Air France profit up, Italy impatient on merger
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Air France KLM reported an second-quarter operating profit up 7.8 percent to 568 million euros ($731 million) on Thursday and hiked its merger synergy targets as it repeated forecasts on full-year earnings.
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The company said third-quarter profit rose more than expected, boosted by higher aircraft deliveries, but it scaled back next yearâs forecast due to delays on its 787 Dreamliner.
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Air France-KLM  on Thursday  posted a 32.5 percent rise in 2006-07 operating profit, led by  passenger traffic growth, and announced a plan to save 1.4  billion euros over three years, boosting its shares.
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Industrial gas supplier Air Liquide SA said Monday its net profit rose nearly 10 percent in the first half of the year as industrial gas markets recovered in North America and remained strong in Asia.
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Australian buyout target Qantas Airways Ltd.  raised its annual profit forecast for the third time in six months as fuel prices ease and demand for travel increases.
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Air France-KLM appeared best placed to buy Alitalia, ahead of Italian company Air One, as Alitalia's board prepared to meet on Friday on which rescue plan to recommend to the government.
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Budget airline Ryanair reports a 30% profit rise for the last three months of 2006, despite rising fuel costs.
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German software maker SAP said a stronger euro significantly slowed the growth of its revenue and profits during the third quarter.SAP reported third-quarter revenue of &#8364;2.4 billion ($3.4 billion as of Sept. 30, the last day of the period being reported), up 9 percent over the same period last year. Net profit was &#8364;408 million, up 10 percent from a year ago.SAP said its results could have been stronger, but were held back by the stronger euro. Over the last year, the euro has risen 13 percent against the U.S. dollar, going from an exchange rate of $1.27 on Sept. 30, 2006, to hit $1.43 on Sept. 30, 2007.The euro also rose substantially against the Japanese yen, rising from an exchange rate of &#165;150 to &#165;164 during the same period.Excluding the impact of the stronger euro, SAP said its revenue growth would have been four percentage points higher using constant currencies, while the increase in operating profit -- a number that excludes nonoperating income and taxes used to calculate net profit -- would have been five percentage points higher, reaching 14 percent instead of 9 percent.Despite the hit from currency exchange rates, SAP executives were bullish on the third-quarter results and said the company remains on track to post revenue growth of up to 14 percent, in constant currencies, for the full year, compared to growth of 12 percent last year.Revenue from new software licenses in the quarter was &#8364;715 million, up 11 percent from the same quarter a year earlier, or an increase of 15 percent at constant currencies, SAP said.Revenue from software and software related services, which includes maintenance revenue, was &#8364;1.74 billion, up 13 percent from the year before, or 16 percent at constant currencies.The growth rate from new software licenses was&#160;slower than in SAP&#39;s second quarter, when new license sales increased 18 percent. It was also slower than Oracle&#39;s growth from applications for its latest quarter, reported in September, when new license revenue jumped 65 percent, helped by Oracle&#39;s acquisitions.SAP&#39;s growth was sluggish in Germany and the U.S., where revenue grew only 4 percent, but stronger in the rest of Europe and the Americas. Asia-Pacific growth was 20 percent, excluding Japan, but sales in Japan grew just 3 percent.SAP signed a global enterprise agreement during the quarter to provide software for Apple. Such contracts typically run for five years and generate about &#8364;100 million in revenue for SAP, said SAP spokesman Frank Hartmann. SAP has only eight contracts of this kind, he said, including others with Nestle&#160;and Unilever. Apple was already an SAP customer.The results come at a time of intense competition between SAP and Oracle.&#160;Oracle has sued SAP&#160;for allegedly stealing software and other copyright material, and the companies have announced big acquisitions that take them deeper into each other&#39;s turf.SAP said last week it would&#160;buy business intelligence vendor Business Objects&#160;for $6.8 billion, while Oracle has offered $6.7 billion to&#160;buy middleware vendor BEA Systems, although BEA has said the offer is too low.&#160;
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US Airways Group  and JetBlue Airways Corp.  posted quarterly profits on Tuesday, against year-ago losses, as they took advantage of strong travel demand and higher ticket prices.
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French flag carrier Air France is raising its ticket prices by up to 12 euros (8 pounds) per flight leg, joining a number of other airlines in passing on higher jet fuel costs to passengers.
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Air France KLM, under pressure from Rome to commit to a merger with Alitalia, announced exploratory talks with the ailing carrier toy but reaffirmed conditions for a deal.Comment
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Alitalia's shares soared Tuesday as hopes increased that the struggling carrier and labor unions might clinch a deal on a relaunch plan aimed at saving the company before a deadline Wednesday.
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Allianz, the European insurer, said fourth-quarter profit rose 57 percent, helped by a tax gain and fewer claims from natural disasters. Income rose to 1.37 billion euros ($1.8 billion), or 3.15 euros a share, from 872 million euros, or 2.13 euros, in the period a year earlier. Lower costs helped increase profit as revenue declined 1.5 percent, to 24.8 billion euros.
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Time Warner Inc.  reported on Wednesday that quarterly profit rose 34 percent, boosted by AOL Internet asset sales in Europe and more digital cable and phone customers, but shares slipped as analysts said its 2007 outlook was overly conservative.
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Air France and KLM ticket prices are to rise after the carriers imposed further surcharges to counter high fuel costs.
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Air France-KLM, the world's largest airline by revenues, came a step closer Friday to controlling the near-bankrupt Alitalia after the Italian government said it could begin exclusive takeover talks.
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Record fuel prices almost halved British  Airways' third-quarter profits, but Europe's No.2 airline  raised its full-year revenue forecast on Friday as passenger  numbers and its cargo business both improve.