Virgin America yesterday revealed that new Chairman Don Carty will own just shy of 1% of the company or about 65,000 shares, while he and a partner invest about $5 million in the startup.
Republic Airways Holdings reached a deal with the Pennsylvania government to establish ad maintenance and crew base at Pittsburgh Airport to support the Embraer 170 fleet flown by its subsidiary airlines.
Pinnacle Airlines might consider taking legal action to avoid paying additional aircraft security deposits to partner Northwest if a March 15 deadline for the payment is not extended. Part of the Memphis-based regional's sublease agreement with Northwest details that the major airline can request $21.7 million more in security deposits from Pinnacle once the promissory note the regional issued to Northwest has been paid.
Airbus Germany plans to create 1,250 jobs this year, the Airbus subsidiary said yesterday. The additional workers are necessary to boost narrowbody production at the Hamburg plant as well as interior and component work for the entire product range. Airbus employed 21,100 staff in Germany at the end of last year.
Iberia's full-year 2005 profit nearly doubled to EUR396 million partly due to one-time gains from the sale of Iberia's stake in Amadeus and Savia, but the airline's operating profit sank nearly 36% to EUR116 million because of fuel costs.
Boeing last week signed a deal to buy Swedish software company Carmen Systems, which will play a major role in broadening the services it offers through its Jeppesen subsidiary, the airframer said. Carmen is a fast-growing company that has seen revenue and margins increased 30% annually in the past seven years. The company supplies "resource optimization software and services" to the transportation industry, particularly airlines and railways. Boeing said it will not disclose the value of the purchase, which is still subject to regulatory approvals.
Air Malta reported a MTL2.3 million (US$6.4 million) operating loss for the first nine months of its fiscal year due to a drop in revenue and high fuel costs.
Satena, operated by the Colombian air force as a commercial airline, plans to go international in 2007 with flights to Ecuador, Panama, Peru and Venezuela. After 44 years of serving domestic destinations -- mostly to remote or isolated areas not covered by other airlines -- Satena will invest $100 million in infrastructure, technology and fleet (now being expanded with Embraer regional jets) to upgrade passenger services and guarantee optimum safety.
Spain's Grupo Ferrovial could make its long-rumored bid for U.K. airport operator BAA this week, U.K. and Spanish media reports say. Ferrovial last month said it is considering a bid as part of a consortium, and speculation has surrounded investment funds in Australia, Canada and Singapore as potential partners.
Northwest and its pilots union on Friday reached a tentative $358 million concession deal after round-the-clock negotiations, staving off a looming decision by the bankruptcy judge and a possible strike.
Regional startup Wayra Peru will launch operations on March 20, announced Oceanair President German Efromovich. Oceanair holds a minority 49% equity stake in the carrier, a joint venture with Peru's Sustainable Investments Fund (FIS), which holds the majority stake.
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Aiming to capitalize on rising demand for advanced jet engine metals, Ladish Co. plans to increase its capacity to forge super-alloy materials by 50%. The company will add a third isothermal forging press at its plant in Cudahy, Wis. Isothermal forging, a process pioneered by Ladish in the early 1970s, is required to forge super-alloy materials that can withstand high temperatures. Aircraft engine makers are using more advanced metals to improve fuel efficiency and reduce emissions.
St. Louis Airport is on track to open its fourth runway in mid-April, reports Director Kevin Dolliole. Runway 11/29 is about 9,000 feet long and will boost operations capacity as much as 60% in bad weather. The problem is that the number of weekly departures is down 37% from four years ago and capacity is off nearly 50%. Dolliole tells the FAA Forecast Conference there are as many as 30 empty gates at the airport.
