The Maldives government has terminated a $511 million contract awarded to Bangalore-based GMR Group in 2010 for the upgrade, expansion and operation of Male International Airport.
US Airways Group estimates Hurricane Sandy-related cancellations to and from the US Northeast will result in a $30 million negative impact to its revenue and a $15 million negative impact on its earnings for the month of October.
Austrian-based low-cost carrier FlyNiki (HG), an Air Berlin (AB) partner, will phase out all seven Embraer E-190s during the winter and exchange them with AB’s Airbus A320 family aircraft.
Shanghai-based China Eastern Airlines (MU) has relaunched China United Airlines (KN) after purchasing a 20% stake from parent company China Eastern Air Holding in August.
Greek carrier Aegean Airlines (A3) reported after-tax losses of €8.7 million ($11.3 million) for the first nine months, deepened from a €2.72 million loss in the year-ago period.
Reported plans to streamline the ownership structure of EADS are unlikely to “materially improve corporate governance issues at the aerospace company,” according to Fitch Ratings.
SAS Scandinavian Airlines has secured an agreement with its Danish pilots’ union, the last labor accord it needed to obtain a loan that will help save it from bankruptcy. The new Danish pilots’ collective agreement was the last of eight union accords SAS scrambled to conclude so that it could meet the requirements of an SEK3.5 billion ($515 million) revolving credit facility from banks and core shareholders ( ATWDaily News, Nov. 19).
Brazilian low cost carrier GOL is closing down its Webjet subsidiary, returning all 20 of the carrier’s Boeing 737-300s and laying off 850 employees. Announcing the closure Friday, GOL said, “Webjet has an operational model based on a fleet that mostly consists of aging Boeing 737-300 aircraft that are advanced age, technologically out of date and consume large amounts of fuel. Given the Brazilian sector’s new cost standards, this model is no longer competitive.
Ryanair (FR) will cut its flight schedule at Budapest Airport (BUD) by 40% following its latest spat with the airport’s operator over the cost of services. The Irish low-cost carrier will cut 10 routes and reduce the number of flights to and from the Hungarian capital from 280 to 170 a week because of what it says are increased charges and inefficiencies at the airport.
KLM will launch a twice-daily scheduled service from Manston Airport (MSE) in Kent, Southeast UK, to Amsterdam Schiphol, further consolidating its position as a significant player in the UK regional market.
Indian carriers Jet Airways (9W) and SpiceJet (SG) have reduced their losses in their second quarter (July-September), improving performance over the same period last year. Kingfisher’s (IT) losses, however, mounted as the airline operated on a limited schedule before it suspended operations.
Investec Aviation Finance has launched a new global aircraft fund to enable institutional investors and pension funds to invest in aircraft that are leased to airlines globally.
Swiss WorldCargo has reorganized its management structure into two main markets: Europe and Africa as one group, and Americas, Middle East and Asia as the other. Lalin Sabuncuoglu-Janssen, currently head of Europe, becomes VP-Europe & Africa, while Ashwin Bhat, VP-Europe & Africa, becomes VP-Americas, Middle East & Asia. Jack Lampinski, senior director of the Americas, retains his title. Susanne Wellauer becomes manager-SWISS Mail, formerly sales manager in the Basel district.
Algiers-based Air Algerie signed a memorandum of understanding (MOU) with six other Arab Airlines for cooperation in maintenance and exchanging spare parts as well to create specialized maintenance centers, news agency Algeria Press Services reported without giving more details of the air companies. The MOU also includes airlines from Egypt, Saudi Arabia, Qatar, Kuwait and the United Arab Emirates.
