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Magazine Issue

Aviation Daily, December 19, 2014

VOL. 399 NO. 53 December 19, 2014
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Airlines

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India’s SpiceJet Resumes Services After Temporary Grounding

Dec 19, 2014
NEW DELHI—The future of cash-strapped Indian private carrier SpiceJet appears bleak as lenders show reluctance, despite requests from the government, to provide short-term working-capital loans of up to 6 billion rupees ($94.2 million). Notwithstanding relief measures announced by the government, the beleaguered airline was forced to ground its entire fleet on Dec. 17 for over 10 hours, after oil-marketing companies refused to refuel SpiceJet’s aircraft due to non-payment of dues.
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BTS: $3 Billion In 3Q Net Profits For Rop 10 U.S. Passenger Airlines

Dec 19, 2014
The 10 largest U.S. scheduled passenger airlines collectively reported net income of $2.99 billion in the 2014 third-quarter, down 13.8% from 2Q 2014 net profits of $3.5 billion but nearly matching (down by 0.5%) the $3 billion in net income the 10 carriers posted in the 2013 third-quarter, according to the U.S. Bureau of Transportation Statistics’ (BTS) quarterly Airline Financial Data report. Total third-quarter operating profit for the 10 airlines was $5.2 billion, up 15% on the $4.5 billion in operating profit the airlines reported in the year-ago quarter.
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Sichuan Airlines Negotiating For At Least 10 A330s

Dec 19, 2014
BEIJING—Sichuan Airlines, expanding international services with financial backing from the Chengdu city government, is negotiating for at least 10 Airbus A330s, two industry officials in China say.
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Aer Lingus Board Rejects IAG Offer

Dec 19, 2014
International Airlines Group (IAG) on Dec. 18 confirmed it made a bid for Aer Lingus, which the board of the Irish airline has rejected. Aer Lingus said it had received a “preliminary, highly conditional and non-binding approach from IAG” on Dec. 14. The airline’s board “has reviewed the proposal and believes that it fundamentally undervalues Aer Lingus and its attractive prospects.” Therefore, the proposal was rejected on Dec. 16. The airline added that “shareholders are strongly advised to take no action.”

Airports

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Fort Wayne International Airport Says Incentive Plan Has Worked

Dec 19, 2014
Fort Wayne International Airport (FWA) in Indiana expects to record year-over-year passenger growth for the fifth consecutive year, in part because of an aggressive incentive program it offered to US Airways, the airport’s director said.
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Heathrow Completes Sale Of Aberdeen, Glasgow and Southampton Airports

Dec 19, 2014
LONDON—Heathrow Airport Holdings has closed its sale of Aberdeen, Glasgow and Southampton airports, to a consortium of Ferrovial and Macquarie. The £1.048 billion ($1.68 billion) deal, first announced in October, formally closed on Dec. 18.

FuelWatch

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Global Jet Fuel Prices (midpoint)* As of December 18, 2014, compared with previous week and previous year

Dec 19, 2014
cts/gal prev. week prev. year NY Jet Barges 197.55 -7.43 -102.60 Chicago Jet 192.30 -14.18 -101.95 West Coast (LA) Jet 184.30 -9.68 -117.20 Europe: Rotterdam Jet (Barges) 187.55 -8.37 -114.60 Asia/Pacific (Singapore Kero) 176.38 -15.79 -121.79 *All prices cts/gal All data, except for Asia/Pacific, represent latest spot price data as of Wednesday. Asia/Pacific data represent latest spot price data as of Thursday.

Airframers/Suppliers

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Boeing Boosts Share Buyback, Dividend

Dec 19, 2014
Boeing said it would buy back $12 billion worth of public shares, announcing the board-approved repurchase authorization after Wall Street closed for regular trading. The repurchase authorization replaces a 2013 plan, of which $4.8 billion remained. Share repurchases for 2014 totaled $6 billion, but are expected to resume in January, Boeing said. The Chicago company raised its regular quarterly dividend by 25%, to $0.91 per share.
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U.S. Aerospace Future Seen As Murky Despite Profitable 2015

Dec 19, 2014
Although aerospace companies had a better year this year than last, next year is less clear, next year looks a little less certain, the Aerospace Industries Association (AIA) says. Noting that FAA reauthorization is coming up again and voicing concerns about the kinds of issues that delayed reauthorization before, AIA President Marion Blakey said during a Dec. 17 luncheon, “We’re looking for a solid bill.” NextGen Funding

Industry Data

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Ranking of Major Airport On-Time Arrival Performance in September 2014

Dec 19, 2014
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