Sunday, November 17, 2002
Saturday, November 16, 2002
Looks like some airlines in Europe are doing a little better:
This from Flight International Nov 5 2002:
Lufthansa has reported a 172% increase in operating profits for the first nine months of the year to €790 million ($790 million), exceeding its €500 profit forecast for the full financial year. Revenues rose by 2.7% to €12.6 billion, while net profit more than quadrupled from €65 million to €344 million. Lufthansa is now forecasting a full-year operating result of €700-750 million.
Lufthansa chairman and chief executive Jurgen Weber says: "In the deepest crisis of the aviation industry Lufthansa succeeded in protecting its group of companies against a serious threat to its very existence, maintaining the quality of its offerings at a high level, remaining profitable, and, as a result, securing jobs and even creating perspectives for the creation of new jobs."
Lufthansa warns it faces 'greater risks in the final three months the year. The stagnating economy, political instability and a decline in business travel'. It says the large union wage claims coupled with proposed tax plans of Germany's new government also threatens the airline's financial performance. Weber says: 'A whole wave of discriminations will hit German airlines if these plans are faithfully implemented.'
British Airways' second quarter pre-tax profits have increased to £245 million ($383 million) compared to a profit of just $5 million for the same period in 2001, which was badly affected by the fall-out of 11 September. Interim pre-tax profits have increased to £310 million for the six months from April to September 2002, compared to £45 million last year. The airline expects to return to profitability this year, after making a pre-tax loss of £200 million for the full year last year and an operating loss of £30 million. BA's second quarter operating profit increased from £72 million last year to £248 million, and first half operating profit was £406 million, compared to £284 million last year. The airline's capacity cuts have yielded a 10.1% reduction in available seat-km during the quarter, while traffic (revenue passenger-km) was down 6.8%. Load factor increased 2.8% to 76.7%. Revenue fell 6.5% in the second quarter to £2.1 billion, and was down 8% for the first half at £4.15 billion. With the airline's recovery being cost rather than revenue driven, its cost reduction programme has seen operating expenditure down 15% in the second quarter at £1.85 billion.
This from Flight International Nov 5 2002:
Lufthansa has reported a 172% increase in operating profits for the first nine months of the year to €790 million ($790 million), exceeding its €500 profit forecast for the full financial year. Revenues rose by 2.7% to €12.6 billion, while net profit more than quadrupled from €65 million to €344 million. Lufthansa is now forecasting a full-year operating result of €700-750 million.
Lufthansa chairman and chief executive Jurgen Weber says: "In the deepest crisis of the aviation industry Lufthansa succeeded in protecting its group of companies against a serious threat to its very existence, maintaining the quality of its offerings at a high level, remaining profitable, and, as a result, securing jobs and even creating perspectives for the creation of new jobs."
Lufthansa warns it faces 'greater risks in the final three months the year. The stagnating economy, political instability and a decline in business travel'. It says the large union wage claims coupled with proposed tax plans of Germany's new government also threatens the airline's financial performance. Weber says: 'A whole wave of discriminations will hit German airlines if these plans are faithfully implemented.'
British Airways' second quarter pre-tax profits have increased to £245 million ($383 million) compared to a profit of just $5 million for the same period in 2001, which was badly affected by the fall-out of 11 September. Interim pre-tax profits have increased to £310 million for the six months from April to September 2002, compared to £45 million last year. The airline expects to return to profitability this year, after making a pre-tax loss of £200 million for the full year last year and an operating loss of £30 million. BA's second quarter operating profit increased from £72 million last year to £248 million, and first half operating profit was £406 million, compared to £284 million last year. The airline's capacity cuts have yielded a 10.1% reduction in available seat-km during the quarter, while traffic (revenue passenger-km) was down 6.8%. Load factor increased 2.8% to 76.7%. Revenue fell 6.5% in the second quarter to £2.1 billion, and was down 8% for the first half at £4.15 billion. With the airline's recovery being cost rather than revenue driven, its cost reduction programme has seen operating expenditure down 15% in the second quarter at £1.85 billion.
