Only weeks after TUI had said that negotiations with Etihad to create an airline specifically targeting the leisure-focused budget airline sector of the German, Austrian and Swiss markets, the Gulf carrier has walked away from the deal. The proposal involved Niki, a subsidiary of partly Etihad-owned Air Berlin, and TUI fly, a subsidiary of the
SOCOMORE and the owners of ELIXAIR have signed an agreement under which Socomore acquires the company and signs an exclusive worldwide license for the commercialization of composite plastic scrapers that allow easy removal of adhesives and cured sealant residues. Along with the Skywipes, the Skyscrapers line of products are complementary to SOCOMORE pre-saturated wipes for
Safran Ceramics, along with co-shareholder Mitsubishi Chemical Corporation, have started exclusive discussions with Hexcel to sell all shares and voting rights in the company Structil, jointly owned by Safran Ceramics (80.05%) and Mitsubishi Chemical Corporation (19.95%). Structil become part of Safran when the latter acquired SNPE’s energetic materials business in 2011. Structil designs, produces and
The International Air Transport Association (IATA) revised its 2017 industry profitability outlook upwards. Airlines are expected to report a US$31.4bn profit (up from the previously forecast US$29.8bn) on revenues of US$743bn (up from the previously forecast US$736bn). “This will be another solid year of performance for the airline industry. Demand for both the cargo and
AviaAM Leasing, a Warsaw Stock Exchange listed aircraft leasing company, has reported its financial results of 2016 recording significant increase in business volumes – company’s revenue tripled to €80,8m, operating profit jumped by 75% from €13,9m in 2015 to €23,1m in 2016. Net profit grew from €9,1m to €16,1m. The company’s rapid growth was largely
Avia Solutions Group, an international, publicly traded aviation holding company with over 20 subsidiaries worldwide, has recorded €306m revenue in 2016, a 33% increase from the 2015. Group’s net profit more than doubled to €8,1m. The growth of the Group’s operations was largely driven by its increasing presence in the Asian aviation market as well
Air Transport Services Group has announced that one of its existing stockholders (the “selling stockholder”) intends to offer for sale 3,806,374 shares of the Company’s common stock in an underwritten secondary offering pursuant to the Company’s automatic shelf registration statement filed June 1, with the Securities and Exchange Commission, of which ATSG intends to repurchase
Safran has completed the sale of its identity and security activities to Advent International for €2.4 bn. As announced on September 29, 2016, the transaction will result in a pre-tax capital gain to be recorded in Safran’s first-half 2017 accounts. The identity and security activities had been classified as “discontinued” in Safran’s 2016 accounts. Safran’s
Ryanair has posted a 6% increase in full year net profit to €1.316bn. The combination of a 13% cut in average fares, coupled with Year 3 of the “Always Getting Better” (AGB) programme delivered 13% traffic growth to 120m customers, and a load factor of 94%. Unit costs fell by 11% (ex-fuel down 5%). Ryanair’s
Singapore Technologies Aerospace (ST Aerospace), through its subsidiary ST Aerospace Engines (STA Engines), has injected its proportional share amounting to US$3.5m (S$4.89m) into the capital of its 50%-jointly controlled company, Total Engine Asset Management (TEAM). This injection will support the expansion of ST Aerospace’s engine leasing business, bringing its total investments to US$15.02m (S$20.97m). TEAM
