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Airline Finance News - Europe.

Dec 18, 2006

Campaigners say that European Union draft proposals to include aviation in its Emissions Trading Scheme after 2011 would only cut predicted traffic growth by a maximum of 2.9 percent by 2020. Dyer said including aviation in the trading scheme, the government's preferred route, would have little effect. Under the current scheme smokestack industries like power plants are given emission quotas. They may sell any surplus allowances but must buy extra if they exceed their limits. Former World Bank chief economist Nicholas Stern said in October urgent action on global warming was crucial and highlighted the pivotal role of this carbon trading. Dec 14, 2006

Aer Lingus, Ryanair

Aer Lingus declined to comment on the letter. Ryanair has said that if the bid fails, which even CEO O'Leary has said is likely, it will remain a long-term shareholder and may return with another offer. Mounting expectations that Ryanair's bid for a stake of at least 50.1 percent will fail means shares in Aer Lingus have traded at below the offer price for more than a month -- although Ryanair said that also reflected investors' low expectations of how an independent Aer Lingus would perform. A circular from Aer Lingus earlier this month lacked concrete proposals on how current management planned to lower fairs and costs or generate significant growth, he added. Dec 15, 2006

Aer Lingus, Ryanair

Aer Lingus said on December 1, in response to a request for details from Ireland's Takeover Panel, it planned to boost revenues and cut costs significantly next year. While it identified areas where overheads could be reduced, it did not specify how or whether there would be any job cuts. Dec 15, 2006

Air France KLM

Air France KLM flew 15.54 billion RPKs in November, a 4.1% increase over the year-ago month. Capacity rose 4.2% to 19.8 billion ASKs and load factor dropped 0.1 point to 78.5%. Dec 17, 2006

Air Madrid

Air Madrid said the ministry caused the crisis, explaining that ticket sales had fallen dramatically since the government's warning on Tuesday that it could lose its license and suppliers had since refused the airline credit. The situation was now a legal matter in which the state should be held responsible, the airline said. The Spanish media has been full of stories in recent months, including accounts of Air Madrid passengers delayed for 60 hours, others storming a runway after a two day delay and even some sleeping on board a plane grounded at Valencia when it was supposed to fly from Menorca to the nearby island of Mallorca. Dec 15, 2006

Air Madrid

Spain Says Air Madrid Must Pay To Rescue Passengers. Air Madrid, the privately owned airline that suspended all flights on Friday, acted irresponsibly and must meet the cost of rescuing 120,000 stranded passengers, Spain's development minister said on Sunday. The government, which has stepped in to charter aircraft and find seats with other airlines to take Air Madrid's passengers, said it was seeking EUR6.5 million (USD$8.5 million) in costs from the airline. After suspending its operations on Friday without warning, the airline also failed to cooperate with the government by providing information on passengers waiting to fly, she said. The Spanish development ministry said on Saturday it was withdrawing Air Madrid's license. It had kept a close watch since May on the airline, which had become infamous for its two day delays and constant technical problems. Inspectors grounded five of Air Madrid's seven planes on seven different occasions for failing to meet safety standards, the minister said, stressing that no planes had been allowed to fly while unsafe. Many of the passengers left stranded by the airline are Latin Americans or Romanians working in Spain. Dec 15, 2006

Alitalia

Alitalia was hit by a 24-hr. strike Friday that forced the cancellation of hundreds of flights, including many scheduled for Saturday, the airline said. Press reports said workers were protesting the carrier's pending privatization. Dec 18, 2006

British Airways

British Airways flew 8.76 billion RPKs in November, down 0.8% from the year-ago month. Capacity rose 0.7% to 12.15 billion ASKs, dropping load factor 1 point to 72.2%. Dec 14, 2006

British Airways, WestJet

British Airways CEO Willie Walsh and other executives were scheduled to meet WestJet senior management in Calgary this week, but Walsh cautioned that it was merely a "courtesy call". Walsh said he believed the current round of consolidation among the world's airlines is good for the industry as there is still too much capacity for demand. Dec 14, 2006

