ALASKA AIRLINES: TAKING FLIGHT

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "ALASKA AIRLINES: TAKING FLIGHT"

Transcription

1 ALASKA AIRLINES: TAKING FLIGHT Presented to Bradley Tilden, CEO of Alaska Air Group Seattle Washington // January 2017 Allison Lennox Kenny Laurin Abeer Habibullah Kenny Laurin

2 PROBLEM Should Alaska Airlines keep the VA brand alive or get rid of it when the merger is approved? It is the thing I am losing the most sleep over with the merger. ALASKA AIRLINES 2

3 EXECUTIVE SUMMARY Issues Operate under one brand or two? Risk of alienating Virgin customers Need to manage fleet integration Need to address cultural differences Different in-flight entertainment Need to integrate IT Need to address loyalty programs High competition Recommendation Absorb Virgin Airlines into Alaska Airline brand phased approach for feasibility Identify common values (low price, customer service, and innovation) and incorporate Virgin best practices (Red inflight entertainment) into Alaska Airlines Gradual phase out of Virgin fleet Careful change management program and development of Alaska Airlines Academy for training Move to Virgin Airline s Red system Update to Virgin s enhanced Sabre Integrate into one program with options: collects based on miles or ticket price Merge brands to gain economies of scale and compete $1.7 billion profit by 2020 ALASKA AIRLINES 3

4 WHAT DOES THAT REALLY MEAN? Alaska Airlines should absorb the Virgin Airlines brand, taking the best of each brand to create an experience that will serve both company s customers Common values of low fares, customer service and innovation ALASKA AIRLINES 4

5 WHY DID YOU BUY? To gain key destinations and slots (SFO and LAX) It s high time the airline strengthened its network beyond its core routes Both airlines are known for strong growth, distinct styles and outstanding customer service Expanding route network and access to the west coast was the key reason for the acquisition ALASKA AIRLINES 5

6 CROWDED SKIES Highly competitive space the Big Four as well as lower cost airlines (Delta and Jet Blue) Merger will bring together two profitable airlines to create strong competition for the big four The only way to fight competition is by achieving significant scale, which would be difficult without consolidation The best way to realize advantages is to merge to gain economies of scale ALASKA AIRLINES 6

7 SEEMINGLY DISPARATE BRANDS VIRGIN Cool, hip, bicoastal urban traveller ALASKA Tech savvy, west coast leisure traveller This addresses who they are, not what they want: Innovation Affordable prices Customer service You can make a long flight feel short with the right customer experience ALASKA AIRLINES 7

8 PRACTICAL, REAL WORLD, IMPLEMENTABLE We re not going to rip the Band Aid off we re going to take a good look at what Virgin does and try to adopt what s best. We are recommending a realistic and phased implementation ALASKA AIRLINES 8

9 FASTEN YOUR SEAT-BELTS KENNY WILL PROVIDE FURTHER DETAIL ON THE RECOMMENDATION

10 ALASKA AIRLINES & VIRGIN AMERICA Alaska Airlines For the same price, you just get more Friendly & traditional service High customer focus - lowest complaint rate in the US Streamlined cost structure from efficient operations 20 minute baggage guarantee Custom leather seats, larger overhead bins Innovation department Pioneered bag tagging, accept Goggle wallet, biometric ID in board rooms Virgin America Hip image, chic service, innovative Enjoyable customer experience Low fare airline with efficient operations Red innovation with inflight entertainment system Interactive safety video & inflight social network Information technology expertise ALASKA AIRLINES 10

11 MERGED - ALASKA AIRLINES Alaska Airlines Friendly & traditional service High customer focus - lowest complaint rate in the US Streamlined cost structure from efficient operations 20 minute baggage guarantee Custom leather seats, larger overhead bins Innovation department Pioneered bag tagging, accept Goggle wallet, biometric ID in board rooms Virgin America Hip image, chic service, innovative Enjoyable customer experience Low fare airline with efficient operations Red innovation with inflight entertainment system Interactive safety video & inflight social network Information technology expertise Brands have many similarities focused around customer experience ALASKA AIRLINES 11

12 ALASKA AIRLINES & VIRGIN AMERICA Better value proposition High customer service focus Lower price than legacy carriers Improved performance metrics on-time, baggage, complaints Leverage Alaska competency in timing Leverage Virgin competency in handling baggage Innovation Capability of introducing and adopting new technology Leverage Virgin s Red inflight system & technology Combining competencies will serve all customers ALASKA AIRLINES 12

13 FLEET Standardize fleet move to all Boeing aircraft Remove the need to cross train crews Eliminate need for high amount of parts inventory Lower maintenance costs overall with streamlined operations Sell 35 owned planes and lease back from financing firm Plane transition Do not renew Airbus aircraft leases - lease new Boeing aircraft to operate on Virgin routes Transition over time 6 per year for 7 years, training completed at same rate Retrofit existing Boeing aircraft with in-flight entertainment systems Younger planes, under 12 years old Standardizing the fleet over time will best position for Alaska Airlines for the future ALASKA AIRLINES 13

14 ROUTES Transition Alaska to take over Virgin routes Align with fleet transition and crew training Steal market share from Big 4 with value proposition Alaska Airlines will take over existing Virgin routes ALASKA AIRLINES 14

15 SUBSIDIARY CONSIDERATIONS Issue Loyalty plan Pricing Information technology Non ticket revenue Recommendation Merge both loyalty plan and offer customers the option to earn cash rewards & mile rewards Maintain Alaskan Airlines dynamic pricing model, below legacy carriers Migrate to using Virgin America IT system given enhanced functions Not a large challenge to migrate given the same Sabre system Charge for meals, seat selection, baggage, fuel surcharge Creating the optimal experience for the customer will realize value of acquisition ALASKA AIRLINES 15

