The French State Is Better At Investing Than You Might Think
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Sun, Sep. 14, 11:02 AM
- Air France-KLM (OTCQX:AFLYY) has issued a warning, stating it is preparing to cancel approximately 60% of its scheduled flights tomorrow due to a contract dispute with pilots.
- The strike could expose the airline to as much as €15M ($19.4M) in extra costs and lost revenue a day, says Air France CEO Frederic Gagey.
- The airline has recently announced its plans to recapture market share from lower-cost airlines, by transferring most of its short- and medium-haul services to its low-cost unit Transavia.
- The planned shift has angered the main pilot union at Air France, which has called for a one-week strike to protest the cost-cutting measures.
Tue, Jul. 22, 5:30 PM
- Delta Air Lines (NYSE:DAL), American Airlines (NASDAQ:AAL) and United Airlines (NYSE:UAL) halted flights to Israel for at least 24 hours under orders from the FAA after a rocket fell about a mile from Ben-Gurion Airport outside Tel Aviv.
- The U.S. moves were swiftly followed by flight stoppages from most European carriers, including Lufthansa (OTCPK:DLAKF) and Air France (OTC:AFRAF).
- Airlines' safety concerns are heightened after last week's downing of the Malaysian Air passenger jet over Ukraine.
- Shares of DAL (+1.4%) and UAL (+2.3%) nevertheless ended with solid gains, and AAL finished with a small loss (-0.2%), as the feeling - for now - is that any revenue losses from canceled flights will be easy to make up.
Tue, Jul. 8, 5:03 AM
- Air France-KLM (AFLYY) warns that its 2014 profit may now be 12% lower than previously estimated. The company is now expecting earnings of approximately €2.2B, down from €2.5B. Despite the guidance drop, Air France-KLM highlighted that this will still represent a 20% improvement from 2013 EBITDA.
- The carrier has attributed the new estimate to overcapacity, which has resulted in lower prices for both its passenger and cargo markets.
- Despite the reduced profit guidance, net debt is still estimated to be reduced to €4.5B in 2015.
Dec. 3, 2012, 2:53 AMSingapore Airlines confirms widespread reports that it's in talks to sell its 49% holding in Richard Branson's Virgin Atlantic, with those reports saying that a potential suitor is Delta Air Lines (DAL). The U.S. carrier has been looking to acquire a stake in Virgin for over two years as it looks to gain access to the latter's lucrative landing slots at Heathrow Airport. Delta could tie up with Air France-KLM to buy the holding. | Comment!
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Air France-KLM is a France-based holding company, which holds Air France and KLM. Through its subsidiaries, Co. is primarily engaged in providing scheduled and charter domestic and international air transportation for passengers and cargo. Co.'s three core businesses are: passenger transport,... More
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