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Airline Finance News - Europe.

Oct 30, 2006

Aer Lingus

Aer Lingus Pilots Buy Airline Stake. A group of Aer Lingus pilots has bought nearly 2 percent of the airline at 10 cents per share more than the price being offered by budget airline Ryanair, a stock exchange submission showed on Tuesday. Oct 24, 2006

Air France KLM

Air France KLM flew 17.01 billion RPKs in September, a 5.9% increase from the year-ago month. Capacity was up 6.2% to 20.55 billion ASKs and load factor fell 0.3 point to 82.8%. Oct 23, 2006


Alitalia seeking partner as revenues fall below budget. Alitalia on Friday acknowledged that there are some "major quantitative shifts" in certain key figures put forward in its budget as it reported consolidated revenue of [euro]3.1 billion ($3.91 billion) for the January-August period, [euro]82 million below its target. Oct 23, 2006


Finnair will take a [euro]7 million ($8.8 million) direct hit as the result of last week's flight attendant strike in addition to a [euro]3 million loss in future ticket reservations, the airline said yesterday. It now forecasts an operating profit "clearly below" last year's [euro]81.9 million. "Our goal is to develop our Group structure towards profitability on the basis of the plans we have previously published. In administrative functions we have already implemented changes and last week we announced the outsourcing of our facilities management services. Work on improving Finnair Technical Services efficiency is also ongoing," President and CEO Jukka Hienonen said, adding that the economic effects of the structural change will be seen next year. "The continuation of a strong growth in our Asian traffic requires clearly higher profit levels in the future," he said. Oct 26, 2006


Lufthansa reports falling third-quarter profit, forecasts full-year improvement. Lufthansa Group released its expanded third-quarter and nine-month results yesterday, confirming Wednesday's announcement that it posted a [euro]329 million ($413.7 million) third-quarter profit attributable to shareholders, down 20.9% from the [euro]416 million earned in the year-ago quarter. Oct 27, 2006


Lufthansa profit drops 20% but full-year forecast remains strong. Lufthansa Group today will report third-quarter net earnings of [euro]329 million ($412.8 million), a figure calculated based upon its half-year result and yesterday's announcement that it posted a [euro]414 million profit through the first nine months of 2006. Oct 26, 2006


Lufthansa flew 10.09 billion RPKs in September, a rise of 0.9% over the year-ago month. Capacity increased 0.6% to 12.82 billion ASKs and load factor rose 0.2 point to 78.7%. Traffic grew on European and Asia/Pacific routes but declined on American and Middle East/African routes. Oct 23, 2006

SAS Scandinavian

SAS Avoids Strike After Union Deal. SAS Scandinavian's Danish cabin workers said they had agreed new working terms with the carrier on Monday, averting a strike which would have halted all its flights from Denmark. Oct 23, 2006

Swiss European Air Lines

The situation concerning pilots flying for Swiss European Air Lines, the carrier's Regional subsidiary, remains unclear. The Swiss spokesperson said the two sides are talking about relaunching negotiations. Swiss has had to cancel flights operated by both carriers because of pilot walkouts over the past month. Oct 23, 2006

Swiss International

As a result of its recent resizing, Swiss is now recording black-ink operating results for its Geneva-based network. The company is now building on this foundation, and taking advantage of an increase in the availability of its regional aircraft fleet, to open the new Prague route and raise its Geneva-London City capacity by a further 33%. Oct 25, 2006

Swiss International

Swiss International Air Lines announced that an agreement has been reached with Aeropers, the union of the company's Airbus pilots. Union members have approved the three-year accord, which will enter into effect Nov. 1. Swiss said the deal acknowledged both the airline's ongoing restructuring and the increasingly competitive environment. "We can't give more details about the new agreement, but it will go, of course, to more productivity [from cockpit crews]," a Swiss spokesperson told this website. Oct 23, 2006


Editor: Aram Gesar, eMail:

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Oct 23, 2006
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Publication:Airguide Online
Date:Oct 30, 2006
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