16 PREPARE FOR TAKE-OFF ABEER WILL EXPLAIN THE FINANCIALS

17 Alaska has one of the highest margins in the U.S.; you need to capitalize on your business model s efficiencies ALASKA AIRLINES 17

18 As your gate and route access increases your focus should be grabbing market share from the Big Four and other airlines. ALASKA AIRLINES 18

19 Need a strategy to control reduce debt and interest expense ALASKA AIRLINES 19

20 ASSUMPTIONS 2016 onwards financials are consolidated with Virgin Airlines (based on seat miles) Available seat miles increase at CAGR (5 year average) of 7.7% Average load factor of 85% Operating revenues per ASM of 14.6 (5 year average) Net income margin of will improve to 15% by 2020 ALASKA AIRLINES 20

21 Available seat miles (000,000) Load factor 84% 85% 85% 85% 85% 85% Revenue passengers miles Operating revenues per ASM (RASM) in Operating revenues Net Income ALASKA AIRLINES 21

22 Net income will increase to $1.7 billion by 2020 ALASKA AIRLINES 22

23 SELL-AND-LEASEBACK STRATEGY Assumptions: $5 billion out of $6.5 billion total assets are aircrafts Average value per aircraft of $28.5 million (based on 175 fleet) We recommend you sell-and-leaseback 35 aircrafts over 3 years, helping you raise $1 billion to reduce debt level This strategy offers a tax advantage as well ALASKA AIRLINES 23

24 COST OF IMPLEMENTATION Initiative Type Cost (US$) Creation of AAAcademy program - Facility retrofits Marketing - Merger of loyalty and booking technology - Consumer facing internal - External facing Hiring AAAcademy staff - 1 Sr. Manager - 3 Regional Managers Outfitting new planes One-time On-going (3 years) One-time Yearly 8 per year for 3 years 6 per year for 4 afterwards Installing Red in existing AA planes 1 per month for 3 years 1M 10-15M 1M 1M 4M $150k $115K $1-1.5M per plane $250k per plane ALASKA AIRLINES 24

25 ALTERNATIVES Don t merge Virgin America operations Expand Internationally STOP! Merge the two companies immediately ALASKA AIRLINES 25

26 DON T MERGE VIRGIN AMERICA OPERATIONS VA market is small, you should target the bigger pie Forgo cost efficiencies you may actualize from merging Passengers are increasingly price and efficiency sensitive Paying 0.7% revenues in perpetuity to Virgin Group Airline industry has consolidated over the past decade because the business model lends itself to it STOP! Do not keep Virgin and Alaska seperate! ALASKA AIRLINES 26

27 EXPAND INTERNATIONALLY Different operational mode and more complexity (turnaround time, cabotage, customs) Slot acquisition is difficult in international airports Fleet is not optimal for long-haul international flights STOP! Do not expand internationally! ALASKA AIRLINES 27

28 MERGE THE TWO COMPANIES IMMEDIATELY Capital intensive Risk of alienating current customer base Impact of cultural differences on employees STOP! Do not rush combining the two companies! ALASKA AIRLINES 28

29 RECOMMENDATION Alaska Airlines should absorb the Virgin Airlines brand, taking the best of each brand to create an experience that will serve both company s customers Common values of low fares, customer service and innovation ALASKA AIRLINES 29

30 CRUISING AT ALTITUDE JEFF WILL RUN THROUGH THE IMPLEMENTATION

31 CUSTOMER JOURNEY Booking & Collecting Boarding & Flying Landing & Unloadiing ALASKA AIRLINES 31

32 BOOKING & COLLECTING Booking Merge booking software immediately Update to most recent version of Sabre Make code-sharing agreements immediately Collecting Multi-tier rewards model Offer choice & flexibility to members Combination of software makes a strong new offering ALASKA AIRLINES 32

33 BOARDING & FLYING Boarding: Both employee groups are happy & productive maintain in short term Look for quick wins in operation efficiency Key indicators: On-time arrivals, load factor, fewest complaints Flying: Gradual turnover of fleet starting with Red in AA planes No clear class divisions offer economy premium seats ALASKA AIRLINES 33

34 LANDING & UNLOADING Adopt best practices from flight & ground crews in both cultures Must improve baggage consistency currently worst in US Must maintain fewest complaints improve VA operations Reduce VA delays #1 across new company On-ground & in-flight best practices taught to key crew leads ALASKA AIRLINES 34

35 PRE-FLIGHT ANNOUNCEMENTS (MARKETING) Customers need to be made aware of advantages For the same price, you just get more Highlight advantages of combined loyalty program Demonstrate world class in-flight experience Assuage concerns about pricing changes ALASKA AIRLINES 35

36 ROLLOUT ITINERARY Phase 1: 18 months Culture & Quick Wins Phase 2: 2-5 years Transition Phase Phase 3: 5-10 years Integration Phase

37 Task CULTURE & QUICK Responsibility WINS KPI/Criteria Time Code-sharing efficiencies Existing marketing & operations teams - High load factor - Growing revenue seat miles 0-3 months Develop culture program Small cross-functional teams - Consistent feedback - Buy in at top, with key players 0-6 months Merge & launch rewards program Hire AA Academy employees Retrofit existing training facilities Marketing from AA & VA - Clear communication to existing members - Additional buy in from new members HR from VA & AA - Experience in change management - Understanding of industry AAA teams & operations - Consistent branding - Development of a strong new feel 0-12 months 0-6 months 6-12 months Begin training key staff AAA teams & crew leads - Feeling of ownership - Consistent feedback loops ALASKA AIRLINES months

