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The Europe Aviation Sectors : A Company and Industry Analysis (October 2007)
Mergent, Oct 2007, Pages: 36
This report updates the previous European aviation report, focusing on the markets in France, Germany, Ireland, Italy, Spain and the United Kingdom
Current Environment - Key Points
- The announcement on March 22 of an open skies agreement between the European Union and the US indicated that genuine competition was finally on its way
- The rising demand for air travel, thanks to declining airfares and the proliferation of low-cost carriers, has made aircraft one of the fastest growing sources of greenhouse gases
- Airlines are actively pursuing a wide range of fuel-saving measures in their day-to-day operations with jet fuel hovering around US$60 a barrel - more than double the price in 2000
- The onus on major carriers to control emissions accelerated the push for alternative fuels and technologies and boosted demand for eco-friendly aircraft, resulting in major changes to current flight profiles
- European airlines were buoyed by an increase in traffic in the first half of 2007, despite operating in a difficult economic environment characterized by high fuel prices and fierce price competition. - More than 171,271 million passengers were carried by the Association of European Airlines- (AEA) 31 member airlines in the first six months of 2007, up 3.6% from 2006
- As airlines struggled to rein in costs, some raised airfares, suspended less profitable routes and resorted to job cuts
- Acquisition and alliance activities picked up, as competition increased along with structural changes in the industry.
Industry Profile - Key Points
- In 2006, the top five European airline groups ranked by revenues were Air France-KLM, Lufthansa, British Airways, SAS and Iberia, according to a Mergent analysis
- Air France ranked first among AEA-s 31 member airlines in terms of RPK while KLM ranked fourth in terms of RPK and FTK in the first half of 2007. - European airlines are buying new planes to replace older models and to support the expansion of their operations
- In December, Star Alliance will add three new members - Air China, Shanghai Airlines and Turkish Airlines - bringing the total destinations it serves to 943 worldwide
- Travelers to and from the UK are frustrated by a new set of airline security rules aimed at preventing terrorists from smuggling explosives onboard which causes long delays at custom checkpoints. Market Trends and Outlook - Key Points
- Environmental concerns have become a top priority for the aviation industry. To improve the aviation industry-s impact on the environment, the EU plans to include aviation in its emission trading scheme from 2011 and cap carbon emissions on all aircraft arriving at or departing from an EU airport by 2012
- Analysts believe that the need to control emissions will encourage European airlines to invest in more fuel efficient aircraft
- The all-premium class carriers have grown so rapidly in the past year and a half that they have begun to affect corporate pricing as well as alter market share. - European airlines are likely to raise fares and conserve fuel to soften the blow of rising fuel prices
- Radio Frequency Identification (RFID) technology is poised to replace bar coded bag tags in the next few years. It has already in use at several major airports including Las Vegas McCarran International (LAS) and Hong Kong International Airport (HKIA).
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