Finance and economy
3,155 news found
Finance and economyAir France-KLM: "The job's cut is inevitable"
Paris, France - The Group in red the 1Q 2009
The economic crisis also hit the French-Dutch Group Air France-KLM that yesterday announced its first loss since the merger and for Air France is the first in 13 years. According to some press-sources,... more
Finance and economyItalian SAT closes in loss the 1Q 2009
Pisa, Italy - A negative net result equal to 969,000 Euros
SAT, Pisa Airport Management Company, announced the result of the first three months 2009. Passengers were 680,979, with a 5.3% drop compared with the same period of 2008. In a press release SAT said... more
Finance and economyGemina, first quarter 2009 in red
Rome, Italy - Revenue was equal to 120.4 million Euros
Gemina closes in red the first quarter 2009. The Board of Directors approved today the Group Management Intermediate Report to March 31, 2009. The financial result is conditioned by the appropriations... more
Finance and economyAutogrill: the board of directors approves results for 1st quarter 2009
Milan, Italy - Consolidated Ebitda reaches €92.9m
Autogrill has unveiled the results regarding the 1st quarter 2009. "• Consolidated revenues: €1,216.2m, up 11.5% on €1,090.9m in 1st quarter 2008 (–7.3% pro forma at constant exchange rates) • C... more
Finance and economyIberia, 92.6 million Euro loss in the first quarter
Madrid, Spain - Negative forecasts in 2009
Spanish airline Iberia unveiled today the result for the first quarter 2009. The Group posted a consolidated loss of 92.6 million euros in the first quarter of 2009, chiefly due to the deep impact of the... more
Finance and economyEADS, Q1 2009 results reflect strengths but challenges remain
Munich, Germany - Revenues reflect the drop of the Airbus deliveries
EADS (European Aeronautic Defence and Space Company) first quarter 2009 results demonstrate a continuing solid underlying performance. The strong order book allows active management of deliveries at the... more
Finance and economyMeridiana closes 2008 with a 23.9 million Euro net loss
Milan, Italy - The Board of Directors approves the account
The Board of Direction approved the accounts 2008 that will be submitted to the shareholders assembly on June 29th. After three years characterized by profits, Meridiana close the Financial Year (FY) 2008... more
Finance and economyAsian fund purchased Piper Aircraft
Vero Beach, USA - Imprimis acquired 100% of the constructor's stocks from American Capital
Piper Aircfaft, historical aircraft manufacturer, has been bought by Asian investment fund Imprimis, operating between Bangkok, Singapore and Brunei. American Capital sold its 100% stake in the company... more
Finance and economyUnited lost 382 million dollars in the 1Q 2009
Atlanta, USA - The airlines would cut systemwide capacity 9% for the full year
United Airlines said Tuesday it lost 382 million dollars during the first quarter as it raced passengers to see who could pull back faster on flying, against 549 of the same period in 2008, particularly... more
Finance and economyDelta, 794 million dollar 1Q net loss
Altanta, USA - 50 dollar fee for the second bag from July
Delta Air Lines, one of the world’s largest carrier, reported a 794 million dollar first-quarter net loss on lower demand for travel because of the recession. This is a better result than 2008 (6.39 b... more
Finance and economyPrecision Air’s ATR fleet financing awarded as “African Deal of the Year 2008”
New York, Usa - By "Airfinance" Journal
"The financing of the fleet of 2 ATR-42/500s and 5 ATR-72/500s of the Tanzanian private carrier Precision Air Services has been awarded by 'Airfinance' Journal as 'African Deal of the Year 2008'. The award... more
Finance and economyAutogrill: new board of statutory auditors voted for 2009-2011 three year term
Milan, Italy - Shareholders’ meeting approves financial statements for 2008
"The ordinary meeting of the shareholders of Autogrill SpA held today under the chairmanship of Gilberto Benetton approved the financial statements for 2008. The meeting also voted to allocate profits... more
Finance and economyBoeing to slow production 2009
St. Louis, USA - The announcement of the production cut
Hard days for Boeing. The Company last week announced that it would slow manufacturing rates for three larger jet models, the 767, 777 and 747/8, whose sales have been battered by a decline in air freight... more
