Aviation industry outlook

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Aviation industry outlook"

Transcription

1 Euro Aviation ICT Forum Thursday 29 October, 2015 Divani Caravel Hotel, Athens Aviation industry outlook Jonathan Wober, Chief Financial Analyst

2 The leading independent supplier of global aviation knowledge

3 Airline margins: cyclical and thin World airline operating and net margins (% of revenue) 1947 to Operating margin Net Margin Source: CAPA Centre for Aviation, ICAO, A4A, IATA

4 Margin cycle reflects supply & demand Positive supply/demand balance has become more common World airline operating margin versus RPK growth less fleet growth 1971 to 2014 Source: CAPA Centre for Aviation, ICAO, Airline Monitor

5 CAPA world airline operating margin model Margins set to grow in 2015, mainly due to lower fuel cost f 2016f Note/source Brent crude USD/barrel Reuters consensus poll 30-Jun-2015 World real GDP growth % IMF forecast Jul-2015 Fleet growth % CAPA model World RPK growth % CAPA model World airline operating margin % CAPA model but may dip once more in 2016 if oil price rises again

6 e 2016e Nearing a peak, will cyclicality dampen? 8 World airline operating margin (% of revenue) 1979 to 2016e High -2-4 Base case Low Geopolitical crisis/recession -6 Source: CAPA Centre for Aviation, ICAO, A4A, Airline Monitor

7 % of total revenue Ancillaries growing share of revenue World airlines: ancillary revenue and operating margin as % of total revenue 2010 to Ancillary revenue Operating margin Source: CAPA Centre for Aviation analysis; IdeaWorksCompany/CarTrawler for ancillary revenue; ICAO for operating margin (CAPA estimate for 2014)

8 Different ancillaries outside US vs in US, distorted by FFP mile sales Ancillary revenue components 2013 (% of ancillary revenue) 100% 90% Sale of FFP miles, 10% 100% 90% 80% 70% Travel retail, 20% 80% 70% Sale of FFP miles, 55% 60% Onboard retail, 20% 60% 50% 50% 40% 30% Other a la carte services, 30% 40% 30% Travel retail, 5% Other a la carte services, Onboard retail, 15% 20% 20% 10% Baggage fees, 20% 10% Baggage fees, 25% 0% Outside US (non LCC) 0% US major Source: CAPA Centre for Aviation using data from IdeaWorksCompany/CarTrawler

9 Ex FFP sales, vast bulk of ancillaries are from unbundling of core product Ancillary revenue components excluding sale FFP miles 2013 (% of ancillary revenue ex FFP miles) 100% 90% Travel retail, 22% 100% 90% New products, 22% Travel retail, 11% New products, 11% 80% 70% 60% Onboard retail, 22% 80% 70% 60% Other a la carte services, Onboard retail, 33% 50% 40% Other a la carte services, 33% 50% 40% Unbundling of core product, 78% Unbundling of core product, 89% 30% 30% Baggage fees, 56% 20% 20% 10% Baggage fees, 22% 10% 0% Outside US (non LCC) 0% US major Source: CAPA Centre for Aviation using data from IdeaWorksCompany/CarTrawler

10 e 2016e Cash flow is exceeding capital investment currently World airline capital expenditure as a percentage of operating cash flow 1979 to 2016E* 250% 200% 150% 100% 50% 0% * Estimated on-balance sheet capex as % of EBITDA. Source: CAPA Centre for Aviation, Airline Monitor, IATA

11 Uses for surplus cash? Debt repayment Shareholder returns: dividends, buybacks But Consolidation: mergers and acquisitions? Impeded by ownership & control restrictions

12 N America airline margin leads, Europe lags Airline EBIT margin (%) by region 2007 to 2015f 12 N America Global Asia PAcific Europe L America Mid East Africa f N America Europe Asia Pacific Global Middle East Lat Am Africa Source: CAPA Centre for Aviation, IATA

13 Europe margins under-perform post recession Airline average EBIT margin (%) by region 2010 to 2015f N America Asia Pacific Global Lat Am Middle East Europe Africa Source: CAPA Centre for Aviation, IATA

14 Ave EBIT margin f Europe airline profits held back by market structure Average airline EBIT margin F versus market concentration (horizontal axis) by region N America Asia Pacific Europe Middle East Lat America Africa Market concentration (HHI based on share of seats) Source: CAPA Centre for Aviation, OAG (seat data for week of 9-Jun-2014), IATA margin forecasts

15 Ownership & control in practice Many ways to circumvent the restrictions Minority stakes Holding company structures Global alliances Revenue or profit sharing joint ventures These methods continue to grow, but are less efficient than merger Why should airlines be a special case? Banks, telecoms, utilities, media

16 Aviation is still a growth industry World airline traffic in revenue passenger kilometres (RPK, million) 1970 to ,000,000 6,000,000 5,000,000 4,000,000 3,000,000 Historic growth CAGR 1970 to 2014: 6.1% pa CAGR 2000 to 2014: 4.2% pa Only 3 years with negative growth Forecast CAGR 2014 to % pa (Boeing) 4.6% pa (Airbus) 2,000,000 1,000,000 - Source: CAPA Centre for Aviation, ICAO, Boeing, Airbus

17 but Europe will grow less rapidly Forecast CAGR in Europe revenue passenger kilometres (RPK, million) 2014 to 2034 Source: CAPA Centre for Aviation, Boeing, Airbus

