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Rolls Royce Trent 700 selected for Airbus Beluga XL

Rolls Royce Trent 700 engines and long-term TotalCare engine support have been selected for the five new Airbus Beluga XL Transporter. The new range will replace the existing Airbus Beluga fleet, and use the $700 million engines.  The Beluga XL was launched last November, and will provide...

TriFan 600 Takes Off as Crowdfunding Soars to $4 Million

In just two weeks, equity crowdfunders have reserved shares for more than $4 million viastartengine.com/startup/xti to support development of an airplane with the speed, range, and comfort of a business jet and the ability to take off and land like a helicopter. XTI Aircraft C...


Oman Air and Air Lease Corporation Announce New Lease Agreements

Today Oman Air and Air Lease Corporation (NYSE: AL) announced long term lease agreements for 14 jet aircraft. The lease agreements cover three new Boeing 737-800s, seven new Boeing 737-8MAXs, and one new Boeing 787-9, all from ALC’s order book with Boeing. This transaction also includes one used Boeing 737-700 (MSN 33103) and two used Boeing 737-800 aircraft (MSNs 33104 and 34242). The...

TUI Group continues profitable growth in Q3 2014/15

TUI Group has concluded the third quarter of financial year 2014/15 delivering earnings and turnover growth. However, the period under review was overshadowed by the terrible attack in Tunisia at the end of June. Supporting the families of the victims, customers and its employees remains the highest priority of the Group. In the three months from April to June 2015, the Group improved its...

China's CEFC adds to Czech buying spree with airline, brewery deals

China's sixth largest private company CEFC added to a weeklong buying spree in the Czech Republic on Saturday, announcing deals to buy a majority stake in a top brewery group and a share in an airline company in the central European country. The Czechs have sought more investment ties with the world's second largest economy. This week President Milos Zeman was the only Western leader to...

Los Angeles drops mortgage discrimination case against JPMorgan

Los Angeles has dropped a lawsuit accusing JPMorgan Chase (JPM.N), the largest U.S. bank, of discriminatory mortgage lending, ending the first of the city's four lawsuits accusing major banks of driving up foreclosures among minority borrowers. Disclosed in a filing on Tuesday in a California federal court, the agreement ends a lawsuit attempting to hold the bank liable for lost property ta...

Unit of China's HNA to buy Avolon Holdings for $2.5 billion

Irish aircraft leasing firm Avolon Holdings Ltd (AVOL.N) said it agreed to be acquired for about $2.5 billion by Bohai Leasing Co Ltd (000415.SZ), a unit of Chinese aviation and shipping conglomerate HNA Group. Avolon shareholders will receive $31 per share in cash, which is lower than the $32 per share the companies were discussing in exclusive talks in August. Avolon said the lower price was...

PrivatAir unit acquires 30% stake in Saudia Private Aviation

PrivatAir Saudi Arabia, the Saudi subsidiary of PrivatAir (Switzerland) (PV, Geneva), has acquired a 30% stake in Saudia Private Aviation (SVA, Jeddah). The value of the transaction, which closed in July, was not disclosed. Saudi Private Aviation is the the VIP charter subsidiary of Saudia (SV, Jeddah) offering a fleet of private jets for ad-hoc char...

Juneyao Airlines nearly triples net profit in 1H

Juneyao Airlines reported a 2015 first-half net profit of CNY517.7 million ($84.5 million, nearly tripled from a net income of CNY195.3 million in the year-ago period. First-half operating revenue jumped 20.4% to CNY3.84 billion against a 5.53% increase in operating expenses to CNY2.78 billion. Juneyao’s operating revenue on international routes climbed 112.7% to CNY649.08 million....

EIB confirms GBP 280 million support for Rolls-Royce during visit to Derby

The European Investment Bank (EIB), has officially agreed to support the research and development of Rolls-Royce aero engines through a GBP 280 million long-term loan. This loan is the largest ever given by Europe’s long-term lending institution to Rolls-Royce for investment in research and development. The EIB-backed loan supports the development of the higher thrust version...

Inovent Capital and Canada Jetlines Reach Settlement

Inovent Capital Inc. (TSXV: IVQ.P) (“Inovent”) and Canada Jetlines Ltd. (“Jetlines”) are pleased to announce a settlement of the outstanding litigation between them, first disclosed by Inovent in its news release of March 12, 2015. Under the terms of the settlement, Jetlines has paid Inovent $25,000 and is required to pay a further $80,000 by September 30, 2015. In...

SkyGreece Airlines to file for bankruptcy protection and reorganization

SkyGreece Airlines (Athens) was a short-lived airline with interests in both Greece and Canada. The airline started operations on June 22, 2014 and abruptly ended all operations last month stranding passengers, especially in Canada. The company has issued this statement about its intention to file for bankruptcy protection in Canada: SkyGreece Airlines, S.A. on September 3 announced th...

Bohai Leasing agrees to acquire Avolon for US$31 cash per share

Avolon (NYSE: AVOL), the international aircraft leasing company, announces that today it has entered into a definitive merger agreement (the “Merger Agreement”) to be acquired by Bohai Leasing Co., Ltd. (SZSE: 000415) (“Bohai”) at a price of US$31 cash per common share (the “Transaction”). Under the terms of the Transaction, which has been unanimously ap...

Jet2.com announces significant investment in additional aircraft

The North’s leading leisure airline, Jet2.com, today announced the acquisition of 27 new aircraft from Boeing. The Next Generation 737-800s will be delivered over a two year period to 2018 and will be used to take package holiday and flight only customers to a range of exciting destinations across mainland Europe, the Mediterranean and the Canary Islands, as well as a host of beautiful city...

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WAI Endowment Fund Will Increase Scholarships & Youth Outreach Programs

A generous $50,000 gift from The Boeing Company, in addition to several donations from individual WAI members, during the recent 30th Annual International Women in Aviation Conference in Long Beach, C...

All Airbus AGM resolutions approved, Guillaume Faury is the new CEO

All resolutions passed by Airbus SE shareholders at its 2019 Annual General Meeting. Guillaume Faury appointed as an Executive Member of the Board of Directors for three years...

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

The United States on Tuesday launched a challenge to Chinese tax exemptions for locally produced aircraft, saying they discriminated against imported planes. The request for consultations with Chin...

Moody’s downgrades France’s govt. bond ratings to Aa2

Moody’s on Friday downgraded France's government bond ratings by one notch to Aa2 from Aa1; the outlook on the ratings is stable, the international ratings agency said in a statement. Moo...

AEGEAN: First Half 2015 Financial Results

AEGEAN announces first half 2015 results with consolidated revenue at €403.6m, 4% higher versus 2014. Total number of passengers carried rose by 15% to 5m as the company invested in new flee...

Airlines rake in $5.5 billion, most profitable quarter since 2007

Lower fuel costs and steady travel demand continue to boost the nation's airlines, which enjoyed the most profita blequarter since 2007. Commercial airlines reported net income of $5.5 bil...

AVIC Aircraft Forecasts 116-140 Million Yuan Loss for First Three Quarters

AVIC Aircraft Company Limited expects to suffer a loss of up to 61.67 million yuan in the third quarter, compared with the net profit of 123.34 million yuan in the same period last year, the Chin...