. authorities are investigating alleged price-fixing in passenger fares and fuel surcharges by British Airways PLC and other airlines, the carrier said Thursday, and two senior executives have been placed on leave. Jun 22, 2006

AirBaltic

AirBaltic said it carried 119,389 passengers in May, 32% more than in the year-ago month. Load factor rose 5 points to 56%. Jun 21, 2006

Alitalia

Alitalia flew 3.35 billion RPKs in May, a 2.3% rise over the year-ago month. Capacity fell 1.9% to 4.55 billion ASKs and load factor climbed 3 points to 73.6%. Jun 19, 2006

Austrian Airlines

Austrian Airlines Group flew 1.9 billion RPKs in May, an increase of 3.9% over the year-ago month. Capacity rose 4.3% to 2.7 billion ASKs, dropping load factor 0.3 point to 69.4%. Jun 21, 2006

British Airways

British Airways investigated for 'cartel activity' on fuel surcharges; Virgin, UAL, AA contacted. British Airways is among the targets of a joint investigation by UK and US authorities into "alleged cartel activity," the airline said in a statement issued yesterday.The probe involves BA and "other airlines" and relates to the "pricing of passenger air transportation, including fuel surcharges," the carrier said. BA added that it has "given leave of absence" to Commercial Director Martin George and Head of Communications Iain Burns while the investigation is ongoing. Jun 23, 2006

British Airways

British Airways under investigation for alleged price fixing. British and U.S. regulators are investigating alleged price fixing of passenger fares and fuel surcharges by British Airways and other airlines, according to a statement issued Thursday from British Airways. Jun 22, 2006

British Airways, Skyteam

Skyteam seems to have benefited from the uproar caused by the UK OFT investigation into British Airways with little coverage of its own legal problems. It is being investigated by the European Commission and has 12 weeks to respond. It is looking into collusion between member airlines on routes between the US and the European Union, but did not provide details. When Air France and KLM merged, the commission required the airlines to give up slots at their Paris and Amsterdam hubs in order to increase competition. "SkyTeam carriers will have the opportunity to demonstrate the economic benefits of the alliance and provide a preference on the best way to address the (antitrust) problems identified," the commission said in a statement. http://ec.europa.eu http://www.skyteam.com Jun 24, 2006

Cyprus Airways

Cyprus Airways has sold its charter subsidiary Eurocypria to the government. They are in turn are expected to create a second debt-free scheduled carrier. Created in 1991 Eurocypria took delivery of a fifth 189-seat Boeing 737-800 last week. It flies to some 45 airports all over Europe. Cyprus Airways itself is owned 70% by the state and was approved by the European Commission for a USD$111m of government rescue aid in May 2005. Besides Cyprus the airline also operates out of Crete and Rhodes. http://www.eurocypria.comtop Jun 24, 2006

Iberia

Iberia pilots union SEPLA called a strike for July 10-16 to protest management's plans to launch a low-cost carrier based in Barcelona. Although Iberia is only one of five shareholders in the new venture, its pilots fear the LCC, dubbed Catair, will lead to job losses. Late last month, IB said it will cut loss-making routes from Barcelona (ATWOnline, June 6). On Monday it was forced to cancel several flights at Madrid Barajas owing to a 24-hr. cabin crew strike called by the CTA trade union. Jun 22, 2006

LTU

LTU owner Hans Rudolf Woehrl does not see much likelihood that the troubled leisure airline will achieve a breakeven operating result this year after he was unable to reach agreement with the carrier's unions on wage cuts he proposed. He is seeking to reduce costs by [euro]45 million ($57.3 million), including [euro]15 million in salary cuts. According to Die Welt, Woehrl has not ruled out layoffs as a way to lower costs. Insiders believe that with 2,800 employees, LTU is overstaffed for its size. It carries around 5.6 million passengers a year. Woehrl, who personally holds 76% of the airline and also owns dba, does not believe LTU is on the endangered list. "That situation will not kill LTU," he told Die Welt, adding that his goal is to be profitable in 2007. Jun 19, 2006

TAP Portugal

TAP Portugal official told the Associated Press that the airline no longer is interested in partnering with Air Canada and other investors to bid for Varig if the NVP effort fails. Jun 21, 2006

Virgin Atlantic Airways

Virgin Atlantic of pretax, pre-exceptional profits more than doubled to US$80 / [pounds sterling]41.6m. The airline, 49% owned by Singapore International Airlines, says that the launch of the new Upper Class Suite helped to attract more premium-paying passengers, with a 10.1% increase in business travelers compared with the year before. In 2007 the airline will begin to fly to Mauritius. And if you are a passenger on Virgin in the immediate future you will see happy staff faces too. They are to receive a bonus equivalent to two weeks extra pay. http://www.virgin-atlantic.com Jun 24, 2006

Virgin Atlantic Airways

Virgin Atlantic Airways said it is assisting the UK Office of Fair Trading and the US Dept. of Justice in the inquiry but declined to say whether it also is a target. United Airlines said it is cooperating with the probe but added it has been told by authorities it is not under investigation. American Airlines said it received a federal subpoena related to the probe on June 20 but has "not been informed" that it is being investigated. No other airline confirmed involvement. BA, Virgin, United and American are the four carriers with authority to operate London Heathrow-US flights. Jun 23, 2006
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Publication:Airguide Online
Geographic Code:4EUIT
Date:Jun 26, 2006
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