Finance and economyBritish Airways easy about Iberia merger
London, UK - Walsh: "We will not settle for less than 53% of the new group"
Willie Walsh, British Airways CEO, told the Spanish newspaper "Expansion" that his airline is in no hurry to end talks about the merger with Iberia. He also stated that "Our shareholders will not settle... more
Finance and economyEurofly closes 2008 with revenue +14.7%
Olbia, Italy - Net financial position is positive for 5,57 million Euros
Eurofly closed 2008 with revenues +14.7%, equal to 368,37 million Euros, while the net lose reduced to 18.49 million Euros, compared with 22.28 million of the last year. According to a note by the airline,... more
Finance and economyBritish Airways and Iberia: merger talks stall
London, UK - In spite of managers' optimistic statements
In spite of the frequent reassurances made by British Airways and Iberia managers the merger talks between the two airlines seem to be idling. According to the British newspaper "Times", quoting sources... more
Finance and economyAgreement reached between Air Berlin and TUI Travel
Berlin, Germany - The operator will take over the 19,9% of the airline in exchange of 19,9% of TUIFly
After the recently announced discussions (see AVIONEWS) the German airline Air Berlin and the tour operator TUI Travel signed the agreement for a mutual exchange of stocks. The signature has been announced... more
Finance and economyPossible alliance between Air Berlin and Tui Travel
Berlin, Germany - The two companies towards a cross-participation in each other's capital
Even if it is not yet certain, managers from the two German companies (Air Berlin airline and Tui Travel tourist operator) confirmed to be in advanced discussions for a possible alliance. If signed, this... more
Finance and economyVueling-Clickair: the first step to the merger
Barcelona, Spain - The cross-selling between Websites of the two airlines
With the activation of the cross-selling system between Websites of Vueling and Clickair, the two airlines give the go-ahead to the first step to the merger, Vueling financial manager, Mr Antonio Grau,... more
Finance and economyHypothesis of joint-venture among American Airlines, British Airways and Iberia
Atlanta, Usa - Maybe within the Summer
American Airlines will reduce the market's domestic capacity of 8-10% (and not the European network that, on the contrary, will profit by the introduction of the new route from Dallas to Madrid). But the... more
Finance and economyThe tour operator I Viaggi del Ventaglio sells its shares in Livingston to 4 Fly
Milan, Italy - The agreement includes the supply of air transportation service
The Italian tour operator I Viaggi del Ventaglio sells to 4 Fly its shares in the air carrier Livingston spa. The transaction worth 44.1 million euros. Meanwhile, the Milanese operator made a deal for... more
Finance and economyBank of America sells Merril Lynch air fleet
New York, Usa - It was made of three airplanes and one helicopter
Bank of America put on the market three airplanes and one helicopters of Merrill Lynch fleet, which has just become a branch. The goal is to reduce costs, decreasing the use of aircraft. According to... more
Finance and economyAlitalia: official listing difficult within three years
Rome, Italy - The statements by Roberto Colaninno
"The official listing of Alitalia within three years is a possibility forecast by the stature but I don't believe that will be possible", said Roberto Colaninno, President of Alitalia during the hearing... more
Finance and economyRyanair, a loss of 102 million Euros
Dublin, Ireland - Data relating to 3rd Quarter 2008
Ryanair, Europe’s largest low fare airlines announced a Q3 loss of 102 million Euros, (compared to a profit of 35 million in last year’s Q.3). Average fares fell by 9% to 34 Euros, while fuel costs ros... more
Finance and economyAutogrill: calendar of company events for 2009
Milan, Italy - Six dates, from March to November
"Autogrill SpA announced its financial disclosures calendar for 2009, indicating when the Company’s accounts will be examined and approved by Board of Directors and Shareholders’ meetings: - March 12,... more
Finance and economyAir Partner among the most growing European companies