38 CULTURE IS CRITICAL Buy in from top management Input from the start Identify champions & resistors ALASKA AIRLINES 38

39 ALASKA AIR ACADEMY New training program Jointly developed Input from all levels Own it from the start Retrofit existing facilities to create consistency & urgency ALASKA AIRLINES 39

40 AVOIDING TURBULENCE Risk Mitigation Likelihood Impact Big Four competitors respond Shareholders unhappy with merger Loss of Virgin Atlantic customers Flight crews unionize Better value proposition, more cost efficient operations Reach synergies quickly & carefully M M Integrate the best parts of Virgin into AA Explore employee ownership model such as Southwest, WestJet Fuel prices fluctuate Small fuel surcharges for customers H L H M M H L H

41 FLYING INTO THE FUTURE These are ideas we are not recommending right now, but should be considered in the future. AA Vacations Partnerships with hotels, taxi companies, tour companies to provide packages

42 PREPARE FOR LANDING ALLISON WILL WRAP-UP

43 RECOMMENDATION Alaska Airlines should absorb the Virgin Airlines brand, taking the best of each brand to create an experience that will serve both company s customers Common values of low fares, customer service and innovation ALASKA AIRLINES 43

44 EXECUTIVE SUMMARY Issues Operate under one brand or two? Risk of alienating Virgin customers Need to manage fleet integration Need to address cultural differences Different in-flight entertainment Need to integrate IT Need to address loyalty programs High competition Recommendation Absorb Virgin Airlines into Alaska Airline brand phased approach for feasibility Identify common values (low price, customer service, and innovation) and incorporate Virgin best practices (Red inflight entertainment) into Alaska Airlines Gradual phase out of Virgin fleet Careful change management program and development of Alaska Airlines Academy for training Move to Virgin Airline s Red system Update to Virgin s enhanced Sabre Integrate into one program with options: collects based on miles or ticket price Merge brands to gain economies of scale and compete $1.7 billion profit by 2020 ALASKA AIRLINES 44

2010 ANNUAL GENERAL MEETING. May 4, 2010

2010 ANNUAL GENERAL MEETING. May 4, 2010 2010 ANNUAL GENERAL MEETING May 4, 2010 FORWARD-LOOKING STATEMENT Certain information in this presentation and statements made during this presentation, including any question and answer session, may contain

More information

American Airlines Group Inc.

American Airlines Group Inc. American Airlines Group Inc. Bank of America Merrill Lynch 2018 Transportation Conference Derek Kerr Chief Financial Officer Cautionary Statement Regarding Forward-Looking Statements and Information This

More information

2016 Annual Shareholders Meeting

2016 Annual Shareholders Meeting 2016 Annual Shareholders Meeting Safe harbor This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities

More information

JAL Group Announces its FY Medium-Term Business Plan

JAL Group Announces its FY Medium-Term Business Plan JAL Group Announces its FY2006-2010 Medium-Term Business Plan -Mobilize the Group s Strengths to Regain Trust - Tokyo, Thursday March 2, 2006: The JAL Group today announced its medium-term business plan

More information

STAYING TRUE. BofAML Global Transportation Conference. May

STAYING TRUE. BofAML Global Transportation Conference. May STAYING TRUE BofAML Global Transportation Conference May 19 2011 FORWARD-LOOKING STATEMENT Certain information in this presentation and statements made during this presentation, including any question

More information

Bank of America Merrill Lynch Global Transportation Conference. June 16, 2010

Bank of America Merrill Lynch Global Transportation Conference. June 16, 2010 Bank of America Merrill Lynch Global Transportation Conference June 16, 2010 FORWARD-LOOKING STATEMENT Certain information in this presentation and statements made during this presentation, including any

More information

Investor Presentation

Investor Presentation Investor Presentation Safe harbor This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange

More information

2004/05 Full Year Results Presentation to Investors

2004/05 Full Year Results Presentation to Investors Geoff Dixon Chief Executive Officer 2004/05 Full Year Results Presentation to Investors 18 August 2005 Group Highlights 12 months to June 2005 12 months to June 2004 Increase/ (decrease) % Sales and operating

More information

Thank you for participating in the financial results for fiscal 2014.

Thank you for participating in the financial results for fiscal 2014. Thank you for participating in the financial results for fiscal 2014. ANA HOLDINGS strongly believes that safety is the most important principle of our air transportation business. The expansion of slots

More information

ANA HOLDINGS Announces Mid-Term Corporate Strategy for FY ~Strengthening the foundations of the business and looking into the future~

ANA HOLDINGS Announces Mid-Term Corporate Strategy for FY ~Strengthening the foundations of the business and looking into the future~ ANA HOLDINGS NEWS ANA HOLDINGS Announces Mid-Term Corporate Strategy for FY2018-2022 ~Strengthening the foundations of the business and looking into the future~ TOKYO, February 1, 2018 ANA HOLDINGS (hereinafter

More information

SHORT BUY. Price:$6.04 Target: $4.20. Price: $5.68 Target: $8.00.

