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☆ British Airways-owner IAG sees travel rebound lifting forecasts
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +1 min

LONDON, May 5 (Reuters) - British Airways-owner IAG (ICAG.L) said strong ticket sales for summer travel and a winter season which beat expectations meant 2023 profit would come in above its previous forecasts. IAG's positive outlook is in line with Europe's major airlines. Lufthansa, easyJet and Ryanair have all pointed to robust summer bookings, showing consumers prioritising travel spend despite high inflation and an uncertain economic outlook. Air France-KLM (AIRF.PA) on Friday reported better-than-expected first-quarter revenue and said it was seeing strong summer ticket sales. It posted an operating profit before exceptional items of 9 million euros, well above the 179 million euro loss expected by analysts.

Strikes have rolled through France, Portugal, Britain and Germany in recent weeks and could cause air travel disruption in parts of Europe through the Easter holidays, officials at airlines, airports and air traffic authorities told Reuters. There's no doubt about it," said Steven Moore, who is in charge of air traffic management operations at Eurocontrol. Airlines say they have to pay compensation without themselves getting compensated for air traffic delays. Consumer groups say air traffic control strikes are not new and airlines should be quicker to react and pay compensation. He called last week on the European Commission to do more to stop such strikes hitting overflights, by introducing minimum service rules, though industry experts say strikes are a national issue.

☆ EasyJet cabin staff in Portugal plan early April strike over pay
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +1 min

LISBON, March 17 (Reuters) - EasyJet (EZJ.L) cabin staff in Portugal will go on a three-day strike in early April to demand higher wages to compensate for the soaring cost of living, the SNPVAC union of civil aviation flight personnel said on Friday. Workers at the British low-cost airline, who also seek better working conditions, are planning to walk out between April 1-3. "Due to the economic climate, easyJet workers have lost purchasing power over the last three years," SNPVAC said in a statement. "The increase in the cost of living suffocates workers and jeopardises the well-being and comfort of their families." Reporting by Patricia Vicente Rua; Editing by Andrei Khalip and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

☆ KLM, airline industry to fight Schiphol Airport flight cap in court
▼ + stars: | 2023-03-03 | by ( Tosterling Charlotte Campenhout | Charlotte Campenhout | ) www.reuters.com time to read: +3 min

AMSTERDAM, March 3 (Reuters) - KLM and other airlines on Friday said they are suing the Dutch government over plans to cap the number of annual flights allowed at Amsterdam's Schiphol Airport, saying it would hurt them, the Dutch economy and travellers. Others joining the KLM suit include Delta Airlines, easyJet, TUI and Turkey's Corendon Airlines. But the decision to cap the flights cited noise and air pollution concerns, not traveller's' distress. Schiphol Airport Group, which was also issued a summons in the KLM-led case, said it "regretted" the suit. Last month the airport said it would impose a 66,000 passenger per day cap for the 2023 May vacation period due to still-unresolved labour shortages.

☆ An easyJet pilot did a loop over the sea to give everyone on board an incredible view of the Northern Lights
▼ + stars: | 2023-02-28 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +3 min

A pilot made a mid-flight loop on Thursday so that all passengers could see the Northern Lights. One newly engaged couple was able to see the lights after missing them during their Iceland trip. "Our crew will always go above and beyond for our customers and we're delighted to have been able to share this special view of the Northern Lights with them," an easyJet spokesperson said. FlightAware, InsiderOne passenger who was on the flight told Insider that being able to see the Northern Lights was particularly meaningful for him. Adam Groves wanted to propose under the Northern Lights, but did so on the south coast of Iceland in daylight instead.

☆ Rolls-Royce strategy bind is a problem best shared
▼ + stars: | 2023-02-23 | by ( Pamela Barbaglia | ) www.reuters.com time to read: +4 min

That’s way better than the 1.5 billion pound cash outflow in 2021, but also four times what analysts had expected. Even so Rolls, which makes 45% of its revenue from making, selling and servicing commercial aircraft engines, is on the wrong side of the energy transition. But reaching net zero emissions by 2050 may involve ditching gas turbines entirely. One solution could come from hydrogen-powered fuel cell engines - Rolls clinched a partnership with easyJet (EZJ.L) in July to carry out a joint project to test a hydrogen engine. Rolls-Royce’s plans to reach net zero emissions by 2050 date back to 2021.

☆ UK regional airline Flybe to wind down as rescue talks collapse
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Flybe to wind down business as rescue talks endFurther 25 jobs affectedFeb 15 (Reuters) - British regional airline Flybe will wind up its business after rescue talks fell through, its joint administrators said on Wednesday, a month after the company cancelled all flights and entered insolvency proceedings for a second time in three years. The pandemic and resulting lockdown pushed Flybe into administration for the first time in March 2020, affecting 2,400 jobs. After administrators were appointed again in late January 2023, Birmingham Headquartered Flybe made 276 workers redundant. Flybe, which operated flights on 21 routes to 17 destinations across the UK and Europe, said a further 25 jobs would now be affected. Lufthansa declined to comment on the matter on Wednesday, while Air France-KLM did not immediately respond to a request for comment.

