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U.S. Challenges China's Tax Exemptions for Aircraft at WTO

Ernst and Young forensics tables report on South African Airways procurement investigation

This week Ernst and Young forensics tabled with the SAA Board, its draft report in respect of the procurement investigation at SAA. This report is the first of a number of investigations that will examine specific areas of the business that will identify reasons for the company&rsq...

Paris attacks cost Air France-KLM €50m in lost revenue

Air France-KLM has said that the Paris attacks, in which 130 people were killed, led to a €50m ($54m; £36m) drop in revenues as trips were cancelled. However, the airline group said it expected the effect to have largely worn off by the end of December. The group said the attacks &q...

Hainan Airlines Cuts Fundraising Plan

Hainan Airlines (HU) announced Monday night to adjust its private placement released earlier in April, cutting the upper limit of the total funds from 24 billion yuan to 16.6 billion yuan. The Haikou-based carrier now plans to sell as many as 4.62 billion shares to raise 16.55 billion yuan in a private placement, down from the 24 billion yuan previously announced, the company said in a fil...

Air Zimbabwe protected from creditors until 2018

Air Zimbabwe has been protected from creditors for the next three years by the Zimbabwean parliament. The heavily indebted carrier has had its assets protected by the Air Zimbabwe Corporation (Repeal) Act, which has been amended to include provisions State Liabilities Act.   The carrier has been given until July 3 2018 to settle its debts with creditors.   Its sole share...

Jazeera Airways finalises voluntary capital reduction

Jazeera Airways has finalised its voluntary capital reduction process to bring down its capital from KD42 million to KD20 million to match the size of its current operations after it exited the aircraft leasing business. As part of the process, the company will issue cash payouts worth a total KD32.7 million starting Sunday, December 13, 2015.  The KD32.7 million cash payouts include:...

EBRD finances Air Astana’s technical maintenance centre

The EBRD is supporting the growth programme of Kazakhstan’s national airline, Air Astana, with a loan of up to US$ 14 million equivalent in Kazakh tenge. The loan will finance the construction of the first aircraft maintenance facility in the country, and in the entire Central Asian region, capable of serving large aircraft. The technical maintenance centre will be located at As...

Li Ka-Shing's CKI in the Running in US$3 Billion London City Airport Sale

Hong Kong tycoon Li Ka-Shing's Cheung Kong Infrastructure Holdings (CKI) is among the companies that have placed indicative offers for London City Airport, which has been put up for sale by U.S. owner Global Infrastructure Partners, sources familiar with the matter said. The remaining bidders include Italian infrastructure group Atlantia and three consortia, one of which is led by Macquarie...

Finnair to sell its facilities at Helsinki Airport to Finavia

Finnair’s strategic objective is to double its Asian traffic by 2020 from the level of 2010. To enable its growth, Finnair has ordered 19 new Airbus A350 XWB aircraft, which also increase Finnair’s cargo capacity considerably. With a view to the growth of its cargo traffic, Finnair is constructing a new state-of-the-art cargo terminal to be completed in 2017. At the same time, Finavia,...

Solar Plane Raises EUR$20 Million to Resume Record Round-the-World Trip

The Swiss solar-powered plane whose record-setting, round-the-world flight was put on hold in July by weather and battery trouble has raised the EUR$20 million it needs to finish the trip, co-founder and pilot Andre Borschberg said on Monday. Borschberg, at the United Nations' Paris climate summit with co-pilot Bertrand Piccard, said backers that include chemical maker Solvay, Swiss lift ma...

Aeroflot Announces 9M 2015 IFRS Financial Results

 Aeroflot Group («the Group», Moscow Exchange ticker: AFLT) today published its consolidated interim financial statements for the nine months ended 30 September 2015, in accordance with International Financial Reporting Standards. 9M 2015 Operating and Financial Highlights for Aeroflot Group: • Group passenger traffic increased by 13.3% year-on-year,...