Milan, Italy - It's the only one in the aviation industry included in the standing
Air Partner is in the annual standing which includes the most growing European companies of 2008. The world leader in dealing commercial aircraft and private jets, ranked 43th, the only company of the... more
Finance and economyAlitalia to leave Piazza Affari on January 26th
Milan, Italy - A decision by Borsa Italiana
Alitalia will say goodbye to Piazza Affari on January 26th, after the starting of the cancellation's procedure of the quotation in the Stock Exchange. This decision has been taken by Borsa Italiana. The... more
Finance and economyAlitalia (2): the share cancellation procedure is under way
Milan, Italy - Still no communication by Economics Ministry
Borsa Italiana decided to start the quotation cancellation procedure of the Alitalia's ordinary stocks, suspended since June 5th, 2008. The only possibility for the shareholders to achieve a payback... more
Finance and economyAir France-KLM decreasing in the Stock Exchange after the announcement of the alliance with Alitalia
Paris, France - Yesterday lost 2.07%
After the announcement of the alliance with Alitalia, the Air France-KLM stock is decreased 2.07% closing to 9.67 Euros. Other element that has probably influenced the market's trend was the publication... more
Finance and economyMeridiana, a 20 million Euros financing by Aga Khan Fund
Milan, Italy - For the Eurofly's capital subscription
Meridiana signed with Aga Khan Fund for Economic Development a financing contract equal to 20 million Euros for the Eurofly's capital increase subscription. "The financing was given to allow the air... more
Finance and economyEBAA: the economic impact of the business aviation in Europe
Brussels, Belgium - This report has been prepared by PricewaterhouseCoopers LLP ("PwC") for European Business Aviation Association ("EBAA")
"The key findings of our analysis of the economic impact of business aviation in Europe are as follows: ? The business aviation sector contributed a total of €19.7bn in annual gross value added (GVA) t... more
Finance and economyFinmeccanica (2): issued 750 million euro fixed rate bonds
Rome, Italy - With a 5 year maturity
Finmeccanica launched and priced fixed rate bonds with maturity 3 December 2013 (5-year) for a nominal amount of 750 million Euros. The bonds, with an annual coupon of 8.125%, have an issue price of 99.758%.... more
Finance and economyFinmeccanica (2): capital increase completed
Rome, Italy - Full subscription of the new ordinary shares offered
The rights offering to Finmeccanica shareholders relating to new ordinary shares resulting from the capital increase by way of rights approved by the Board of Directors on 8 September and 15 October 2008,... more
Finance and economyIATA: assessment of premium and economy travel in September
Geneva, Switzerland - Key points
"IATA's assessment of premium and economy travel in September. Key points: - The number of premium passengers fell 8% in September, following a 1.5% decline in August; - Economy travel also fell... more
Finance and economyVitrociset: financial contribution from Ciset and Finmeccanica
Rome, Italy - Recapitalize to grow on the foreign markets
The Roman company, controlled by the Ciset of Edoarda Crociani for 90% and the Finmeccanica for the remaining 10% has decided to recapitalize, with an increase of a million of euro by corporate property... more
Finance and economyVitrociset: Tommaso Pompei is the new CEO
Rome , Italy - The managing director top of Omnitel, Enel, Wind and Tiscali entered the group on November 7th
The company, of whom Mario Arpino is the president, aims at the reinforcement of the corporate property through strategic policies on which Tommaso Pompei one will have to concentrate. The company does... more
Finance and economyFinmeccanica, the strategy of a global leader
Rome, Italy - The take over of DRS consolidates its role as a leading global supplier of integrated systems for defense and security
The acquisition of DRS Technologies represents a major milestone in Finmeccanica’s strategic plan to expand its global presence, focusing on the United States and the United Kingdom. DRS, a US company, o... more
Finance and economyContracts: different perspectives
Rome, Italy - Marcegaglia-Epifani divergences
