airberlin signed (25-Nov-2010) a USD700 million package deal with ICBC Financial Leasing Co covering 18 used and new narrowbody aircraft. The deal consists of two parts: an outright sale of four B737-800s and six A320s and sale-and-lease-back of two A319s, two A320s and four B737-800s. All aircraft are powered by CFM International engines. The agreement was partially closed in Sep-2010. Both companies are looking forward to the execution of the majority of these transactions in 2011 and 2012. [more]
airberlin and ICBC Financial Leasing sign a package deal for 18 aircraft
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airberlin: another record loss, but "Jack of all trades" may have a chance to escape Groundhog Day
The German airline airberlin made another record loss in 2016 and has reported net losses in eight of the past nine years. It has lost a cumulative EUR1.9 billion in the five years since Etihad became a shareholder. The only small net profit, in 2012, was because Etihad bought its loyalty scheme. The first results for this year show that losses worsened in 1Q2017.
The better news is that, with shareholder Etihad's support, airberlin has sufficient liquidity to continue, and it has a restructuring plan with a new CEO. If the story of losses, Etihad support, restructuring and a new CEO sounds familiar, it is because it is. Airberlin has been through this almost as many times as Bill Murray in Ground Hog Day.
Crucially, though, the latest restructuring does seem genuinely radical. As new CEO Thomas Winkelmann has said, airberlin used to be a "Jack of all trades", but master of none. Past restructurings made it a Jack of fewer trades, but never fully resolved this lack of focus. The current plan brings it focus as a network airline – scaling down, and largely exiting from leisure. There is still much execution to be done, and competitive conditions are unlikely to ameliorate, but Mr Winkelmann may have a better chance than his predecessors.
Europe summer 2017 airline capacity outlook: fifth successive summer of above trend seat growth
Airline seat growth from Europe in summer 2017 is set to stay at almost 6% for the third successive summer, according to data from OAG. This rate had not previously been reached since 2010, although this will be the fifth straight summer of growth ahead of its 10 year average rate. The summer 2017 season started on 26-Mar-2017 and, although always subject to further change, the data give a fairly clear picture.
Seat capacity on routes from Europe to Africa will grow the fastest, as the region recovers from a terrorism related drop in demand in North Africa. There will also be above trend growth in almost every other region from Europe (including intra Europe). The only exception is Europe-Middle East, where the newly cautious Gulf airlines' growth is slowing this summer.
On the North Atlantic, always important for the profitability of Europe's leading legacy airlines, growth will be faster than its 10 year trend, but it will at least be a little slower than in the past summer. The loss of market share from the immunised North Atlantic JVs to newer and smaller competitors, including LCCs, is set to continue. As ever, the OAG capacity data provide a window into the changing structure of the airline markets from Europe.