☆ TUI sees strong summer bookings as travel recovery gains momentum
▼ + stars: | 2023-02-14 | by ( Joanna Plucinska | ) www.reuters.com time to read: +2 min

LONDON, Feb 14 (Reuters) - Holiday group TUI (TUIGn.DE), said on Tuesday it was seeing a positive travel recovery trend for the upcoming summer season as holidaymakers make plans to enjoy their breaks following a pandemic hiatus. Upcoming bookings for the 2023 winter and summer seasons hit 8.7 million. Low-cost airlines such as Ryanair, Wizz Air and easyJet all reported strong summer bookings earlier this year. Revenue improved by 1.4 billion euros to 3.8 billion euros year-on-year, with a growth of around a million guests to 3.3 million from the previous quarter. Separately, TUI shareholders are expected later on Tuesday to vote on a capital increase plan to repay Germany's Economic Stablisation Fund.

LISBON, Feb 1 (Reuters) - Europe was entering an "inevitable" post-pandemic period of airline consolidation as legacy flag-carriers struggle to navigate through a competitive landscape, the chief executive of low-cost carrier Ryanair (RYA.I) said on Wednesday. "We are definitely, post-COVID, entering a four or five-year period of consolidation," Ryanair's Michael O'Leary told Reuters on the sidelines of a news briefing in Portugal's capital Lisbon. Many of Europe's legacy airlines are finding it tough to effectively compete with budget carriers, hampered by weak balance sheets that could be made more robust by merging with rivals, analysts have said. Lufthansa, Air France-KLM and British Airways owner IAG are potential buyers, according to analysts. O'Leary said he believed the sector in Europe would move towards having four large airlines: Lufthansa, Air France-KLM (AIRF.PA), IAG and and Ryanair.

☆ Ryanair posts record Christmas quarter, sees 'very robust' summer demand
▼ + stars: | 2023-01-30 | by ( ) www.cnbc.com time to read: +2 min

Ryanair on Monday posted its largest after-tax profit for the October-December quarter and said bookings for Easter and summer flights in recent weeks were "very robust", boosted by demand from Asian travelers and a strong U.S. dollar. "We had record bookings in week two and week three of January, very robust demand into Easter and the summer without fare stimulation," he said. The Irish airline, Europe's largest by passenger numbers, said it had earned 211 million euros ($229.40 million) in the three months ended Dec. 31, the third quarter of its financial year. "With Asian tourists now returning and a strong U.S. dollar encouraging Americans to explore Europe, we're seeing robust demand," Chief Executive Officer Michael O'Leary said in a statement. Last week, rivals Wizz Air and EasyJet reported strong summer bookings.

"Flybe has now ceased trading and all flights from and to the UK operated by Flybe have been cancelled and will not be rescheduled," it said. A spokesperson for administrators Interpath Advisory said about 75,000 Flybe customers had future bookings that would now not be honoured. Headquartered in Birmingham, Flybe operated flights on 21 routes to 17 destinations across the UK and Europe using a fleet of eight leased Q400 turboprop aircraft. A spokesperson for Interpath said 45 members of Flybe's 321-strong workforce had been retained for the time being. Louise Haigh, the opposition Labour Party's transport spokesperson, said Flybe's collapse was "devastating news" for staff and customers.

☆ Wizz Air sees strong summer, but more wary than rivals
▼ + stars: | 2023-01-26 | by ( Sarah Young | ) www.reuters.com time to read: +2 min

[1/2] People stand next to a Wizz Air aircraft at Ferenc Liszt International Airport in Budapest, Hungary, August 18, 2022. Low cost rivals Ryanair (RYA.I), Europe's biggest airline, and Britain's easyJet (EZJ.L) have reported record bookings for summer holidays, in a sign that consumers are still keen on trips despite a looming recession. Asked if Wizz had seen the same, CEO József Váradi said: "Bookings are strong, but I don't want to get over-excited." Separately on Thursday, British airline and holiday group Jet2 (JET2.L) upgraded its annual profit forecast after strong demand for winter holidays and said bookings for the summer were encouraging. For the new financial year, Wizz will benefit from hedging and new capacity, forecasting growth of 25% to 30% this summer versus last, helping unit costs to improve.

