We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Air FranceKLM | EU:AF | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.348 | 3.61% | 9.986 | 9.93 | 10.04 | 10.07 | 9.65 | 9.65 | 2,236,203 | 16:40:00 |
MIAMI—Etihad Airways Chief Executive James Hogan on Sunday played down concern of broadening opposition to the growth of Middle East airlines even as he warned that pricing in major markets was exceptionally weak.
It is "only a handful of people" challenging the growth of Etihad and its neighbors Emirates Airline and Qatar Airways, Mr. Hogan said in an interview.
U.S. carriers Delta Air Lines, United Airlines and American Airlines, along with their European allies Air France-KLM and Deutsche Lufthansa, are lobbying governments to stem the growth of the Persian Gulf airlines they accuse of benefiting from unfair competition. The Mideast carriers deny the charge.
"It is two airlines in Europe, and it is three airlines in the U.S.A. Does that represent the world of aviation?" Mr. Hogan said on the eve of the International Air Transport Association's annual meeting of most of the world's airline executives.
The U.S. departments of Transportation, Commerce and State have set up public forums to canvass views on the effect of the Mideast carriers on the U.S. aviation market. Mr. Hogan said most of those submissions backed keeping markets open.
Etihad last month submitted its response to the U.S. government. "We have certainly not in any way damaged the U.S. carriers," Mr. Hogan said, adding that he would focus on running the airline rather than dwell on the issue.
Mr. Hogan said there were challenges in some segments of the business. "What we are seeing this year, and it is probably due to capacity, we are seeing a level of discounting we have not seen in a long time," he said. Discounting, often seen in the weaker travel periods of the year, is now also occurring in some of the peak season, he said.
Europe, where austerity regimes are still curbing business-class travel, and America were hit particularly hard. While load factor, a measure of seats sold, remained strong, the prices are a challenge, he said.
Low oil prices also have weakened some premium traffic for the carrier as oil and gas companies have cut back some travel, Mr. Hogan said.
China and India, on the other hand, were growing strongly and the cargo business, which had shown signs of weakness, has rebounded, Mr. Hogan said.
Also still on Etihad's agenda is deepening ties with Air France despite the two airlines clashing in Europe over market access. Mr. Hogan said Etihad was continuing negotiations with Air France to deepen cooperation beyond code-sharing.
Mr. Hogan also said the Gulf carrier is ready to exit its almost 5% stake in Ireland's Aer Lingus PLC, which British Airways parent International Consolidated Airlines Group SA is trying to acquire. Aer Lingus will be in good hands at IAG, Mr. Hogan said, adding he expected the Mideast carrier to continue to cooperate with the Irish airline.
Write to Robert Wall at robert.wall@wsj.com
Access Investor Kit for Air France-KLM SA
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=FR0000031122
Access Investor Kit for Aer Lingus Group Plc
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=IE00B1CMPN86
Access Investor Kit for Air France-KLM SA
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US0091191082
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
1 Year Air FranceKLM Chart |
1 Month Air FranceKLM Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions