Turkish Airlines delivers strong growth in Q3 2005

-Revenues up to $1.8 bn (+30%) (2004:$1,358 mn) brought about by: increased seat capacity, up to 13,823 (+16%) and increased load factor, up to 74% (+3 pt). Revenues have been growing at 13% (CAGR) since 2001. -Net Profits up to $106 mn from (+ 31 % ) $81 mn over the same period in 2004. -Passenger numbers up to 11m (+20%) against 8.8m a year ago, accommodated by increased seat capacity of 13,832 (+16%) and increased load factor, up to 73,6% (+2.5%). -Strong growth in domestic and international traffic. -$200 mn joint venture for technical and maintenance service center, called Read more

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B/E Aerospace, Inc. shows improved financial performance – Raises Earnings Guidance for 2006

B/E Aerospace, Inc. confirmed its 2005 guidance that revenue will be in excess of $800 million and operating earnings growth will be approximately 45% over 2004 results. The Company also raised its 2006 earnings guidance and specified that underlying its existing 2006 guidance is operating earnings growth of approximately 40% over 2005 expected results. Revised earnings per share guidance for both periods is discussed below.

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B/E Aerospace Announces Public Equity Offering

B/E Aerospace, Inc. announced that it plans to make a public offering of 13,000,000 shares of its common stock. The offering will be made under B/E’s effective shelf registration statement filed with the Securities and Exchange Commission. Credit Suisse First Boston and UBS Investment Bank will be the joint book-running managers for the offering and Friedman Billings Ramsey and Stephens Inc. will be co-managers for the offering. B/E will grant the underwriters an option to purchase up to an additional 1,950,000 shares of common stock to cover over-allotments, if any. B/E intends to use the aggregate net proceeds from the Read more

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SAS Group sells its shareholding in European Aeronautical Group

The SAS Group has signed and closed an agreement to sell its 100% stake in European Aeronautical Group (EAG) to Navtech Inc. based in Waterloo, ON, Canada. The shares are sold at a total price of approximately MSEK 162 for the equity plus an additional amount estimated to MSEK 30 based on future revenues. The capital gain in the SAS Group is approximately MSEK 50 and the positive effect on cash and net debt is approximately the same excluding the additional amount.

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No agreement between Continental Airlines and Flight Attendant

Talks between Continental Airlines and the IAM adjourned yesterday in Washington, D.C., with no flight attendant agreement being reached. The chairman of the National Mediation Board (NMB) joined the talks on Tuesday, Nov. 15. The issues have been narrowed to a few remaining items. A final bargaining session has been scheduled for Dec. 7 and 8 in the offices of the NMB in Washington, D.C. If no agreement is reached on those dates, the NMB has stated that it will consider releasing the parties from mediation into a 30-day cooling off period. At the end of that period, the company Read more

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AMR prices public Equity Offering

AMR Corp. , the parent company of American Airlines, Inc., announced the pricing of a public offering of 13 million newly issued shares of its common stock at a price to the public of $17.25 per share. AMR has granted the underwriter of the offering a 30-day option to purchase up to an additional 1.95 million shares of common stock solely to cover over-allotments, if any. AMR expects the issuance and delivery of the shares to occur on November 23, 2005. AMR intends to use the net proceeds of the offering for general corporate purposes.

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Mesa Air Group profit doubled

Mesa Air Group, Inc. announced 4th quarter after tax earnings of $15.0 million on operating revenues of $309.1 million. Total operating revenues for the fourth quarter of 2005 increased $49.1 million, or 18.9%. Net income for the 4th quarter was $15.0 million, compared to net income of $10.7 million for the same period of fiscal 2004. Year-to-date net income was $56.9 million on operating revenues of $1.1 billion. Total operating revenues for 2005 increased $239.5 million, or 26.7%, primarily the result of year-over-year increases in the regional jet fleet. Net income for the year were $56.9 million compared to net Read more

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