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The political instability engulfing some North African states has extensive implications for tourism and aviation across the region. Already dozens of governments are warning their citizens to avoid travel to Egypt. Several have chartered aircraft to ferry their nationals out. Cairo Airport has been...
Citing rising fuel costs, Allegiant Travel Company is cutting back utilisation driving operating costs up as it continues to focus on two operating initiatives for 2011: increases the MD-80 seat count to 166 and integrating the 757 into its fleet.
In a move that is doubtless designed to blunt the dominance of oneworld in South America, current and future Star Alliance members have announced their intent to embark on a codesharing initiative that will strengthen the alliance in the region.
With its USD38.5 million net income for 2010 down 71.4%, AirTran managed to eke out its eighth consecutively profitable year while recording USD1.9 million net income for the fourth quarter. Operating margin for the year the dropped 1.7 points to 4.9% while net margin dropped 4.3% to 1.5%.
The WTO has handed down its final decision on DS 353: the case brought by the EU against US government subsidies to Boeing. As usual with "confidential" rulings, both sides have immediately commented on the decision, despite the fact that the formal report is not due to be made public for weeks. With...
Ryanair, Europe's largest LCC, reported a disappointing loss in 3QFY2011, despite better revenue performance and higher load factors. The carrier had a EUR300,000 operating loss and a net loss of EUR10 million, on revenue of EUR746 million. However, the airline is forecasting a stronger final quarter...
Shares in UK-based aircraft broker Air Partner spiked 7.4% in trading on Monday. The company announced earlier this week that it expects its fiscal year first half results to be ahead of estimates, due to the commercial jet broker performing particularly well.
Europe’s largest LCC Ryanair reported a disappointing loss in 3QFY2011 but the airline is forecasting a stronger final quarter with results towards the upper end of its forecast range. The carrier made a EUR300,000 operating loss and a net loss of EUR10 million, on revenue of EUR746 million.
Shares in US LCC, Allegiant Air dropped 7.9%, the largest single day decline at the carrier for nine months. The carrier recently reported a USD20.9 million net profit for the three months ended 31-Dec-2010. However, announced plans to slow capacity growth further over 1H0211 and increase its fares...
Shares in Middle East and African carriers were quiet yesterday, with only Royal Jordanian and Air Arabia showing signs of recovery from the nervousness that affected Middle East markets last week. Most Middle East markets were quiet yesterday, with the biggest movements outside of Egypt coming in Kuwait...
Shares in SpiceJet continued a five-day downward run, falling 11.4%. Other Indian carriers also dropped sharply yesterday, with concerns over fare levels and fuel prices mounting.
Shares in Bombardier rose 3.7% at the close of trading on Tuesday. The Canadian company recently announced it has received firm orders from an undisclosed customer for eight large business jets, valued at USD383 million. Bombardier is maintaining that its CSeries is on track for its 2013 entry into...
Shares in Italian airport retailer and apparel company Stefantel jumped 10.5% yesterday on a high volume of trading. The stock hit a 52-week low in early Jan-2010 and has gained 8.2% this year, including yesterday’s jump.
Ryanair shares gained 2.8% in trading yesterday, with the carrier upbeat on the prospects for its full-year results. Its small third quarter loss was an admitted disappointment, but the carrier is confident that its full-year results will be to the high side of its EUR380-400 million net profit target...
Forty years ago, the vast majority of international traffic to and from the US transited New York. Though that flow has since been spread across a plethora of hub cities, New York retains its position as the place where new entrants and established players must be present. As global air transport numbers...
GVK Infrastructure reported a disappointing 8.7% slip in net profit for the three months to 31-Dec-2010, although its airport operations at Mumbai and Bangalore continue to perform well.
Global travel distribution system suppliers and online travel companies continue to announce new contract wins, with Amadeus wrapping up an e-Commerce contract with Air Canada, Nok Air signing up for Amadeus’ new data solution, Virgin America announcing a deal with Sabre and WestJet signing a distribution...
Shares in India’s listed airlines fell heavily in trading yesterday, as the sector faces concerns over high levels of competition and capacity on key routes, falling fares and rising oil prices. The Bombay Stock Exchange’s Sensex 30 Index fell by 1.7% yesterday, as did the broader BSE-200.
The WTO has handed down its final decision on DS 353; the case brought by the European Union against US government subsidies to Boeing. The decision is the latest in an ongoing dispute between Airbus and Boeing, and by default the EU and the US, over commercial aircraft manufacturing and the level of...
While the global aviation industry is expected to post a much-improved profit of USD15.1 billion in 2010 followed by USD9.1 billion in 2011 – and numerous airlines have reported either record bottom lines or considerable improvement in 4Q2010 and FY2010 – four LCCs have lowered their profit expectations...
Jazeera Airways announced enhancements to its economy-class offering, upgrading it to include free complimentary meals and drinks on all flights from Kuwait and across the airline's entire network. The enhancements will be added from 15-Feb-2011. The move follows a series of value enhancements for the...
Ryanair CEO Michael O’Leary has forecast that the rising cost of fuel could be a threat to the survival of less profitable carriers. IATA has expressed similar concerns, warning that the increasing costs of jet fuel could eat away its forecast of USD9.1 billion in industry profits for 2011.
Russia’s United Aircraft Corporation reported 2010 revenue rose 45% to EUR4.06 billion, with a 60% increase in civil sales to EUR492 million.
Hawaiian Airlines reported a 4Q2010 profit of USD11.3 million, although the carrier suffered a USD60 million write-off to its bottom line thanks to a one-time tax adjustments. The positive financial result missed analysts expectations, with the carrier’s shares finishing trading on Wednesday 5.4%...
Chile’s LAN has run up against the Chilean antitrust regulator TDLC less than two weeks after announcing binding agreements in its plan to merge with Brazil’s TAM. The merger will create the world’s 11th largest carrier by passenger numbers.
Fresh from the dual successes of new service to Tokyo-Haneda and South Korea’s Incheon, Hawaiian Airlines posted consolidated net income of USD110.3 million on total operating revenues of USD1.3 billion for 2010. The airline benefitted from USD62.5 million in tax adjustments, without which the carrier...
IATA Director General and CEO, Giovanni Bisignani, cautioned that if oil prices remain at current levels, the industry’s return to profitability would be threatened. He simultaneously noted the “pathetic” 2.7% profit margin reported by the industry in 2010 and noted the challenges in delivering...
World Fuel Services Corp stock hit a record high in trading yesterday, gaining 2.5%. Stock in the company is up 4.5% for the year-to-date.
Mexican airport operator GAP confirmed it is considering a legal challenge to a decision by the Mexican Federal Competition Commission barring it from bidding for a tender to build and operate an airport in the Caribbean resort strip known as Riviera Maya. ASUR’s largest airport, Cancun, is located...
Shares in Swiss retail company Dufry dipped 2.6% yesterday. Stock in the company has generally traded down this year, losing 11% for the year to date. Trading has been relatively subdued in the stock over the past few weeks.
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