18 Aircraft in service/on order Source: CAPA Fleet Database as at 23-Oct-2015

19 Widebodies in service/on order Source: CAPA Fleet Database as at 23-Oct-2015

20 Centre of gravity is moving east Widebodies on order Source: CAPA Fleet Database as 18-May-2015

21 Summary Airline profits still cyclical Cost and capacity discipline may reduce cyclicality Ancillary revenue is growing Will see more new revenue generation Europe s airline profits held back by fragmentation Ownership & control restrictions will reduce, slowly Partnerships and alliances will continue to grow Aviation is still a growth industry Europe s growth will be slower Europe will have to solve problems of infrastructure & taxes Centre of gravity is moving eastwards

22 Summary Airline profits still cyclical Cost and capacity discipline may reduce cyclicality Ancillary revenue is growing Will see more new revenue generation Europe s airline profits held back by fragmentation Ownership & control restrictions will reduce, slowly Partnerships and alliances will continue to grow Aviation is still a growth industry Europe s growth will be slower Europe will have to solve problems of infrastructure & taxes Centre of gravity is moving eastwards

23 Summary Airline profits still cyclical Cost and capacity discipline may reduce cyclicality Ancillary revenue is growing Will see more new revenue generation Europe s airline profits held back by fragmentation Ownership & control restrictions will reduce, slowly Partnerships and alliances will continue to grow Aviation is still a growth industry Europe s growth will be slower Europe will have to solve problems of infrastructure & taxes Centre of gravity is moving eastwards

24 Summary Airline profits still cyclical Cost and capacity discipline may reduce cyclicality Ancillary revenue is growing Will see more new revenue generation Europe s airline profits held back by fragmentation Ownership & control restrictions will reduce, slowly Partnerships and alliances will continue to grow Aviation is still a growth industry Europe s growth will be slower Europe will have to solve problems of infrastructure & taxes Centre of gravity is moving eastwards

25 Summary Airline profits still cyclical Cost and capacity discipline may reduce cyclicality Ancillary revenue is growing Will see more new revenue generation Europe s airline profits held back by fragmentation Ownership & control restrictions will reduce, slowly Partnerships and alliances will continue to grow Aviation is still a growth industry Europe s growth will be slower Europe will have to solve problems of infrastructure & taxes Centre of gravity is moving eastwards

Airlines across the world connected a record number of cities this year, with more than 20,000 city pair connections*

Airlines across the world connected a record number of cities this year, with more than 20,000 city pair connections* 1 Airlines across the world connected a record number of cities this year, with more than 20,000 city pair connections*. This is a 1,351 increase over 2016 and a doubling of service since 1996, when there

More information

Economic Performance of the Airline Industry

Economic Performance of the Airline Industry Economic Performance of the Airline Industry Airline Cost Conference 25 th August 2015 Brian Pearce, Chief Economist www.iata.org/economics To represent, lead and serve the airline industry number of airlines

More information

ALAFCO Aviation Lease And Finance Co. KSCC

ALAFCO Aviation Lease And Finance Co. KSCC Information MEMORANDUM ALAFCO Aviation Lease And Finance Co. KSCC Mr. Ahmad A. Alzabin Vice Chairman and Chief Executive Officer The 6th Forum for Listed Companies and Analysts Kuwait 20 May 2014 Core

More information

Santander 22 nd Annual Latin American Conference. Cancun, January 2018

Santander 22 nd Annual Latin American Conference. Cancun, January 2018 Santander 22 nd Annual Latin American Conference Cancun, January 2018 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial and operating

More information

1 2 23 24 15 16 7 8 9 Ancillary Revenue target per pax RM55 10 Online 365 11 212 13 14 14 Quarter Ended: 31 March RM'000 Revenue 2,068,227 Operating expenses: - Staff costs (286,663) - Depreciation

More information

US $ 1,800 1,600 1,400 1,200 1,000

US $ 1,800 1,600 1,400 1,200 1,000 IATA ECONOMIC BRIEFING JULY 9 INFRASTRUCTURE COSTS SUMMARY Historical data indicates that during recession periods infrastructure providers usually increase their prices while other prices are falling

More information

Industry perspective Current Market Outlook

Industry perspective Current Market Outlook Industry perspective Current Market Outlook Sam Bolooki Director International Business Development & Programs Boeing Global Air Traffic Management Oct. 2013 Agenda Aviation industry 20-year commercial

More information

QANTAS HALF YEAR 2015 FINANCIAL RESULTS 1

QANTAS HALF YEAR 2015 FINANCIAL RESULTS 1 QANTAS HALF YEAR 2015 FINANCIAL RESULTS 1 Key points: Underlying Profit Before Tax: $367 million Statutory Profit After Tax: $206 million Transformation benefits: $374 million Comparable unit cost reduction:

More information

SIA ENGINEERING COMPANY 1 st Half FY17/18 Financial Review

SIA ENGINEERING COMPANY 1 st Half FY17/18 Financial Review SIA SIA ENGINEERING ENGINEERING COMPANY COMPANY 11 st st Half Half FY17/18 FY17/18 Performance Performance Review Review 1 2 SIA ENGINEERING COMPANY 1 st Half FY17/18 Financial Review 1H17/18 Financial

More information

Deutsche Bank 16 th Annual Global Emerging Markets. New York, September 2017

Deutsche Bank 16 th Annual Global Emerging Markets. New York, September 2017 Deutsche Bank 16 th Annual Global Emerging Markets New York, September 2017 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial and

More information

CREDIT SUISSE GLOBAL INDUSTRIALS CONFERENCE DECEMBER 4, 2014

CREDIT SUISSE GLOBAL INDUSTRIALS CONFERENCE DECEMBER 4, 2014 CREDIT SUISSE GLOBAL INDUSTRIALS CONFERENCE DECEMBER 4, 2014 1 1 SAFE HARBOR This presentation contains statements of a forward-looking nature which represent our management's beliefs and assumptions concerning