SHORT BUY. Price:$6.04 Target: $4.20. Price: $5.68 Target: $8.00. BUY SHORT Price: $5.68 Target: $8.00 Price:$6.04 Target: $4.20 valuehuntr@gmail.com Overview Highest ranked carrier in performance and quality Best safety record (never had a fatal accident in 80 years

More information

INVESTOR PRESENTATION. May 2015

INVESTOR PRESENTATION. May 2015 INVESTOR PRESENTATION May 2015 Forward-looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect the

More information

Air China Limited Announces 2009 Annual Results

Air China Limited Announces 2009 Annual Results Air China Limited Announces 2009 Annual Results Record Operating Profit in Complex Market Environment Strengthened Position to Capture Growth Opportunities Hong Kong April 22, 2010 Air China Limited (

More information

2018 Annual Meeting of Stockholders

2018 Annual Meeting of Stockholders 2018 Annual Meeting of Stockholders Playing the Long Game June 13, 2018 Doug Parker Chairman and Chief Executive Officer American Airlines Group Inc. Cautionary Statement Regarding Forward-Looking Statements

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

INVESTOR PRESENTATION. Imperial Capital Global Opportunities Conference September 2015

INVESTOR PRESENTATION. Imperial Capital Global Opportunities Conference September 2015 INVESTOR PRESENTATION Imperial Capital Global Opportunities Conference September 2015 Forward-looking Statements This presentation contains forward-looking statements within the meaning of the Private

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

2017 Marketing and Communications Conference. November 6, 2017

2017 Marketing and Communications Conference. November 6, 2017 2017 Marketing and Communications Conference November 6, 2017 1 2 Introduction Carrie Kenrick State of the Industry Industry Consolidation Financial Trends Ancillary Product / Customer Segmentation Fleet

More information

Media Release. Qantas Group Full Year 2017 Financial Result 1. Sydney, 25 August 2017

Media Release. Qantas Group Full Year 2017 Financial Result 1. Sydney, 25 August 2017 Media Release Qantas Group Full Year 2017 Financial Result 1 Sydney, 25 August 2017 Underlying Profit Before Tax: $1,401 million (second highest in Qantas history) Statutory Profit Before Tax: $1,181 million

More information

CONTACT: Investor Relations Corporate Communications

CONTACT: Investor Relations Corporate Communications NEWS RELEASE CONTACT: Investor Relations Corporate Communications 435.634.3200 435.634.3553 Investor.relations@skywest.com corporate.communications@skywest.com SkyWest, Inc. Announces Second Quarter 2017

More information

Joshua Koshy, Executive Vice President & CFO. Changing the Game

Joshua Koshy, Executive Vice President & CFO. Changing the Game Joshua Koshy, Executive Vice President & CFO Changing the Game Changing the Game Canada s #1 domestic, trans-border and international airline Strong brand recognition Innovative revenue model driving customer

More information

JAL Group Announces FY Medium Term Revival Plan

JAL Group Announces FY Medium Term Revival Plan JAL Group Announces FY2007-2010 Medium Term Revival Plan - Strengthening safety, focusing on customers, rebuilding the business foundation and realizing stable profits- Tokyo, February 6, 2007: The JAL

More information

Air Transport Industry

Air Transport Industry Air Transport Industry Structure, Economics, Operations Northwestern University Transportation Center April 28, 2016 Peter L. Smith Context The Presenter BA Harvard, MST Northwestern, MBA Foster School

More information

Scotia Capital Transportation & Aerospace Conference. June 5, 2007

Scotia Capital Transportation & Aerospace Conference. June 5, 2007 Scotia Capital Transportation & Aerospace Conference June 5, 2007 1 2 Changing the Game Changing the Game Canada s #1 domestic, trans-border and international airline Strong brand recognition Innovative

More information

THE FIRST CHOICE FOR FREQUENT TRAVELERS

THE FIRST CHOICE FOR FREQUENT TRAVELERS THE FIRST CHOICE FOR FREQUENT TRAVELERS One of SAS s strategic priorities is to be the first choice for frequent travelers. We define frequent travelers as individuals who take five or more return flights

More information

Forward-looking Statements

Forward-looking Statements September 21, 2011 Forward-looking Statements This presentation contains certain forward-looking statements with respect to the Corporation. These forward-looking statements, by their nature, necessarily

More information

FORWARD-LOOKING STATEMENT

FORWARD-LOOKING STATEMENT CIBC 9th Annual Eastern Institutional Investor Conference September 23, 21 FORWARDLOOKING STATEMENT Certain information in this presentation and statements made during this presentation, including any

More information

Corporate Presentation National Bank Transportation and Logistics Conference March 24, 2010

Corporate Presentation National Bank Transportation and Logistics Conference March 24, 2010 Corporate Presentation National Bank Transportation and Logistics Conference March 24, 2010 Forwardlooking statement Certain information in this presentation and statements made during this presentation,

More information

Air China Limited Announces 2010 Interim Results

Air China Limited Announces 2010 Interim Results Air China Limited Announces 2010 Interim Results Record High First Half Results Leveraging New Opportunities to Drive Growth Hong Kong August 25, 2010 Air China Limited ( Air China or the Company, together

More information

2007/08 Full Year Results Investor Briefing

2007/08 Full Year Results Investor Briefing 2007/08 Full Year Results Investor Briefing Highlights of Result Profit before tax up 46% to $1,408 million Up 36% on the reported result Margin improvement $3 billion of Sustainable Future Benefits achieved

More information

WestJet announces 18th consecutive quarter of profitability Airline reports third quarter net earnings of $31.4 million

WestJet announces 18th consecutive quarter of profitability Airline reports third quarter net earnings of $31.4 million FOR IMMEDIATE RELEASE WestJet announces 18th consecutive quarter of profitability Airline reports third quarter net earnings of $31.4 million CALGARY, ALBERTA. November 4, 2009. WestJet (TSX:WJA) today

More information

Air China Limited 2014 Annual Results Under IFRS

Air China Limited 2014 Annual Results Under IFRS Air China Limited 2014 Annual Results Under IFRS March 2015 Agenda Part 1 Results Highlights Part 2 Business Overview Part 3 Financial Overview Part 4 Outlook Part 1 Results Highlights Gradual Global Economic

