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ConnexionGrandeur et faiblesses des compagnies US
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Concurrence et Consolidations aux US
par CarrK Lun 06 Juil 2009, 09:34
Après Republic Airways Holdings, avec Frontier et Midwest
SkyWest Inc, Utah, ( SkyWest : OO : SKW. et Atlantic Southeast Airlines : EV : ASQ ) et Mesa Air Group cherchent les moyens de rester dans la course. En cherchant de nouveaux contrats de codshare notament.
Source Airline Business :
Consolidation and continued network pruning at US major carriers is likely to spur fierce competition during the next five years as all their regional partners scurry to gain existing market share as organic growth has evaporated.
Mesa chief executive Jonathan Ornstein recently told employees the US regional industry “is looking to reshape itself”, as evidenced by Republic Airways Holdings recently-announced plans to purchase Frontier and Midwest Airlines.
Ornstein warns that “going forward the trouble our partners are dealing with will impact us over time”.
Recognizing that further mainline consolidation in the US is likely to occur, Republic chief executive officer Bryan Bedford recently said revenue streams for regional carriers serving those carriers are likely to shrink, creating robust competition for contracts that expire within during the next five years.
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Management at SkyWest Inc has already started preparing for the competition to steal market share away from its competitors. Company chairman and chief executive Jerry Atkin recently said the company is talking to every major carrier in the industry regarding additional codeshare opportunities.
Parallel to those discussions SkyWest is launching an internal cost reduction plan to effectively compete and win business away from its competitors.
Similar to Republic in some fashions, SkyWest is attempting to build revenue diversity outside the traditional regional airline mode through an investment in Brazilian regional carrier TRIP. SkyWest recently upped its stake to 16%, and TRIP management expects its US stakeholder to increase its investment to 20% by February.
But not every regional carrier has the financial strength of Republic or SkyWest. Recently asked if consolidation is likely in the US regional sector SkyWest chairman Atkin admits fewer participants will remain five years from now, but that is more likely to occur through carriers shrinking and failing rather than traditional merger and acquisition activity.
The near-term pressure on regionals is likely to continue as Ornstein says yields at mainline carriers remain extremely weak, and “it is almost impossible to raise equity”.
He believes that heading into the autumn mainline carriers need to see a rebound in business traffic to see an improvement in their economic outlook.
SkyWest Inc, Utah, ( SkyWest : OO : SKW. et Atlantic Southeast Airlines : EV : ASQ ) et Mesa Air Group cherchent les moyens de rester dans la course. En cherchant de nouveaux contrats de codshare notament.
Source Airline Business :
Consolidation and continued network pruning at US major carriers is likely to spur fierce competition during the next five years as all their regional partners scurry to gain existing market share as organic growth has evaporated.
Mesa chief executive Jonathan Ornstein recently told employees the US regional industry “is looking to reshape itself”, as evidenced by Republic Airways Holdings recently-announced plans to purchase Frontier and Midwest Airlines.
Ornstein warns that “going forward the trouble our partners are dealing with will impact us over time”.
Recognizing that further mainline consolidation in the US is likely to occur, Republic chief executive officer Bryan Bedford recently said revenue streams for regional carriers serving those carriers are likely to shrink, creating robust competition for contracts that expire within during the next five years.
[Vous devez être inscrit et connecté pour voir cette image]
Management at SkyWest Inc has already started preparing for the competition to steal market share away from its competitors. Company chairman and chief executive Jerry Atkin recently said the company is talking to every major carrier in the industry regarding additional codeshare opportunities.
Parallel to those discussions SkyWest is launching an internal cost reduction plan to effectively compete and win business away from its competitors.
Similar to Republic in some fashions, SkyWest is attempting to build revenue diversity outside the traditional regional airline mode through an investment in Brazilian regional carrier TRIP. SkyWest recently upped its stake to 16%, and TRIP management expects its US stakeholder to increase its investment to 20% by February.
But not every regional carrier has the financial strength of Republic or SkyWest. Recently asked if consolidation is likely in the US regional sector SkyWest chairman Atkin admits fewer participants will remain five years from now, but that is more likely to occur through carriers shrinking and failing rather than traditional merger and acquisition activity.
The near-term pressure on regionals is likely to continue as Ornstein says yields at mainline carriers remain extremely weak, and “it is almost impossible to raise equity”.
He believes that heading into the autumn mainline carriers need to see a rebound in business traffic to see an improvement in their economic outlook.
CarrK- CLUB
- Messages : 761
Localisation : Paris
Grandeur et faiblesses des compagnies US
par CHEYENNE Ven 11 Sep 2009, 08:57
Malgré tous les résultats assez mauvais du transport aérien US, hormis quelques exceptions notables chez les LCC
Des analystes croient au rétablissement du secteur dans la région...
Il n'a pas forcément raison, à quel prix se ferait, se fera le redressement, souhaitable ? Mais son optimisme se démarque de l'ambiance générale.
Sur Airwise :
US airlines are gaining support from analysts amid more competitive pricing and evidence the global economy is on a
recovery path.
"We have over the past month or two seen sequential improvement in trends on the pricing side of the airline business, indicating that demand is coming back to a small extent," Majestic Research analyst Matthew Jacob said.
The new trends offer a glimmer of hope for investors who have seen carriers' stocks crash this year with all of the liquidity fears and the talk of an airline bankruptcy. Now experts say these shares are poised for a short-term rebound as trends improve.