More information

Annual Results Air New Zealand

Annual Results Air New Zealand Annual Results 2011 Air New Zealand Highlights Normalised earnings* $75m Net cash position of $860m Operating cash flow down 5% Gearingat467% at 46.7% Final dividend 2.5 cents per share (unimputed) New

More information

UBS 14 th Global Emerging Markets Conference. New York, November 2016

UBS 14 th Global Emerging Markets Conference. New York, November 2016 UBS 14 th Global Emerging Markets Conference New York, November 2016 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial and operating

More information

Airline Operating Costs Dr. Peter Belobaba

Airline Operating Costs Dr. Peter Belobaba Airline Operating Costs Dr. Peter Belobaba Istanbul Technical University Air Transportation Management M.Sc. Program Network, Fleet and Schedule Strategic Planning Module 12: 30 March 2016 Lecture Outline

More information

AIRBUS H Roadshow Presentation. New York July 31 st, 2017

AIRBUS H Roadshow Presentation. New York July 31 st, 2017 AIRBUS H1 2017 Roadshow Presentation New York July 31 st, 2017 H1 2017 HIGHLIGHTS 2 Healthy commercial aircraft environment; robust backlog of 6,771 a/c supports ramp-up plans H1 financials reflect delivery

More information

Gorham PMA Conference San Diego, CA March, 2016

Gorham PMA Conference San Diego, CA March, 2016 Gorham PMA Conference San Diego, CA 21-23 March, 2016 Presented by: Michael J. Howard Principal ICF International mhoward@icfi.com PMA Forecast and Market Trends 0 Today s Agenda MRO Forecast Meet the

More information

Analyst and Investor Conference Call Q Frankfurt, 25 October 2017

Analyst and Investor Conference Call Q Frankfurt, 25 October 2017 Analyst and Investor Conference Call Q3 2017 Frankfurt, 25 October 2017 Disclaimer The information herein is based on publicly available information. It has been prepared by the Company solely for use

More information

MRO Market Update & Industry Trends

MRO Market Update & Industry Trends October 18-20, 2016 Amsterdam, Netherlands Presented by: Jonathan M. Berger Vice President Aerospace & MRO Advisory jberger@icf.com MRO Market Update & Industry Trends 0 Today s Agenda Bizarro Aviation

More information

Finnair Group Interim Report 1 January 30 June 2008

Finnair Group Interim Report 1 January 30 June 2008 Finnair Group Interim Report 1 January 30 June 2008 1 08/08/2008 Presentation name / Author Airline industry at a historical turning point Fuel price has a stranglehold on the business Average ticket prices

More information

Air Arabia. Investor Presentation. Sharjah, UAE: September 2013

Air Arabia. Investor Presentation. Sharjah, UAE: September 2013 Air Arabia Investor Presentation Sharjah, UAE: September 2013 Disclaimer Information contained in this presentation is subject to change without notice, its accuracy is not guaranteed and it may not contain

More information

Global Airline Trends and Impacts International Aviation Issues Seminar

Global Airline Trends and Impacts International Aviation Issues Seminar Global Airline Trends and Impacts International Aviation Issues Seminar December 2017, Washington D.C. Oliver Lamb Managing Director 1 Around the world in 45 minutes Financial Performance Canada Mexico

More information

Asia-Pacific Aviation: Growth and Challenges

Asia-Pacific Aviation: Growth and Challenges Asia-Pacific Aviation: Growth and Challenges A presentation to the ACI-NA International Aviation Issues Seminar Steve Martin Page 1 Page 2 Defining the Asia Pacific We ll call it GMT +5 GMT +12, minus

More information

Air Arabia. Investor Presentation. 1 st Quarter 2015

Air Arabia. Investor Presentation. 1 st Quarter 2015 Air Arabia Investor Presentation 1 st Quarter 2015 Disclaimer Information contained in this presentation is subject to change without notice, its accuracy is not guaranteed and it may not contain all material

More information

2017 Half-year Results

2017 Half-year Results 2017 Half-year Results A MULTI-LOCAL SPECIALIST STORAGE RETAIL DISTRIBUTION SUPPORT AND SERVICES OF FUEL PRODUCTS 2 KEY FACTS As of june 30, 2017 Purchase of Dinasa and of its subsidiary Sodigaz, leading

More information

Ministry of Land, Infrastructure, Transport and Tourism Airport Forum. Jetstar Presentation 8 March 2011

Ministry of Land, Infrastructure, Transport and Tourism Airport Forum. Jetstar Presentation 8 March 2011 資料 5 Ministry of Land, Infrastructure, Transport and Tourism Airport Forum Jetstar Presentation 8 March 2011 Welcome to Jetstar Jetstar is the leading Asia Pacific LCC Continuously profitable since 2004

More information

AerCap Holdings N.V. Aengus Kelly, CEO. January 2017

AerCap Holdings N.V. Aengus Kelly, CEO. January 2017 AerCap Holdings N.V. Aengus Kelly, CEO January 2017 Industry Update Looking Back PASSENGER TRAFFIC GROWTH Air traffic growth in 2016 remained robust, short-haul at 5.6% and long-haul at 6.4% 1 CHINA SLOWING

More information

Asia Pacific Aviation

Asia Pacific Aviation Asia Pacific Aviation Stronger Together Andrew Herdman Director General Association of Asia Pacific Airlines Overview Asia Pacific aviation Business trends Future growth Sustainability Regulatory challenges

More information

For personal use only

For personal use only ASX and Media Release QANTAS DELIVERS RECORD FIRST HALF PROFIT, INVESTS IN AIRCRAFT AND TRAINING Sydney, 22 February 2018 Underlying Profit Before Tax: $976 million (up 15%) Record results for Qantas Domestic,

