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News Breaks
January 10, 2014
12:54 EDTAFLYY, AAWW, IAG, DLAKY, BAIRY, AAR, UALUnited, Atlas Air, British Airways among airlines fined by COMCO
Switzerland's Competition Commission, or COMCO, prohibits a price cartel in the context of air freight. Between 2000 and 2005 several airlines agreed on certain elements of the price for air freight transport. The COMCO fined the airlines 11 million Swiss Francs in total in connection with the agreement. The investigation of the Competition Commission revealed that the airlines had agreed on freight rates, fuel surcharges, war risk surcharges, customs clearance surcharges for the U.S. and the commissioning of surcharges. All those elements are part of the price that is charged for air freight transport. This is a horizontal price agreement case.The COMCO fines the following airlines: Korean Air Lines Co. Ltd., Atlas Air Worldwide Holdings (AAWW), AMR Corporation (AAR), United Continental Holdings (UAL), SAS AB, Japan Airlines Co., Ltd., Singapore Airlines Limited, Cathay Pacific Airways Limited, Cargolux Airlines International S. A., British Airways Plc (BAIRY) and Air France-KLM SA (AFLYY). The Deutsche Lufthansa AG, as part of the cartel, triggered the legal proceedings by self-denunciation. Thus this airline benefits from complete immunity from the sanction. As subsidiary of the Deutsche Lufthansa AG (DLAKY), Swiss International Air Lines AG also benefits from full immunity from the sanction. After the initiation of the legal proceedings, British Airways Plc., Cathay Pacific Airways Limited, Japan Airlines Co., Ltd., Air France-KLM SA and Cargolux Airlines International S.A. submitted leniency applications. These leniency applicants benefit from substantial reductions of the sanctions. Reference Link
News For AFLYY;AAWW;IAG;DLAKY;BAIRY;AAR;UAL From The Last 14 Days
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September 15, 2014
07:31 EDTIAGDenver Gold Group to hold a forum
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06:32 EDTDLAKYLufthansa pilots aim for Frankfurt strike tomorrow, Reuters says
Pilots working for Lufthansa are planning to hold an eight-hour strike tomorrow, which will cease long-haul flights from its hub in Frankfurt, according to Reuters, citing comments from union Vereinigung Cockpit. This is the fourth demonstration that Lufthansa has faced against some of its pilots within the past three weeks. Reference Link
06:25 EDTAFLYYAir France pilots commence one-week strike, Reuters says
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September 11, 2014
10:00 EDTAAWWOn The Fly: Analyst Upgrade Summary
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06:40 EDTAAWWAtlas Air upgraded to Outperform from Market Perform at FBR Capital
FBR Capital upgraded Atlas Air to Outperform based on signs of improvement in global airfreight markets, low valuation, and tightening 2H aircraft supply. Price target raised to $40 from $35.
06:35 EDTAFLYYAir France-KLM comments on medium-financial targets to 2017
Air France-KLM said it would target EBITDAR up by 8%-10% per year between 2013 and 2017 as part of a turnaround plan aimed at focusing on long-haul operations and restructuring. The company is also targeting an adjusted net debt/EBITDAR ratio of below 2.5 from 2017. The targets are consistent with a ROCE of 9%-11% in 2017. The group will continue to restructure its point-to-point operations, aiming at a return to operating breakeven by 2017. From a financial perspective, Air France-KLM plans to pursue the reduction in its unit costs and selective capex management while adopting a disciplined approach to growth opportunities.
September 9, 2014
10:10 EDTUALOn the Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AMC Entertainment (AMC) initiated with a Hold at Topek... AMRI (AMRI) initiated with an Overweight at JPMorgan... Alcoa (AA) initiated with an Outperform at Bernstein... Alumina (AWC) initiated with a Market Perform at Bernstein... American Airlines (AAL) initiated with an Outperform at Credit Suisse... Catalent (CTLT) initiated with a Buy at BofA/Merrill... Chimerix (CMRX) initiated with a Buy at Cantor... Delta Air Lines (DAL) initiated with an Outperform at Credit Suisse... Enable Midstream (ENBL) initiated with an Outperform at BMO Capital... Enbridge Energy (EEP) initiated with a Market Perform at BMO Capital... Endocyte (ECYT) initiated with a Buy at Cantor... EnerNOC (ENOC) initiated with an Outperform at Pacific Crest... Enterprise Products (EPD) initiated with an Outperform at BMO Capital... Good Times Restaurants (GTIM) initiated with a Buy at Roth Capital... JetBlue (JBLU) initiated with an Underperform at Credit Suisse... Kinder Morgan Energy (KMP) initiated with a Market Perform at BMO Capital... MEI Pharma (MEIP) initiated with a Buy at Cantor... ONEOK Partners (OKS) initiated with a Market Perform at BMO Capital... Southwest (LUV) initiated with a Neutral at Credit Suisse... Spectra Energy Partners (SEP) initiated with an Outperform at BMO Capital... TC PipeLines (TCP) initiated with a Market Perform at BMO Capital... TECO Energy (TE) initiated with a Neutral at Citigroup... Targa Resources Partners (NGLS) initiated with a Market Perform at BMO Capital... United Continental (UAL) initiated with an Outperform at Credit Suisse... Weibo (WB) initiated with a Buy at T.H. Capital... Williams Partners (WPZ) initiated with a Market Perform at BMO Capital.
06:20 EDTDLAKYLufthansa pilots aim for Munich airport strike, Reuters says
Union Vereinigung Cockpit said that pilots working for Lufthansa are planning to hold an a eight-hour long demonstration at Munich airport, according to Reuters, citing the union. This event marks the third strike by the airline's pilots over the past two weeks. Reference Link
05:40 EDTUALU.S. Airline sector initiated with an Overweight at Credit Suisse
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05:33 EDTUALUnited Continental initiated with an Outperform at Credit Suisse
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September 8, 2014
17:18 EDTUALUnited Continental reports August consolidated traffic up 0.1% vs. last year
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16:02 EDTUALUnited Continental initiated with an Outperform at Credit Suisse
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11:37 EDTUALStocks with call strike movement; UAL AAL
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September 5, 2014
10:30 EDTDLAKYLufthansa says flights affected by pilots union strike
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September 3, 2014
06:12 EDTDLAKYLufthansa Cargo, ANA launch air cargo joint venture
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