SAS Group expects return to profitability in 2005

The SAS Group reported a net income of MSEK 529 (1994 = MSEK 133) for the third quarter and MSEK 57 (1994 = MSEK -1,094) for the nine-month period ending September 2005. The new business model in Europe and within Scandinavia, with one-way fares and simplified rules increased both the number of sold tickets and the cabin factor increased. The SAS Group is expects to gain market share. As the number of low-fare tickets increases, yield will be negatively affected in the future but this is expected to be compensated by higher volumes.

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Singapore Airlines will use "Integrated Maintenance Solution" from Boeing

Boeing and Singapore Airlines signed a maintenance agreement to reduce the airline’s operating costs. Boeing will manage the airline’s total expendable spare parts inventory as well as provide a means to monitor the health of its airplanes in flight. Singapore Airlines is the first to sign for this integrated maintenance solution, which combines Boeing’s Integrated Materials Management (IMM) and Airplane Health Management (AHM). Through IMM, Boeing will be responsible for purchasing, inventory management and logistics for Singapore Airlines total expendable aircraft parts. Through AHM, Boeing will provide real-time airplane information to reduce schedule interruptions and increase maintenance efficiency.

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Boeing projects $770 billion market for new airplanes in Asia-Pacific.

Boeing detailed its 2005 Current Market Outlook (CMO) for the Asia-Pacific region, forecasting a market for about 7,200 new airplanes worth $770 billion over the next 20 years. Over the forecast period, Asia-Pacific will remain the largest market outside North America for new commercial airplanes. With the continued high rate of growth for Asia-Pacific air travel and air cargo markets, Asia-Pacific’s fleet will nearly triple to about 8,600 airplanes by the end of the forecast period. Nearly 7,200 new airplanes will be needed for future growth and replacement. Single-aisle airplanes, such as the Boeing 737 will be the largest category Read more

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Japan Airlines expects 47 billion yen loss in FY2006

Japan Airlines Corporation reported for the half year ending September 30, 2005 total operating revenues of 1,112.3 billion yen, up 3.4% on the same period last year. Operating costs were 1,096.5 billion yen (10.9% up on last year), resulting in half year operating income of 15.7 billion yen. Ordinary income was 9.7 billion yen and the first half net loss was 12 billion yen. The airline expects to post a 47 billion yen loss for the FY2006 ending March 31, 2006.

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FLYi, Inc. (Independence Air) files for Chapter 11 creditor protection

FLYi, Inc., parent of low-fare airline Independence Air, announced that FLYi, Inc. and its subsidiaries including Independence Air, have filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in order to restructure the company

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JetBlue offers new shares to raise $135 million

JetBlue Airways has priced its public offering of 7,500,000 newly issued shares of its common stock at $18.00 per share, generating gross proceeds of $135 million. The Company has also granted to the underwriters of this offering an over-allotment option to purchase up to an additional 1,125,000 shares of common stock which, if exercised in full, would generate additional gross proceeds of $20.25 million. JetBlue anticipates using the net proceeds from this offering to fund working capital and capital expenditures, including capital expenditures relating to the purchase of aircraft.

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