More information

Jumpstart 2017 Lukas Johnson SVP, Commercial. June 2017

Jumpstart 2017 Lukas Johnson SVP, Commercial. June 2017 Jumpstart 2017 Lukas Johnson SVP, Commercial June 2017 Forward looking statements This presentation as well as oral statements made by officers or directors of Allegiant Travel Company, its advisors and

More information

FIRST QUARTER 2017 RESULTS. 4 May 2017

FIRST QUARTER 2017 RESULTS. 4 May 2017 FIRST QUARTER 2017 RESULTS 4 May 2017 A resilient start of the year, traffic up 4.2% 20.9 million passengers carried, up 5.2%, traffic (RPK) up 4.2%, capacity (ASK) up 3.3% and load factor up 0.7pts Confirmation

More information

Seeking a world class marriage between aero nautical and non aero nautical revenue

Seeking a world class marriage between aero nautical and non aero nautical revenue Dan Cappell VP non aero nautical revenue & business development ADAC Seeking a world class marriage between aero Hosted by 2008 / 09 most challenging period global economies have ever faced. Some economists

More information

Mr. Adel Al-Banwan Deputy CEO

Mr. Adel Al-Banwan Deputy CEO The 8th Forum for Listed Companies and Analysts ALAFCO Aviation Lease and Finance Co. Mr. Adel Al-Banwan Deputy CEO (18 th April 2016) ALAFCO Aviation Lease and Finance Company K.S.C.P. ALAFCO Aviation

More information

Istanbul Technical University Air Transportation Management, M.Sc. Program Aviation Economics and Financial Analysis Module 2 November 2014

Istanbul Technical University Air Transportation Management, M.Sc. Program Aviation Economics and Financial Analysis Module 2 November 2014 Sources of Finance Istanbul Technical University Air Transportation Management, M.Sc. Program Aviation Economics and Financial Analysis Module 2 November 2014 Outline A. Introduction to airline finance

More information

Air Transport MRO & PMA Market Forecast and Key Trends

Air Transport MRO & PMA Market Forecast and Key Trends Air Transport MRO & PMA Market Forecast and Key Trends Presented by: Michael Howard, Principal ICF SH&E michael.howard@icfi.com Gorham PMA Parts & DER Repairs San Diego, March 2013 0 Today s Agenda MRO

More information

Recovery on track, continued strengthening in most segments. Record Jetstar and Frequent Flyer earnings highlight value of portfolio

Recovery on track, continued strengthening in most segments. Record Jetstar and Frequent Flyer earnings highlight value of portfolio Qantas Full Year 2010 Results Presentation Overview Underlying PBT 1 more than tripled to $377m in line with guidance Delivering against strategic priorities Recovery on track, continued strengthening

More information

Vueling Airlines Q4 and Full-Year Results

Vueling Airlines Q4 and Full-Year Results Vueling Airlines Q4 and Full-Year Results Contents Q1 general outlook Revenues evolution Cost performance Outlook for next quarter 2 EBT: a 23.3m improvement on a year earlier 15 non-profitable routes

More information

Finnair Group Interim Report 1 January 31 March 2008

Finnair Group Interim Report 1 January 31 March 2008 Finnair Group Interim Report 1 January 31 March 2008 1 29/04/2008 Presentation name / Author Outlook for the industry less positive Growth of demand declining due to uncertainty of global economy Growth

More information

AIRBUS FY 2017 ROADSHOW PRESENTATION

AIRBUS FY 2017 ROADSHOW PRESENTATION AIRBUS FY 2017 ROADSHOW PRESENTATION February 2018 SAFE HARBOUR STATEMENT 2 DISCLAIMER This presentation includes forward-looking statements. Words such as anticipates, believes, estimates, expects, intends,

More information

Full Year 2017 RESULTS 16 th of February 2018

Full Year 2017 RESULTS 16 th of February 2018 Full Year 2017 RESULTS 16 th of February 2018 2017 FULL YEAR 2017 MAIN ACHIEVEMENTS Robust traffic statistics Strong Full Year results +5.6% +2.0% 42% +101% 1,049 1,488 347 696 FY 2016 FY 2017 Passengers

More information

ANALYST MEETING PT GARUDA INDONESIA (PERSERO) Tbk. 9M2015 Result Announcement Jakarta, 23 October 2015

ANALYST MEETING PT GARUDA INDONESIA (PERSERO) Tbk. 9M2015 Result Announcement Jakarta, 23 October 2015 ANALYST MEETING PT GARUDA INDONESIA (PERSERO) Tbk. 9M2015 Result Announcement Jakarta, 23 October 2015 1 Agenda Hal 1. Company Profile 3 8 2. Operational Performance 9 13 3. Financial Performance 14 20

More information

Forward looking statements

Forward looking statements Forward looking statements This presentation contains forward-looking statements. Forward-looking statements often include words such as anticipate", "expect", "intend", "plan", "believe, continue or similar

More information

Finnair Group Annual Report 1 January 31 December 2006

Finnair Group Annual Report 1 January 31 December 2006 Finnair Group Annual Report 1 January 31 December 2006 2006: A year for restructuring Scheduled Passenger Traffic transforming to meet Asian traffic demands Labour negotiations to cut 670 jobs 80 million

More information

Global Market Forecast

Global Market Forecast Presentation by: Bob Lange SVP, Market & Product Strategy Global Market Forecast 2013-2032 Drivers for Growth Topics The Market Today & forecast (GMF) Airbus product response Air travel has proved to be

More information

Ryanair. Overweight. Overweight. High Growth, Low Cost Champion

Ryanair. Overweight. Overweight. High Growth, Low Cost Champion Overweight RYA.I,RYA ID Price: 12.76 Price Target: 16.25 Previous: 13.50 Ireland Airlines Christopher G Combe AC J.P. Morgan Securities PLC Price Performance 12 10 8 6 Jul-14 Oct-14 Jan-15 Apr-15 Jul-15

