Aircraft Leasing & Management has been mandated by FlyBE to remarket seven BAe 146s for sale/leaseback or outright sale. Eventual disposal of the aircraft is part of the LCC's effort to replace its entire BAe 146 fleet with Embraer 195s. ALM will advise the airline on its 195 acquisitions.
Cathay Pacific Airways Chairman David Turnbull, also chairman of John Swire & Sons (HK) and Cathay's largest shareholder Swire Pacific, announced he will depart the Swire Group effective at the end of January after three decades, including 20 months as chairman of the airline. He will continue as nonexecutive chairman of Hong Kong Aircraft Engineering Co. He will be replaced by Christopher Pratt, head of the Swire Pacific Trading & Industrial Division and chairman of Swire Pacific Offshore.
Copa Airlines parent Copa Holdings SA filed a registration statement with the US Securities and Exchange Commission covering a proposed offering of 14 million Class A nonvoting shares by two of its shareholders, Continental Airlines and Compania de Inversiones Aereas S.A. The international offering will be led jointly by Morgan Stanley and Goldman, Sachs & Co. Copa estimated the offering will be priced in the range of $15-$17 per share, raising up to $238 million in gross proceeds for the sellers.
Czech Airlines said that an overhaul of its purchasing processes has saved more than CZK140 million ($5.64 million) and should result in further savings of up to CZK300 million next year. Central to the improved performance has been creation of a Central Procurement Dept. and adoption of new purchasing rules, the "unambiguous definition of tender subjects, aggressive price negotiations, and the application of modern purchasing methods, for example electronic auctions." Additionally, the number of CSA suppliers is being cut from 6,500 to some 2,000.
EasyJet intends to cut 10% of its approximately 500-member management and administrative staff. The layoffs were announced in an internal memo circulated by departing CEO Ray Webster and confirmed by an easyJet spokesperson, according to the London Times. Members of the airline's sales and marketing staff, IT and call center employees will be affected. The move came days after the carrier announced a half-year profit of £64.9 million ($111.2 million) ( ATWOnline, Nov. 23).
News from Travel Technology Update: Sabre lost a bid to end the U.S. Transportation Department's authority to regulate independent GDS companies. The U.S. Court of Appeals for the District of Columbia Circuit ruled that in a 1952 law that gave the department the authority to regulate ticket agents, Congress' definition of "ticket agent" was "sufficiently broad" to include GDSs.
DBA and Air Berlin announced yesterday that they are exploring an alliance and/or marketing cooperation that may include linking to each other's websites. "Both networks combine perfectly. Ours is based on the domestic point-to-point traffic. Air Berlin's focus is on European routes," DBA owner Hans Rudolf Woehrl said in a statement. DBA pilots already operate some Air Berlin aircraft.
Finnair Cargo signed a five-year contract with CHAMP Cargosystems for a suite of Web-based applications designed to cover the carrier's operations, revenue accounting processes and warehouse management system.
Airbus is finishing strong in Dubai after receiving a commitment for 70 A320s from AerCap, the Amsterdam-based leasing and asset management firm formerly known as debis AirFinance.
President Jacques Chirac's proposal to attach a levy of up to €40 ($47.24) on passenger tickets for flights leaving France passed yesterday ( ATWOnline, Nov. 23). The tax will go into effect July 1, assuming it is approved by parliament. The government hopes to raise approximately €210 million per year to put toward global poverty and healthcare issues, according to Reuters. Taxes for economy classes will range from €1 to €4 depending on distance, while taxes on premium cabin tickets will be 10 times as much.
US National Transportation Safety Board added a new page to its website providing the public with information on foreign aviation accident investigations in which NTSB has participated. The page may be accessed at www.ntsb.gov/ntsb/foreign.asp
Czech Airlines and Czech Railways signed a contract for joint marketing of SC Pendolino express trains on the Ostrava-Prague route. The trains will be operated as codeshare connections.
US Airways Group said in a filing with the US Securities and Exchange Commission that it raised $189 million from a public stock offering in September. It said at the conclusion of the filing that "America West Holdings and US Airways Group anticipate the combination of America West Holdings and US Airways Group will result in significant annual revenue, operating and cost synergies that would be unachievable without completing the merger.
UAL Corp., parent of United Airlines, reported in a filing with the US Bankruptcy Court an October net loss of $698 million, or $114 million excluding reorganization expenses driven by charges related to the termination of its pilots defined benefit pension plan. The monthly operating loss of $71 million was about level with the $65 million loss reported in October 2004.
Kaiser Aluminum signed a long-term contract with Airbus to supply heavy gauge plate for airframe production, adding to a June agreement providing for heat treat aluminum sheet and light gauge plate.
Ryanair is making good on its warning and reducing capacity at Newquay Airport following the decision by the Cornwall County Council to introduce a £5 ($8.61) surcharge on passengers and visitors to the region. As of today, the LCC will withdraw 12 flights per week. "It is regrettable that by taxing tourists Cornwall will lose 100,000 Ryanair passengers annually," Deputy CEO Michael Cawley commented.
Air France-KLM's net earnings nearly quadrupled in the fiscal second quarter ended Sept. 30, soaring to €717 million ($846.8 million) from €195 million in the year-ago period as traffic rose and the sale of the company's stake in Amadeus resulted in a €504 million capital gain.
