This week, Aer Lingus Group Plc (LON:AERL) reported that trading in the first half of 2010 had been ahead of the prior year, reflecting strong unit revenues coupled with reductions in fuel and staff costs. Trading for the month of June specifically was stronger than expected due to higher yields and long haul load factors than anticipated. The company noted that recent yield performance and long haul load factors had exceeded expectations and the forward booking profile suggested that this strength should continue for at least the third quarter. Aer Lingus now expects that its 2010 operating result (before exceptional items) should be no worse than break even.
Meanwhile, British Airways (LON:BAY), American Airlines (NYSE:AMR) and Iberia (IBLA:MCE) received the regulatory green light to operate a joint business on transatlantic flights. Following European Union approval on July 14, the airlines have now been granted anti-trust immunity from the US Department of Transportation. BA’s chief executive, Willie Walsh, said: “This final approval is fantastic news for all three airlines and theoneworld alliance. We've waited 14 years to bring the benefits of the transatlantic joint business to our customers and level the playing field with the other two global alliances.” The airlines plan to launch the transatlantic joint business this autumn and will co-operate commercially on flights between the EU, Switzerland and Norway and the US, Canada and Mexico.
Peter Haspel has stepped down from his role as managing director of Essenden (LON:ESS), the group that operates 38 ten pin bowling centres across the UK. He will leave the business at the end of the year and has stepped down from the Essenden board with immediate effect. During the remainder of the year, Haspel will continue to work within the business to hand over the work he has been doing.
Reporting on its performance during the 42 weeks to July 16, pub group Enterprise Inns (LON:ETI) said it had continued to see an improving trend in trading performance since its interim results and, whilst remaining cautious about the underlying economic environment, said it was expecting to deliver results for the full year in line with expectations. On a year-to-date basis, despite challenging conditions across the pub sector, average income per pub for the entire estate is down by just 2% on last year.
Pub group Fuller Smith…