More information

Airline Economics Growth Frontiers Dublin

Airline Economics Growth Frontiers Dublin Airline Economics Growth Frontiers Dublin John L. Plueger Chief Executive Officer & President January 22, 2018 Forward Looking Statements & Non-GAAP Measures Statements in this presentation that are not

More information

JAPAN AIRLINES Co., Ltd. Financial Results 3 rd Quarter Mar/2018(FY2017) January 31, 2018

JAPAN AIRLINES Co., Ltd. Financial Results 3 rd Quarter Mar/2018(FY2017) January 31, 2018 JAPAN AIRLINES Co., Ltd. Financial Results 3 rd Quarter Mar/2018(FY2017) January 31, 2018 Today s Topics P.1 P.2 P.3 P.12 JAL Corporate Website the CONTRAIL Project Overview of Financial Results for 3

More information

ICAO Forecasts for Effective Planning and Implementation. Sijia Chen Economic Development Air Transport Bureau, ICAO

ICAO Forecasts for Effective Planning and Implementation. Sijia Chen Economic Development Air Transport Bureau, ICAO ICAO Forecasts for Effective Planning and Implementation Sijia Chen Economic Development Air Transport Bureau, ICAO Appendix C : Forecasting, planning and economic analyses The Assembly: Requests the Council

More information

Agenda. Conclusion of Transform Key Perform 2020 initiatives. Perform 2020 financial framework. Information meeting

Agenda. Conclusion of Transform Key Perform 2020 initiatives. Perform 2020 financial framework. Information meeting Information meeting Agenda Conclusion of Transform 2015 Key Perform 2020 initiatives Perform 2020 financial framework 2 Transform 2015: first phase of group turnaround accomplished Strict capacity discipline

More information

Cathay Pacific Airways 2011 Interim Results 10 August 2011

Cathay Pacific Airways 2011 Interim Results 10 August 2011 Cathay Pacific Airways 2011 Interim Results 10 August 2011 1 Interim Result 1H 2011 1H 2010 Group profit HK$2,808m HK$6,840m Group turnover HK$46,791 HK$41,337m Profit margin 6.0% 16.5% Return on capital

More information

TABLE OF CONTENTS 9M10

TABLE OF CONTENTS 9M10 MALAYSIA AIRPORTS HOLDINGS BERHAD ANALYST BRIEFING FINANCIAL RESULTS FOR 9 MONTHS ENDED 30 th SEP 2010 29 October 2010 1 TABLE OF CONTENTS 9M10 Review Group Financial Review Airport Operations Review Commercial

More information

2014 Half Year Results Virgin Australia Holdings Limited 28 February 2014

2014 Half Year Results Virgin Australia Holdings Limited 28 February 2014 2014 Half Year Results Virgin Australia Holdings Limited 28 February 2014 Half year in review Australian aviation market continues to face challenging conditions, ongoing subdued consumer sentiment and

More information

Cathay Pacific Airways

Cathay Pacific Airways Cathay Pacific Airways Interim Results for the six months ended 30 th June 2014 13th August 2014 1 Interim Results 1H2014 1H2013 Change Profit attributable to the shareholders of Cathay Pacific HK$ million

More information

Icelandair Group Financial Results for the first half and Q2 2007

Icelandair Group Financial Results for the first half and Q2 2007 Icelandair Group Financial Results for the first half and Q2 2007 Total revenue for H1 2007 was ISK 28.1 billion compared to ISK 24.1 billion for H1 2006, an increase of 17%. Total revenue for Q2 2007

More information

Press release. Amadeus maintains strong financial growth in the first quarter of the year

Press release. Amadeus maintains strong financial growth in the first quarter of the year Press release Amadeus maintains strong financial growth in the first quarter of the year May 5, 2017 Amadeus performance was strong in the first three months of the year. This was supported by the timing

More information

An Overview of SATS. Cho Wee Peng, CFO SIAS Corporate Profile & Investment Seminar 30 November 2013

An Overview of SATS. Cho Wee Peng, CFO SIAS Corporate Profile & Investment Seminar 30 November 2013 An Overview of SATS Cho Wee Peng, CFO SIAS Corporate Profile & Investment Seminar 30 November 2013 Forward Looking Statements This presentation may contain forward-looking statements regarding, among other

More information

Passenger: 17.2 Million (+3.9% yoy) OTP: 85.8% SLF: 73.3% Subsidiaries Operating Revenues US$415.2 Million Cargo Carried 219.4K ton (+10.

Passenger: 17.2 Million (+3.9% yoy) OTP: 85.8% SLF: 73.3% Subsidiaries Operating Revenues US$415.2 Million Cargo Carried 219.4K ton (+10. Value* 14.78 3.36 4.97 Volume** 32.85 9.59 13.43 Last Price 423 342 348 Market Cap.*** 8.74 8.85 9.01 Note: * Average Value in Billion Rupiah ** Average Volume in Million *** Market Capitalization in Trillion

More information

John Leahy Chief Operating Officer, Customers Airbus Annual Press Conference

John Leahy Chief Operating Officer, Customers Airbus Annual Press Conference John Leahy Chief Operating Officer, Customers Airbus Annual Press Conference 13 January 2014 A year of new industry records 2013 result Previous records Airbus records Airbus orders 1,619 gross 1,608 (Airbus

More information

The MRO Market & Key Trends

The MRO Market & Key Trends The MRO Market & Key Trends 11 July 2017 Reston, VA Richard Brown Principal richard.brown@icfi.com Today s Agenda 1. Industry Context 2. MRO Market 3. Trends to watch 2 Industry Context 3 INDUSTRY CONTEXT

