Transportation Industry

Airline Finance News - Europe

AirGuide Business, July 7, 2008

Ryanair

Ryanair said on Friday that it carried 5.17 million passengers in June or 19 percent more than a year earlier thanks to its growing route network but the average flight was not quite as full. Europe's biggest low-cost airline said its load factor was 84 percent in the month, down from 85 percent in June 2008. 7/4/2008

Ryanair, Aer Lingus

Ryanair said on Wednesday it raised its stake in fellow Irish airline Aer Lingus to 29.82 percent. Ryanair, Europe's biggest low-cost airline, said in a statement it bought an additional 3.5 million shares in Aer Lingus, bringing its total holdings in Ireland's former flag carrier to 159,231,025 shares worth EUR175,000 ($275,919), lifting its stake in the airline to 29.82%. Ryanair, which launched a hostile but failed takeover bid for Aer Lingus in 2008, said it had bought the shares on Wednesday but did not say how much it had paid for them. Shares in Aer Lingus closed down 16 percent at 1.15 euros in Dublin, while Ryanair ended 4.7 percent lower at 2.61 euros. Ryanair's Nasdaq-listed stock was down 8 percent at USD$26.81. 7/3/2008

S7 Airlines

S7 Airlines announced the issuance of RUB2.3 billion ($98.2 million) in debentures scheduled to mature five years from the date of issue. Alpha Bank is lead manager. S7 said the issue is designed to "refinance the debt portfolio." 7/1/2008

Sterling Airlines

Sterling Airlines no longer will staff bases permanently at Aalborg, Billund, Malmo and Gothenburg Landvetter from Jan. 1 and will focus on its operations at Copenhagen, Stockholm Arlanda and Oslo Gardermoen, the LCC announced yesterday. "Both the management and the unions of Sterling Airlines are working together to avoid dismissals," it said, claiming the decision was made "in order to concentrate its efforts and make the company more efficient." Affected employees who do not accept a voluntary redundancy package will be relocated to the three remaining bases, although Sterling will continue to fly to the airports. 7/1/2008

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