|Bid||678.60 x 123000|
|Ask||679.20 x 327100|
|Day's range||672.80 - 680.80|
|52-week range||569.00 - 773.19|
|PE ratio (TTM)||4.50|
|Earnings date||3 Aug 2018|
|Forward dividend & yield||0.26 (3.83%)|
|1y target est||8.17|
China Southern Airlines Co., one of the nation’s top three state carriers, is exploring a joint venture with British Airways for flights between the Asian country and the U.K., according to the company’s global sales director. Asia’s biggest carrier by fleet size is discussing with IAG SA’s BA on how to extend cooperation beyond the existing basic code-share agreement announced in December, Senior Vice-President Luo Laijin said in an interview Friday at London’s Heathrow Airport. The two are discussing special pro-rate agreements, flight connections from the U.K.’s capital to cities including Manchester, Edinburgh and Glasgow, as well as to some African cities.
Fast (Shanghai: 600391.SS - news) -growing budget airline Norwegian Air Shuttle (LSE: 0FGH.L - news) beat expectations with a second-quarter net profit on Thursday as it controlled costs better than expected at a time when its transatlantic expansion is peaking. Europe's third-largest budget airline by passenger numbers is trying to crack the transatlantic market by undercutting established rivals, but has faced pressures to control costs and shore up its balance sheet in the face of competition. The company posted a net profit of 300 million crowns ($37.07 million) in the second quarter, compared with a loss of 691 million crowns a year earlier.
Britain's aviation regulator has stepped up planning for a "no deal" disorderly Brexit, identifying how many new staff would be needed and preparing safety systems to take on work now carried out by European authorities. The Civil Aviation Authority had said in January it was purposely not planning for a scenario where it was excluded from Europe's safety body, "as it would be misleading to suggest that's a viable option". Prime Minister Theresa May said on Friday the government would step up preparations for the possibility of Britain leaving the European Union without reaching a deal with Brussels.
Britain's top share index climbed on Tuesday following a shaky start to the month, although mining giant Glencore fell after one of its subsidiaries received a U.S. subpoena. The blue-chip FTSE 100 index was up 0.6 percent at 7,593.29 points at its close, making back some of Monday's 1.2 percent loss when concerns over global trade hit risky assets. The mood was upbeat across the wider European equity trading landscape after German Chancellor Angela Merkel's conservatives settled a row over migration late on Monday evening that had threatened to topple her fragile governing coalition.
China said on Friday that the United States should tell its airlines to change their websites to refer to self-ruled Taiwan as Chinese territory, after the United States said China had rejected requests for talks on the matter. China has demanded that foreign firms, and airlines in particular, begin referring to Taiwan as Chinese territory on their websites, along with Hong Kong and Macau, a move described by the White House in May as "Orwellian nonsense".
British Airways-owner IAG (ICAG.L) is expanding its new airline Level into short-haul routes, setting up an Austrian division which will provide low-cost flights between Vienna and destinations in Europe. Most budget airlines are focused on short-haul routes, but Level was established last year to offer low-cost long-haul flights, joining a handful of other airlines in this market, including Norwegian (NWC.OL). Austria has become the new front line in the battle between low-cost carriers after the collapse last year of Austrian airline Niki, part of bankrupt Air Berlin.
British Airways-owner IAG is expanding its new airline Level into short-haul routes, setting up an Austrian division which will provide low-cost flights between Vienna and destinations in Europe. Most budget airlines are focused on short-haul routes, but Level was established last year to offer low-cost long-haul flights, joining a handful of other airlines in this market, including Norwegian. Austria has become the new front line in the battle between low-cost carriers after the collapse last year of Austrian airline Niki, part of bankrupt Air Berlin (LSE: 0GPE.L - news) .
British Airways-owner IAG is expanding its new Level airline into short-haul routes, setting up a new Austrian unit which will provide low-cost flights between Vienna and destinations in Europe. Level will start flying on July 17 with flights between Vienna and Palma, Majorca and London Gatwick.
0917 GMT - Whitbread’s 1.3% decline in 1Q like-for-like sales is broadly consistent with Shore Capital’s expectations as March sales must have been hit by bad weather, the brokerage says. Shore Capital forecasts pretax profit of GBP613 million for the fiscal year, after the company said it expects to deliver full-year results in line with expectations. Whitbread still faces cost and trading headwinds but its efficiency program offsets some of those issues, the brokerage says.
The chief executive of British Airways' parent company has called the £14bn cost to build Heathrow's third runway "perverse" and cast doubt on the airport's ability to deliver the project. Speaking to Sky News after MPs (BSE: MPSLTD.BO - news) overwhelmingly backed the expansion, International Airlines Group's Willie Walsh said: "I don't believe that Heathrow Airport can build this in an efficient manner and a cost-effective manner. The airport has a bizarre, perverse incentive to spend more money than it needs to because it gets remunerated based on the money they spend," Mr Walsh said, referring to the formula set by the Civil Aviation Authority.
