Jazz Air Income Fund converts to new holding company; American/JAL receive DoT approval
Jazz Air Income Fund announced details of the proposed conversion of the fund from an income trust to a corporate structure pursuant to a court-approved arrangement.
- Jazz Air Income Fund to convert from an income trust to a corporate structure, with units exchanged for shares in Chorus Aviation.
- American Airlines and Japan Airlines receive tentative approval for antitrust immunity to cooperate on services between Asia and North America.
- LAN Airlines reports a 14.3% increase in passenger numbers, with growth in both domestic and international segments.
- Copa Holdings sees an 8.3% rise in passenger traffic, with a decrease in load factor.
- Delta Air Lines' stock declines, while Republic Airways and TAM experience slight increases.
- Overview of selected North and South American airlines' daily share price movements.
Subject to the receipt of certain approvals, units of the fund will be exchanged for shares in the capital of a new public corporation, Chorus Aviation, and the fund's obligations with respect to its outstanding convertible debentures will be assumed by Chorus. The arrangement is expected to be completed on 31-Dec-2010.
JAL and American Airlines receive tentative DoT approval
American Airlines and Japan Airlines received tentative US Department of Transportation approval for antitrust immunity allowing the carriers' to cooperate on services between Asia and North America under the Open Skies agreement between the countries. The airlines await a final approval to commence daily New York-Tokyo service on 20-Jan-2010, with Japan Airlines to launch Tokyo-San Francisco service on 31-Oct-2010.
LAN pax up 14.3%; Copa reports 8.3% rise
LAN Airlines passenger numbers up 14.3% - traffic highlights in Sep-2010:
- Passenger numbers: 1.5 million, +14.3% year-on-year;
- Domestic: 920,000, +12.8%;
- International: 553,000, +16.8%;
- Load factor: 79.8%, +1.0 ppt;
- Domestic: 78.1%, +1.2 ppts;
- International: 80.4%, +0.9 ppt.
Copa Holdings reports (08-Oct-2010) the following traffic highlights in Sep-2010:
- Passenger traffic (RPMs): +8.6% year-on-year;
- Copa Airlines: +8.3%;
- Aero Republica: +10.5%;
- Load factor: 70.5%, -4.9 ppts;
- Copa Airlines: 71%, -5.9 ppts;
- Aero Republica: 67%, +0.5 ppt.
See related CAPA Profile: Traffic - Airports
Elsehwhere, Delta Air Lines (-3.1%) declined, while Republic Airways (+0.7%) and TAM (+1.4%) were up.
North & South America selected airlines daily share price movements (% change): 08-Oct-2010