"July industry results, combined with recent August revenue disclosures, point to some evidence that a recovery in airline revenue has begun," Barclays Capital analyst Gary Chase said in a note Wednesday.
The Arca Airline Index was up 7 percent on Thursday after J.P. Morgan analyst Jamie Baker, a noted industry bear, said the sector "is on the verge of turning a financial corner" and suggested investors boost their airline equity holdings.
"Assuming stable demand and fuel, we now expect winter to pass with nary a bankruptcy in sight," he said in a note.
Baker upgraded stock of United Airlines parent UAL and US Airways Group.
J.P. Morgan's move spurred call interest in airlines among options traders.
Investors often use equity call options, which grant them the right to buy shares at a fixed price within a specified time period, to speculate on a potential rise in stock prices.
"We are seeing heavy call volume across the airline sector with some investors buying call options in anticipation of further strength in the group in the short term," said Frederic Ruffy, an option strategist at WhatsTrading.
Most major US airlines in the past week posted declining passenger traffic for August, but load factors were mostly higher, aided by capacity cuts. In its latest monthly traffic report, US Airways said better booking trends seemed to be continuing into September.
But airlines are not yet out of the woods, analysts said. J.P. Morgan's Baker noted that fuel prices could easily prove to be a disruptive factor, while Barclays Capital's Chase said a resurgence of the H1N1 flu could be another issue.
Jacob, the Majestic Research analyst, said leisure travelers have responded to discounted air fares and lower hotel room rates, helping airlines as business travel slowed.
"That peak traditional summer travel season has come to a close and the question for us is will this be a kind of a sustained recovery now that the airlines and the travel industry will probably have to rely a little bit more on business travel also coming back," Jacob said.
There may already be signs of an uptick in business traffic, said Helane Becker, a Jesup & Lamont Securities analyst.
"As the airlines have reported traffic in the past week and a half, we've seen an improvement in our close-end bookings," Becker said. "That's a good positive event because it implies that you're going to see some business traffic come back."
US airlines' shares rose strongly on Thursday, with UAL and US Airways gaining 20 percent and 13 percent
respectively, in wake of the J.P. Morgan rating upgrades.
Shares of Delta Air Lines were up 10 percent and AMR and Continental Airlines were both some 8 percent higher. Southwest Airlines rose 3 percent.
(Reuters)
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Des analystes croient au rétablissement du secteur dans la région...
Il n'a pas forcément raison, à quel prix se ferait, se fera le redressement, souhaitable ? Mais son optimisme se démarque de l'ambiance générale.
Sur Airwise :
US airlines are gaining support from analysts amid more competitive pricing and evidence the global economy is on a
recovery path.
"We have over the past month or two seen sequential improvement in trends on the pricing side of the airline business, indicating that demand is coming back to a small extent," Majestic Research analyst Matthew Jacob said.
The new trends offer a glimmer of hope for investors who have seen carriers' stocks crash this year with all of the liquidity fears and the talk of an airline bankruptcy. Now experts say these shares are poised for a short-term rebound as trends improve.
"July industry results, combined with recent August revenue disclosures, point to some evidence that a recovery in airline revenue has begun," Barclays Capital analyst Gary Chase said in a note Wednesday.
The Arca Airline Index was up 7 percent on Thursday after J.P. Morgan analyst Jamie Baker, a noted industry bear, said the sector "is on the verge of turning a financial corner" and suggested investors boost their airline equity holdings.
"Assuming stable demand and fuel, we now expect winter to pass with nary a bankruptcy in sight," he said in a note.
Baker upgraded stock of United Airlines parent UAL and US Airways Group.
J.P. Morgan's move spurred call interest in airlines among options traders.
Investors often use equity call options, which grant them the right to buy shares at a fixed price within a specified time period, to speculate on a potential rise in stock prices.
"We are seeing heavy call volume across the airline sector with some investors buying call options in anticipation of further strength in the group in the short term," said Frederic Ruffy, an option strategist at WhatsTrading.
Most major US airlines in the past week posted declining passenger traffic for August, but load factors were mostly higher, aided by capacity cuts. In its latest monthly traffic report, US Airways said better booking trends seemed to be continuing into September.
But airlines are not yet out of the woods, analysts said. J.P. Morgan's Baker noted that fuel prices could easily prove to be a disruptive factor, while Barclays Capital's Chase said a resurgence of the H1N1 flu could be another issue.
Jacob, the Majestic Research analyst, said leisure travelers have responded to discounted air fares and lower hotel room rates, helping airlines as business travel slowed.
"That peak traditional summer travel season has come to a close and the question for us is will this be a kind of a sustained recovery now that the airlines and the travel industry will probably have to rely a little bit more on business travel also coming back," Jacob said.
There may already be signs of an uptick in business traffic, said Helane Becker, a Jesup & Lamont Securities analyst.
"As the airlines have reported traffic in the past week and a half, we've seen an improvement in our close-end bookings," Becker said. "That's a good positive event because it implies that you're going to see some business traffic come back."
US airlines' shares rose strongly on Thursday, with UAL and US Airways gaining 20 percent and 13 percent
respectively, in wake of the J.P. Morgan rating upgrades.
Shares of Delta Air Lines were up 10 percent and AMR and Continental Airlines were both some 8 percent higher. Southwest Airlines rose 3 percent.
(Reuters)
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CHEYENNE- CLUB
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Localisation : Europe
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