More information

Record Result. 2006/07 Full Year Results Investor Presentation. Moved on successfully following bid. Profit before tax % to $1,032 million

Record Result. 2006/07 Full Year Results Investor Presentation. Moved on successfully following bid. Profit before tax % to $1,032 million 2006/07 Full Year Results Investor Presentation August 16 2007 Record Result Moved on successfully following bid Profit before tax + 53.8% to $1,032 million Group returning above Cost of Capital 2 Key

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

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

ANA HOLDINGS Management Strategy Update

ANA HOLDINGS Management Strategy Update ANA HOLDINGS NEWS ANA HOLDINGS Management Strategy Update TOKYO, April 28, 2017 - ANA HOLDINGS (hereafter ANA HD ) today provides an update to its FY2016-2020 Mid-Term Management Strategy, set out in January

More information

Stifel 2017 Transportation & Logistics Conference Tammy Romo, EVP and CFO

Stifel 2017 Transportation & Logistics Conference Tammy Romo, EVP and CFO Stifel 2017 Transportation & Logistics Conference Tammy Romo, EVP and CFO Cautionary Statement Regarding Forward-Looking Statements This presentation contains forward-looking statements within the meaning

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

Corporate presentation CIBC Whistler Institutional Investor Conference January 21, 2010

Corporate presentation CIBC Whistler Institutional Investor Conference January 21, 2010 Corporate presentation CIBC Whistler Institutional Investor Conference January 21, 2010 Forwardlooking statement Certain information in this presentation and statements made during this presentation, including

More information

Gerry Laderman SVP Finance, Procurement and Treasurer

Gerry Laderman SVP Finance, Procurement and Treasurer Gerry Laderman SVP Finance, Procurement and Treasurer Safe Harbor Statement Certain statements included in this release are forward-looking and thus reflect our current expectations and beliefs with respect

More information

Southwest Airlines Co. (NYSE: LUV) ONE YEAR PRICE RANGE : $ $73.62 LAST PRICE: $ ANALYST RATING: Long. VALUATION DATE: July 13, 2017

Southwest Airlines Co. (NYSE: LUV) ONE YEAR PRICE RANGE : $ $73.62 LAST PRICE: $ ANALYST RATING: Long. VALUATION DATE: July 13, 2017 Southwest Airlines Co. (NYSE: LUV) ONE YEAR PRICE RANGE : $69.66 - $73.62 LAST PRICE: $62.08 ANALYST RATING: Long VALUATION DATE: July 13, 2017 NEXT EARNINGS DATE: July 27, 2017 Investment Thesis: Dominant

More information

2Q 2018 Investor Presentation. Alaska Air Group

2Q 2018 Investor Presentation. Alaska Air Group 2Q 2018 Investor Presentation Alaska Air Group Safe harbor This presentation may contain forward-looking statements subject to the safe harbor protection provided by Section 27A of the Securities Act of

More information

Copa Holdings Reports Net Income of $49.9 million and EPS of $1.18 for the Second Quarter of 2018

Copa Holdings Reports Net Income of $49.9 million and EPS of $1.18 for the Second Quarter of 2018 Copa Holdings Reports Net Income of $49.9 million and EPS of $1.18 for the Second Quarter of 2018 Panama City, Panama --- Aug 8, 2018. Copa Holdings, S.A. (NYSE: CPA), today announced financial results

More information

Transportation and Aerospace Conference 2014

Transportation and Aerospace Conference 2014 presents at Transportation and Aerospace Conference 2014 Toronto November 13, 2014 CAUTION REGARDING FORWARD-LOOKING INFORMATION Air Canada s public communications may include forward-looking statements

More information

ANA Reports Record Profits for FY2012

ANA Reports Record Profits for FY2012 ANA HOLDINGS NEWS ANA Reports Record Profits for FY2012 TOKYO April 30, 2013 - ANA Holdings today reports consolidated financial for the fiscal year ended March, 2013. Financial and Operational Highlights

More information

Evaluation of Alternative Aircraft Types Dr. Peter Belobaba

Evaluation of Alternative Aircraft Types Dr. Peter Belobaba Evaluation of Alternative Aircraft Types Dr. Peter Belobaba Istanbul Technical University Air Transportation Management M.Sc. Program Network, Fleet and Schedule Strategic Planning Module 5: 10 March 2014

More information

Page 1. John Guscic Managing Director, Webjet Limited

Page 1. John Guscic Managing Director, Webjet Limited Page 1 John Guscic Managing Director, Webjet Limited spanning both consumer markets (through B2C) and global wholesale markets (through B2B) B2C TRAVEL Leading online consumer travel brands B2B TRAVEL

More information

Montie Brewer, President and CEO Joshua Koshy, Executive VP and CFO UBS Transport Conference

Montie Brewer, President and CEO Joshua Koshy, Executive VP and CFO UBS Transport Conference Montie Brewer, President and CEO Joshua Koshy, Executive VP and CFO UBS Transport Conference 1 London, England September 17, 2007 Agenda Strongly positioned international airline Investment proposition

More information

QUT BlueShift Business Case Competition 2018 Business Case

QUT BlueShift Business Case Competition 2018 Business Case QUT BlueShift Business Case Competition 2018 Business Case Table of Contents Confidentiality... 2 1.0 Airlines in Australia... 3 2.0 Loyalty Programs... 4 3.0 Virgin Australia Group... 5 4.0 Velocity Frequent

More information

Investor Update September 2017 PARTNER OF CHOICE EMPLOYER OF CHOICE INVESTMENT OF CHOICE

Investor Update September 2017 PARTNER OF CHOICE EMPLOYER OF CHOICE INVESTMENT OF CHOICE Investor Update September 2017 PARTNER OF CHOICE EMPLOYER OF CHOICE INVESTMENT OF CHOICE 1 Forward Looking Statements In addition to historical information, this presentation contains forward-looking statements

