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ASL Aviation Group Signs Conditional Agreement To Acquire TNT Airline Operations

airBaltic Investor Agreement Signed

Riga. Yesterday an agreement was signed between the Latvian government and Ralf-Dieter Montag-Girmes. Under the deal, a total of EUR 132 million of fresh capital will be invested in the Latvian carrier for fleet modernisation and its new Horizon 2021 business plan. Ralf-Dieter Montag-Gi...

Finland: record high support in 2015 and EUR 230m loan for Helsinki Airport expansion

In 2015 the European Investment Bank (EIB), the EU’s long-term lending institution, fostered projects in Finland with loans totalling EUR 1.62bn – this is an all-time record high EIB commitment in Finland. Today, the EIB provided a EUR 230m loan to...

Bombardier plans reverse stock split as shares dive: sources

Canadian plane and train maker Bombardier Inc, whose stock has hit its lowest level in 25 years, will soon announce plans for a reverse stock split, two sources familiar with the matter said, in order to remain a part of Canada's benchmark stock index. The sources, who are not authorized to publicly discuss the plans, said Bombardier's board of directors had already approved the plan be...

Virgin posts second quarter profit

Virgin Australia says improving yield and revenue growth in the key domestic market has led to a strong rise in second quarter profit. The company said on Thursday statutory net profit for the three months to December 31 2015 came in at $60.8 million, a significant increase from $11.3 million in the prior corresponding period. The result was Virgin’s second consecutive quarterly profit...

Emirates brand value grows 17% to reach US$7.7 billion

Emirates has come out on top again as the world's most valuable airline brand, according to the 2016 Brand Finance Global 500 report, which was released yesterday. The airline’s brand value grew 17% over last year to reach US$ 7.7 billion. For the fifth year running, the airline has steadily risen up in the global ranking of the world’s top brands to be placed at #171, 47 places...

Passengers Evacuated After Bomb Threat On TAP Flight

A bomb threat on a plane preparing to leave Faro airport in Portugal's southern region of Algarve for Lisbon forced the evacuation of 38 passengers early on Tuesday, a spokesman for TAP said. "There was a bomb threat and the plane was handed over to the authorities for inspection. The passengers have been removed," he said, declining to provide details on how the threat had been d...

Boeing Capital Upbeat on Market Growth

Boeing Capital projects that airlines and lessors generally will encounter few problems acquiring aircraft financing this year. It describes the market as healthy as order books remain strong, industry growth continues to outstripGDP and airlines continue to turn more profits than they have in decades, all the while low fuel prices offset the effects on economies of the commodities crisi...

Russia's Yakutia Airlines secures $10.5mn in state subsidies

Yakutia Airlines will receive 800 million roubles (USD10.57 million) in state subsidies from the government of the Sakha Republic (Yakutia) to cover its leasing costs for this year. CEO Olga Fedorova told Russia's TASS news agency that the airline's financial health is a key concern for both management and government. In line with plans to increase its share capital and attract a str...

IAG: Completion of share buy-back programme

In relation to the share buy-back programme (the “Buy-back Programme”) pursuant to the announcement made on 30 June 2015, following the purchase made on 29 January 2016,INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A. (“IAG” or the “Company”) has concluded this Buy-back Programme in accordance with its terms. Under this Buy-back Programme, the C...

Ryanair Reports Q3 Profit Of €103M, Up €54M

Ryanair, Europe’s favourite airline, today (Feb 1) announced Q3 profits of €103m, a 110% increase on prior year. Traffic grew 20% to 25m as ave. fares fell 1% to €40 (load factors rose 5% points to 93%) while unit costs fell by 5% (ex-fuel down 1%). Ryanair’s CEO, Michael O’Leary, said: “We are pleased to report that our low fares policy delivered stron...

Iran to buy 40 ATR planes: vice minister

Iran expects to finalise within days a deal to buy up to 40 planes from ATR, the European manufacturer of turboprop aircraft, a deputy transport minister said Saturday. “We discussed the deals in Italy and France and ATR officials are expected in Tehran in the coming days to complete the agreement,” Asghar Fakhrieh Kashan said. “There will be 20 firm and 20 optional orders,...

American Airlines Claims It Earned More in 2015 Than Any Carrier in History

American Airlines reported a record profit for the fourth quarter and all of 2015 as a sharp drop in fuel prices more than offset lower revenue. The world’s biggest airline said Friday that its earnings were the highest ever for any carrier. American Airlines Group Inc. posted net income of $3.28 billion in the fourth quarter, but the results were inflated by a huge accounting gain fro...

Key facts about Iran’s economy as red carpets replace sanctions

The $400 billion economy is the second-largest in the Middle East after Saudi Arabia. Less than a fortnight after a decade of crippling economic sanctions on Iran ended, President Hassan Rouhani is being treated to red carpets, dinners with top CEOs and billion-dollar deals in Europe. In Italy, accords worth $22 billion covered industries from natural gas to high-speed rail, while in France...

Honeywell Matches Profit Estimate as Aerospace Sales Rise

Honeywell International Inc. posted profit that matched analysts’ estimates as aerospace sales increased, bolstered by deliveries of jet engines, and overall margins expanded amid cost cuts. Earnings excluding pension adjustments increased to $1.58 a share, the maker of thermostats and factory-automation software said in a statement Friday. Sales, hurt by lower demand for oil-and-gas equi...

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Top of the week

Samson Sky secures $80 million to launch switchblade flying car production

Samson Sky, developer of the Switchblade Flying Car, announced it has secured an $80 million investment from Dubai‑based Matin Group. According to Sam Bousfield, CEO, Founder...

Kepplair Evolution accelerates its growth with a new €6 million funding round, bringing the total funding raised to €17.5 million

Kepplair Evolution, just days after completing the first pre‑modification flights of its prototype aircraft, has announced the closing of a new €6 million funding round — bringing total fin...