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VEB is going to take part in financing deliveries of Sukhoi SuperJet 100 to Mexico

China’s Spring Airlines’ 1H profit climbs 129%

hanghai-based low cost carrier Spring Airlines has reported a net profit of CNY619.5 million ($97 million) for the first half of 2015, up 129% over the CNY270.8 millionfor the same period the previous year. Operating revenue was up 15% to CNY3.95 billion, while operating costs incr...

Russian bank arranges financing for Cuban-bound An-158

Russia’s Roseximbank has signed an agreement with Ilyushin Finance Co. (IFC), a Russian leasing company, to provide $70 million in export financing for Antonov An-158 aircraft for Cubana de Aviación. The agreement, signed at the MAKS Air Show in Moscow, follows a series of...

Stocks in Europe Resume Retreat as Rebound Proves Temporary

Even the best day since 2011 wasn’t enough to reverse fortunes for European stocks, which resumed declines on Wednesday. Investors have dealt with zigzags this week, as European stocks first slid the most since the financial crisis, before rallying yesterday after China cut interest rates. A late-day announcement that Monsanto Co. abandoned efforts to acquire Syngenta AG sent sh...

Greece deal points to flexible approach to bank rescues in EU

European Union rules to shield taxpayers from having to rescue ailing banks should be applied flexibly because of broader economic imperatives highlighted by the latest Greek rescue package, analysts and lawyers say. That flexibility may mean that European taxpayers cannot be given cast-iron guarantees that they will not be called upon again to bail out banks as during the financial crisis....

Estonian Air earned profit in June and July 2015

Estonian Air earned profit in June and July, 200,000 euros in average in both months. Last time the company had profitable summer months was in 2010. “Profitable summer months indicate that the restructuring plan has helped us to establish a solid foundation for long-term sustainability. Active sales in Estonia and destination markets and capacity providing for other airlines have contrib...

VEB and IFC signed a memorandum of cooperation for delivery of Sukhoi SuperJet 100 aircraft to Europe

Vnesheconombank (VEB) and Ilyushin Finance & Co leasing company (IFC) signed a memorandum of cooperation at MAKS-2015 international airshow. The document was signed by the First Deputy Chairman – member of the VEB Management Board, Petr Fradkov, and IFC CEO Alexander Rubtsov. Under the memorandum the parties are going to consider possibilities for financing deliveries of Sukhoi Sup...

Belgium's Take Air unveils ASL Group as new investor

Take Air (Antwerp) has unveiled Belgian aviation firm ASL Group as its new investor and strategic partner. The announcement follows initial partner The Aviation Factory's decision to water down its stake in the European All-You-Can-Fly carrier late last month. As a result of the change, ASL's subsidiaries - ASL airtaxi (Liège) and JetNetherlands (JNL,Amst...

Leasing Groups Announce New Superjet Deals at MAKS Show

Russian government-backed leasing group GTLK formally signed a contract to buy 32 Sukhoi Superjet 100 (SSJ100) aircraft on the first day of Moscow’s MAKS airshow. The deal, which is being underwritten by around $527 million in government funding agreed in July, includes a mix of new and already manufactured aircraft. Russian trade and industry minister Denis Manturov last...

Air New Zealand Announces Record Annual Result

Air New Zealand has today announced its 2015 annual result with normalised earnings[i] before taxation of $496 million for the 2015 financial year, an increase of 49 percent on the prior year. Statutory earnings before taxation were $474 million, while statutory net profit after taxation was $327 million, an increase of 24 percent. Capacity growth supported by strong demand, cost efficiencies a...

CALC Announces 2015 Interim Results

China Aircraft Leasing Group Holdings Limited (“CALC” or the “Company”, stock code: 01848.HK), the largest independent operating aircraft lessor in China, today announced strong financial and operating results of the Company and its subsidiaries (collectively, the “Group”) for the six months ended 30 June 2015. FINANCIAL HIGHLIGHTS The Group’s r...

Avianca Holdings Reports an Adjusted Operating Profit1 of $5.1 Million for the second quarter of 2015

Avianca Holdings S.A. (NYSE: AVH, BVC: PFAVH) presents the following results pertaining to the 2Q 2015. Financial and operational information is provided in millions of US dollars unless stated otherwise. The following information is presented in accordance with International Financial Reporting Standards (IFRS). The reconciliation between IFRS and non-IFRS financial...

Air-Traffic Towers Wasted More Than $850 Million, Watchdog Says

The federal government has wasted more than $850 million over six years by operating inefficient air-traffic control towers, according to a watchdog audit. At a time of fewer flights, the efficiency of the Federal Aviation Administration’s facilities at airports ranging from large hubs to smaller private-plane strips varies widely, the Transportation Department’s Inspector General&n...

Asian shares move off three-year lows while China's suffering goes on

Volatile global markets showed tentative signs of a respite from the recent blood-letting on Tuesday as bargain hunters helped Asian stocks off three-year lows, though share markets in China, epicenter of the rout, suffered another big sell-off. The MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 1.1 percent after an initial dip to three-year lows, paring about...

Air Armenia boss given hiding; EPF warns of withdrawal

Ukrainian-owned investment firm, East Prospect Fund (EPF), has warned its proposed USD68.6 million injection into Air Armenia (QN, Yerevan) is in jeopardy following an assault on airline CEO and majority 51% shareholder Arsen Avetisyan last week. EPF owns a 49% stake in the Armenian carrier. "We are responsible for the implementation of the investment policy of the company,...

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