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28 total articles
18 total articles
Air traffic growth softened in Jun-2011, under pressure from rising jet fuel prices and higher tax rates in some countries. However, the trend for passenger travel remains upwards, but at a slower pace than the post recession rebound, which was at an annual rate close to 10%, IATA noted.
Ryanair, Europe’s largest airline, posted results that missed expectations in its fiscal first quarter as higher fuel costs weighed on the net result.
Two of Canada’s leading airport operators, Toronto’s GTAA and Aeroports de Montreal, released their financial report for the year ending 31-Dec-2010. Both are not-for-profit corporatised organisations, typical of the halfway house privatisation that applies to most of the major Canadian gateway airports, and one that has attracted some attention in the US. Both report EBITDA gains but AdM still trails Toronto in passenger volume by quite a margin.
Continued positive trends in passenger yields and unit revenues were reported in Feb-2011, linked to a recovery of high-fare business travel demand. However, despite improvements in the demand and yield environment, carriers are now facing a new challenge in escalating fuel costs with this pressure resulting in some of the majors announcing capacity growth reductions in the months ahead.
Airline traffic growth in India remained in the double digits in Jan-2011 with growth of 21% year-on-year to start the year. This marks two consecutive Januarys of traffic growth with domestic traffic up 106% from Jan-2006 levels. Domestic traffic is now some 48% above Jan-2009 levels, 27% above Jan-2008 levels and 44% above Jan-2007 levels.
In 2007-2008 the airlines most feared the rising cost of fuel and, especially in the US, used the expense to dramatically cut service, scale back operations, retire aircraft and reduce capacity. But the positive effects of those actions were almost immediately negated by the recession, which brought a whole new set of problems.
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