☆ Europe Inc earnings offer market optimists more hope
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +5 min

Shares in ASML were lower after the results, having rallied recently to hit their highest since last April. Helped by strong orders in Europe, French train maker Alstom (ALSO.PA) posted an 8% rise in third-quarter sales. While it is still early in the corporate earnings season, the results offer some hope that recent economic data which has buoyed equities this month is grounded in reality. Swiss asset manager GAM (GAMH.S) meanwhile warned on profits after experiencing negative asset flows, knocking its shares 2.5% lower in early morning trading. ($1 = 0.8115 pounds)Reporting by Reuters newsroom; Writing by Josephine Mason; Editing by Catherine EvansOur Standards: The Thomson Reuters Trust Principles.

☆ Tech drags European stocks lower on earnings jitters
▼ + stars: | 2023-01-25 | by ( Ankika Biswas | ) www.reuters.com time to read: +3 min

The pan-European STOXX 600 (.STOXX) fell 0.3%, heading lower for a second day with technology (.SX8P) and telecom (.SX8P) declining the most. "The weak outlook painted by Microsoft is weighing on the wider tech sector," said Michael Hewson, chief markets analyst at CMC Markets in London. European stocks came under pressure on Tuesday, as an improvement in economic activity spurred speculation that the European Central Bank (ECB) might have more room to raise interest rates to tackle inflation. Boosting UK stocks, EasyJet PLC (EZJ.L) jumped 10.6% after projecting it would beat current market expectations for 2023 and deliver a full-year profit. Reporting by Ankika Biswas in Bengaluru; Editing by Subhranshu Sahu and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Strong bookings put EasyJet on path to full-year profit
▼ + stars: | 2023-01-25 | by ( Joanna Plucinska | ) www.reuters.com time to read: +2 min

LONDON, Jan 25 (Reuters) - EasyJet (EZJ.L) on Wednesday said it expected to beat current market expectations for 2023 based on the strength of bookings into summer and was set to deliver a full-year profit, fueling cautious optimism for an aviation sector set on recovery. EasyJet Holidays also upgraded expectations from 30% customer growth to around 50% year-on-year and said the airline had almost 50% more customers than last year. Ryanair (RYA.I), Europe's biggest airline and a low-cost competitor for easyJet, said earlier this month it was expecting a very strong summer season with a reasonable prospect of average European short-haul air fares rising by a high single digit percentage. "Airline reporting season starts optimistically, and we expect easyJet to be the first of several strong prints. Earlier guidance looks overly cautious and numbers will need to come up," Bernstein analyst Alex Irving said in a research note.

☆ Strong bookings put easyJet on path to full-year profit
▼ + stars: | 2023-01-25 | by ( Joanna Plucinska | ) www.reuters.com time to read: +2 min

☆ European shares slip as investors weigh earnings reports
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +1 min

Jan 25 (Reuters) - European stocks inched lower on Wednesday as investors assessed a slew of earnings reports including chip equipment maker ASML's, while fears of more interest rate hikes kept investors on edge. The pan-European STOXX 600 (.STOXX) fell 0.2% by 0816 GMT, with technology (.SX8P) and financials declining the most. Shares of ASML Holding NV (ASML.AS) lost 2% and were among the top drags on the STOXX 600, despite forecasting sales growth of more than 25% for 2023. Lonza Group AG (LONN.S) fell 2.8%, even as the Swiss drug contract manufacturer reaffirmed its longer-term growth prospects. Investors will monitor Germany's 2023 annual economic report in Berlin due at 1315 GMT amid easing fears of a recession in the euro zone's largest economy.

Lufthansa has offered to buy an initial minority stake in ITA, Italy's state-owned successor to Alitalia, it said on Wednesday. "This may be the next step in European airline consolidation," said Bernstein analyst Alex Irving, citing Portugal's national airline, TAP, as a prime target. Lufthansa, Air-France KLM (AIRF.PA) and British Airways owner IAG (ICAG.L) are potential buyers, analysts said. "At the same time, however, we closely monitor consolidation in the European airline market." Michael O'Leary, the outspoken CEO of fellow low-cost airline Ryanair (RYA.I), also weighed in with his predictions this week.

☆ European shares muted, UK outperforms as China-exposed stocks jump
▼ + stars: | 2022-12-28 | by ( Bansari Mayur Kamdar | ) www.reuters.com time to read: +3 min

The region-wide STOXX 600 (.STOXX) was flat as of 9:31 GMT, while the FTSE 100 <.FTSE> advanced 0.7% as commodity-linked and China-exposed stocks jumped in early trading. The UK market, which was closed for holidays since its half-day trading on Friday, is playing catch-up, analysts said. The FTSE 100 index has benefited this year from its exposure to commodities as prices of oil and base metals have rallied amid the Russia-Ukraine war. Meanwhile, STOXX 600 was headed for an annual loss of 12.2% as concerns about an economic recession due to aggressive monetary policy tightening by central banks globally weighed on the European index. The technology sector (.SX8P) weighed on STOXX 600 on Wednesday, tracking the overnight fall in U.S. peers as rising yields pressured the interest rate sensitive shares, a recurring theme this year.

