- Atlas Air stable, profitable in 1st year[Apr. 14, 2006]
Atlas Air and Polar Air Cargo parent Atlas Air Worldwide Holdings, in its first full fiscal year since exiting bankruptcy protection, reported a 2005 profit of $73.9 million on revenue of $1.62 billion, a performance that left the company confident as it pursues a listing of its common stock on a national exchange."We believe that reaching these milestones will greatly broaden our potential investor base and therefore interest in AAWW, ensuring a more liquid market for our shares," Senior VP and CFO Michael Barna said.
- Big-hitter Qantas eases back[Apr. 13, 2006]
Qantas will cut its regular sport sponsorship commitments, estimated to be worth $15 million, in favour of community and arts packages.
- Qantas, Air NZ announce codeshare agreement[Apr. 13, 2006]
The on-again-off-again relationship between Air New Zealand and Qantas is back on, with the carriers announcing yesterday a comprehensive codeshare agreement for their routes across the Tasman Sea.
- Fuel prices impeding US airline recovery[Apr. 12, 2006]
Continued rising fuel prices are undermining the "remarkable overall progress being made by the US airline industry to return to profitability," the US Air Transport Assn. said yesterday as it called for airspace modernization to mitigate the impact."Record crude oil prices, which are expected to average nearly $70 per barrel this summer, will hamper the industry's widespread efforts to reverse the losses that have plagued the airlines in recent years," ATA VP and Chief Economist John Heimlich said in a statement yesterday.
- SAA seduced by low-cost market[Apr. 12, 2006]
South African Airways will launch a low-cost carrier by year end, President and CEO Khaya Ngqula revealed during a ceremony in Johannesburg Monday that saw SAA become a full Star Alliance member (ATWOnline, April 11)."There is a clear demand for low-cost travel in the country," Ngqula said, noting that LCCs represent 20%-25% of the market. "The market for domestic travel has increased by 50% over the past five years [since the first LCC, kulala.com, commenced operations], and we have only captured 5% to 10% of this. We need to take a bit of this back."
- Cathay Pacific, Air China, the investors[Apr. 11, 2006]
A joint statement released yesterday by Cathay Pacific Airways and Air China and investors Swire Pacific, China National Aviation Co. and CITIC Pacific confirmed reports that "discussions are taking place about operational cooperation" between CX and Air China and "realignment of shareholdings" in the two airlines and Dragonair, the Hong Kong carrier owned jointly by CNAC (43.3%), CITIC (28.5%), Cathay (17.8%) and Swire (7.7%).There has been talk of Cathay's increasing its stake in Dragonair as it looks to build a stronger presence on the mainland, while Air China, in which CX owns 9.9%, leans toward joining the Star Alliance (ATWOnline, April 5).
- BAE in talk to sell Airbus stake to EADs[Apr. 10, 2006]
BAE Systems on Friday informed the London Stock Exchange that it has "entered into discussions with European Aeronautic Defense & Space Co. regarding the sale of its 20% shareholding in Airbus."In the brief statement, the company also said that "discussions are at an early stage." According to the Associated Press, EADS has valued BAE's stake at ?3.5 billion ($4.3 billion). BAE Systems' primary contribution to Airbus is design and production of wings.
- $55m parts centre for Qantas[Apr. 07, 2006]
Qantas is expecting a 25 per cent efficiency improvement from a new $55 million material and logistics distribution centre opened this week near its Sydney headquarters.
- Jetstar Asia to spread its wings[Apr. 07, 2006]
QANTAS remains intent on replicating its Jetstar Asia joint venture in other Asian countries, despite problems that have prompted its Singaporean investment to reduce aircraft numbers and raise more money.
- Norwegian to enter low-fare fray[Apr. 07, 2006]
Norwegian has decided to invade an already-crowded Polish low-cost market and intends to hire Polish flight crew for the operation.The LCC announced yesterday that it will open a base in Warsaw and operate flights to three Spanish cities, France and its Oslo hub. It will base two aircraft at Warsaw, where it will compete with LOT Polish Airlines subsidiary Centralwings, SkyEurope Airlines and Wizz Air, among others.