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Today, 10:05 AM
- Global airline carriers rip gains after OPEC decides to hold production levels steady to spark another drop in crude oil prices.
- As a group, airliners are poised to have their biggest up day of the year.
- Gainers: China Eastern Airlines (CEA +5.8%), Delta Air Lines (DAL +5.3%), China Southern Airlines (ZNH +5.5%), Air China (OTCPK:AIRYY +6%), Cathay Pacific (OTCPK:CPCAY) +6.7%, Air-France KLM (OTCQX:AFLYY) +8.5%, Deutsche Lufthansa (OTCQX:DLAKY) +5.9%, Singapore Airlines (OTCPK:SINGY) +4.8%, Gol Linhas (GOL +5.9%), Copa Holdings (CPA +3.2%), LATAM Airlines Group (LFL +3.2%), Air Canada (OTC:AIDFF) +8.9%
Tue, Oct. 28, 5:56 AM
- The Dutch arm of Air France-KLM (OTC:AFRAF) is planning to slash 7,500 jobs (25% of its workforce) largely through outsourcing, Reuters reports quoting Algemeen Dagblad.
- The move is expected to be announced tomorrow with the release of the carrier's quarterly earnings.
- KLM hopes the measure will help it cut €4.4B ($5.6B) in outstanding debt by reducing costs.
Thu, Oct. 16, 12:11 PM
Sun, Oct. 12, 6:55 AM| 3 Comments
Wed, Oct. 8, 3:32 AM
- Following a two-week strike at its French arm last month, Air France-KLM (OTCQX:AFLYY) has issued a profit warning saying the strike cost the airline as much as €500M ($632M).
- Air France-KLM now expects EBITDA to come in between €1.7B-€1.8B this year vs. an earlier target of between €2.2B-€2.3B.
- The profit warning is the second issued in 2014. In July, the airline announced that it would miss an earlier EBITDA target of €2.5B.
Fri, Oct. 3, 6:52 AM
- IATA reports total passenger traffic rose 5.9% Y/Y in August to top the 5.4% pace from the previous month.
- International traffic grew 6.7%, while domestic traffic was up 4.5%.
- Traffic for European carriers rose 6.8%, while capacity only grew at a 6.0% clip.
- The load factor fell during the month for North American carriers to 86.6% with capacity outrunning traffic.
- Traffic for Middle East carriers grew by 11.7% as more routes were added in the region.
- Related stocks: AAL, UAL, DAL, RYAAY, OTCPK:CPCAY, OTCPK:SINGY, CEA, ZNH, CPA, GOL, LFL, OTCPK:DLAKF, OTCPK:AIDIF, OTCPK:QUBSF, JBLU,ALK, HA, OTCPK:AIRYY, OTCPK:MLYAF, OTCQX:AFLYY, VLRS, LUV, RJET, SAVE, ALGT.
Mon, Sep. 29, 2:19 AM| 4 Comments
Sun, Sep. 28, 5:37 AM
- The Air France pilot (OTCQX:AFLYY) strike has been extended yet again, after French Prime Minister Manuel Valls and the airline rejected pilot unions' demands that an independent mediator be appointed.
- The pilot union SNPL had said on Friday that it would lift the strike as soon the mediator was selected.
- The airline expects to cancel about 55% of its flights today, as slightly more than half of its 3,800 pilots still refuse to work.
- Pilots have been on strike since Sept. 15, pressuring Air France to offer the same contracts and benefits to pilots who will be flying its proposed new Transavia unit. The strike has cost the airline up to €20M ($25M) a day.
Wed, Sep. 24, 2:55 AM
- Air France (OTCQX:AFLYY) has withdrawn its plans to develop its low-cost unit Transavia says French Transport Minister Alain Vidalies.
- "The Transavia Europe project has been abandoned," announced Vidalies. "It isn't suspended for three months, it's been withdrawn by management."
- Air France pilots have been on strike since Sept. 15, protesting the airline's transfer of most of its short- and medium-haul services to Transavia.
Mon, Sep. 22, 6:56 AM| Comment!
Sun, Sep. 21, 9:33 AM
- Air France (OTCQX:AFLYY) pilots have voted to extend their strike over the airline's transfer of services to its low-cost unit Transavia and have asked to meet with France’s prime minister to make their case against the plan.
- The strike, which began last Monday, has now been extended to by another four days until Sept. 26.
- Air France has estimated the cost of the strike at €10M-15M ($12.8-19.2) a day.
Thu, Sep. 18, 9:52 AM
- A pilots strike at Air France-KLM (OTCQX:AFLYY) is in its fourth day with very little progress between the company and the workers.
- The latest threat from the union repping the pilots is that the strike could extend beyond the original limit of September 22.
- Previous: Air France losing up to $19M a day from pilot strike
Tue, Sep. 16, 11:13 AM
- Air France-KLM (OTCQX:AFLYY) cancels over half of its flights after a pilot strike goes into its second full day.
- The carrier is hearing from the SNPL union over wages and working conditions.
- What to watch: The labor turmoil could halt Air France-KLM's goal of competing more directly with Ryanair Holdings (NASDAQ:RYAAY) and EasyJet (OTCQX:ESYJY).
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.
Sat, Aug. 23, 3:57 PM
- European airline stocks are on watch after Iceland's Bardarbunga volcano began erupting earlier today.
- Though a no-fly zone around the volcano is in effect, most commercial air space in Iceland is unaffected so far.
- Authorities are watching the eruption carefully to determine the risk of ash and steam being emitted into the atmosphere as the ice cap is breached.
- The 2010 eruption of the Eyjafjallajokul volcano in Iceland caused the cancellation of over 100K flights in Europe due to a massive ash cloud.
- Related stocks: Lufthansa (OTCQX:DLAKY), Ryanair (NASDAQ:RYAAY), Air France-KLM (OTCQX:AFLYY), EasyJet (OTCQX:ESYJY), International Airlines Group, EasyJet (OTCQX:ESYJY), Ryanair (RYAAY).
Fri, Aug. 8, 12:12 PM
AFLYY vs. ETF Alternatives
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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