Deutsche Bank is a leading global investment bank. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 81,000 employees in 72 countries, Deutsche Bank offers financial services throughout the world and is active in aviation finance.
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Australian airports operator MAp has advised it has entered into exclusive negotiations following receipt of a non-binding, highly conditional Asset Swap Proposal (ASP) from Ontario Teachers’ Pension Plan Board (OTPP). The Proposal involves the potential sale of MAp’s non-controlling interests in Brussels Airport and Copenhagen Airports in exchange for OTPP’s 11.02% interest in Sydney Airport and a net cash payment of AUD850 million.
Virgin Atlantic Airways founder Sir Richard Branson in Jan-2011 stated the carrier plans to join a global alliance with an agreement expected within 12 months in order to survive in the face of "mega alliances" and the rapid pace of consolidation among competitors. The increased consolidation activity and alliance focus has been accelerated by the global downturn that Virgin Atlantic CEO Steve Ridgway has stated has changed the industry for good.
AMR disappointed analysts on Tuesday when it reported weaker-than-expected unit revenue growth is expected for the third quarter. However, none were surprised at the report citing weak economic reports during the quarter.
The US airline industry is expected to be profitable for the first time since 3Q2007 – to the tune of USD1.7 billion – giving airlines much to celebrate as they roll out their second-quarter results this week with double-digit operating margins expected for United, Delta, Alaska and Southwest. Also this week, US President Barack Obama will sign the Restoring American Financial Stability Act of 2010, stemming commodity speculation including oil except for end users.
North and South American carriers’ stocks were mixed on Monday (14-Jun-2010) as the Dow (-0.2%) slipped late in trading. The US market had been performing well for the day, but fell in the afternoon on news Moody's Rating Agency downgraded Greece’s sovereign rating from 'A3' to 'BA1'.
There are at least a dozen airlines around the world that have publicly talked about tapping equity markets to help diversify funding sources as they seek to fill significant aircraft orders. But timing is everything and some of the IPO plans covered in this report have been around for several years, just waiting for conditions to ripen. Europe’s sovereign debt woes have however sparked a fresh wave of volatility in global equity markets, spooking investors and would-be sellers. In early May-2010, the Indonesian Government deferred the long-awaited IPO of flag carrier, Garuda Indonesia, while Philippine LCC, Cebu Pacific last month shelved its IPO until some time after national elections. Other deferrals could be forthcoming.
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