An advisory group is set to propose an "administrative unification" of Japan's Kansai International, Osaka International and Kobe airports in an effort to streamline costs, Japan Times reported. The proposal will be presented at a Dec. 14 meeting of regional leaders. Currently, each of the airports has separate management groups.
BAA last week placed a £235 million ($391 million) Sterling index-linked bond with a 2039 maturity and a fixed real annual interest coupon of 3.334%. The issue follows placement in late November of a £700 million, 17-year bond issue undertaken by the company. Proceeds from the bond issues will be used to refinance existing debt and will lengthen the airport operator's debt maturity profile.
Republic Airways Holdings felt the pinch of rapid expansion in the third quarter, reporting net income of $3.3 million, an 80.8% drop from $17 million earned in the year-ago period.
Republic owns Republic Airways, Shuttle America, Chautauqua Airlines, Midwest Airlines, Frontier Airlines and Lynx Aviation. Midwest, Frontier and Lynx were acquired during the third quarter. Revenue fell 6.7% to $359.6 million while expenses were down 0.6% to $323 million. The operating loss of $32 million was about level with the $32.5 million deficit suffered last year.
AirTran Airways stepped up the competition at Milwaukee yesterday, announcing a new marketing partnership with SkyWest Airlines under which the regional will operate five 50-seat CRJ200s under its own brand and livery to six destinations out of General Mitchell International starting Dec. 4.
British Airway took a bold stand in late September, introducing a new premier business product targeting an exclusive group of passengers willing to pay top fares for all-business-class service between New York JFK and London City Airport, which serves the Canary Wharf financial district and east London. The twice-daily service is operated on new A318s with a range of 3,200 nm. and configured with just 32 lie-flat sleeper seats.
US FAA yesterday revoked the licenses of the two Northwest Airlines pilots who flew 150 mi. past their destination on an Oct. 21 flight from San Diego to Minneapolis-St. Paul (ATWOnline, Oct. 27). ATC and airline officials were unable to make contact with the pilots for more than 1 hr. and the crew later told the National Transportation Safety Board that they had been using their laptop computers and were distracted.
Porter Airlines President and CEO Robert Deluce said the first phase of a new C$45 million ($43.4 million) privately financed terminal will open in December at Toronto City Centre. The second phase, which will add 150,000 sq. ft. to the airport, will open before the summer season, he said at last week's Airports Council International-North America meeting in Austin.
Airport Council International-North America launched a new database that will give airports access to information on successful programs and sustainability trends. "Airports across the country and around the world have undertaken or are in the process of implementing innovative sustainability programs to improve efficiency in aviation, but until today, there has been no central repository of this important information," ACI-NA President Greg Principato said last week in Austin.
Continental Airlines Chairman and CEO Larry Kellner said yesterday that while the airline industry has seen slight economic improvement this year as fuel costs have lowered and credit markets have loosened, "we're still bouncing along the bottom."
The collective market value of publicly traded airlines worldwide has more than doubled since 2009, but is still below pre-2008 financial crisis levels, according to a top industry stock analyst....More