ExpressJet Holdings said its stockholders voted to approve the company's acquisition by SkyWest Inc. and planned merger with SkyWest's Atlanta-based subsidiary, Atlantic Southeast Airlines. It expects the transaction to close on Friday. SkyWest Inc. reached an agreement in August to acquire Houston-based ExpressJet Holdings for $6.75 per share in cash, or approximately $133 million ( ATW Daily News, Aug. 5).
Hainan Airlines is negotiating with the Shanghai municipal government to seek a capital injection for its Shanghai Deer Air subsidiary as it looks to expand its business jet fleet. Shanghai Deer Air was launched at the end of 2009 in its namesake city with a registered capital of nearly CNY1 billion ($150 million). HNA’s subsidiaries HNA Tourism Company, Grand China Logistics and Yangtze River Express Airlines are all stakeholders.
Mexicana Airlines, which ceased operations in August under severe financial distress, said the Mexican firm Capital PC has agreed to invest more than $150 million to allow the carrier to restart operations next month.
Malta's government and trade unions agreed Tuesday to set up a steering committee to oversee the restructuring of Air Malta as the national airline's future “hangs in the balance,” several Maltese media outlets reported. The government has notified the European Commission of its aim to grant KM urgent rescue aid tied to a massive restructuring program. No details about this plan are available at this time, but early retirement schemes are expected. KM CEO Joe Cappello declined to comment to ATW on the ongoing situation within the carrier.
SAS Group Wednesday reported a third-quarter net loss of SEK1.05 billion ($156.7 million), reversed from a SEK152 million profit in the year-ago period. The results were negatively affected by the European Commission’s SEK660 million air cargo price-fixing fine (ATW Daily News, Nov. 10) as well as the NOK160 million the group was ordered to pay to Norwegian Air Shuttle in a corporate espionage case (ATW Daily News, Oct. 1), SAS said in a statement.
Singapore Airlines has been forced to perform engine changes on three of its Airbus A380s as a result of ongoing investigations into the uncontained failure of a Rolls-Royce Trent 972 on a Qantas A380 last Thursday after take-off from Singapore (ATW Daily News Nov. 9).
Singapore Airlines has been forced to perform engine changes on three of its Airbus A380s as a result of ongoing investigations into the uncontained failure of a Rolls-Royce Trent 972 on a Qantas A380 last Thursday after take-off from Singapore (ATW Daily News Nov. 9).
Juneyao Airlines raised its profit forecast to more than CNY400 million for this year owing to the Shanghai World Expo held from May to October, according to Juneyao Chairman Wang Junjin.
Virgin America achieved profitability for the first time in the third quarter, posting net income of $7.5 million, reversed from a $5.9 million net loss in the year-ago period.
Skymark Airlines, a Japanese LCC, announced to Tokyo media Monday it is ordering four Airbus A380s, with options for two more, according to multiple reports. Airbus said it had “no comment at this time.” Skymark did not disclose the purchase price; however, Airbus lists its catalog price for an A380 at $346.3 million each. The Centre for Asia Pacific Aviation said Skymark plans to introduce the A380 in its fiscal year commencing April 2014 and will sign a purchase agreement next spring. Two aircraft will be delivered in 2015, followed by two in 2016.
Singapore Airlines parent SIA Group reported net income for its fiscal second quarter ended Sept. 30 of S$380.2 million ($295.6 million), turned around from a S$158.8 million net deficit in the prior-year period, as revenue jumped 17.9% to S$3.63 billion.
Singapore Airlines parent SIA Group reported net income for its fiscal second quarter ended Sept. 30 of S$380.2 million ($295.6 million), turned around from a S$158.8 million net deficit in the prior-year period, as revenue jumped 17.9% to S$3.63 billion.
Virgin America achieved profitability for the first time in the third quarter, posting net income of $7.5 million, reversed from a $5.9 million net loss in the year-ago period.
US Airways announced Monday it plans to add a total of 500 flight attendants and pilots through “a combination of new hires and recalls of furloughed workers.” It said the need for the workers is driven by planned retirements and attrition. The carrier plans to hire 420 flight attendants and 80 pilots by July 2011. After the recalls, US said it expects to employ approximately 4,970 pilots and 7,300 and flight attendants.
AerCap Holdings earned $51.9 million in the third quarter ended Sept. 30, up 46.2% over income of $35.5 million in the year-earlier period. The operating lessor's net income excluding the impact of mark-to-market interest rate caps and share-based compensation climbed 56% to $61.1 million. Revenues during the period soared 125% to $478.1 million primarily owing to an increase in sales revenue and basic lease rents "driven by the additional aircraft acquired" in the merger with Genesis Leasing and the deliveries of forward order aircraft.
Three days after celebrating the launch of its Istanbul Ataturk-Washington Dulles service, Turkish Airlines told reporters in Washington that it intends to begin serving Detroit, Houston, Miami, Boston and Atlanta. "We are in the planning period," CEO Temel Kotil said.
Republic Airways Holdings reported third-quarter net income of $21.3 million, widened from a $2.6 million net profit in the year-ago period, and also announced Monday that it intends to offer 12 million shares of its common stock in an underwritten public offering.
Aer Lingus reported third-quarter operating profit (before exceptional items) surged 35.4% over the year-ago period to €79.2 million ($111 million), as revenue rose 5.5% to €411.7 and operating costs remained virtually flat (+0.3%) at €332.5 million.
Norwegian Air Shuttle has taken a major step away from its original LCC business model with the signing of an initial LOI with ILFC to lease two new 787-8s for 12 years with deliveries from the fall of 2012. Norwegian currently operates an all-737 fleet.
Boeing and Saudi Arabian Airlines announced an order Monday for 12 Boeing 777-300ERs with options to buy 10 more in a deal valued at $3.3 billion at average list prices.
Qantas will keep its Airbus A380 fleet grounded until at least Wednesday as it focuses on whether newly discovered oil leaks may hold the clue to the catastrophic failure of the No. 2 Rolls-Royce Trent 900 engine last Thursday (ATW Daily News Nov. 5).
