Air Canada this week starts installing new airport kiosks in selected stations, which will allow additional services. The new IBM N2 kiosk with passport readers and two-dimensional barcode scanners are being installed in Ottawa and Toronto Terminal 2 this week, followed by Edmonton and Winnipeg early next week. The IBM N2 kiosks will have the airline's new branding, and will eventually replace the current Express Check-In boxes.
About 25 recommendations designed to improve safety and bolster community relations at Teterboro Airport in New Jersey were formally delivered to the Port Authority of New York and New Jersey on Friday.
B/E Aerospace's earnings for the first quarter more than tripled from the company's first-quarter profits in 2005, despite logging a debt repayment charge and rising income tax expenses. Net income reached $13.8 million, compared with $4.1 million a year ago. B/E recorded a $1.8 million charge related to debt repayment and a rise in income taxes of $5.3 million. The company's operating margins grew from 10.1% to 12.6% on a rise in operating earnings from almost $20 million to $31 million.
Travelocity yesterday named Ian McCaig as the new CEO of lastminute.com, the company's European online travel and leisure group. McCaig, currently chief operating officer, will replace Brent Hoberman, the company's co-founder as Hoberman becomes part-time chairman of the group. McCaig will report to Michelle Peluso, Travelocity CEO. Hoberman "will play a key role in guiding and advising Ian on the strategy and development of the group, as well as the continuing development of its marketing and technology program."
Panama's Copa Airlines last week signed a deal to buy a new Boeing 737-800, bringing its firm order for 737s to eight, with rights of purchase for nine more. Copa also decided to acquire three new Embraer 190s, giving the airline a firm order for 13 Embraers with an option to buy 15 more. Copa will take delivery of the first Embraer 190 in this order in October 2007 and the other two in October and November of 2008. Delivery of the 737-800 is planned for October 2009.
Sydney Airport reported A$396.4 million (US$296.3 million) in earnings EBITDA for the nine months ended March 31; earnings were up 5.6% from the same period in 2005.
Midwest Airlines is in talks with Airbus and Boeing about buying A320s or 737s to replace its fleet of MD-80s and may make a decision later this year, CEO Tim Hoeksema revealed yesterday.
Resort and convention hotels in Jacksonville worried about losing business are working with the airport and the convention and visitors bureau on better air service to the Florida city.
Singapore Airlines Cargo signed a strategic alliance with Mercury Air Group, that will see Mercury buying guaranteed cargo space on Singapore flights originating in the U.S. Mercury, which provides cargo sales and support services to various North American airlines, said it will offer the guaranteed capacity to freight forwarders through its Mercury World Cargo brand.
CIT granted Timco relief on the potential default of financial covenants, while the maintenance, repair, and overhaul provider named a new CEO. Timco started talks with CIT after the company posted a $22 million loss in 2005 (DAILY, April 14). The company received $6 million financing package from its major stockholder LJH and Owl Creek Asset Management, which was used to pay CIT $4.7 million, with the balance of that amount pegged for working capital. In turn, CIT agreed to increase Timco's line of credit to an overall borrowing limit of $30 million.
The U.S. Transportation Dept. is still considering whether to conduct additional review of its proposal on airline foreign ownership, while also looking at ways to ease congressional concerns about the controversial rule, a senior DOT official said yesterday.
Delta's pilot leadership late last week voted to ratify that tentative concession deal with management, which would include an immediate 14% pay cut for the rest of the year and allow some larger regional jets.
UPS last week reported a first-quarter net profit of $975 million, up 10.5% from last year due partly to dramatic international package growth. Overall, the company's small-package volume was up 9% in the first quarter. Revenue increased 16.5% to $11.5 billion, and operating profit was up 12.3% to $1.6 billion. UPS CEO Mike Eskew described the period as "a quarter of outstanding growth" for the carrier, although UPS did not raise its full-year profit guidance. International package volume grew 29.1% to 1.7 million packages a day, with export volume up 16.3% and non-U.S.
The expiration of Ryanair's fuel hedges at the end of March could be a challenge for the carrier in the short term, analysts warn, as the airline's protection against oil prices that are spiking around $70 fades. Ryanair was 90% hedged at about $49 per barrel through the end of last month, analysts from Raymond James noted. They lowered earnings per share estimates for fiscal 2007 ending in March of that year from $2.60 to $2.26. Calendar 2006 estimates fell from $2.60 to $2.30.
The Air Transport Association reports that March domestic yields were up 10.6% for the seven reporting U.S. carriers. The increase was not as high as the 12.4% growth in February, and year-to-date domestic yield growth is 10.5%. In March, Atlantic yields were up 8.4%, Latin American yields 5.6%, and Pacific yields 6.9%.
Colombia's civil aviation department postponed from April 18 to May 18 the deadline to submit proposals for a $650 million concession for Latin America's third-largest airport, Bogota's Eldorado, at the request of seven consortiums that have already bought bidding specs. Other potential bidders said they were still compiling documentation and approaching possible partners, operators and investors so they can also participate in the auction within the extended deadline.
Cendant Corp. yesterday revealed it is considering selling all its Travel Distribution Services division is this year after the parent company received some initial attractive offers.
Air Canada Technical Services today unveils its largest component deal to date -- outside of its support of Air Canada -- after capturing a 10-year deal with JetBlue valued at $200 million. ACTS plans to supply JetBlue with component maintenance for two-thirds of the carrier's fleet of 89 Airbus A320 planes. ACTS will perform the work at its component facility in Montreal.
