Turkish Airlines confirmed that it has exercised options for 10 Boeing 737-800s and five 737-900ERs, valued at more than $1.2 billion based on list prices.
United Continental Holdings and All Nippon Airways announced April 1 the launch of their transpacific joint venture, though which “United Airlines and Continental Airlines may coordinate sales and marketing with ANA and improve benefits offered to each airline’s frequent flyers.” UCH President and CEO Jeff Smisek said the JV “will offer travelers greater choices, convenience and flexibility for their transpacific travels.” It was enabled by the US-Japan open skies agreement and antitrust immunity granted by US and Japanese regulators.
SkyWest Inc., the Utah-based parent of regionals SkyWest Airlines, Atlantic Southeast Airlines and ExpressJet, said Friday it is expecting to report a $13-$15 million net loss for the first quarter.
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Turkish Airlines confirmed that it has exercised options for 10 Boeing 737-800s and five 737-900ERs, valued at more than $1.2 billion based on list prices.
Air Lease Corp. mandated KfW IPEX-Bank as arranger and sole lender for an eight-year commercial debt financing of a Boeing 777-300ER acquired from Air France in a sale/leaseback deal.
International Lease Finance Corp. announced a commitment for a $1.3 billion secured term loan with a group of 15 banks from Europe, Asia and North America. The company said it also has the right to "upsize the transaction" by $200 million in commitments from other lenders.
US FAA said it is proposing a $550,000 civil penalty against Executive Airlines Inc., the Puerto Rico-based carrier that operates under the American Eagle brand, for allegedly operating two ATR 72s without completing required inspections of the aileron control systems. According to FAA, “Executive Airlines operated the two aircraft when they were not in compliance with regulations on at least 35 revenue flights between June 13 and June 19, 2009, because the airline exceeded the mandated number of flight hours for a re-inspection.”
China Eastern Airlines reported a record net profit of nearly CNY5 billion ($761 million) in 2010, based on international accounting standards, a massive increase over CNY168.8 million earned in 2009.
IndiGo selected Pratt & Whitney PW1100G engines to power its future fleet of up to 180 A320neo aircraft, "probably Pratt's largest order in the last 50 years," P&W President David Hess remarked to journalists at a state of the business briefing in West Palm Beach, Fla.
Cargolux reported 2010 net income of $59.8 million, reversing a loss of $153.3 million in 2009 and marking its first profitable year since earning $82.6 million in 2006.
IndiGo selected Pratt & Whitney PW1100G engines to power its fleet of 150 A320neo aircraft, plus 30 options, "probably Pratt's largest order in the last 50 years," P&W President David Hess remarked to journalists at a state of the business briefing in West Palm Beach, Fla.
Cargolux reported 2010 net income of $59.8 million, reversing a $153.3 million net loss in 2009 and marking its first profitable year since earning $82.6 million in 2006.
Ryanair announced on Wednesday that it will introduce a €2 ($2.82) levy per passenger to fund the costs associated with “force majeure” cases under the EU261 European passenger compensation regulation.
AviancaTaca Holding S.A., the parent of Avianca and TACA, on Monday commenced an initial public offering on the Colombian Stock Market consisting of 100 million shares of non-voting preferred stock, priced at $2.70 (COP5,000). The offering is expected to raise approximately $250 million after underwriter fees and discounts. The IPO will conclude April 15. Proceeds will be used for "corporate expansion plans of the holding company [and] subsidiaries," the company said.
Boeing and GE Capital Aviation Services finalized an order for 10 GE90-115B-powered 777-300ERs valued at approximately $2.8 billion at list prices. The aircraft "will help GECAS meet growing airline demand for long-haul passenger airplanes," said Boeing in a statement. "This order adds to our existing portfolio of 777 aircraft," said GECAS President and CEO Norman Liu. "A key part of our strategy is to expand our long-haul product offerings to satisfy customer demand."
Qantas has slashed growth plans and warned of management cuts as the airline grapples with unprecedented natural disasters and soaring jet fuel prices.
Air China posted a 2010 net profit of CNY12 billion ($1.83 billion) based on international accounting standards, more than double net income of CNY4.9 billion in 2009.
Air India has completed the double migration of Air India and Indian Airlines to SITA's Horizon Passenger Services System. "SITA successfully took the two separate airlines' IT platforms and completed this complex migration to the new PSS in a record 293 days.This included the successful transfer of more than half a million Passenger Name Records with 99.99% accuracy," SITA said. The migration is a key step toward merging the two airlines and is a requirement for Air India's entry into Star Alliance set for mid-year.