☆ Holiday travelers are trapped in an Iceland airport because snow-covered roads prevented them from getting to their hotels — or out of the country
▼ + stars: | 2022-12-21 | by ( Rebecca Cohen | ) www.businessinsider.com time to read: +5 min

Travelers are stuck in an Icelandic airport after a blizzard dumped snow on the country. Keflavík Airport, easyJet, and Icelandair did not immediately respond to Insider's requests for comment. Despite multiple warnings from The Icelandic Meteorological Office, Iceland's government, and The Foreign Office, passengers told NBC that the airlines seemed under-prepared and barely communicated through the chaotic weekend of cancelations. Ryan Stevens, a traveler from London who is still stuck in Iceland, told Insider that Icelandair poorly handled the situation. Stevens is out 1,500 euros due to three nights in a hotel and two additional booked flights and said he hasn't heard anything about reimbursements or assistance.

☆ Airlines can price climate change into your plane ticket. There are reasons to not buy it
▼ + stars: | 2022-12-17 | by ( Trevor Laurence Jockims | ) www.cnbc.com time to read: +11 min

United Airlines , for example, has committed to net zero carbon by 2050 without any contribution from traditional carbon offsets. Southwest Airlines ' "Wanna offset carbon?" Consumer psychology and the environmentIt's not just about the dollar amount of the carbon offset purchase in the consumer psychology. If airline travelers want to stay environmentally conscious without paying carbon offset fees, Keyes recommends choosing cheaper airlines when traveling. "It's true that we all have a part to play in reducing carbon emissions.

☆ UBS says shares in this global airline are set to soar by 55%
▼ + stars: | 2022-12-07 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Shares of London-listed airline easyJet are set to soar by 55% over the next year, according to UBS. The Swiss investment bank raised its price target to £6 ($7.34) a share after hiking its forecasts for passenger traffic and profitability at the pan-European airline. EasyJet's shares were trading at £3.87 on Tuesday afternoon, about 70% below its pre-pandemic levels. A recent decline in global oil prices and the dollar index works favorably for easyJet, analysts at UBS said. UBS forecasts the airline will reach 91% of its 2019 passenger volumes next year and return to pre-pandemic levels in 2026.

☆ Explainer: Why U.S. airline pilot wages are outpacing global rises
▼ + stars: | 2022-12-05 | by ( Jamie Freed | ) www.reuters.com time to read: +4 min

U.S. domestic demand was only 0.8% below than 2019 levels in October, while globally, domestic travel demand was 22.1% lower. REGIONAL PILOT SHORTAGEThe steep pay rise on offer to Delta pilots follows a series of large increases at U.S. regional airlines that serve as feeders to major carriers. Uniquely among world markets, the United States requires pilots even at regional airlines to have a minimum of 1,500 hours of flying experience. Faced with growing shortages of entry-level pilots and rapid attrition of more experienced ones to major airlines, U.S. regional carriers have lifted pay rapidly. The increases put pressure on major airlines to ensure their entry-level pay attracts joiners from regional carriers to cover retirements and planned fleet growth.

☆ Rolls-Royce uses hydrogen produced with wind and tidal power to test jet engine
▼ + stars: | 2022-12-02 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +4 min

The test used a converted regional aircraft engine from Rolls-Royce, with hydrogen produced at the European Marine Energy Centre in Orkney. LONDON — Plans to reduce the significant environmental effects of aviation took a step forward this week after Rolls-Royce and easyJet said they had carried out the ground test of a jet engine that used hydrogen produced from tidal and wind power. The test, which was carried out at an outdoor site in the U.K., used a converted regional aircraft engine from London-listed Rolls-Royce. "This is a true British success story, with the hydrogen being used to power the jet engine today produced using tidal and wind energy from the Orkney Islands of Scotland," Shapps added. Using hydrogen to power an internal combustion engine is different to hydrogen fuel cell technology, where hydrogen from a tank mixes with oxygen, generating electricity.

☆ FTSE 100 at three-month highs on hopes of China easing COVID curbs
▼ + stars: | 2022-11-29 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

The blue-chip FTSE 100 (.FTSE) was up 0.6%, hitting its highest since Aug. 26, while the domestically-focused FTSE 250 midcap index (.FTMC) was flat. World markets were rattled on Monday as protests against strict COVID-19 restrictions flared up in major Chinese cities over the weekend. Base metal miners (.FTNMX551020) climbed 2.8%, touching three-month highs, as prices rebounded on support for the property sector in top metals consumer China. Heavyweight energy stocks (.FTNMX601010) rose 1.4% as oil prices climbed on hopes of China easing its COVID controls. Reporting by Shashwat Chauhan in Bengaluru; Editing by Saumyadeb Chakrabarty and Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

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