China Southern Airlines said Tuesday in a widely cited filing with the Hong Kong Stock Exchange that it has reached an agreement with Boeing to purchase six 777 freighters valued at $1.58 billion based on list prices.
Japan Airlines will expand its partnership with China Eastern Airlines to increase the number of eligible flights under the airlines' Mileage Partnership Agreement. From June 1, JAL Mileage Bank members can earn mileage on all flights operated by MU on Japan-China routes as well as China domestic routes, including non-codeshare flights that were not applicable.
FlyDubai said it will need to recruit 600 pilots over the next four years to meet the needs of its growing fleet and serve its rapidly expanding route network. The low-cost carrier, which already has more than 200 pilots, requires seven captains and seven first officers to crew each of the 50 ordered Boeing 737s, the last of which is set to be delivered in 2016, it said. “We are recruiting pilots of all type ratings aggressively to ensure we will have the staff to meet our operational requirements,” CEO Ghaith Al Ghaith said in a statement.
El Al reported a first-quarter net loss of $42.9 million, widened from a $16.5 million net deficit in the year-ago period, as a sharp rise in expenses outpaced a negligible revenue gain.
Air France 447 took less than four minutes to fall from approximately 38,000 ft. into the waters of the South Atlantic following the disengagement of the autopilot on the Airbus A330-200, according to an interim report released by the French BEA Friday that is based on CVR and FDR analysis.
Air France 447 took less than four minutes to fall from approximately 38,000 ft. into the waters of the South Atlantic following the disengagement of the autopilot on the Airbus A330-200, according to an interim report released by the French Air Accident Investigation Bureau (BEA) Friday that is based on CVR and FDR analysis
El Al reported a first-quarter net loss of $42.9 million, widened from a $16.5 million net deficit in the year-ago period, as a sharp rise in expenses outpaced a negligible revenue gain.
The Romanian government has removed Tarom from its plan to privatize state-owned businesses ( ATW Daily News, May 20, 2010). According to the Romania Business Insider, RO is not included in the government’s letter of intent for its new financial agreement with the International Monetary Fund. The state plans to sell only a minority holding in the carrier, which hopes to breakeven this year.
Goodrich Corp. announced it completed the acquisition of Microtecnica, a process it began in early April ( ATW Daily News, April 4). It acquired the business from Stirling Square Capital Partners for total cash consideration of approximately €331 million ($462 million).
Aer Arann said it is rebranding to Aer Arann Regional, to reflect “recent positive developments in the airline as it expands its operations beyond Ireland and the UK into continental Europe.” The Irish company will continue to operate under the name Aer Arann but over the coming weeks will introduce the new Aer Arann Regional logo and livery across its aircraft, airport signage, and marketing and promotions.
The Chinese government raised domestic jet fuel prices to CNY7,640 ($1,175) per ton, up 11.7% from CNY6,840 per ton in April, despite the decline of international oil prices since May. This is the third price hike this year ( ATW Daily News, April 8).
Norwegian Air Shuttle said Thursday it signed a letter of intent with Icelandair to acquire three Rolls-Royce Trent 1000-powered Boeing 787-8s that Icelandair currently has on order. Two of the aircraft are expected to be delivered during the first half of 2013 and the third in early 2015. Norwegian is also slated to receive two 787-8s on lease from ILFC in late 2012/early 2013 ( ATW Daily News, Nov. 9, 2010).
Spirit Airlines launched its IPO on Thursday and began trading on NASDAQ under the "SAVE" symbol, but the public offering price of $12 per share of common stock was at the low end of the range it cited in a Wednesday regulatory filing and well below the $14-$16 planned earlier this month.
Pinnacle Airlines Corp. announced late Wednesday it has named former CEO of Frontier Airlines Sean Menke as president and CEO, to replace Philip Trenary. Pinnacle Board Chairman and Interim CEO Donald Breeding called Menke a “visionary executive with great experience in commercial, operational and financial areas of both mainline and regional airlines. I am confident that Sean will take Pinnacle to a much higher level by working with and leading our strong team of Pinnacle employees."
The Houston Airport System and United Continental Holdings said that construction on the first phase of a $1 billion redevelopment project at Houston Intercontinental will start by the end of 2011. Phase one, slated to cost $161 million, involves building a Terminal B south concourse for domestic regional jet operations. In addition, UCH said it extended its lease on IAH's Terminal C to 2027.
Joint venture partners All Nippon Airways and First Eastern Investment, a Hong Kong-based private equity firm, named their new LCC Peach Aviation. ANA said the name symbolizes longevity, energy and happiness—as peaches do in Japan. "The name Peach was chosen to reflect our mission of becoming a completely new type of airline that links destinations in Japan and Japan with Asia," said Peach Aviation CEO Shinichi Inoue in a statement reported by AFP.
Spirit Airlines lowered the size and pricing of its planned IPO, saying in a Wednesday regulatory filing that it will offer 15.6 million shares of common stock, 22% fewer than the 20 million shares it said it was offering earlier this month ( ATW Daily News, May 13). It also said the shares will now be priced at $12-$13 each, below $14-$16 previously.
Malaysia Airlines blamed the steep increase in fuel prices and the strengthening of the Malaysian Ringgit for a pre-tax loss of MYR238.25 million ($75.7 million) for the first quarter ended March 31, reversed from a pre-tax profit of MYR320.25 million in the year-ago period.
Sending a major signal to the airline industry that the competitive landscape of long-haul travel is changing, Singapore Airlines announced Wednesday it will set up a new no-frills, low-fare carrier operating twin-aisle aircraft on medium- and long-haul routes.
In a major signal to the airline industry that the competitive landscape of long-haul travel is changing, Singapore Airlines announced Wednesday it will set up a new no-frills, low-fare airline operating twin-aisle aircraft on medium- and long-haul routes.
Air New Zealand will increase international capacity to China by 21.6% and Japan by 16% from November. In China, ANZ will increase service to nine-times-weekly on its Auckland-Hong Kong route, three-times-weekly on its AKL-Beijing route and four-times-weekly on its AKL-Shanghai route. ANZ plans to introduce a Boeing 747-400 on Japan routes between December and February.
Hainan Airlines on Tuesday relaunched Chongqing-based China West Air in conjunction with Chongqing Yufu Capital Management Co., which is controlled by the Chongqing municipal government. HNA didn’t reveal the exact figure but noted the combined investment was CNY3 billion ($460.8 million).
Lufthansa said it will shut down Italian subsidiary Lufthansa Italia and change its focus in Italy to bringing passengers to LH's major European hubs. "Given the slump in prices on European routes and the competition, it was extremely difficult to establish a profitable European network under a separate brand," stated LH Chairman and CEO Christoph Franz. "It therefore makes sense to focus the Lufthansa Group's offering on connecting the Italian market to the group's hubs."
Korean Air on Tuesday took delivery of its first Airbus A380 in a Toulouse ceremony. It will become the first Asian carrier to operate a GP7200-powered A380.
Despite soaring fuel prices, the AirAsia Group posted a 46% year-over-year lift in first-quarter operating profit to MYR241.72 million ($79.4 million) on a 20% increase in revenue to MYR1.05 billion.