London Heathrow airport’s 16 billion-pound ($21 billion) expansion plan may have cleared its last major political hurdle, but the project has yet to convince British Airways, the hub’s biggest customer. After U.K. lawmakers backed the construction of a third runway by 415 votes to 119 late Monday, BA owner IAG SA responded by saying that the financing arrangements proposed by Heathrow are likely to increase user charges and effectively require present-day passengers to fund future flights. “Parliament has approved Heathrow’s expansion without any idea of how much it will cost,” IAG Chief Executive Officer Willie Walsh said in a statement.
British lawmakers will vote on whether to build a new runway at London's Heathrow Airport on Monday, potentially paving the way for the airport's expansion after decades of delays and policy U-turns. The government is expected to win the vote, although the result could be close as the issue has split lawmakers regardless of their party lines, with some opposed to the extra noise and air pollution it will bring to London. Heathrow is Europe's busiest airport and operating at full capacity.
Prime Minister Theresa May believes that expanding London's Heathrow airport sends a message about Britain's global ambitions, her spokesman said on Monday before a vote in parliament on an expansion plan. "The PM has set out on a number of occasions why she believes that expanding Heathrow is the right decision for Britain and that she believes it sends out an important message about global Britain and making the most of the opportunities which lie ahead of us," the spokesman told reporters.
Lufthansa (Xetra: LHAB.DE - news) 's budget carrier Eurowings expects the transfer of planes from collapsed rival Air Berlin (LSE: 0GPE.L - news) planes into its fleet to be completed by the end of July, it said on Friday. Eurowings has come under fire in Germany recently for delays and cancellations, partly caused by its rapid expansion as it tries to move into the gap left by Air Berlin. "Thanks to the successive introduction of further planes, we again expect a reliable flight operation," Eurowings CEO Thorsten Dirks wrote in a message to customers.
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The number of European flights delayed by up to 2 hours is set to increase seven-fold by 2040 due to greater travel demand and a lack of capacity on the ground and in the air to keep up with the growth, European network manager Eurocontrol said. Eurocontrol, which manages Europe's air traffic network, said in a report on Tuesday that flights in its region are due to increase 53 percent by 2040, but that airport capacity is set to rise by only 16 percent. It predicts that by 2040, around 470,000 passengers per day will be delayed by up to 2 hours, compared with around 50,000 passengers today.
* Norwegian shares traded down on Tuesday * Oslo's benchmark index fell 0.30 pct, or 2.65 points, to 886.02 points and was up by 9.11 pct year-to-date * The broader Oslo All Share Index was down 0.32 percent ...
Norwegian Air Shuttle (LSE: 0FGH.L - news) is reaching a size at which it can be profitable, its founder and CEO said on Tuesday, while reiterating that he will not block a sale of the budget carrier if other shareholders want out. Both British Airways owner IAG and Lufthansa have been in contact with Norwegian over a possible deal. After the failures of Air Berlin (LSE: 0GPE.L - news) and Monarch last year, airline executives have predicted more consolidation this year in Europe.
BERLIN/OSLO, June 18 (Reuters) - Lufthansa (Xetra: LHAB.DE - news) is in contact with Norwegian Air Shuttle (LSE: 0FGH.L - news) , which is also the subject of bid interest from British Airways owner IAG, as the German airline looks to get involved in an expected wave of deals in the sector, its CEO told a newspaper. Shares (Berlin: DI6.BE - news) in Norwegian Air jumped more than 10 percent on Monday following the comments by Lufthansa boss Carsten Spohr to Germany's Sueddeutsche Zeitung.
Carsten Spohr told the German newspaper Suddeutsche Zeitung that there was "a new wave of consolidation approaching", adding that Lufthansa was "in contact with Norwegian". Lufthansa's interest in Norwegian Air comes months after IAG, the owner of British Airways, bought a 4.6% stake in the Nordic carrier . Norwegian Air's rapid expansion, with flights costing as little as £99 from Edinburgh and Dublin to New York, has attracted the attention of several suitors.
Carsten Spohr told the German newspaper Suddeutsche Zeitung: "In Europe, everyone is talking to everyone. The airline's rapid expansion with flights costing as little as £99 from Edinburgh and Dublin to New York has attracted the attention of several suitors. IAG, the owner of British Airways, bought a 4.6% stake in the Nordic carrier in April .
* Norwegian shares traded down on Monday * Oslo's benchmark index fell -0.81 pct, or -7.24 points, to 888.16 points and was up by 9.94 pct year-to-date * The broader Oslo All Share Index was down 0.74 ...
BT Group plc (LON: BT-A) and International Consolidated Airlines Grp SA (LON: IAG) are two of the cheapest shares on the FTSE 100 (INDEXFTSE: UKX), says Harvey Jones.
Budget carrier Norwegian Air's fleet of aircraft could soon begin to grow more slowly than investors have anticipated, Chief Financial Officer Geir Karlsen said on Thursday. Sales of older planes as well ...
British Airways-owner IAG will not become involved in any bidding war for Norwegian Air Shuttle (LSE: 0FGH.L - news) , the group's chief executive told shareholders at its annual meeting on Thursday, adding it was not a must-do deal. Norwegian said in May that it had rejected two approaches from IAG, the owner of British Airways, Iberia, Aer Lingus and Vueling, because they undervalued the company. "We remain open-minded about Norwegian – this is not a deal that we have to do and we will certainly not get involved in a bidding war," IAG's CEO Willie Walsh told the group's meeting which was held in Madrid.