More information

Helloworld Travel Limited results announcement Half year ended 31 December 2017

Helloworld Travel Limited results announcement Half year ended 31 December 2017 Helloworld Travel Limited results announcement Half year ended 31 December 2017 HIGHLIGHTS FOR THE HALF YEAR ENDED 31 DECEMBER 2017 Total Transaction Value (TTV) growth of 2.7% to $2.968 billion. Earnings

More information

ICAO Air Connectivity and Competition. Sijia Chen Economic Development Air Transport Bureau, ICAO

ICAO Air Connectivity and Competition. Sijia Chen Economic Development Air Transport Bureau, ICAO ICAO Air Connectivity and Competition Sijia Chen Economic Development Air Transport Bureau, ICAO Connectivity Concept Connectivity Concept Capacity of the transport value chain to move passengers, mail

More information

QANTAS ANNOUNCES PROFIT RESULT YEAR ENDED 30 JUNE 2009

QANTAS ANNOUNCES PROFIT RESULT YEAR ENDED 30 JUNE 2009 QANTAS ANNOUNCES PROFIT RESULT YEAR ENDED 30 JUNE 2009 HIGHLIGHTS Profit before tax of $181 million, in a year when the International Air Transport Association forecast US$9 billion in losses for global

More information

Fundamental Value and Profitable Growth

Fundamental Value and Profitable Growth - Fundamental Value and Profitable Growth Commerzbank German Investment Seminar 2010 Stephan Gemkow Member of the Executive Board & CFO Deutsche Lufthansa AG New York / January 11, 2010 Disclaimer This

More information

Forward looking statements

Forward looking statements 1 Forward looking statements This presentation contains forward-looking statements. Forward-looking statements often include words such as anticipate", "expect", "intend", "plan", "believe, continue or

More information

PRELIMINARY ACCOUNTS FOR 2012

PRELIMINARY ACCOUNTS FOR 2012 INTERIM REPORT FOR Q4 2012 AND INTERIM REPORT FOR Q4 2012 AND PRELIMINARY ACCOUNTS FOR 2012 HIGHLIGHTS Q4 with growth in volume and improved normalized EBITDA MNOK 261 improvement in normalized EBITDA

More information

THIRD QUARTER 2016 RESULTS. 3 November 2016

THIRD QUARTER 2016 RESULTS. 3 November 2016 THIRD QUARTER 2016 RESULTS 3 November 2016 Highlights of the Third Quarter 2016 Environment Operations Financial highlights Strong increase in airline industry capacity Terrorist attacks in Europe resulting

More information

P esent n atio i n o n f or o H alf l Y e Y ar E n E d n e d d d 31 D ecemb m e b r 2 008

P esent n atio i n o n f or o H alf l Y e Y ar E n E d n e d d d 31 D ecemb m e b r 2 008 Queensland WA & QLD Report Summary Strong revenue growth of 61.8% to $234.5m Strong cash flow from operations of $20.9m Net debt to equity 23.2% Underlying net profit of $8.2m (before goodwill impairment

More information

Gregg Gildemann Market Analysis

Gregg Gildemann Market Analysis Gregg Gildemann Market Analysis Boeing Commercial Airplanes 20 February 2018 The statements contained herein are based on good faith assumptions are to be used for general information purposes only. These

More information

Enhancing air travel options through a strong focus on profitability and innovation. 4 th Quarter 2017 Earnings Report Grupo Viva Aerobus

Enhancing air travel options through a strong focus on profitability and innovation. 4 th Quarter 2017 Earnings Report Grupo Viva Aerobus 4 th Quarter 2017 Earnings Report Grupo Viva Aerobus Enhancing air travel options through a strong focus on profitability and innovation 1 VIVA AEROBUS REPORTS GROWTH OF 17.9% IN TOTAL OPERATING REVENUE

More information

ERA Monthly Market Analysis

ERA Monthly Market Analysis ERA Monthly Market Analysis March 2018 Introduction For the production of these statistics in the following report, ERA has teamed up with partners Seabury Consulting and Innovata to provide a comprehensive

More information

TRANSFORMATION. Briefing. Thai Airways International PCL. 5 February 2015

TRANSFORMATION. Briefing. Thai Airways International PCL. 5 February 2015 Thai Airways International PCL 5 February 2015 TRANSFORMATION Briefing Operating Environment Environment Changes SEA was Asia s hub Middle East emerging as the new World hub Longer range aircraft technology

More information

JUNE 2016 GLOBAL SUMMARY

JUNE 2016 GLOBAL SUMMARY JUNE 2016 GLOBAL SUMMARY FAST FACTS The world of air transport, 2014 All figures are for 2014, unless otherwise stated, to give a single set of data for one year. Where available, the latest figures are

More information

World Fleet Forecast. Dick Forsberg September, 2014

World Fleet Forecast. Dick Forsberg September, 2014 World Fleet Forecast 214 233 Dick Forsberg September, 214 Dick Forsberg Head of Strategy, Avolon Dick Forsberg has over 4 years aviation industry experience, working in a variety of roles with airlines,

More information

Aviation Data and Analysis Seminar February Economics of Airports and Air Navigation Services Providers

Aviation Data and Analysis Seminar February Economics of Airports and Air Navigation Services Providers Aviation Data and Analysis Seminar 20-23 February 2017 Economics of Airports and Air Navigation Services Providers 250 7000 6000 200 5000 150 4000 Growth of air transport World recession SARS Freight Tonne

More information

MASTERS IN FINANCE EQUITY RESEARCH DEUTSCHE LUFTHANSA AG

MASTERS IN FINANCE EQUITY RESEARCH DEUTSCHE LUFTHANSA AG MASTERS IN FINANCE EQUITY RESEARCH DEUTSCHE LUFTHANSA AG AIRLINES INDUSTRY 8 JANUARY 2016 STUDENT: JOANA FILIPA SANTOS 23289@novasbe.pt Pinning Hopes on New Eurowings Recommendation: HOLD Challenging environment