Monday, November 11, 2002
According to this article the small and mid size companies, typical of those we work with are getting squeezed out
From Aviation Week
Decisions on the sale of FAIRCHILD DORNIER, which were expected at the Nov. 5
meeting of the creditors' committee, have been delayed, Aviation Daily reports.
The next three to six weeks appear critical. In that period Administrator
Eberhard Braun said he plans to complete negotiations with Dimeling, Schreiber &
Park for the sale of the 328JET program and the product support division. He is
also negotiating with a Swiss aerospace company-believed to be RUAG aerospace-
for the AIRBUS components division. BASIC ELEMENT and IRKUTSK AIRCRAFT
PRODUCTION ORGANIZATION (IAPO) may no longer be the only consortia to make
formal offers. AVIATION FINANCE CONSULTING of Switzerland and former Fairchild
Dornier executive Earl Robinson have provided documents on financing. Braun
wants transactions to be completed by Jan. 1
Decisions on the sale of FAIRCHILD DORNIER, which were expected at the Nov. 5
meeting of the creditors' committee, have been delayed, Aviation Daily reports.
The next three to six weeks appear critical. In that period Administrator
Eberhard Braun said he plans to complete negotiations with Dimeling, Schreiber &
Park for the sale of the 328JET program and the product support division. He is
also negotiating with a Swiss aerospace company-believed to be RUAG aerospace-
for the AIRBUS components division. BASIC ELEMENT and IRKUTSK AIRCRAFT
PRODUCTION ORGANIZATION (IAPO) may no longer be the only consortia to make
formal offers. AVIATION FINANCE CONSULTING of Switzerland and former Fairchild
Dornier executive Earl Robinson have provided documents on financing. Braun
wants transactions to be completed by Jan. 1
Thursday, November 07, 2002
NEW LINES: AIC is now the world wide distributor for Avionix, a manufacturer of high quality back up altimeters and air speed indicators for the Corporate and regional markets. We are seeing a lot of interest in the product line from companies involved in upgrading older aircraft to meet the RVSM Reduced Vertical Separation Minimum requirements.
Tuesday, October 15, 2002
Wednesday, July 03, 2002
Thursday, June 27, 2002
Tuesday, June 18, 2002
The fact that our team is in the quarterfinals and most Americans are completely oblivious is especially grating to those we have defeated. Yesterday, police had to break up Mexicans who were gathered at the border crossing from El Paso to Juarez, because they were throwing rocks at cars with American license plates – and the Americans had no idea why it was happening!
This is a serious problem. We play an elimination match against Germany on Friday morning. The game starts at 7am EDT, and will be broadcast live on ESPN2. It lasts about two hours. You can afford to be a little bit late for work on Friday. Heck if you’re on the West Coast like me, you can just wake up early and still make it to work on time. But the important thing is that we should celebrate big time in the unlikely event that we win, or we’ll be in big trouble with the Germans – not to mention the Mexicans, who are already on the verge of declaring war. If we lose (which we probably will), we need to be visibly upset at everything German, and crying in the streets. We should all resolve to wear black for a week, and boycott German beer. It's our patriotic duty.
This is the natural order of things – we upset it at our own peril.
This is a serious problem. We play an elimination match against Germany on Friday morning. The game starts at 7am EDT, and will be broadcast live on ESPN2. It lasts about two hours. You can afford to be a little bit late for work on Friday. Heck if you’re on the West Coast like me, you can just wake up early and still make it to work on time. But the important thing is that we should celebrate big time in the unlikely event that we win, or we’ll be in big trouble with the Germans – not to mention the Mexicans, who are already on the verge of declaring war. If we lose (which we probably will), we need to be visibly upset at everything German, and crying in the streets. We should all resolve to wear black for a week, and boycott German beer. It's our patriotic duty.
This is the natural order of things – we upset it at our own peril.