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Aircraft demand expands in Asia Pacific to lift BOC Aviation profits

China’s Three Biggest Airlines Face $1.3 Billion Currency Losses

China’s three biggest airlines are poised to report losses totaling 8.5 billion yuan ($1.3 billion) from currency swings this year as a weaker yuan proves a drag amid rising traffic and cheaper fuel. The silver lining: The losses are narrowing. Flagship carrier Air China Ltd. may face...

Ryanair says profit guidance unchanged despite weaker fares

Ryanair does not plan to change its profit guidance despite seeing weaker than expected average fares over the summer months, the airline said on Friday after a briefing for industry analysts. Average fares in the six months to the end of September are likely to have fallen between 8 and 9 p...

Business Rescue for SAA – an absurd misdiagnosis

South African Airways (SAA) needs a going concern government guarantee in order to finalise its Annual Financial Statements (AFS). The matter has been brought to the attention of the shareholder representative (National Treasury) and there are extensive, on-going engagements on the matter with the aim of finding a resolution and to provide certainty to all concerned. This does not mean the company...

Taylor English Advises on $8 Billion Deal for Russian Airlines

Taylor English Duma LLP served as outside legal counsel to Russia’s Volga-Dnepr Group on its agreement to acquire 20 Boeing 747‑8F aircraft worth $8 billion. Based in Moscow, Volga-Dnepr Group is a consortium that owns, operates, and manages several cargo airlines. The deal – announced July 12, 2016 at the Farnborough Air Show – is a landmark transaction. It represen...

Fitch: Commercial Aircraft Delivery Outlook Intact Despite Order Slowdown

Fitch Rating’s large commercial aircraft (LCA) delivery outlook for 2016 and 2017 is intact despite some weakness in parts of the widebody aircraft market, delivery deferrals across most regions of the airline industry, and a likely decline in new orders in 2016 compared to 2015. While Fitch is more cautious than at the beginning of the year, the record order backlog combined with other s...

Profit up at Etihad Indian partner Jet

India airline Jet Airways, a member of the Etihad Airways partnership, reported a surge in operating profit in the first quarter of the 2016-17 financial year, but warned intense competition in the air travel market would continue into the second half. The operating profit leapt by 124 per cent to US$33 million in the three months to June end for India’s second-largest carrier, boosted by...

Lufthansa Cargo takes over time:matters Group

Lufthansa Cargo took over complete ownership of the time:matters Group, experts in global sameday delivery and time-critical international spare part logistics. The cargo airline, which spun off time:matters as a subsidiary in 2002, had already held a 49 per cent share. The majority 51 per cent shareholding had been held by financial investor Aheim Capital and time:matters management. Lufthansa Ca...

Ilyushin Finance Co has reduced the number of ordered CS300 from 32 to 20 aircrafts

The leasing company "Ilyushin Finance Co". (IFC) has reduced the number of ordered Bombardier CS300 from 32 to 20 aircrafts. The delivery is expected in late 2018. The parties explain this adjustments differently. According to Bombardier's opinion Russian customers consider new market’s demands, but IFC refers to the Canadian export agency which hasn’t provided cheap f...

Oman Air Agrees Sale And Leaseback Arrangement With Dubai Aerospace Enterprise

As Oman Air continues its ambitious fleet and network expansion plan, the airline has signed a letter of intent (LOI) with Dubai Aerospace Enterprise (DAE) Ltd for the sale and leaseback of two new B737-800 aircraft. The first of the two aircraft was delivered on 25th July and the second is expected to arrive at Muscat this month. Under Oman Air’s expansion programme, launched late 201...

Flexjet Buys UK-based FlairJet in Euro Expansion Bid

Flexjet Ltd., the UK subsidiary of U.S. based Flexjet, today announced the acquisition of aircraft charter management firm FlairJet from Marshall Aerospace to expand the fractional provider’s footprint into Europe, using a fleet of eight Nextant 400XTis, as well as Flairjet’s existing fleet of seven managed jets. Flexjet, which revealed plans to enter the region this fall at EBACE, wil...

Qatar Investment Authority takes stake in St Petersburg airport operator

Germany’s Fraport is selling a stake in the operator of the St Petersburg airport, which is ailing from low traveller numbers due to the weakness of the Russian rouble, to the Qatar Investment Authority (QIA). The deal, from which Fraport expects to generate a gain of €30 million (Dh123.1m) to €40m, will help to offset weakening revenues at hubs such as Frankfurt and Antalya and...

Czech cabinet approves investment deal with GE Aviation

The Czech government approved a deal with GE Aviation on Wednesday for an investment in a new turboprop engine plant that will cost an estimated 350 million euros ($384.76 million). "The Czech government today approved cooperation with GE Aviation," Industry Minister Jan Mladek said on Twitter. "Aviation engines will be developed, examined and produced in the Czech Republic."...

SIA Engineering Posts Group Profit Of $198.4M For 1st Quarter 2016-17

GROUP EARNINGS SIAEC Group posted a profit attributable to owners of the parent of $198.4 million for the quarter ended 30 June 2016, an increase of $157.1 million. During the quarter, the Group made a $141.6 million gain from the divestment of its 10% stake in Hong Kong Aero Engine Services Ltd (“HAESL”) to Rolls-Royce Overseas Holdings Limited (“RROH”) and Ho...

fastjet raises £15mn through share placement

fastjet says it has been able to raise GBP15 million (USD19.7 million) in fresh capital through the issuance of 30 million new ordinary shares priced at GBP0.50 (USD0.66 per share). Among the investors was the LCC's own executive chairman, Colin Child, who agreed to subscribe for 140,000 new ordinary shares or 0.13% of the enlarged issued share capital. The funds will provide sufficient...

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