More information

STAYING TRUE. Scotia Capital Transportation & Aerospace Conference. November 15, 2011

STAYING TRUE. Scotia Capital Transportation & Aerospace Conference. November 15, 2011 STAYING TRUE Scotia Capital Transportation & Aerospace Conference November 15, 2011 FORWARD-LOOKING STATEMENT Certain information in this presentation and statements made during this presentation, including

More information

CONTACT: Investor Relations Corporate Communications

CONTACT: Investor Relations Corporate Communications NEWS RELEASE CONTACT: Investor Relations Corporate Communications 435.634.3200 435.634.3553 Investor.relations@skywest.com corporate.communications@skywest.com SkyWest, Inc. Announces Second Quarter 2016

More information

OPERATING AND FINANCIAL HIGHLIGHTS. Subsequent Events

OPERATING AND FINANCIAL HIGHLIGHTS. Subsequent Events Copa Holdings Reports Net Income of $103.8 million and EPS of $2.45 for the Third Quarter of 2017 Excluding special items, adjusted net income came in at $100.8 million, or EPS of $2.38 per share Panama

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

Financial Review. Changing the Game

Financial Review. Changing the Game Financial Review Changing the Game 1 $7,238 +8.1% Revenue (1) $ Millions $7,824 $10,095 30-Sep-05 30-Sep-06 12 Months Ended Sept. 9 months ended 30, 2006 2 8.1% revenue growth achieved with only 3.8% ASM

More information

OPERATING AND FINANCIAL HIGHLIGHTS

OPERATING AND FINANCIAL HIGHLIGHTS Copa Holdings Reports Financial Results for the Fourth Quarter of 2018 Excluding special items, adjusted net profit came in at $44.0 million, or Adjusted EPS of $1.04 Panama City, Panama --- February 13,

More information

SkyWest, Inc. Announces First Quarter 2018 Profit

SkyWest, Inc. Announces First Quarter 2018 Profit NEWS RELEASE CONTACT: Investor Relations Corporate Communications 435.634.3200 435.634.3553 Investor.relations@skywest.com corporate.communications@skywest.com SkyWest, Inc. Announces First Quarter 2018

More information

UBS Transport Conference September 15 th Jean-Cyril Spinetta

UBS Transport Conference September 15 th Jean-Cyril Spinetta UBS Transport Conference September 15 th 2008 Jean-Cyril Spinetta Air France-KLM key operating data Fiscal year 2007-08 The number one airline worldwide in terms of revenues* and number one in Europe in

More information

A SMARTER HOTEL INVESTMENT

A SMARTER HOTEL INVESTMENT A SMARTER HOTEL INVESTMENT MICROTEL 1 LETTER FROM THE MASTERBUILT TEAM 2 THE MICROTEL INN & SUITES BY WYNDHAM STORY 3 MASTERBUILT HOTELS AND WYNDHAM HOTEL GROUP 4 MICROTEL INN & SUITES BY WYNDHAM: A SMARTER

More information

SPEECH BY WILLIE WALSH, CHIEF EXECUTIVE, INTERNATIONAL AIRLINES GROUP. Annual General Meeting, Thursday June 14, Check against delivery

SPEECH BY WILLIE WALSH, CHIEF EXECUTIVE, INTERNATIONAL AIRLINES GROUP. Annual General Meeting, Thursday June 14, Check against delivery SPEECH BY WILLIE WALSH, CHIEF EXECUTIVE, INTERNATIONAL AIRLINES GROUP Annual General Meeting, Thursday June 14, 2018 Check against delivery FINANCIAL PERFORMANCE Good afternoon Ladies and Gentleman. I

More information

16.71 J The Airline Industry Fall Team #4: Philip Cho Imbert Fung Payal Patel Michael Plasmeier Andreea Uta December 6, 2010

16.71 J The Airline Industry Fall Team #4: Philip Cho Imbert Fung Payal Patel Michael Plasmeier Andreea Uta December 6, 2010 16.71 J The Airline Industry Fall 2010 Team #4: Philip Cho Imbert Fung Payal Patel Michael Plasmeier Andreea Uta December 6, 2010 OPERATIONS Route Network & Fleet Composition Frequency & Schedules Maintenance

More information

Air Canada. Transportation & Aerospace Conference presents at the. Toronto November 20, 2012

Air Canada. Transportation & Aerospace Conference presents at the. Toronto November 20, 2012 Air Canada presents at the Transportation & Aerospace Conference 2012 Toronto November 20, 2012 1 2 Caution Regarding Forward-looking Information Air Canada s public communications may include forward-looking

More information

How to Predict an Airline Financial Crisis

How to Predict an Airline Financial Crisis How to Predict an Airline Financial Crisis Prepared for: Aircraft Finance and Lease Russia & CIS Conference 14 April 2016 0 1. WHO WE ARE 2. THEORY 3. PRACTICE 20 min presentation 5 min Q&A 1 WHO WE ARE

More information

OUTLINE OF JAL GROUP MEDIUM RANGE CORPORATE PLAN FOR THE YEARS 2004 THROUGH 2006

OUTLINE OF JAL GROUP MEDIUM RANGE CORPORATE PLAN FOR THE YEARS 2004 THROUGH 2006 OUTLINE OF JAL GROUP MEDIUM RANGE CORPORATE PLAN FOR THE YEARS 2004 THROUGH 2006 Tokyo March 10, 2004: FY2003 business has been badly affected in terms of demand and on revenue by the negative impact of

