Gulf Air and Standard Chartered Bank (SCB) have finalized the terms for the provision of a three-year syndicated term loan facility of USD 75 million that will be used to finance ongoing investment and growth in 2006. The deal will be signed in early January.
Gulf Air signs $75 million loan agreement Read More »
Malaysia Airlines will introduce a rigorous and disciplined cash management programme to stop and reduce the cash-burn rate of the company, both in terms of operating cost and also capital expenditure. It also seeks avenues to secure immediate short-term cash injection and financing, including sale of assets. MAS is currently in discussion with the Government
MAS is seaking short-term cash injection Read More »
Northwest Airlines reported a net loss of $129 million and an operating loss of $64 million for November 2005.
Northwest looses $129 million in November Read More »
Northwest Airlines mechanics rejected the recent contract proposal and will continue strike. The strike began in August 2005 and Northwest was able to continue flying by hiring temporary workers.
Northwest mechanics reject contract Read More »
The BTS reported for the third quarter 2005, that the domestic U.S. passenger airline industry operating margin, represented by 21 selected carriers, declined from a 0.4% profit margin in the second quarter of 2005 to a 2.0% loss margin in the third quarter. The seven largest regional airlines and the seven largest low-cost carriers each
U.S. domestic airline industry generated losses in third quarter Read More »
UAL Corporation reported that all the classes of creditors voting on its Plan of Reorganization have accepted the Plan.
Creditors approve UAL restructuring plan Read More »
World Airways said that the National Mediation Board (NMB) has released the company and its pilots, represented by the International Brotherhood of Teamsters (IBT), from the mediation process that began in January 2004. The NMB issued notice of the release Dec. 28, 2005, initiating a 30-day cooling-off period before either party can engage in self-help.
World Airways pilot union rejects final offer Read More »
Atlas Air Worldwide Holdings, Inc. reported preliminary system statistics and traffic results for November 2005 and for the 11-month period ended November 30, 2005. Total block-hour activity during November decreased 8.8% compared with the same month in 2004, while the average number of aircraft operated remained constant. Block hours operated in the ACMI segment decreased
Atlas Air Traffic declines by 8.8% in November Read More »
Icelandair carried 94.322 passengers in November, an increase of 15,3% from November 2004. The capacity (ASK) in November increased by 3,2% compared to the same month last year and sales (RPK) increased by 14,7%, resulting in passenger load factor of 74,6%, up by 7,4 percentage points from last year.
Icelandair traffic increased Read More »
The Association of European Airlines reported a traffic growth of 8.6% in November 2005 while capacity increased by 4.8%; resulting in a load factor of 73.7%. Continued high growth of 13.6% was reported for the Far Eastern market, an above-average increase of 9.5% in cross-border Europe, and 4.1% for the North Atlantic market.
Euopean Airlines reported 8.6% traffic increase Read More »
