Airlines & Lessors

Russia’s UTair Group is considering an initial public offering (IPO) in 2013 to raise $100-$350 million in overseas stock offerings.

AMR Corp., parent of American Airlines (AA), and its pilots on Friday reached an agreement on language for a new labor deal.

Guyana-based EZjet has suspended operations in the face of financial hardship it attributes to its vendors, agents and mismanagement.

Gulf Air (GF) has renegotiated its 2008 orders covering 20 Airbus A330s and 24 Boeing 787s, agreeing instead to take up to 24 A320s and a maximum of 16 787s.

SAS Scandinavian Airlines has unveiled a SEK3 billion ($444 million) restructuring plan, which includes the sale of Norwegian regional airline Wideroe (WF) and 800 job losses, describing this as the “final chance” to safeguard its future.

Libya-based Afriqiyah Airways (8U) has placed a follow-on order for four Airbus A350 XWBs and converted its earlier order for six A350-800s to the larger A350-900.

Low-cost carrier Norwegian Air Shuttle (DY) will take the delivery of its first Boeing 787 in April 2013.

Ed Winter, the CEO of African budget start-up FastJet, has outlined a rough sequence for the markets which FastJet plans to enter using the air operator’s certificates of Fly540.

The sale of LOT Polish Airlines could take as long as late 2014, Poland deputy treasury minister Rafal Baniak told Polish Press Agency PAP.

TAP Portugal (TP) reported a third-quarter net profit of €102.3 million ($130.4 million), up 21% from a €84.6 profit in the year-ago period.

China Express Airlines (G5) is looking to be the first Chinese regional carrier to open international routes to Southeast Asia next year.

The Czech government may again try to privatize CSA Czech Airlines (OK) before the carrier completes a three-year ongoing restructuring process in 2013, according to Czech Prime Minister Petr Necas.

The International Airlines Group (IAG), parent company of British Airways and Iberia (IB), has unveiled a major restructuring plan for subsidiary Iberia (IB) after a poor third-quarter performance.

The International Airlines Group (IAG), parent company of British Airways and Iberia (IB), reported a third-quarter operating profit of €270 million ($344 million), down 25.6% from an operating profit of €363 million, before exceptional items—€301 million excluding British Midland International (bmi)—in the year-ago period.

Air Canada (AC) reported a third-quarter net income of C$429 million ($432.2 million), reversed from a net loss of C$124 million in the year-ago quarter.

Copa Holdings, parent of Panama’s Copa Airlines (CM) and Copa Airlines Colombia, posted third-quarter net income of $111.9 million, up 59.1% from a $70.3 million net profit earned in the year-ago period.

Delta Air Lines (DL) is relocating its commercial headquarters for Latin America and the Caribbean from Atlanta to São Paulo from Jan. 1, 2013.

SAS Scandinavian Airlines has deferred publication of its third-quarter results while it works to finalize credit lines and cement plans to sell-off of some of its assets.

Baltic’s state-owned Estonian Air (OV) reported a nine-month loss of €20.2 million ($25.9 million), nearly doubled from €11.2 million in the year-ago period.

Airbus parent EADS reported third-quarter net income of €309 million ($395.7 million), down 1% from a €312 million net profit in the year-ago period, on a 15% rise in revenue to €12.32 billion.

Russian and Cuban authorities are considering a new joint Cuba-based airline, according to the Russian government daily newspaper, Rossiyskaya Gazeta, which quoted deputy minister of transport Sergey Aristov.

International Airlines Group (IAG), parent company of British Airways and Iberia (IB), has confirmed it is planning to launch a formal cash takeover bid for Spanish carrier Vueling (VY) in early 2013, valuing the airline at €209 million ($268 million).

Asiana Airlines (OZ) has posted a third-quarter consolidated net profit of KRW80.2 billion ($73 million), a turnaround from a net loss of KRW34.7 billion for the same period a year ago.

Taiwanese airline TransAsia Airways (GE) has placed a follow-on order for six Airbus A321neos, which will be powered by Pratt & Whitney PW1100G engines.

Calgary-based carrier WestJet (WS) reported a third-quarter net income of C$70.6 million ($70.96 million), up 79.9% from a C$39.3 net profit in the year-ago quarter.