Three things you need to know in the financial markets this morning from investment writer, Tony Cross
Inmarsat
Mobile satellite communications provider Inmarsat has this morning announced it has won a contract with Indonesia’s Garuda Airlines. The deal will see the company’s GX Aviation inflight broadband solution fitted to more than 175 planes within the Garuda group. No details of the contract’s value have been disclosed.
Wizz Air
Keeping with aviation, Eastern European low cost carrier Wizz Air has published Q3 numbers today. Passenger numbers are up 15% and revenues have risen by more than 20% but rising fuel costs have contributed to margins taking a hammering, falling from 3.3% a year ago to just 0.3%. Ancillary revenues – the fees collected for the bits beyond the core ticket price like bag charges or insurance – are rising faster than ticket sales, which provides some useful headroom. Creativity is necessary to keep this revenue stream growing.
Staffline
An interesting note from Staffline who should have been tabling results for the year to December 31st this morning. These haven’t been delivered and there’s no detail as to how long the market will have to wait for the numbers. Concerns may be running high that irregularities have been found, so the share price reaction this morning could prove interesting.