British Airways, WestJet

British Airways CEO Would Welcome Westjet Alliance. British Airways would welcome an alliance with low-cost Canadian carrier WestJet Airlines now that it has increased service between London Heathrow and Canada, its chief executive said on Thursday. Dec 14, 2006

Condor Berlin, Condor Airlines

Condor Berlin, a Condor Airlines subsidiary, was hit yesterday morning by a 4-hr. wildcat strike organized by the ver.di union. Five flights were affected. The union and Condor management have restarted talks that were suspended in February 2005. The carrier wants its 240 cabin staff to transfer to a flight-hour system from a daily work schedule. Dec 15, 2006

Lufthansa

Lufthansa flew 8.77 billion RPKs in November, up 6.6% from the year-ago month. Capacity climbed 4.3% to 11.77 billion ASKs, lifting load factor 1.5 points to 74.5%. Dec 17, 2006

Lufthansa

Lufthansa November Traffic Up 6.6 Percent. Lufthansa said November passenger traffic increased 6.6 percent, boosted by growth in all regions. Dec 11, 2006

Lufthansa, Turkish Airlines

Lufthansa and Turkish Airlines yesterday inked a bilateral cooperation agreement that will include codesharing and similar flight schedules. The accord was signed in Istanbul by Lufthansa Chairman and CEO Wolfgang Mayrhuber and Turkish Chairman Candan Karlitekin. THY officially became the newest member of the Star Alliance over the weekend. Beginning March 25, LH and THY will operate selected flights between the two countries on a codeshare basis and "harmonize" schedules. "For passengers, this will mean more frequencies, a wider choice of destinations and better connections at Lufthansa's Frankfurt and Munich hubs, as well as at Istanbul," LH said in a statement. Participants in each airline's frequent-flier program will be able to collect miles on either's network and to redeem them with the partner carrier. Dec 12, 2006

SAS

SAS Group airlines flew 3.02 billion RPKs in November, a 3.3% increase over the year-ago month. ASKs rose 5.4% to 4.54 billion, dropping load factor 1.4 points to 66.4%. SAS Scandinavian Airlines flew 2.16 billion RPKs, down 2.4%, against a 1.5% decline in ASKs to 3.07 billion. Load factor dipped 0.6 point to 70.5%. Dec 17, 2006

Skyguide

Skyguide Agrees 2002 Air Crash Payout. Swiss air traffic control company Skyguide has agreed the compensation it will pay to relatives of 30 people who died in a 2002 mid-air plane collision close to the Swiss-German border, a lawyer for the firm said on Monday. Lawyer Alexander von Ziegler declined to give details on amounts to be paid to the relatives and said Skyguide had already agreed compensation with the families of the 41 other people who died in the same crash. But when asked if Skyguide had agreed compensation for the final 30 families, Ziegler said: "Yes. The families' lawyers can now take a look and decide if they want to appeal (the amounts) in the Swiss courts." Dec 15, 2006

Skyguide

Skyguide, which was operating the airspace over southern Germany, has admitted errors in the incident. On July 1, 2002, Skyguide was operating with a single air traffic controller who told the pilot of a Bashkirian Airlines Tupolev 154 to descend to avoid a collision, even though early-warning instruments aboard the place had told the pilots to climb. The automatic anti-collision system on a DHL Boeing 757 also instructed its pilots to descend to the same level and the Boeing's tail fin sliced open the Russian jet. The 69 people on board the Russian Tupolev passenger jet, most of them children, as well as two pilots on the Boeing 757 operated by the courier company DHL died in the crash. Dec 15, 2006

TUI

TUI to merge airlines, buy 41 aircraft, cut 3,600 jobs. TUI said regarding its cost-cutting program, savings of [euro]150 million will come from materials and [euro]100 million from personnel, meaning the loss of 3,600 jobs in the tourism division including 2,600 in the UK and 400 in Germany. It said more than 3,300 new jobs will be created "by certain segments" in 2008. It also intends to reduce corporate costs to [euro]70-[euro]80 million from [euro]112 million by 2008 and merge its TUI Deutschland operating business into TUI AG. It is targeting a 2008 profit of [euro]450-[euro]550 million. Dec 18, 2006

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Dec 11, 2006
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