More information

Delivering Transformative Growth. Dahlman Rose Global Transportation Conference September 8, 2011

Delivering Transformative Growth. Dahlman Rose Global Transportation Conference September 8, 2011 Delivering Transformative Growth Dahlman Rose Global Transportation Conference September 8, 2011 Safe Harbor Statement This presentation contains forward-looking statements within the meaning of the Private

More information

AVIATION MAINTENANCE INDUSTRY OUTLOOK & ECONOMIC IMPACT

AVIATION MAINTENANCE INDUSTRY OUTLOOK & ECONOMIC IMPACT AVIATION MAINTENANCE INDUSTRY OUTLOOK & ECONOMIC IMPACT MARCH 16, 2017 David A. Marcontell General Manager CAVOK, a division of Oliver Wyman 1003 Virginia Ave, Suite 300 Atlanta, GA 30354 Direct: +1 404

More information

INVESTOR MEETING. CEO Airbus Group CEO Airbus CFO Airbus Group & Airbus. Tom Enders Fabrice Bregier Harald Wilhelm PARIS AIRSHOW 2015

INVESTOR MEETING. CEO Airbus Group CEO Airbus CFO Airbus Group & Airbus. Tom Enders Fabrice Bregier Harald Wilhelm PARIS AIRSHOW 2015 1 INVESTOR MEETING PARIS AIRSHOW 2015 Tom Enders Fabrice Bregier Harald Wilhelm CEO Airbus Group CEO Airbus CFO Airbus Group & Airbus PATH TO ENHANCED VALUE 2 Healthy commercial aircraft market Transformation

More information

World Air Transport Statistics. Special AGM Edition WORLD AIR TRANSPORT SUMMIT

World Air Transport Statistics. Special AGM Edition WORLD AIR TRANSPORT SUMMIT World Air Transport Statistics Special AGM Edition WORLD AIR TRANSPORT SUMMIT 61 st IATA ANNUAL GENERAL MEETING TOKYO, 29-31 MAY 2005 World Air Transport Statistics Ref. No: 9011-AGM 2005 International

More information

AIR CARGO RECOVERY DRIVERS AND ROADBLOCKS Airports Council International North America Calgary

AIR CARGO RECOVERY DRIVERS AND ROADBLOCKS Airports Council International North America Calgary AIR CARGO RECOVERY DRIVERS AND ROADBLOCKS Airports Council International North America Calgary DAN MUSCATELLO Landrum & Brown September 9, 0 Metric Tons (in millions) GLOBAL AIR CARGO VOLUMES Global air

More information

JAPAN AIRLINES Co., Ltd. Financial Results 1 st Quarter Mar/2018(FY2017)

JAPAN AIRLINES Co., Ltd. Financial Results 1 st Quarter Mar/2018(FY2017) JAPAN AIRLINES Co., Ltd. Financial Results Mar/2018(FY2017) July 31, 2017 Today s Topics P.1 P.2 P.3 P.4~ P.6~ P.15~ Overview of Financial Results for Mar/18 Mar/18 (FY2017) 1 st quarter resulted in an

More information

FIRST QUARTER RESULTS 2017

FIRST QUARTER RESULTS 2017 FIRST QUARTER RESULTS 2017 KEY RESULTS In the 1Q17 Interjet total revenues added $4,421.5 million pesos that represented an increase of 14.8% over the income generated in the 1Q16. In the 1Q17, operating

More information

Good annual financial results supported by strengthening of international footprint

Good annual financial results supported by strengthening of international footprint Press release Good annual financial results supported by strengthening of international footprint February 28, 2018 The consistent growth across all our business units as well as the success of our diversification

More information

AIR BERLIN PLC Q2 RESULTS, APRIL JUNE Berlin, August 18 th, 2011

AIR BERLIN PLC Q2 RESULTS, APRIL JUNE Berlin, August 18 th, 2011 AIR BERLIN PLC Q2 RESULTS, APRIL JUNE 2011 Berlin, August 18 th, 2011 MANAGEMENT SUMMARY 1/5 Management Summary Yield 1) [EUR] +7.9% 99.75 107.68 Q2/10 PF Q2/11 ACT Measures: Increase of fuel surcharge

More information

THIRD QUARTER 2017 RESULTS 3 rd of November 2017

THIRD QUARTER 2017 RESULTS 3 rd of November 2017 THIRD QUARTER 2017 RESULTS 3 rd of November 2017 2017 THIRD QUARTER 2017: STRONG OPERATING RESULT DRIVEN BY SOLID TRAFFIC AND INCREASE IN UNIT REVENUE Robust Group traffic statistics +5.1% +4.1% Strong

More information

SIA ANALYST/MEDIA BRIEFING Q2 and 1H FY17/18 Results 8 November 2017

SIA ANALYST/MEDIA BRIEFING Q2 and 1H FY17/18 Results 8 November 2017 SIA ANALYST/MEDIA BRIEFING Q2 and 1H FY17/18 Results 8 November 2017 THE PARENT AIRLINE Q2 AND 1H FY17/18 RESULTS THE PARENT AIRLINE COMPANY OPERATING PERFORMANCE Q2 % 1H % FY17/18 Change FY17/18 Change

More information

20-Year Forecast: Strong Long-Term Growth

20-Year Forecast: Strong Long-Term Growth 20-Year Forecast: Strong Long-Term Growth 10 RPKs (trillions) 8 Historical Future 6 4 2 Forecast growth annual rate 4.8% (2005-2024) Long-Term Growth 2005-2024 GDP = 2.9% Passenger = 4.8% Cargo = 6.2%

