European Business Jets Share Discussion Threads

[lbo] 10/6/2007 11:54

TRANSPORT

• European Business Jets, a British company that sells part ownership in small airplanes, has rejected "half a dozen" takeover approaches.

[nigthepig] 04/6/2007 21:49

LBO - I hope Rooney knows he's on a winner here.
If it works out well for him then we will be alright as well.
Those halcyon days of flotation seem a million years ago.
I'm still keeping my fingers crossed though and am only down a couple of percent so it wont take much of a push to get me in profit.

[lbo] 04/6/2007 16:32

Looks like I was correct. Hopefully he has enough money to plug the losses

European Business Jets says shareholder Rooney further lifts stake to 12.52 pct

LONDON (Thomson Financial) - AIM-listed private jet operator European
Business Jets PLC said shareholder P A Rooney further lifted his total stake in
the company to 27.75 mln shares giving him 12.52 pct of the total voting rights.
In a statement, the company said Rooney bought 2.5 mln shares at 0.0173 stg
per share and 2.0 mln shares at 0.0165 stg each on May 31

[lbo] 31/5/2007 14:34

Noel Hayes selling and Mr Rooney buying them perhaps. Not sure they are all sells.

[alangormley1] 31/5/2007 11:18

Any particular reasons for the big sells today??

[lbo] 30/5/2007 12:32

Business jets boom as rich clients dodge airport queues
May 23, 2007

Geneva - The private jet market is booming as ever richer business clients seek to avoid growing airport security and meet the demand for greater global mobility.

This was the background to this year's European Business Aviation Convention & Exhibition, which opened in Geneva yesterday.

After a marked recovery in 2005, the sector reached record levels last year with deliveries of 885 business jets worth between $10 million (about R70 million) and $25 million each, an increase of 18 percent over a year, according to industry data.

Forecasts suggest that this trend is set to continue, with the European market growing swiftly in the wake of the US, which represents 70 percent of the sector.

The European Business Aviation Association says the European fleet of business jets has grown from about 2 000 at the end of the 1990s to more than 2 850 today.

Civil aviation authorities in France say that by 2011, Europe should account for 16 percent of the world market, compared with 10 percent now, and grow to a 4 000-strong fleet.

Economic growth, increasingly globalised business, a growing number of wealthy individual clients and security constraints or bottlenecks in major airports have all been mentioned as reasons for the boom.

The head of French-based Dassault Falcon Jets, Jean Rosenvallon, said Europe accounted for about 40 percent of demand for its latest luxury long-range 7X jet. The US accounted for less. - AFP

[lbo] 22/5/2007 16:35

JetBird targets Stansted base
By Kevin Done,Aerospace Correspondent

May 21st The Financial Times

JetBird, the Dublin group aiming to be the first pan-European low-cost operator of executive jets, is negotiating to locate its first operating bases at London Stansted and Cologne/Bonn.

The group, founded by Dómhnal Slattery, the Irish entrepreneur and financier, is expected to announce today that it has recruited its first chief executive in Stefan Vilner, chief commercial officer of Sterling Airlines, the Scandinavian low-cost carrier.

The appointment is the latest indication of JetBird's intent to transform the European private jet market by introducing a much lower cost air taxi service. It aims to lead its operations from several hubs across Europe to a network of about 75 airports. It plans later hubs in France, Italy and Switzerland as it seeks to bring lessons from the operating models of low-cost airlines such as Ryanair and EasyJet to the private jet market.

Mr Slattery, formerly managing director of the structured asset finance business of Royal Bank of Scotland, believes he will be able to offer traditional private jet premium service at a much lower price, comparable to business class travel and costing less than 50 per cent of existing branded private jet services.

Several start-up operators in the US and Europe are seeking to exploit the cheaper very light jets (VLJs) coming on to the market from aircraft makers including Embraer, of Brazil, and Cessna and Eclipse, of the US.

