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French engine manufacturer, Snecma, is on track for a solid performance in 2010, thanks to the performance of its international joint ventures. Snecma CEO, Philippe Petitcolin, stated yesterday that CFM International is on target to deliver 1,200 engines this year, roughly matching the 1,263 delivered...
Listed airport stocks were mixed yesterday, exemplified by Italian airport operator Aeroporti di Venezia dropping 3.9% and rival Aeroporto Toscano gaining 1.6%.
The Russian Government has, according to reports, confirmed plans to privatise 14 airports including Nizhny Novgorod, Samara, Ekaterinburg Koltsovo and Novosibirsk Tolmachevo, as part of a wider privatisation programme. If accurate, this development is a natural extension of recent privatisation activity...
Boeing, General Electric, Pratt & Whitney, Honeywell and Rolls-Royce North America have all received contracts from the US Federal Aviation Administration, as part of its Continuous Lower Energy, Emissions and Noise (CLEEN) programme.
Dart Group shares gained 3.7% on 24-Jun-2010 upon the release of the company’s financial results for the 12 months ended Mar-2010. Dart Group, parent of Jet2.com and Fowler Welch Coolchain, reported a “reasonably satisfactory” profitable result in the year, with operating profits of GBP22.5 million...
North and South American airline stocks slumped on Thursday (24-Jun-2010) for a fifth consecutive session, as the Dow (-1.4%) fell. The market was down after disappointing earnings results from large businesses and uncertainty over the financial-overhaul bill.
Although it is not required to report its financial results, Virgin America revealed it narrowed its net loss in the fiscal first quarter of 2010 by 11.9% to USD35.5 million while posting a record revenue performance. Unit revenue rose by 21% to USD 8.29 cents while revenues jumped 46% to USD147 million...
IATA Director General and CEO, Giovanni Bisignani, has forecast that airlines could be operating commercial flights with biofuel within three to five years. The issue, according to IATA, is no longer technological but commercial. Synthetic fuel blends, using the Fischer Tropsch process, have already...
In mid-2008, Vietnam took a decisive step to develop and modernise its air traffic management system. Faced with rising passenger traffic, domestically and internationally, the Vietnamese Government moved to reorganise its national ATM system. The core component of this was the establishment of the...
European airline shares declined again on Thursday (24-Jun-2010), as wider markets again moved lower. The decline was the result of US Federal Reserve comments that Europe’s debt issues are negatively impacting a US economic recovery. In key markets, UK’s FTSE (-1.5%), France’s CAC (-2.4%) and...
Air Arabia’s (-2.2%) joint venture with the Travco Group, Air Arabia Egypt, announced plans to launch Alexandria-Beirut service in Jul-2010. The carrier will be the sole operator on the route.
China’s 'big three' airports - Beijing, Guangzhou and Shanghai - may be exhibiting a strong rebound in demand, but some truly breathtaking activity is occurring at China’s second tier airports. Growth rates of 25% and above are commonplace, as are extensive upgrade and expansion projects to keep...
AirAsia CEO, Tony Fernandes, stated the carrier is “actively” looking at the possibility of paying dividends, stating: “We are in a much better position (than last year) to be considering a dividend”.
A 12% increase in fares in 2010, followed by a 5% increase in 2011, will be diluted as deferred aircraft deliveries come on line in 2012 and 2013, according to Hudson Securities analyst Dan McKenzie, who testified recently before the Senate Transportation Committee hearings on the United-Continental...
Shares in Denmark's Copenhagen Airports A/S (CPH) gained 1.9% yesterday in the wake of this week’s announcement of an agreement to sell its 49% interest in Mexico's Inversiones y Técnicas Aeroportuarias, SA de CV (ITA) to CPH’s local Mexican business partner, Fernando Chico Pardo. ITA is a consortium...
The second stage of the EU-US open skies agreement was signed yesterday during a transport council meeting in Luxembourg by European Commission Vice-President Siim Kallas, Spanish Minister for Transport José Blanco and the US Ambassador to Luxembourg Cynthia Stroum, together with the Member States'...
Boeing confirmed late last week that it is sorting out a problem with the B787’s horizontal stabiliser, due to what its has termed “workmanship issues”. Some aircraft have issues with improperly installed shims and the torque of associated fasteners.
African airline shares were on lower on Friday, with Lonrho (-6.4%) and Kenya Airways (-0.5%) down while Comair and 1time remained flat. The Johannesburg Stock Exchange slipped for the fourth straight day by -0.57%.
Airline industry profits are flowing again in China in 2010 after a recovery in earnings in late 2009. Chinese carriers are now growing capacity (and their respective fleets and networks) aggressively, looking to further consolidate at home and increasing their presence on the international stage with...
European LCC stocks were mixed on Friday, with healthy gains by Jet2.com parent, Dart Group (+6.6%) and Cimber Sterling (+3.7%), as well as big falls by Norwegian Air Shuttle (-7.4%), Vueling (-4.7%) and Air Berlin (-4.2%). easyJet also fell 2.9%, while Ryanair was virtually flat (-0.1%).
Following a very positive result in 2008/9 with the aviation division taking the lead as the driving force of the company rather than the distribution division, Dart Group, owner of the LCC Jet2.com, felt the chill of the recession in the year ended Mar-2010. A 2008/09 operating profit that had risen...
China’s second-tier carriers are hard at work at present, rapidly expanding their domestic and (in some cases) international route networks. However, the vast majority of these airlines are now doing so under the control of the "Big Three" carriers and/or HNA Group, as consolidation accelerates in...
Continental Airlines’ Chair of the pilot Master Executive Council Jay Pierce expressed surprise that the negotiations with his pilot’s counterparts at United has reached an impasse so early in the negotiations. The roadblock threatens to derail the two unions reaching an agreement by year end. His...
GMR Infrastructure shares soared 5.5% to INR60 in morning trade on the Bombay Stock Exchange (BSE) on Friday, after announcing the day before that it was awarded the contract to manage and expand Male International Airport in the Maldives. GMR Infrastructure stock closed 0.5% higher.
Air France-KLM shares slid 3% on Friday following reports in La Tribune on Thursday that the company is aiming to cut 4,391 jobs by Mar-2013, but with no compulsory lay-offs.
Air China's shares closed steady on Friday after it agreed to purchase 20 new B737-800s to meet rising demand. Air China stated the aircraft would be delivered between 2013 and 2015 and would “strengthen the fleet capacity of the company with an increase of approximately 5%”. The carrier added the...
Autogrill shares advanced 2.2% as Fidentiis Equities confirmed its “buy” rating on the stock, citing an improvement in US air traffic in May. gategroup's shares rose 0.2% yesterday.
India will unveil its largest airport terminal, Terminal 3 at Delhi Indira Gandhi International Airport, on 03-Jul-2010. The INR127 billion (USD2.8 billion) structure will have capacity to handle 34 million passengers p/a and will be the nation’s most modern terminal. The terminal will be the eighth...
The operating environment for India's carriers appears increasingly positive. Passenger numbers, load factors and yields are all trending upwards on domestic and international services. And with projections of GDP growth close to 9% for the current financial year, and possibly even higher over the medium...
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