CALC Delivers Second of Six Airbus A320 Aircraft to China Eastern Airlines

China Aircraft Leasing Group Holdings Limited ("CALC" or the "Group), the largest independent aircraft operating lessor in China, completed the delivery of the second of six A320 aircraft to China Eastern Airlines Corporation Limited ("China Eastern Airlines" or "CEA") at the facilities of Airbus in Toulouse, France on November 27, 2015, marking the 59t...

Airline Stocks Soar As Lower Oil Prices Bring Down Fares

Stocks of aviation companies are having a dream run on the bourses with lower fuel prices providing the perfect takeoff for the beleaguered sector. The SpiceJet scrip has surged six-and-a-half times since hitting its 52-week low of 11.5 rupees in December last year. The stock hit its 52-week high of 72.5 rupees on November 24. The budget carrier, promoted by Ajay Singh, has zoomed more than fou...

Aeroflot to sell 6 A321 to AviaAM Leasing

On November 26, the Board of Directors of PJSC Aeroflot - Russian Airlines approved the sale of 6 Airbus A321-200 airliners to AviaAM Leasing AB, the company informed. Besides, the Board of Directors approved the 2016 operational results targets for Aeroflot Group. It is envisaged that this will include a regional carrier operating under the Rossiya brand and comprising the Rossiya, Donavia and...

Meggitt completes acquisition of advanced composites businesses

Meggitt completes acquisition of the advanced composites businesses of Cobham plc. Further to the announcement made on 10 August 2015, Meggitt confirms that the acquisition of the advanced composites businesses of Cobham plc (Cobham Advanced Composites Limited, Compass Composites Products Inc and certain assets of Cobham Advanced Electronic Solutions Inc) for $US 200 million in cash has now rec...

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AerCap orders 100 additional Airbus A320neo family aircraft

AerCap has signed a firm order with  Airbus for 23 A320neo and 77 A321neo aircraft. This transaction underscores AirCap’s strategy of investing in the world's most in-demand, fuel-effic...

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MTU Maintenance Lease Services invests in TRecs to digitalise engine transition management

MTU Maintenance Lease Services, the engine leasing and asset management arm of MTU Maintenance, announced a strategic minority investment in TRecs . TRecs is a platform digitalising Open Ite...

WingsLeasing signs dry lease agreement with University of Nebraska-Kearney flight school

WingsLeasing announced the signing of a dry lease agreement of seven Tecnam P-MENTOR aircraft for the University of Nebraska-Kearney flight training program, marking a significant step forward in resh...

Emirates breaks ground on US$ 5.1 billion ultra-modern engineering facility at Dubai South

Emirates has broken ground on its new US$ 5.1 billion engineering complex at Dubai South slated to become the world’s most modern and advanced MRO facility, cementing Emirates' and Duba...

AURA AERO scales up: Series B completed, first firm orders, and two industrial sites to be built in France and the U.S.

AURA AERO is entering a new phase. Thanks to a new €50 million funding round, grants secured in France and Europe, and financial support from the State of Florida for its U.S. plant, AURA AERO ha...

AerCap orders 100 additional Airbus A320neo family aircraft

AerCap has signed a firm order with  Airbus for 23 A320neo and 77 A321neo aircraft. This transaction underscores AirCap’s strategy of investing in the world's most in-demand, fuel-effic...

Aviation Capital Group orders 50 Boeing 737 MAX aircraft

Boeing and Aviation Capital Group LLC announced the airplane lessor has placed a new order for 50 737 MAX jets, including 25 737-8 and 25 737-10 airplanes. The acquisition of 50 additional jets i...

TrueNoord places firm order for 20 Embraer E195-E2 aircraft and secures purchase rights for up to 30 additional jets

TrueNoord has signed a firm order agreement with Embraer to acquire twenty factory-new E195-E2 aircraft. The agreement also includes purchase rights for up to twenty additional new E195-E2 aircra...