More information

AIRBUS. H Roadshow Presentation. July 2018

AIRBUS. H Roadshow Presentation. July 2018 AIRBUS H1 2018 Roadshow Presentation July 2018 H1 18 HIGHLIGHTS 2 Robust commercial aircraft environment Backlog of ~7,200 a/c underpins ramp-up plans H1 financials reflect mainly A350 performance and

More information

Presents at the Global Transportation Conference. Boston. May 15, 2013

Presents at the Global Transportation Conference. Boston. May 15, 2013 Presents at the Boston May 15, 2013 2013 Global Transportation Conference Caution Regarding Forward-looking Information Air Canada s public communications may include forward-looking statements within

More information

Export Subsidies in High-Tech Industries. December 1, 2016

Export Subsidies in High-Tech Industries. December 1, 2016 Export Subsidies in High-Tech Industries December 1, 2016 Subsidies to commercial aircraft In the large passenger aircraft market, there are two large firms: Boeing in the U.S. (which merged with McDonnell-Douglas

More information

WEBJETAGM Managing Director Update

WEBJETAGM Managing Director Update WEBJETAGM Managing Director Update 22 November 2017 Page 1 DIGITAL TRAVEL BUSINESS spanning both consumer markets (through B2C) and global wholesale markets (through B2B) WHO IS WEBJET? B2C TRAVEL Leading

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

Good afternoon Chairman Cantwell, Ranking Member Ayotte, and members of the

Good afternoon Chairman Cantwell, Ranking Member Ayotte, and members of the Testimony of Doug Parker, CEO of US Airways Senate Committee on Commerce, Science and Transportation Subcommittee on Aviation Operations, Safety and Security Hearing on Airline Industry Consolidation June

More information

ABX. Holdings, Inc. BB&T Transportation Conference. February 2008

ABX. Holdings, Inc. BB&T Transportation Conference. February 2008 ABX Holdings, Inc. BB&T Transportation Conference February 2008 1 Safe Harbor Statement Except for historical information contained herein, the matters discussed in this presentation contain forward-looking

More information

CONTACT: Investor Relations Corporate Communications

CONTACT: Investor Relations Corporate Communications NEWS RELEASE CONTACT: Investor Relations Corporate Communications 435.634.3200 435.634.3553 Investor.relations@skywest.com corporate.communications@skywest.com SkyWest, Inc. Announces Fourth Quarter 2017

More information

Forward-looking Statements

Forward-looking Statements March 23, 2011 Forward-looking Statements This presentation contains certain forward-looking statements with respect to the Corporation. These forward-looking statements, by their nature, necessarily involve

More information

2012 Result. Mika Vehviläinen CEO

2012 Result. Mika Vehviläinen CEO 2012 Result Mika Vehviläinen CEO 1 Agenda Market environment in Q4 Business performance and strategy execution Outlook Financials 2 Market Environment According to IATA, Global air travel continues to

More information

Qantas Airways Investor Briefing

Qantas Airways Investor Briefing Qantas Airways Investor Briefing May 24 2007 Introduction APA bid protracted and difficult Continuity and stability now essential Executive Management commitment Orderly Board renewal Page 1 Page 1 Introduction

More information

Information meeting. Jean-Cyril Spinetta Chairman and CEO

Information meeting. Jean-Cyril Spinetta Chairman and CEO Information meeting Jean-Cyril Spinetta Chairman and CEO Forward-looking statements The information herein contains forward-looking statements about Air France-KLM and its business. These forward-looking

More information

EASYJET INTERIM MANAGEMENT STATEMENT FOR THE QUARTER ENDED 31 DECEMBER 2010

EASYJET INTERIM MANAGEMENT STATEMENT FOR THE QUARTER ENDED 31 DECEMBER 2010 20 January 2011 easyjet Interim Management Statement Page 1 of 5 20 January 2011 EASYJET INTERIM MANAGEMENT STATEMENT FOR THE QUARTER ENDED 31 DECEMBER 2010 Highlights: Total revenue up by 7.5% to 654

More information

For personal use only

For personal use only Half Year Results Press Conference Remarks by Qantas CEO Alan Joyce 21 February 2013 Good morning. Thanks for joining us for the Qantas Group result for the six months ended 31 December 2012. The Group

More information

THE REAL-TIME AIRLINE TAKES FLIGHT

THE REAL-TIME AIRLINE TAKES FLIGHT THE REAL-TIME AIRLINE TAKES FLIGHT THE AIRLINE INDUSTRY HAS ALWAYS BEEN CHARACTERIZED BY HIGHLY CYCLICAL DEMAND AND LOW PROFITABILITY, STRONGLY INFLUENCED BY EXTERNAL FACTORS SUCH AS THE FUEL PRICE. In

More information

Michael Rousseau Executive Vice President & Chief Financial Officer

Michael Rousseau Executive Vice President & Chief Financial Officer at Presentation by Michael Rousseau Executive Vice President & Chief Financial Officer Montreal September 18, 2014 CAUTION REGARDING FORWARD-LOOKING INFORMATION Air Canada s public communications may

More information

QANTAS RESULTS FOR THE YEAR ENDED 30 JUNE 2000 HIGHLIGHTS. Net profit before tax of AUD$762.8 million, up AUD$100.3 million, 15 percent on last year

QANTAS RESULTS FOR THE YEAR ENDED 30 JUNE 2000 HIGHLIGHTS. Net profit before tax of AUD$762.8 million, up AUD$100.3 million, 15 percent on last year QANTAS RESULTS FOR THE YEAR ENDED 30 JUNE 2000 HIGHLIGHTS Net profit before tax of AUD$762.8 million, up AUD$100.3 million, 15 percent on last year Net profit after tax of AUD$517.9 million, up AUD$97

