IAG traffic up on premium travel growth July 5, 2011 INTERNATIONAL Airlines Group (IAG), formed by the merger of BA and Iberia, posted a rise in passenger traffic for June thanks to growth in first-class and business-class travel. Traffic, measured in revenue passenger kilometres, rose 9.2 per cent versus June 2010, while passenger load factor – a measure of how well it fills its planes [...]
BEST OF THE BROKERS May 22, 2011 AGGREKO Goldman Sachs rates the power rental company a “buy” and has added the firm to its conviction buy list with a raised target price of 2482p. The broker thinks now is the key time to invest as a result of the favourable pricing environment caused by power shortages in Japan, bolstering the firm’s already [...]
Capacity cuts could be end of good times May 23, 2011 FOR the first time in its 25 year history, Ryanair is cutting capacity. When winter 2011 rolls round the discount airline plans to ground 80 of its fleet including 50 new deliveries – even if the UK experiences an Indian summer that lasts until next February. A winter pullback on capacity is not unusual, but [...]
Capacity cuts could be end of good times May 23, 2011 FOR the first time in its 25 year history, Ryanair is cutting capacity. When winter 2011 rolls round the discount airline plans to ground 80 of its fleet including 50 new deliveries – even if the UK experiences an Indian summer that lasts until next February. A winter pullback on capacity is not unusual, but [...]
CITY MOVES | WHO’S SWITCHING JOBS June 2, 2011 Norton Rose Jon Harry is joining the law firm’s Paris office as a partner on 6 June. Harry led the corporate group of Hogan Lovells’ Paris office from 2006 to 2009, before becoming a corporate specialist practising in Paris, with expertise in cross-border mergers and acquisitions. Evolution Securities The investment bank has appointed Mark Wellesley-Wood [...]
WHISKY AT MIDDAY FOR ABERDEEN’S POLAR FEAT June 2, 2011 THE WHISKY came out at noon at Aberdeen Asset Management yesterday to christen the boat the fund managers are sponsoring on its voyage into the Arctic unknown. The Old Pulteney has been designed to withstand some of the harshest conditions on earth, and her six-man crew – led by Scottish explorer Jock Wishart – will [...]
BAA mulls a fresh lawsuit in sell-off spat July 19, 2011 BAA said it is considering judicial review after the Competition Commission ruled yesterday that the airport operator must sell Stansted and Glasgow or Edinburgh airport. In its final report, the commission said that the sales process for London’s third-largest airport Stansted would start in three months’ time, and would be followed by the sale of [...]
Aer Lingus in profit warning May 5, 2011 IRISH airline Aer Lingus may ramp up a controversial cost-cutting plan after confirming profit this year will be significantly below 2010 due to weak demand and higher fuel prices. Facing constant pressure from Ryanair, Aer Lingus has cut routes, staff and pay to survive and another round of cuts could put it on a fresh [...]
Aer Lingus in profit warning May 5, 2011 IRISH airline Aer Lingus may ramp up a controversial cost-cutting plan after confirming profit this year will be significantly below 2010 due to weak demand and higher fuel prices. Facing constant pressure from Ryanair, Aer Lingus has cut routes, staff and pay to survive and another round of cuts could put it on a fresh [...]
Shares in Avis spike on news of takeover June 14, 2011 SHARES in car hire firm Avis Europe leaped 58 per cent yesterday as investors rushed to benefit from its takeover by US counterpart Avis Budget. Avis Budget said it would pay £636m in cash for Avis Europe to reunite the two firms after 25 years and create a group with revenues of $7bn (£4.3bn). The [...]