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Airline Finance News - Europe.

Mar 26, 2007

Alitalia

Alitalia flew 2.67 billion RPKs in February, up 4.8% from the year-ago month. Capacity rose 0.4% to 3.91 billion ASKs, lifting load factor 2.9 points to 68.3%. Mar 20, 2007

British Airways

Airlines applaud open skies approval; European carriers push for further liberalization US and European airlines largely hailed EU transport ministers' approval of the open skies agreement yesterday, though British Airways and Virgin Atlantic Airways led a chorus on the European side cautioning that the deal is just a "first step" toward creation of a truly open transatlantic air market by 2010. Mar 23, 2007

British Airways

British Airways prepares for passage of open skies British Airways has criticized a proposed open skies agreement, saying it doesn't go far enough to open the U.S. market. However, the airline is taking steps that will help it retain customers after the agreement is adopted. It is revamping its business class on long-haul flights and developing a new promotional campaign. Mar 21, 2007

Corsair, Thomsonfly

TUI AG, parent of Hapagfly, Hapag-Lloyd Express, Thomsonfly, TUIfly Nordic, Arkefly, Corsair and Jetair, suffered a [euro]846.6 million ($1.13 billion) loss in 2006, reversed from a [euro]496.3 million profit the year before, owing to restructuring expenses and required depreciations. The company unveiled a restructuring plan in December that includes the merger of its airline brands under the TUIfly.com name. Revenue rose 12.7% to [euro]20.51 billion and operating result fell to a [euro]736.1 million loss from a [euro]386.9 million profit. Total costs were not provided, but a breakdown showed the company's impairment charges rose to [euro]763.8 million from [euro]18.3 million in 2005. EBITA in TUI's Tourism division climbed 7.8% to [euro]393.7 million. Mar 21, 2007

Finnair

Finnair flew 1.57 billion RPKs in February, up 11.1% from the year-ago month. Capacity climbed 9% to 2.06 billion ASKs and load factor was up 1.4 points to 76.1%. Mar 23, 2007

Iberia

Iberia reached a labor agreement with its 4,200 flight attendants that will include the conversion of 260 temporary contracts into permanent positions, pay raises linked to company performance, a lump payment of more than [euro]7 million ($9.3 million) and "a number of employee benefits," according to IB. The deal is effective through Dec. 31. Mar 19, 2007

Lufthansa

Lufthansa Chairman and CEO Wolfgang Mayrhuber said last week in Washington that the tentative open skies accord reached by the US and EU is "just a first step" and that the industry must strive for more freedom both in the transatlantic market and globally. EU-US open skies "should be a blueprint" for the global industry and a long-term accord should significantly expand the business flexibility of carriers, he said. "We need the freedom to run our business like any other business, which means we need to have the freedom to merge across borders," he told the US FAA Aviation Forecast Conference. "Do we have the guts, the muscle, the vision to take the next steps?" Mar 20, 2007

SAS Scandinavian Airlines

SAS Scandinavian Airlines was hit by a 4-hr. wildcat strike by approximately 1,600 flight attendants in Copenhagen yesterday that resulted in several cancellations. SAS expected operations at CPH to return to normal by late yesterday, according to press reports. Mar 22, 2007

SAS Scandinavian Airlines

SAS Group airlines flew 2.6 billion RPKs in February, down 0.1% from the year-ago month. Capacity rose 0.9% to 3.97 billion ASKs and load factor dropped 0.6 point to 65.5%. SAS Scandinavian Airlines flew 1.79 billion RPKs, down 6.3%, against a 5.1% fall in ASKs to 2.63 billion, dropping load factor 0.8 point to 68%. Mar 21, 2007

Swiss International Air Lines

Swiss International Air Lines said that MD and Head of Sales and Marketing-Intercontinental Markets Marcel Biedermann will head the carrier's North and South American management operations. Mar 20, 2007

TUI, First Choice

TUI and First Choice merge Mega tour-operators have joined forces in a deal that will create a company with revenue of [pounds sterling]12.1bn and serve 27m passengers per year. Mar 19, 2007

Z

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Mar 19, 2007
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Date:Mar 26, 2007
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