Air Berlin increases stake in NIKI; Ryanair reports continued pax growth in Jun-2010
Shares in Air Berlin remained unchanged on 05-Jul-2010, the same day the German LCC announced an increase in its shareholding in NIKI Luftfahrt GmbH, implementing the agreements notarised in Feb-2010.
- Air Berlin increases shareholding in NIKI Luftfahrt GmbH to 49.9%.
- Air Berlin acquires 25.9% of NIKI shares from Privatstiftung Lauda for EUR21 million.
- Air Berlin grants a EUR40.5 million loan to the private Lauda foundation.
- NIKI will be fully consolidated within the Air Berlin group but will remain an independent company with its own management.
- Ryanair reports a 15% increase in passenger numbers in June 2010, with an average load factor of 84%.
- Ryanair handles four times the passenger volume of British Airways in the UK/Europe market.
Air Berlin indirectly acquired 25.9% of the shares in NIKI from the Privatstiftung Lauda (private Lauda foundation), increasing its current shareholding to 49.9%, at a purchase price of EUR21 million.
Air Berlin will grant the private Lauda foundation a EUR40.5 million loan. The private foundation has the option to repay the loan in three years with cash or through the transfer of the remaining 50.1% of NIKI shares.
The carrier added that, within the Air Berlin group, NIKI would be fully consolidated. It will remain a legally independent company with its own management, while the NIKI brand will be maintained for the "foreseeable future".
Ryanair handles four times British Airways' pax volumes in UK/Europe
Meanwhile, shares in UK-listed LCCs, Ryanair, Dart Group and easyJet were all weaker yesterday, slipping 0.1%, 0.4% and 1.2% respectively.
Ryanair reported a 15% increase in passenger numbers to 6.7 million in Jun-2010, with an average load factor of 84% (a 1 ppt year-on-year reduction). Comparatively, British Airways - affected by strike action in the month - reported a 13.2% reduction in UK/European passenger levels to 1.6 million passengers or less than a quarter of Ryanair's passenger numbers, with an average load factor of 75.1%.
In the 12 months to Jun-2010, Ryanair handled 69.2 million passengers with an average load factor of 82%.
Selected LCCs daily share price movements (% change): 05-Jul-2010
Source: Centre for Asia Pacific Aviation, Yahoo! Finance & Reuters