According to Cessna, the economic model for private jet travel is changing because of the much reduced costs offered by such aircraft. Advances in small jet engines and avionics and higher volume production rates are lowering the costs of both aircraft acquisition and operation.

London Executive Aviation, one of the leading UK private jet charter operators, has placed the largest European order for the Cessna Mustang.

Patrick Margetson-Rushmore, LEA chief executive, said the group expected to be able to cut the entry price of jet chartering by up to25 per cent via the use of the new class of VLJs, which would "increase the cross over of jet chartering from business use to leisure".

Air Partner, the world's leading air charter broker, will announce today that it is increasing its investment in the booming business jet sector in London, through the development of a "high security private jet enclave" with hangars and maintenance facilities at Biggin Hill airport, 14 miles south of the City of London.

David Savile, chief executive of Air Partner, said that Biggin Hill was London's last remaining non-slot regulated airport and was much closer to the financial centre than the rival business aviation airport in Farnborough, Hampshire.

[lbo] 21/5/2007 09:07

They look to be expanding and have an Citation XLS on the books now. All sounds very expensive.

[boilerboy] 30/4/2007 14:55

LEG looking good. Looks like news due of rto.

[lbo] 21/4/2007 08:57

Fri, Apr. 20, 2007


Textron shares rise, thanks to Cessna

Textron Inc. shares rose 5 percent after the world's biggest maker of business jets said first-quarter profit beat analysts' estimates on higher demand for Wichita-based Cessna aircraft.

The shares rose $4.80 to $100.57 on the New York Stock Exchange, the biggest increase since January 2006.

Profit from continuing operations climbed 25 percent to $198 million, or $1.55 a share, from $158 million, or $1.19 a share, a year earlier, Textron said. Revenue gained 13 percent to $3 billion. The company was expected to earn $1.26 a share, the average estimate of eight analysts surveyed by Bloomberg.

"This is one of the most broad-based beats we have seen at Textron in years," Credit Suisse analyst Nicole Parent wrote in a report. "Operating profit beat our forecast by a whopping $57 million with nearly 50 percent of the upside coming from Cessna. Investors will be quite happy with these results."

Rising corporate profits are driving demand for Cessna jets, prompting the company to book more orders than it can fulfill. Textron's backlog in the first quarter rose to $11.9 billion from $11.6 billion in the previous three months.

For the second quarter, profit will be $1.35 to $1.45 a share, the Rhode Island-based company said. Textron boosted its 2007 forecast by 20 cents a share from $6.10 to $6.30, according to the statement.

Cessna, Textron's biggest unit, ended the quarter with 122 new orders for its Citation business jet aircraft, a "significant" amount coming from customers outside the U.S., Lewis Campbell, Textron's chief executive, said on a conference call. The company delivered 67 Citations last quarter and plans to deliver 375 this year, 22 percent more than 2006. The unit's order backlog stands at $9 billion.

First-quarter profit rose 32 percent to $177 million at Cessna on an 11 percent revenue increase to $968 million.

[lbo] 16/4/2007 08:17

From The Sunday Times April 15, 2007

Bigger toys for the bonus boys
City high flyers are spending like there's no tomorrow, write Dominic Rushe and Louise Armitstead

[don muang] 15/4/2007 19:47

applies to the US, but interesting wire report ....

Ticket taxes fund corporate jets

[vuelands] 13/4/2007 18:13

Has the big buyer returned, there can be no other explaination for this rise, the chart shows overbought. If this is consolidation then there is more upside potential.

[lbo] 05/4/2007 15:53

NetJets' fortunes take a positive turn in 2006
By Gordon Gilbert

April 01, 2007
Fractional


A "much improved situation is emerging at NetJets," according to Warren Buffett, chairman of parent company Berkshire Hathaway. In his annual letter to stockholders, published February 28, Buffett said NetJets has "never had a problem growing. But profits had been erratic."

NetJets' move into Europe, which began in 1996, was "particularly expensive." After five years of operation there, "We had acquired only 80 customers. And by mid-year 2006, our cumulative pretax loss had risen to $212 million." Buffett's letter reported that the company's fortunes have been turned around, largely thanks to a dramatic increase in sales; European demand "has now exploded," with a net of 589 customers added in 2005 and 2006, bringing the number of European customers to more than 1,300.

The letter reported that last year NetJets Europe achieved an undisclosed net profit for the first time since the program's launch, and a year ahead of schedule, according to NetJets Europe CEO and chairman Mark Booth. Buffett continued, "Under Mark Booth's brilliant leadership, NetJets is now operating profitably in Europe, and we expect the positive trend to continue."

The European operation currently employs around 670 flight crew and operates 114 aircraft. This year it intends to add another 24 aircraft, including the first
of 24 Dassault Falcon 7Xs ordered last year.

'He's Absolutely Tireless'
NetJets' U.S. operation also had a good year, with the company generating earnings of $143 million compared with a loss of $80 million in 2005, primarily because of the need to charter to meet "unusually high owner demand." Buffett said NetJets last year "added aircraft to the core fleet and developed strategies to address capacity issues and restore profitability."

Buffett credits Richard Santulli, along with Booth, for this turnaround. "Rich, like many of our managers, has no financial need to work. But you'd never know it. He's absolutely tireless–monitoring operations, making sales and traveling the globe to constantly widen the already enormous lead that NetJets enjoys over its competitors. Today, the value of the fleet we manage is far greater than that managed by our three largest competitors combined."

[lbo] 05/4/2007 13:58

City bonuses fuel private jets
By Emma Thelwell


First Class travel is no longer good enough for the City's high-fliers.

Air Partner, the plane charter group, has enjoyed a jump in profits as wealthy individuals fed up with the hassles of mass air travel increasingly hire and buy private jets.

Pre-tax profits at the company, which counts the Royal Family as a client, more than doubled to £3.5m in the six months to January 31.

Chief executive David Savile said: "There's been plenty of evidence that the increasing sales of private jets in the City's Square Mile over the last four months have not been freak occurances."

The group's most recent sale was completed within 36 hours and set the buyer back by $11m, while hiring an 8-seat private jet for weekend break in Europe costs around £15,000.

Sales at Air Partner's private jet business, which expanded through the acquisition of Gold Air in October 2006, grew 47pc, while revenue at the commerical jets business was up 52pc.

Mr Savile said: "The biggest potential lies in our private jet business. The group's jet-for-leisure and high net worth offerings are gaining market share. People are exasperated by commercial airlines."

Air Partner, which has 21 offices, has recently opened bases in Palma, Milan and San Francisco.

The numbers were welcomed by investors, with Air Partner's shares ending yesterday up 7.2pc at £10.10.

The company plans an interim dividend of 6.7p, to be paid to shareholders on 18 May

[smelgy] 04/4/2007 11:51

.......74graham - tend to agree. Just sold my 100k at 1.6p

[74graham] 04/4/2007 11:47

dont say you were not warned

[jfinvestor] 02/4/2007 23:46

Obviously EBJ is at an early stage of development and fundraisings shouldn't be ruled out etc. etc. However, there are two main reasons why I don't think it will happen in the near term:
1. In the interim results statement, management refers to the business as being "broadly cash flow neutral"
2. Since the interim results trading has continued to pick up in line with the company's business plan. Note, one of the benefits of the card sale scheme is that it is hugely working capital positive; you pay for the card now but the hours are only booked to the P&L when used.

[smelgy] 02/4/2007 11:18

.........there speaketh the voice of wisdom.

[74graham] 02/4/2007 10:31

im out guys its going to take a heavy fall to-day

[lbo] 02/4/2007 07:56

Nice picture of their CJ1





NetJets sees its fortunes soaring up, up and away. But will EBJ?