More information

WHEN CONSOLIDATION MAKES SENSE

WHEN CONSOLIDATION MAKES SENSE SO MANY CARRIERS, NOT ENOUGH PROFIT: European airlines need to achieve economies of scale that will let them invest in technology that will help them grow. WHEN CONSOLIDATION MAKES SENSE A few European

More information

Cowen Securities 6 th Annual Global Transportation Conference June 11, 2013

Cowen Securities 6 th Annual Global Transportation Conference June 11, 2013 Cowen Securities 6 th Annual Global Transportation Conference June 11, 2013 This presentation and the discussion today will include forward-looking statements regarding the performance of Alaska Air Group

More information

REGION OF WATERLOO INTERNATIONAL AIRPORT AIRPORT MASTER PLAN EXECUTIVE SUMMARY MARCH 2017

REGION OF WATERLOO INTERNATIONAL AIRPORT AIRPORT MASTER PLAN EXECUTIVE SUMMARY MARCH 2017 REGION OF WATERLOO INTERNATIONAL AIRPORT AIRPORT MASTER PLAN EXECUTIVE SUMMARY MARCH 2017 Contact: Chris Wood, Airport General Manager cwood@regionofwaterloo.ca (519) 648-2256 ext. 8502 Airport Master

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

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

Notes for a presentation by Jean-Marc Eustache President and Chief Executive Officer Transat A.T. Inc.

Notes for a presentation by Jean-Marc Eustache President and Chief Executive Officer Transat A.T. Inc. Notes for a presentation by Jean-Marc Eustache President and Chief Executive Officer Transat A.T. Inc. Annual Meeting of Shareholders Wednesday, March 15, 2006 Check against delivery The international

More information

QANTAS DELIVERS STRONG FIRST HALF RESULT DESPITE HIGHER FUEL BILL

QANTAS DELIVERS STRONG FIRST HALF RESULT DESPITE HIGHER FUEL BILL ASX and Media Release Sydney, 21 February 2019 QANTAS DELIVERS STRONG FIRST HALF RESULT DESPITE HIGHER FUEL BILL Underlying Profit Before Tax: $780 million (down $179 million) Statutory Profit Before Tax:

More information

Remarks for Mark Galardo Vice President, Network Planning, Air Canada Bombardier Media Day Montreal, January 14, 2019

Remarks for Mark Galardo Vice President, Network Planning, Air Canada Bombardier Media Day Montreal, January 14, 2019 Remarks for Mark Galardo Vice President, Network Planning, Air Canada Bombardier Media Day Montreal, January 14, 2019 Bonjour and good afternoon everyone. It is a pleasure to be here today. I certainly

More information

Beth Malmborg. ELC 310 Intro to E-Marketing. Prof. Tony Gauvin

Beth Malmborg. ELC 310 Intro to E-Marketing. Prof. Tony Gauvin Beth Malmborg ELC 310 Intro to E-Marketing Prof. Tony Gauvin 12/11/2005 Outline Company 1 History Overview Market 2 Challenges Response Primary Stakeholders 4 Value Bubble 4 Conclusion 6 References 7 American

More information

GECAS T A K E F L I G H T. September 29, 2017 Not to be copied, distributed, or reproduced without prior approval.

GECAS T A K E F L I G H T. September 29, 2017 Not to be copied, distributed, or reproduced without prior approval. GECAS T A K E F L I G H T September 29, 2017 Not to be copied, distributed, or reproduced without prior approval. GECAS 50 years of industry leading aviation services The longest track record of providing

More information

2012 Performance. ,ċ ĂĊ. %* * % (ƫ +/%0%+*ƫ,ċƫăă. Our profits (excluding special items) of $417 million grew 26 percent as compared to 2011.

2012 Performance. ,ċ ĂĊ. %* * % (ƫ +/%0%+*ƫ,ċƫăă. Our profits (excluding special items) of $417 million grew 26 percent as compared to 2011. 212 Southwest Airlines One Report // Performance // 212 Performance Our Business Select offering contributed $93 million in Passenger revenues in 212. 212 Performance!2!*1!/ƫ,ċƫăĀ Our profits (excluding

More information

SAS Q3 2017/ August 2018

SAS Q3 2017/ August 2018 SAS Q3 2017/2018 31 August 2018 Strong earnings in peak season POSITIVES Record number of passengers Total revenue up MSEK 936 vs. LY Currency adjusted yield up 1.1% vs. LY EB point sale up 27% vs. LY

More information

Building Long Term Shareholder Value

Building Long Term Shareholder Value Building Long Term Shareholder Value Gareth Evans, CFO Macquarie Conference 6 May 2011 Sustainable Returns to Shareholders Leverage dual brands to build on competitive advantage International business

More information

Leaps and Bounds. A Conversation With Pham Ngoc Minh, President and Chief Executive Officer, Vietnam Airlines, Pg 18.

Leaps and Bounds. A Conversation With Pham Ngoc Minh, President and Chief Executive Officer, Vietnam Airlines, Pg 18. A MAGAZINE FOR AIRLINE EXECUTIVES 2008 Issue No. 2 T a k i n g y o u r a i r l i n e t o n e w h e i g h t s Leaps and Bounds A Conversation With Pham Ngoc Minh, President and Chief Executive Officer,

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

OPERATING AND FINANCIAL HIGHLIGHTS. Subsequent Events

OPERATING AND FINANCIAL HIGHLIGHTS. Subsequent Events Copa Holdings Reports Net Income of US$113.1 Million and EPS of US$2.57 for the First Quarter of 2015 Excluding special items, adjusted net income came in at US$106.0 million, or EPS of US$2.41 per share

More information