Printer Friendly

Airline Finance News - Europe.

Mar 12, 2007

Adria Airways

Adria Airways swung to profit in 2006, posting net earnings of [euro]70,102 ($92,424) compared to a 2005 loss of [euro]9.6 million. The Slovenian flag carrier said it will "continue the project of corporate rehabilitation" in 2007, when it expects a 9% rise in revenue, increased marketing and e-ticket penetration, the launch of several new routes and a fleet upgrade centered on the introduction of two Bombardier CRJ900s. Mar 6, 2007

Adria Airways

Adria Airways VP Marjan Ravnikar credited leveling fuel prices, a reduction in labor costs, more favorable supplier agreements and refinancing of long-term loans for the result. Revenues rose 16.6% to [euro]159.4 million while expenses climbed 9% to an unreleased figure. Operating profit of [euro]847,029 compares to a [euro]3.8 million loss the prior year. Passenger numbers grew 9.6% to 1.02 million as the fleet increased to 13 aircraft from 10. Load factor on scheduled services lifted 3.7 points to 63.5%. Mar 6, 2007

Aer Lingus

Ireland to make air transport deal with U.S. if EU deal collapses In response to Britain's concern over a draft of the EU-U.S. agreement that loosens restrictions on both sides of the Atlantic, Irish Prime Minister Bertie Ahern said today Ireland would seek a bilateral agreement with the U.S. if the EU plan falls through. Unlike other EU member nations, Ireland does not have its own agreement with the U.S., and Ahern expressed concern about Aer Lingus' ability to expand into three U.S. cities this fall. Mar 9, 2007

Air France KLM

Air France KLM flew 14.41 billion RPKs in February, up 3.5% from the year-ago month. Capacity rose 1.9% to 18.28 billion ASKs, lifting load factor 1.2 points to 78.9%. Mar 8, 2007

Austrian Airlines

Restructuring costs Austrian heavily in 2006 The restructuring of its long-haul network, lack of fuel hedges and other "extraordinary effects" created an environment in which "it proved impossible to achieve a positive result," according to Austrian Airlines Group CEO Alfred Oetsch, whose company reported a widened net loss of [euro]49.1 million ($64.5 million) for 2006 compared to a [euro]29.6 million deficit in 2005. Mar 9, 2007

BMED, British Airways, Flybe

BMED will continue to fly for BA until Oct. 28, when it will become part of bmi and operate under the latter's AOC. BA will retain codeshare rights on former BMED routes but remaining ties, including livery and uniforms, will disappear. Bmi said it will roll out a new medium-haul product "combining the best of BMED and the best of bmi." Cockpit and cabin crew will undergo a "gradual phased integration" and BMED's front office functions will be absorbed. Turner said bmi would "be doing everything possible" to minimize the number of redundancies. BMED operates five A321s and three A320s to 17 destinations in 16 countries. Mar 8, 2007

Bmi, British Airways, Flybe

Bmi is reconfiguring and expanding its regional and medium-haul operations following its acquisition of British Airways franchise partner BMED and BA's sale of BA Connect to Flybe, which was finalized Monday. Tuesday bmi unveiled its plans for BMED, in which it acquired a 99% stake last month through a [pounds sterling]30 million ($57.8 million) share subscription. "To achieve this kind of growth without the acquisition and integration of BMED could take years to achieve," bmi CEO Nigel Turner said. Mar 8, 2007

British Airways

British Airways yesterday also released guidance for the fiscal year ending March 31, 2008, saying it is "on track" to achieve a 10% operating margin. It expects a 6.5% margin in the current FY, which it described as "challenging." It projects a 5%-6% year-over-year increase in revenue for FY08; guidance for this year is a 3.25%-3.75% rise over FY06 revenue of [pounds sterling]8.52 billion. An increase of 4%-5% was forecast before the aforementioned disruptions. Expenses are expected to climb approximately 5.1% to [pounds sterling]8.21 billion this fiscal year but then grow just 1.8% in FY08, with both increases largely based on fuel. BA said yield is expected to lift 3.4% in FY08. Mar 8, 2007

British Airways

British Airways shares drop after open-skies agreement British Airways shares fell after the U.S. and EU reached a preliminary open-skies agreement that would open up London Heathrow Airport to new competition. "The deal agreed last week could have deep implications for the airline, when you consider that the majority of British's profits come from routes on the North Atlantic," said Gert Zonneveld of Panmure Gordon, a brokerage firm. The chairman of BA said the agreement favors U.S. interests and that Heathrow could have trouble handling the surge in flights. Mar 6, 2007

British Airways, BA Connect, Flybe

British Airways said at its Investor Day yesterday that the impact of August's terror alert, fog, baggage belt failures at London Heathrow and January's planned cabin crew strike will cost it [pounds sterling]200 million ($385.1 million). CFO Keith Williams also revealed that the sale of BA Connect to Flybe will cost the carrier an additional [pounds sterling]130 million, including [pounds sterling]96 million in cash paid to Flybe. CEO Willie Walsh had said that no money would change hands in the transaction Mar 8, 2007

CSA Czech Airlines

CSA Czech Airlines reported a 2006 net loss of CZK397 million ($18.5 million), lower than the forecast CZK493 million loss and narrowed from a CZK496 million deficit in 2005, the Associated Press reported. CSA expects to return to the black in 2007 with a CZK42 million profit. Separately, the airline said it will lease an A310 to Air India for one year. Mar 9, 2007

Lufthansa

Lufthansa 2006 profit tops $1 billion on record revenue Lufthansa Group, as projected in last month's earnings preview, posted record net income of [euro]803 million ($1.05 billion) for 2006, a 77.3% increase over net income of [euro]453 million in 2005, on a 9.9% lift in revenue to [euro]19.85 billion, its highest-ever annual total. Mar 9, 2007

Silverjet

Silverjet flew 2,911 passengers in February, its first full month of operations . Load factor was 45% excluding passengers on promotional or discounted fares. CEO Lawrence Hunt said the all-business-class airline's forward bookings and cash flow "are substantially ahead of our initial expectations." Mar 7, 2007 03/12/2007

Z

Editor: Aram Gesar, eMail: edit@AirGuideOnline.com For Air Transport & Travel Business Experts contact eMail: bizintel@AirGuideOnline.com

For more global news, reviews, features and analysis, please subscribe to our Newsletters: http://www.airguideonline.com/order_formsubs.htm#news

To Advertise: advert@AirGuideOnline.com

Copyright [c] 2007 Air Travel Media / Pyramid Media Group. All rights reserved.

Mar 5, 2007
COPYRIGHT 2007 Pyramid Media Group, Inc
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Airguide Online
Date:Mar 12, 2007
Words:1148
Previous Article:Airline Finance News - Asia / Pacific.
Next Article:Airline Finance News - Latin America / Caribbean.
Topics:


Related Articles
Airline Finance News - Europe.
Airline Finance News - Europe.
Airline Finance News - Asia / Pacific.
Airline Finance News - Europe.
Airline Finance News - Europe.
Airline Finance News - Europe.
Airline Finance News - Europe.
Airline Finance News - Europe.
Airline Finance News - Europe.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters