Tag Archives: 40 Years of Malaysian Hospitality 1972 2012

Aer Lingus reports a first half loss after a second quarter profit as it moves towards acceptance of the IAG takeover

Aer Lingus (Dublin) reported a first half loss of €13.9 million ($15.2 million), an increase from a loss of €9.9 million ($10.8) in the same period a year ago.

However the flag carrier produced a profit of €34.5 million ($37.8 million) for the second quarter of this year as the takeover by Willie Walsh’s IAG nears.

The airline issued this financial report for the first half in which it discussed the upcoming IAG takeover:

Aer Lingus Group plc announces its results for the three and six month periods ended June 30, 2015:

Second Quarter 2015 highlights:

  • Operating profit (before net exceptional items) of €34.5 million; estimated adverse currency movement of €21 million
  • Strong revenue growth of 7.1% with increases in passenger, retail and cargo revenues
  • Long haul revenue increase of 24.4% with capacity up 9.7% and revenue per seat up 14.4%
  • Successful Washington route launch, frequency additions and new business cabin introduction
  • Short haul load factor improvement delivered by a volume active strategy
  • Solid short haul forward booking profile achieved, facilitating 5.8% retail growth in Q2 and increased H2 short haul capacity expansion
  • Network growth, positive forward booking profile and lower unit fuel costs will support H2 2015 performance

    Stephen Kavanagh Aer Lingus’ CEO commented:

    “I am pleased to report a profitable second quarter with Aer Lingus well positioned to deliver an improved operating performance in the key Q3 trading period and for the full year. I would like to thank my colleagues for their contribution to the delivery of this performance and for their on-going endeavours.

    Passenger, retail and cargo revenues all grew strongly in the quarter. The continued investment in our transatlantic business was rewarded with strong growth in unit revenues. The volume active strategy employed in our short haul business delivered stable unit revenue performance in an intensely competitive marketplace.

    The adverse effects of unfavourable FX movements on performance which were evident in this quarter will moderate in the second half of the year as a result of a higher proportion of US$ denominated revenues. Both short and long haul capacity are set to expand into the peak season and we are very satisfied with forward yield and load factor profiles at this time.

    Finally, I would like to reiterate the view of the independent directors of Aer Lingus that the combination with IAG will strengthen Aer Lingus and will grow our airline and contribute to growth in the tourism sector and wider Irish economy.”

Full year 2015 outlook

Aer Lingus is currently in an offer period as defined by the Irish Takeover Rules. The Group is therefore not issuing specific guidance with regard to 2015 operating profit performance while it remains in this offer period.

Update on Offer from International Consolidated Airline Group S.A (“IAG”)

On June 19, 2015 IAG issued the Offer Document containing the full terms and conditions of the recommended cash offer (the “Offer”) by AERL Holding Limited (“AERL Holding”), a wholly-owned subsidiary of IAG, for the entire issued and to be issued ordinary share capital of Aer Lingus. The Offer values each Aer Lingus share at €2.55, of which €0.05 was paid as a dividend on May 29, 2015 (“the Offer”). The Offer conditions include, amongst other things, approval from the European Commission (“EC”) under the EU Merger Regulation, acceptance of the Offer by Ryanair Limited and the Minister for Finance of Ireland, shareholders approving the connectivity resolutions and a 90% acceptance condition. Full details of the Offer conditions are set out in Appendix I of the Offer Document posted to Aer Lingus shareholders. The following conditions have been fulfilled to date:

  1. On July 14, 2015 the proposed merger received competition approval from the EC under the EU Merger Regulation, following the EC’s initial Phase I review period. IAG offered the following remedies to the EC as part of the regulatory process:
  • Five daily slot pairs to be made available to other airlines at London Gatwick for flights between the airport and Dublin or Belfast.
  • Specifically, two of the five daily frequencies must be operated between Gatwick and Dublin.
  • One daily frequency must be operated between Gatwick and Belfast.
  • The other two frequencies can be operated between Gatwick and either Dublin or Belfast.
  • Other airlines can apply for seats on Aer Lingus’ short haul network for their transfer passengers, on normal commercial terms July 2015 Aer Lingus held an Extraordinary General Meeting (“EGM”) and successfully passed the resolutions in relation to the

2. On July 16, 2015 Aer Lingus held an extraordinary general meeting (EGM) and successfully passed the resolutions in relation to the connectivity commitments and received Rule 16 approval from the independent shareholders.

3. On this date IAG also confirmed the extension of the Offer until 1 pm (Irish time) on July 30, 2015.

4. On July 17, 2015 IAG confirmed the receipt of the valid acceptance of its Offer by the Minister for Finance of Ireland. The Minister for Finance’s acceptance was a condition of the Offer. At this date, IAG also announced that on July 16, 2015, AERL Holding had received valid acceptances of the Offer for 269,902,009 Aer Lingus shares, representing 50.53 per cent of the existing issued share capital of Aer Lingus, which AERL Holding may count towards the satisfaction of the acceptance condition to the Offer.

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Copyright Photo: SM Fitzwilliams Collection/AirlinersGallery.com. Aer Lingus, under an IAG takeover, is confident it can compete against an aggressive Ryanair. Airbus A320-214 EI-EDS (msn 3755) departs from the Dublin hub.

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Malaysia Airlines celebrates 40 years of flying with a new retrojet

Malaysia Airlines (Kuala Lumpur) yesterday (December 12) revealed one of its aircraft with the original livery it featured on October 1, 1972, to commemorate its 40 years of Malaysian Hospitality delivery to air travellers. The Malaysia Airlines’ Boeing 737-800 was re-painted in full colors of the first ever aircraft that took to the skies four decades ago.

The original livery has the logo featuring the Kelantan wau bulan or moon kite in a red circle, representing controlled flight and also a fine expression of the many mythologies associated with Malaysia.  To complement the logo then, the national carrier sported the colors of the Jalur Gemilang on the aircraft, where red, the dominant color was used for the two stripes across the body as in the flag. Blue was used for the words of the airline’s name with white for the background. The stylized kite, the dominant theme, was fast recognized round the world  for achieving the dual impression of movement and modernity and most importantly identifying the Malaysian flag carrier to travellers around the world.

Named the ‘Retro Livery’, the aircraft was revealed at a special function at KL International Airport (KLIA) today graced by Malaysia Airlines, Chairman, Tan Sri Md Nor Yusof and Malaysia Airlines, Group CEO Encik Ahmad Jauhari Yayha as well as some distinguished guests from the aviation industry and a good number of Malaysia Airlines’ staff.

The function was filled with a nostalgic atmosphere that brought out the feeling of inspiration amongst all that attended. Various staff recorded their MH stories which had elements of gratitude, hard work, satisfaction, friendship and most of all the lesson of hope against all odds. It was evident from the staff’ speeches that they valued their association with Malaysia Airlines throughout the years.

The retro livery aircraft is set to soar the skies starting on December 13, beginning with flights to Jakarta and Bangkok, two popular Malaysia Airlines’ destinations. To further enhance customer experience on-board, Malaysia Airlines has also introduced new in-flight meal presentations for flights operated by this exclusive aircraft. The menus are designed by Malaysia Airlines’ chef wearing their retro toques while looking back to identify the popular dishes of yester-years. This special menu consists of evergreen Malaysia Airlines’ dishes that will not fail to tantalise the tastebuds of customers.

There will also be a special surprise for passengers on MH711 and MH782 which will be operated using this retro livery aircraft to Jakarta and Bangkok respectively on December 13, 2012 from KLIA. Malaysia Airlines’ top management members will be present at the boarding gates to greet and hand-out surprise gifts to all passengers. All this and more are to reward and appreciate customers for their continuous support towards Malaysia Airlines.

Malaysia Airlines has played a significant role in the development of the nation, Malaysia and it was for this very reason, it was formed 40 years ago. While it has notched 65 years in aviation  which is shared together with Singapore Airlines, 40 years marks an important milestone in the history of Malaysia and Malaysians. As this calls for a definite celebration. Malaysia Airlines ushers in the New Year of 2013 in conjunction with the 40th year of its flight code ‘MH’, with its staff making a conscious commitment and resolution in each of their work areas, to come together, to be united and to be a team for a much stronger, revitalized, re-energised and sustainably profitable Malaysia Airlines. A strong Malaysia Airlines also reflects on the strength that brings the staff together on a commitment to serve customers better and better each day.

Malaysian Airline System-MAS (today operating as Malaysia Airlines) commenced operations on April 3, 1971.

Copyright Photo: Michael B. Ing. Boeing 737-8H6 9M-MXA (msn 40128) arrives at Bangkok on the first day of operations in the retrojet colors.

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