Britain’s third largest tour operator faced bankruptcy as a result of soaring fuel costs and the credit crunch. XL Leisure Group Plc, XL Airways UK Limited, Excel Aviation Limited, Explorer House Limited, Aspire Holidays Limited, Freedom Flights Limited, Freedom Flights (Aviation) Limited, The Really Great Holiday Company plc, Medlife Hotels Limited, Travel City Flights Limited,
Alaska Airlines said it is reducing capacity 8% compared to a year ago, effective with its winter schedule starting Nov. 9 and continuing into 2009. The reduction in capacity represents 15% fewer departures. As a result, Alaska Airlines is reducing its work force by 9 to 10%. “The one-two punch of record oil prices and
The Magellan Group released that ACG Investment Capital Partners, a joint venture between the Aviation Capital Group and FB Transportation Capital LLC, has made an investment in the Magellan Group. The additional capital combined with the relationship with two premier firms in the aviation industry will enable Magellan to continue the strong growth achieved since
The Boeing Company has completed its acquisition of Insitu Inc., a pioneer in the unmanned air systems (UAS) market and leader in the design, development and manufacture of high-performance, low-cost UAS used for intelligence, surveillance and reconnaissance. Insitu, located in Bingen, Wash., designs, develops and manufactures UAS for commercial and military applications. This acquisition, first
Airbus presented to ts European Work Council (ECA) the Power8+ programme. It is designed to deliver cost savings of Euro 650 mio. in 2012, adding to the Power8 target of Euro 2.1 bn for 2010. Power8+ will be partly achieved by extending the Power8 initiatives up to 2012 (Euro 350 mio.) and partly by further
Forward Air Solutions successfully completed its acquisition of certain assets of Service Express, Inc. (
Bombardier reported another quarter of strong financial results. Revenues for the second quarter ended July 31, 2008 increased by 22% to reach $4.9 billion. Earnings before financing income, financing expense and income taxes (EBIT) totalled $358 million, compared to an EBIT before special item of $213 million last fiscal year ($280 million before an excess-over-average
Macquarie Global Opportunities Partners (MGOP) has completed the acquisition of the jet membership, retail charter and fuel management business units previously owned by Sentient Jet Holdings, LLC. The businesses are now operating as a standalone company and will retain the Sentient brand. Terms were not disclosed.
Forward Air Corporation reported that its wholly owned subsidiary, Forward Air Solutions, has entered into an agreement to acquire certain assets of Service Express, Inc. Service Express is a privately held provider of pool distribution and related services headquartered in Spartanburg, South Carolina. During the year ended December 31, 2007, Service Express generated approximately $39
Aer Lingus announced its first half results for the 6 months ended 30 June 2008. Operating loss of EUR 3 million, down from operating profit of EUR 2.6 million in 2007. Loss driven by fuel costs which increased by EUR 56.5 million (48.7%). Aer Lingus reported an overall revenue growth of 10.2% to EUR 632.9
