Adrian is Auckland bureau chief for Aviation Week, based in New Zealand. He covers commercial aviation in the Asia-Pacific region.
Adrian was previously based in Aviation Week’s Washington office for nine years, writing for a range of the group’s publications and covering many aspects of the commercial aviation industry. He has won Australasian and international awards for his aviation writing.
Prior to joining Aviation Week in 2002, Adrian covered aviation industry and policy issues for two other publishing companies in Washington. He has also worked for newspapers in Texas and New Zealand, covering a wide range of topics. Adrian graduated from Auckland University with a degree in history and English in 1992.
Continental this month plans to put another 18 million shares on the market, which is expected to boost the carrier's yearend available cash to $1.6 billion, up from the $1.4 billion it predicted before the share offering was announced late Tuesday. The Class B common stock offering will be underwritten by UBS Warburg, which also has a 30-day option to buy another 2.7 million shares to cover over-allotments. The shares will be issued Oct. 24 at a price of $11.35 each. The airline's basic share count for the fourth quarter will be 81.1 million.
Air New Zealand yesterday announced plans to outsource maintenance for its entire long-haul fleet, which would also mean cutting about 600 jobs, the airline said. The carrier said the proposal calls for maintenance for its 747s, 767s and new 777s to be "outsourced to a specialist, large-scale maintenance center in Asia or Europe." ANZ said it will decide whether to adopt the proposal by Dec. 19, after consultation with unions. The outsourcing would save the airline about NZ$100 million ($69.8 million) over five years.
Continental yesterday reported a $61 million profit, including special items, for the third quarter, while repeating its forecast of a significant loss for the fourth quarter and the full year. The third-quarter result is a major improvement from last year's $18 million loss. The carrier posted an operating profit of $109 million, up $87 million from last year. Passenger revenue rose 15.3% to $2.8 billion, and consolidated yield grew 5.6%. Total revenue was $3 billion for the quarter.
