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Oil affects share prices in US, LatAm carriers. Republic Airways suffers quarterly loss.

The USD5 per barrel jump in oil prices yesterday sent share prices of carriers listed in North and South America into a tailspin, with stocks down across the board. Worst affected was United Continental, which dipped 9.2%, with US full service carriers generally among the heaviest hit. Copa and Air Canada shares also fell sharply, although Jazz Air Income Fund ended the day flat.

Republic Airways Holdings reported the following consolidated financial highlights:

  • 3 months ended Dec-2010:
    • Operating revenue:USD649.8 million, +2.0% year-on-year;
    • Operating costs: USD613 million, +22.4%:
      • Fuel: +16.1%;
      • Labour: -6.6%;
    • Operating income: USD36.8 million, -73%;
    • Net income/loss: (USD1.3 million), compared to a net income of USD20.1 million in p-c-p.
    • Operational highlights – Branded:
      • Passenger numbers: 3.4 million, +0.6%;
      • Passenger load factor: 81.2%, +1.5 ppts;
      • Total revenue per ASM: USD10.72 cents, +6.1%;
      • Total cost per ASM: USD11.40 cents, +7.4%;
  • 12 months ended Dec-2010:
    • Operating revenue: USD2,654 million, +61.6%;
    • Operating costs: USD2,520 million, +83.9%;
      • Fuel: +160.7%;
      • Labour: +60.6%;
    • Operating income: USD133.4 million, -50.9%;
    • Net income/loss: (USD13.8 million), compared to a net income of USD36.4 million in p-c-p;
    • Fleet: 275, -5.2%;
    • Operational highlights – Branded:
      • Passenger numbers: 14.6 million, +247.7%;
      • Passenger load factor: 82.7%, +3.5 ppts;
      • Total revenue per ASM: USD10.56 cents, +0.4%;
      • Total cost per ASM: USD11.09 cents, -3.1%.

Selected AAD daily share price movements (% change): 22-Feb-2011