"Tit-for-tat" between the president of General Confederation of Italian Industry Emma Marcegaglia and CGIL general secretary Gugliemo Epifani. The apple of discord: the different perspectives on the... more
Finance and economyAutogrill: Board of Directors approved re-organization plan
Milan, Italy - To incorporate Autogrill International SpA
"The Boards of Directors of Autogrill SpA and its wholly owned subsidiary Autogrill International SpA yesterday approved a re-organization plan that envisages the merger of Autogrill International into... more
Finance and economyAutogrill: the board of directors approves the first half report at 30 June 2008
Milan, Italy - Consolidated first half 2008 revenues up 25.1% at EUR 2,544.5m
"· Revenue in North America: $ 1,259m, up 9.6% on the $1,148.2m for the first half 2007 · Revenue in Italy: EUR 626.5m, up 4.3% on EUR 600.5m for the first half 2007 · Revenue in Rest of Europe: EUR 32... more
Finance and economyAutogrill on the shares’ buy-back programme
Milan, Italy - Weekly communication about it
"In execution of the resolution passed by the General Meeting of shareholders held on 23 April 2008, Autogrill SpA announces that in the 31st week of 2008 (from 28 July to 1 August), the Company purchased... more
Finance and economyFinmeccanica (4): first-half highlights and significant events since June 2008
Rome, Italy - The acquisition of DRS Technologies will be carried out via the constitution by Finmeccanica of a company incorporated in the US
On 16 January 2008, following the takeover bid launched by Finmeccanica for the UK company VEGA Group Plc, and after achieving a 65.1% take-up rate giving Finmeccanica a total stake of 93.3%, the offer... more
Finance and economyFinmeccanica (2): breakdown of key figures
Rome, Italy - Revenues, Adj EBITA, Net profit, Net debt and Free Operating Cash Flow
Revenues came in at EUR 6,433 million in 1H08, versus EUR 6,079 million in 1H07, an increase of EUR 354 million (+6%). Aerospace and Defence accounted for 80% of production in the period, and Energy and... more
Finance and economyFinmeccanica: the Board of Directors approves first-half results
Rome, Italy - Revenues up 6%
Finmeccanica continued to grow organically during the first half of 2008, confirming the stability and quality of its growth plan. - Revenues came in at EUR 6,433 million in 1H08, versus EUR 6,079 million... more
Finance and economyFinmeccanica (3): orders and the research and development sector
Rome, Italy - The order backlog was equivalent to around three years of production
New orders totalled EUR 6,809 million, an increase of EUR 331 million (+5%) on the figure of EUR 6,478 million recorded in 1H07, and were received in almost all segments. Aerospace and Defence accounted... more
Finance and economyAutogrill about shares’ buy-back programme
Milan, Italy - Weekly communication on it
"In execution of the resolution passed by the General Meeting of shareholders held on 23 April 2008, Autogrill SpA announces that in the 30th week of 2008 (from 21 July to 25 July), the Company purchased... more
Finance and economyAutogrill: guidance and business plan objectives for 2008-2010
London, United Kingdom - Autogrill consolidated revenues to reach € 6.6 billion in 2010
"Business plan for 2008-2010 • Consolidated revenues in 2008: €5,780m, and average annual growth of 6.9% to 2010 • Consolidated Ebitda in 2008: €600m (net of restructuring costs of around €17m),... more
Finance and economyAutogrill to launch buy-back programme
Milan, Italy - Up to 5% of the share capital
"Further to a resolution approved by shareholders on 23rd April 2008, Autogrill SpA has announced that, pursuant to art. 144-bis. Clause 3, 'Regolamenti Emittenti' (regulations for listed companies), it... more
Finance and economyChina: airlines increase fuel surcharges of 50% on domestic routes
Beijing, China - The disposition in effect from today
Chinese airlines, currently suffering a sluggish aviation market, said the increase in jet fuel surcharges, effective as of Tuesday, was not expected to bring much benefit for them. From today, passengers... more
Finance and economyDelisting of Boeing from the Tokyo Stock Exchange
Tokyo, Japan - Starting from July
Boeing has announced the intention to abandon the Tokyo Stock Exchange. The US Group disclosed that from July 8th the delisting iter will be started, and in about one month it will be ended with the goal... more