Air Canada and Chorus Aviation, the parent company of Jazz Aviation (Jazz), finalized their Capacity Purchase Agreement (CPA) this week. Air Canada and Chorus Aviation have confirmed that all conditions have been met, and that the amended and extended CPA can proceed as planned. The improved CPA, retroactive as of January 1, was announced on
Magnetic MRO, a global provider of Total Technical Care for aircraft operators and lessors, issued bonds in total aggregate value of €8 million. The company has submitted an application to Nasdaq Tallinn Stock Exchange Listing & Supervisory Committee for listing the bonds on the multilateral trading facility First North. Capital raised with the bond issue
With current debts of approximately US$1.14 billion resulting mainly from fierce competition, high oil prices and the depreciation of the rupee, India’s Jet Airways has agreed to the majority of terms laid down by Gulf carrier Etihad Airways (Etihad) in a much-needed financial bail-out and company ownership restructuring. Currently, Etihad holds a 24% stake in
IFS the global enterprise applications company, has announced its financial results for the full year ending December 31, 2018. Driven by a double-digit increase in product revenue, net revenue growth soared to 23%, outperforming the projected market growth of 7%. Cloud and SaaS saw a revenue increase of a remarkable 300%. A number of major
Boeing has reported fourth-quarter revenue of US$28.3 billion, GAAP earnings per share of US$5.93 and core earnings per share (non-GAAP) of US$5.48. These results reflect record commercial deliveries, higher defense and services volume and strong performance which outweighed favorable tax impacts recorded in the fourth quarter of 2017. Boeing generated operating cash flow of US$2.9 billion,
ANA HOLDINGS will invest US$95 million in PAL Holdings and acquire 9.5% of PAL Holding’s outstanding shares. PAL Holdings is the parent of Philippine Airlines (PAL), the Philippine flag carrier. ANA HD will acquire the shares from Trustmark Holdings Corporation, which is owned by the Lucio Tan family and is the largest shareholder of PAL
Through a fully underwritten NOK3 billion rights issue, Norwegian Air Shuttle ASA (Norwegian) is looking to change the focus of the company from growth to profitability, thus capitalizing on the market position and scale it has achieved over recent years. The intention now is to reduce capital expenditure through a combination of aircraft divestment, including
Laudamotion has confirmed that Ryanair has completed the purchase of 100% shareholding in Laudamotion in late December. Laudamotion now becomes a 100% subsidiary of Ryanair Holdings. With the support of Ryanair Holdings, Laudamotion announces a series of growth initiatives, which includes: increasing Lauda’s fleet to 25 aircraft in summer ’19 (from 19 in S2018). Lauda
AVIAA, the international group purchasing organization for business aviation, is adding over 150 new aircraft to their membership with the announcement on January 28, that it has reached an agreement with Europe’s smart purchasing business Convolus to merge their operations. The move will see AVIAA widen its footprint in Europe with the establishment of an
Alaska Air Group has reported fourth quarter 2018 GAAP net income of US$23 million, compared to US$315 million in 2017. Excluding the impact of merger-related costs, other special items, and mark-to-market fuel hedge adjustments, the company reported fourth quarter adjusted net income of US$93 million, compared to adjusted net income of US$88 million in the
