SGS acquires majority stake in ARGUS International

October 1, 2019

SGS, the certification, verification, and inspection company, has acquired a majority stake in ARGUS International. The acquisition aims to strengthen SGS’ aviation auditing and consulting services and increase market penetration through the organizations leveraged synergies. “ARGUS is a globally recognized brand name in the airline, business aviation, fixed-wing, and rotary engine markets. Its broad client

has selected ZestloT to digitise and optimise its aircraft turnaround operations

737 MAX grounding hits flydubai first half 2019 financial results hard

October 1, 2019

Dubai’s state-owned carrier, flydubai, has announced that the continued grounding of the Boeing 737 MAX has put the carrier under unprecedented financial pressure, resulting in a January-to-June loss of US$53.6 million. Prior to the grounding, flydubai had anticipated expanding its current fleet of aircraft to 62, but instead this will only grow to 43 this

China’s Sichuan Dahua acquires Austria’s ‘ArrowCopter’

September 30, 2019

China’s Sichuan Dahua acquires Austria’s ‘ArrowCopter’ Sichuan, Dahua. General Aircraft Manufacturing Company of China has successfully acquired the entire assets of the European gyrocopter company, ArrowCopter. T The transaction was brokered by consultants Aerospace Investments Co. Ltd (UK) and Silk Wings Aviation (Beijing), who are now actively assisting in the completion phase. The deal follows

Aigle Azur, France’s second largest airline, closes down

September 30, 2019

Having ceased all commercial operations and filed for bankruptcy protection earlier this month, leaving 19,000 travelers stranded, Aigle Azur, France’s second-largest carrier, has now closed down. Having immediately been put up for sale, those carriers who expressed interest in Aigle Azur included easyJet and Vueling, while confirmed bids to take over assets were received from

DAE signs new US$300 million 7-year unsecured term loan

September 29, 2019

Dubai Aerospace Enterprise (DAE) has signed a US$300 million 7-year unsecured term loan with a group of six banks. Abu Dhabi Commercial Bank served as Initial Mandated Lead Arranger, Bookrunner and Underwriter. The loan will be used to repay secured debt and support the future financing needs of the business. Firoz Tarapore, Chief Executive Officer

German courts look to protect Condor, the Thomas Cook subsidiary airline

September 26, 2019

With the U.K.s Thomas Cook airline and travel agency now mired in compulsory bankruptcy proceedings, elsewhere the Group’s subsidies are now scrambling to protect themselves from a similar fate. In Germany, a Frankfurt court has instigated investor protection proceedings in a bid to have Condor Flugdienst GmbH (Condor) restructured. Along with Thomas Cook GmbH, Condor

International Airlines Group (IAG) lowers annual guidance

September 26, 2019

British Airways’ parent company International Airlines Group (IAG) has updated its full-year 2019 operating profit guidance. In a press release, IAG stated that during September, BALPA’s (British Airways main pilots’ union) industrial action initially scheduled for the 9, 10 and 27 of the month, led to an initial cancellation of 4,521 flights over a period

Struggling Adria Airways halts flights through cash crisis

September 24, 2019

Slovenia-based Adria Airways has been forced to temporarily suspend operations on all but one of its routes as a consequence of a lack of liquid funds. The announcement comes only a day after the U.K.s Thomas Cook ceased all flights and entered into compulsory liquidation. The carrier will continue to operate between Ljubljana in Slovenia,

Thomas Cook goes bust, ceases all operations – 600,000 travelers still to be repatriated

September 23, 2019

Thomas Cook, the world’s first and oldest travel agent, has gone bust, ceased all operations, and entered into compulsory liquidation early on Monday Morning, U.K. time. The fallout has left over 600,000 travelers across the globe requiring repatriation. In the U.K. alone there are over 150,000 Thomas Cook customers currently on foreign shores. The majority

STS Aviation Group acquires Apple Aviation