US DoT accords tentative approval for four routes to Tokyo Haneda Airport: Airport Share Wrap
The US Department of Transportation (DoT) granted tentative approval for American Airlines, Delta Air Lines and Hawaiian Airlines to operate four new routes to Tokyo Haneda when the airport’s fourth runway becomes operational in late-2010.
The opportunities were negotiated in connection with the US-Japan Open Skies agreement concluded in Dec-2009. They permit US carriers to introduce a total of four daily round-trip services at Haneda. If the proposed decision is made final, the selected carriers would be required to commence Haneda operations by 29-Jan-2011. Objections to the show-cause order are due in ten days and answers to objections are due seven days later. After the comment period ends, the department will issue a final decision.
The following route applications were made:
- Hawaiian Airlines' route application to the DoT proposes twice-daily Honolulu-Haneda service commencing late Oct-2010 initially with B767-300ER aircraft, before adding its A330-200 aircraft onto the route;
- American Airlines plans to operate daily New York-Haneda service commencing 01-Oct-2010;
- Delta welcomed the approval to commence services from Los Angeles and Detroit;
- Continental Airlines which applied with Continental Micronesia, filed for routes from Newark Liberty Airport and Guam. United Airlines sought service from San Francisco but both carriers were denied the flights they sought. Transportation Department spokesman Bill Mosley said the recently announced merger was not a factor in the decision.
Australian Infrastructure Fund raises USD80m to acquire additional 2.21% stake in Australia Pacific Airports Corp
Shares in Australian Infrastructure Fund (AIX) fell 7.6% on the completion of the airport operator’s placement of approximately 44 million new securities at an issue price of AUD1.82 per new security, raising approximately AUD80 million. The placement was well supported with demand from both existing and new institutional investors. As previously announced, the funds raised will be used to acquire an additional 2.21% stake in Australia Pacific Airports Corporation (APAC). The balance of the capital raising will be used for transaction costs and general purposes. The new securities are expected to settle on 13-May-2010 with quotation on 14-May-2010.
European investors uncertain
Europe’s sovereign debt crisis and a second round of volcanic ash-related airspace/airport closures on Friday contributed to uncertainty for investors, as witnessed by Friday’s downward trend in share price movements. Of the European operators, TAV Airports dropped 8.3%, GEMINA lost 6.8%, Copenhagen fell 5.6%, Vienna closed 5.4% lower, Zurich was down 5.1%, while Aeroporto Toscano dipped 0.2%.
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Selected airports daily share price movements (% change): 07-May-2010