Aeropuertos Argentina 2000 reported (13-Nov-2012) passenger numbers through its airports increased 13.2% year-on-year to 2.2 million in Oct-2012. Buenos Aires Ministro Pistarini Airport reported the highest growth of 10.9% to 767,824 passengers while Buenos Aires Jorge Newbery Airport passenger numbers increased 9.7% to 788,705 during the month. [more – original PR – Spanish]
Aeropuertos Argentina 2000 reports 13% pax increase in Oct-2012
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Norwegian Air back in profit, signals aggressive long haul expansion. DoT help would be welcome
Norwegian resumed positive financial progress in 2015, returning to profit after two years of deteriorating results, including losses in 2014. The positive results of 2015 are welcome, but Norwegian's margins were unimpressive by comparison with other leading European LCCs. Even SAS achieved a higher operating margin in 2015.
Norwegian's profit slide coincided with the launch of its long haul network in 2013, and the recovery has coincided with the fall in fuel costs. This, together with a lack of separate data by network, makes it impossible to assess the relative profitability of the different parts of its network.
Nevertheless, Norwegian remains firmly committed to long haul, which it plans to grow at an average ASK growth rate of 40% pa to 2020, compared with 10% pa for short haul. Although not conditional on US approval of applications for traffic rights by its Irish and UK subsidiaries, its long haul growth options would be wider if 2016 became the year when it finally received this approval.
Finnair: back in profit and set to reap benefits of A350-led fleet upgrade and labour productivity
Finnair returned to profit in 2015, thanks in no small part to lower fuel prices. This was only its third positive result since before the global financial crisis, and it continues to lag the industry in its profitability. Nevertheless, its returns to profit and to both capacity and revenue growth are important markers on its financial progress. Perhaps more significantly, in a sector accustomed to thin margins where liquidity and balance sheet strength are vital, Finnair has moved into a net cash position.
However, Finnair's revenue was still below where it was in 2013, and its operational margin lagged far behind the rest of the global airline industry, which was collectively reaching an estimated new peak margin in 2015.
Finnair's return to profit and revenue growth is welcome, but it still has much to do. CEO Pekka Vauramo recognises this, saying, "we will now look to accelerate our profitable growth". Strong labour productivity improvements in recent years have provided a good basis for this. Finnair's fleet improvement programme, led by A350 deliveries that started in 2015 and will continue to 2023, should also be beneficial.