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Deutsche Bank CEO to shy away from 'big bang' reform at board summit

John Cryan, Deutsche Bank’s new chief executive, will not present “big bang” reforms at a weekend supervisory board retreat, rather an acceleration of existing plans to shed assets and exit countries. The group’s 19-member top oversight body began a three-day meeting...

Oil slides as Goldman Sachs cuts price forecast

Crude futures fell on Friday after Wall Street's most influential voice in oil trading, Goldman Sachs, slashed its price outlook through next year, citing oversupply and concerns about China's economy. Joining Germany's Commerzbank and a long list of other banks in cutting price proje...


Sino-US signs contract for three more AW119KX helicopters

Finmeccanica-AgustaWestland announced today that Sino-US Intercontinental signed a contract for three AW119Kx single engine helicopters, further expanding the presence of AgustaWestland helicopters in the Chinese civil market. The three helicopters are expected to be delivered within 2015. Sino-US Intercontinental acts as an official non-exclusive distributor for AgustaWestland civil helicopter...

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 Airbus with an extra 30 per cent air transport capacity.   “We look forward to the...

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 Company (XTI) is pioneering the first use of crowdfunding for commercial airplane development, and at...

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...

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ST Engineering joins list of Skyports investors with USD 3.13M in final close of Series B

Skyports has completed the final close of its Series B capital raise with fresh investment from ST Engineering through its Corporate Venture Capital unit, ST Engineering Ventures. ST Enginee...

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Sevenair Group announces the closing of 2021 fiscal year with substantial growth

Sevenair Group announced oficial financial results of 2021 which registered an increase of 37% of revenue and an EBITDA increase of 263%. “2021 was a year where all industries were still...

Archer received $10 million pre-delivery payment from United Airlines for 100 eVTOL aircraft

Archer Aviation has received a $10 million pre-delivery payment from United Airlines for 100 of the company’s initial production eVTOL aircraft. The payment represents a watershed moment for the...

Horizon Aircraft & Astro Aerospace - binding agreement for reprivatization

Horizon Aircraft Inc. has entered into a binding agreement with its parent company, Astro Aerospace Ltd and several of Astro’s key shareholders whereby Astro has agreed to sell 100% of...

Agility completes £763 Million acquisition of Menzies Aviation, creating world largest aviation services provider

 Agility has finalized its acquisition of UK-based John Menzies PLC and will combine the business with its National Aviation Services business to create a world leader in...