Hints and tips:
...Air Europa’s owner Globalia and the European Commission declined to comment....
...The commission has been planning to toughen its rules for airline mergers, with IAG’s deal for Air Europa facing a lengthy probe over fears it could lead to higher ticket prices....
...British Airways owner IAG and Air France-KLM have said they expect a surge in summer bookings as the post-pandemic travel boom gathers pace....
...In response, the Spanish government said it regarded Air Europa as a “strategic company for Spain due to its importance for the aviation and tourism sectors”....
...Rome has now entered exclusive talks with a consortium made up of US fund Certares, Delta Air Lines and Air France-KLM to sell the airline despite political opposition in the midst of the general election...
...Ms Bulc also weighed in on the Dutch government’s recent surprise acquisition of a significant stake in Air France-KLM, where it now holds 14 per cent, the same as the French government....
...The Spanish government this month approved a €475m aid package to rescue Air Europa from bankruptcy....
...Europa (FT)...
...(Patrick Temple-West and Gillian Tett) UK social impact investing market tops £5bn Covid-19 has put a new focus on the “S” in ESG....
...It’ll burn through €2bn or so this year but can probably afford to on existing resources, particularly if it can walk the price down a bit on the €1bn-plus acquisition of Air Europa....
...He added that he was pleased with IAG’s performance “despite three significant challenges: fuel prices increasing 30 per cent, considerable air traffic control disruption and an adverse foreign exchange...
...Our estimates include a €2.75bn equity raise (we use the closing share price on Aug 31st as we don’t know the RI details). Our estimates do not include the proposed acquisition of Air Europa in Spain....
...“We do not believe there have been any 737-8 order cancellations resulting directly from the Lion Air crash,” said S&P, adding that Airbus would struggle to replace such orders with its competing A320neo...
...It is unusual for governments to ground planes before a ruling by an airliner’s official certifying authority, which in the 737’s case is the US FAA....
...Air France-KLM also painted a more encouraging outlook, noting that long haul forward bookings were above last year’s level....
...reduce air travel....
...Air France-KLM said last week that it had returned to profit for the first time since 2010 after cheaper fuel and continued cost-cutting helped boost the Franco-Dutch airline’s performance....
...In recent years, IAG has fared better than its main European rivals — Lufthansa and Air France-KLM — which have been hit by strikes over cost-cutting plans, and heightened competition from Middle Eastern...
...In the past year, IAG has recorded a much stronger share price performance than Air France-KLM and Lufthansa, its main European rivals, which have been struggling with strikes related to their cost cutting...
...IAG stuck to its operating profit guidance of more than €2.2bn for this year, up almost 60 per cent on a year earlier. Now that sounds a lot less like hot air....
...This took first half operating profit to €555m, a 141 per cent rise from €230m a year ago....
...Iberia and carriers such as Air Europa are increasing routes, and passenger traffic numbers are “very encouraging”....
...Boeing, the US aerospace group, estimates that over the next 20 years, nearly half of the world’s air traffic growth will be driven by travel to, from or within the Asia-Pacific region....
...Analyst opinion continues to warm, with the current consensus of a cautious buy potentially being further upgraded.” Shares in M&S rose 5.5 per cent to 559.8p, their highest level since 2008....
...its strike-hit rivals Lufthansa and Air France-KLM....
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