More information

Ferrovial increases net profit by 12%, to 287 million euro

Ferrovial increases net profit by 12%, to 287 million euro All-time record backlog: 23.695 billion euro Ferrovial increases net profit by 12%, to 287 million euro Revenues expanded by 2.8% to 3.758 billion euro, supported by solid performance in the international

More information

Alitalia 2005 Full Year results and update on Business Plan implementation. March 2006

Alitalia 2005 Full Year results and update on Business Plan implementation. March 2006 Alitalia 2005 Full Year results and update on Business Plan implementation March 2006 Index Latest Alitalia major events Business Plan implementation in 2005 Focus on cost cutting 2005 results and targets

More information

KERRIE MATHER MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER. Macquarie Conference 4 MAY 2016

KERRIE MATHER MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER. Macquarie Conference 4 MAY 2016 KERRIE MATHER MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER Macquarie Conference 4 MAY 2016 Disclaimer General securities warning This presentation has been prepared by Sydney Airport Limited (ACN 165

More information

Aéroports de Paris Sound 2010 results

Aéroports de Paris Sound 2010 results Aéroports de Paris Sound 2010 results Paris, 24 February 2011 Annual results up despite a virtually stable traffic (+0.4%) over the year: Revenue up by 4.0% to 2,739 million EBITDA up by 5.0% to 927 million,

More information

J.P. Morgan Aviation, Transportation and Industrials Conference

J.P. Morgan Aviation, Transportation and Industrials Conference J.P. Morgan Aviation, Transportation and Industrials Conference March 3, 08 Scott Kirby President Safe Harbor Statement Certain statements included in this presentation are forward-looking and thus reflect

More information

1.3% millionn euros. Net debt of 5.4 improvement. euros to. Financial Year. the Air. operating. equipped. ness and. also focus on.

1.3% millionn euros. Net debt of 5.4 improvement. euros to. Financial Year. the Air. operating. equipped. ness and. also focus on. 25 th July 2014 Financial Year 2014: First Half results SECOND QUARTER Revenues of 6.45 billion euros, upp 1.7% like-for-like; passenger unit revenue up 1.3% at constant currency thanks to strict capacity

More information

American Airlines Group Inc.

American Airlines Group Inc. American Airlines Group Inc. Deutsche Bank Leveraged Finance Conference October 4, 2017 Tom Weir Vice President, Treasurer Cautionary Statement Regarding Forward-Looking Statements and Information This

More information

FY17 Full Year Results Management Call, 13 December Robinson Club Noonu, Maldives

FY17 Full Year Results Management Call, 13 December Robinson Club Noonu, Maldives Full Year Results Management Call, 3 December 207 Robinson Club Noonu, Maldives TUI Group TUI continues its strong performance track record in Third consecutive year of strong top line and earnings growth

More information

FULL YEAR OPERATING PROFIT RISES TO $259 MILLION 25 CENTS SPECIAL DIVIDEND PROPOSED OUTLOOK REMAINS CHALLENGING

FULL YEAR OPERATING PROFIT RISES TO $259 MILLION 25 CENTS SPECIAL DIVIDEND PROPOSED OUTLOOK REMAINS CHALLENGING 8 May 2014 Page 1 of 5 No. 02/14 8 May 2014 FULL YEAR OPERATING PROFIT RISES TO $259 MILLION 25 CENTS SPECIAL DIVIDEND PROPOSED OUTLOOK REMAINS CHALLENGING GROUP FINANCIAL PERFORMANCE Financial Year 2013-14

More information

Investor & analyst day. London, 28 September 2011

Investor & analyst day. London, 28 September 2011 Investor & analyst day London, 28 September 2011 2 years ago Andrew Macfarlane Fundamentally attractive airline But Assets Robust balance sheet Modern Airbus fleet; 50% owned Valuable route network & strategic

More information

Net Debt, $m 1, ,733.7

Net Debt, $m 1, ,733.7 Virgin Australia Holdings Limited (ASX: VAH) FY17 Results: Stronger Cash and Balance Sheet, Statutory and Underlying Loss, Outlook Improving 1 Summary of FY17 Financial Outcomes Group Underlying Loss Before

More information

PT GARUDA INDONESIA (PERSERO) Tbk. Analyst Meeting & Presentation First Quarter 2014 Result Announcement Jakarta, 30 April 2014

PT GARUDA INDONESIA (PERSERO) Tbk. Analyst Meeting & Presentation First Quarter 2014 Result Announcement Jakarta, 30 April 2014 PT GARUDA INDONESIA (PERSERO) Tbk. Analyst Meeting & Presentation First Quarter 2014 Result Announcement Jakarta, 30 April 2014 0 Shareholders & Performance List of Shareholders as of 31 March 2014 Number

More information

For personal use only. Merrill Lynch Emerging Stars Conference

For personal use only. Merrill Lynch Emerging Stars Conference Merrill Lynch Emerging Stars Conference October 2013 Performance History Share Price Performance 12 Months 150 100 18.8% (3.6%) 14 Oct 2013 AHE ASX Small Ords Share price $3.72 2193.21 50 0 Oct-12 Dec-12

More information

United Continental Holdings, Inc (NYSE: UAL) ONE YEAR PRICE RANGE : $ LAST PRICE: $ ANALYST RATING: Sell

United Continental Holdings, Inc (NYSE: UAL) ONE YEAR PRICE RANGE : $ LAST PRICE: $ ANALYST RATING: Sell United Continental Holdings, Inc (NYSE: UAL) ONE YEAR PRICE RANGE : $61.91 68.76 LAST PRICE: $68.39 ANALYST RATING: Sell VALUATION DATE: August 3, 2017 NEXT EARNINGS DATE: October 17, 2017 Investment Thesis:

More information