28 May 2008

Cathay Pacific takes delivery of first 747-400ERF

Cathay Pacific Airways celebrated the delivery of the airline’s first 747-400ERF (Extended Range Freighter). The airplane is the first of six Boeing 747-400ERFs to be delivered to Cathay Pacific. The airline currently operates 115 airplanes, 18 of which are freighters, including six 747-400BCFs (Boeing Converted Freighters), six 747-400 and six 747-200 Freighters. The airline has […]

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Rolls-Royce and GKN Aerospace announce composite material joint venture

Rolls-Royce has established a joint venture company with GKN Aerospace to carry out research and development into the use of composite materials in aero engine fan blades. As part of its continuous drive to bring innovative products to market, Rolls-Royce is researching key technologies and alternative materials to further enhance the efficiency and environmental performance

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HEICO Corporation announces expanded $300 million credit facility

HEICO Corporation has entered into an amended, senior unsecured revolving credit facility with a banking syndicate led by SunTrust Robinson Humphrey, Inc. and J.P. Morgan Securities, Inc. The amendment increases the revolving credit commitment amount from $130 million to $300 million, which may be increased to $500 million under certain circumstances. The borrowings under the

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ELAL Israel Airlines reports first quarter net loss of $49.9 million

ELAL reported that revenues reached an all-time record, and totaled $471.5 million, compared to $388.6 million in the first quarter last year, an increase of 21%. Gross profits in this quarter totaled $54.9 million, an increase of 12% compared to the parallel quarter last year. Operating loss this quarter totaled $47.4 million, compared to a

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AMR Corporation announces first round of capacity reductions

AMR announced the first round of reductions to its flight schedule as part of its previously announced plans to reduce capacity in an effort to significantly reduce costs and create a more sustainable supply-and-demand balance in the market. The actions come in the face of skyrocketing fuel prices and a softening economy. To effect these

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JetBlue to postpone delivery of 21 Airbus A320 Aircraft

JetBlue Airways plans to defer 21 Airbus A320 aircraft originally scheduled for delivery between 2009 through 2011 to 2014 through 2015. “In the face of escalating fuel costs, we believe it is essential to take a more financially conservative approach to managing our business,” said Dave Barger, JetBlue’s CEO. “The aircraft deferrals will help us

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