ACE Aviation Holdings released the final results of its offer to purchase Cdn$1.5 billion of its Class A Variable Voting Shares and Class B Voting Shares, which expired at 5:00 p.m. (Montreal time) on January 10, 2008. Based on final reports from CIBC Mellon Trust Company, the depositary under the offer, ACE confirmed that it
Continental Airlines has contributed $60 million in cash to its defined benefit pension plans. Continental contributed $336 million to its pension plans in 2007, significantly exceeding its minimum funding requirement for the calendar year.
Shareholders of China Eastern Airlines reportedly rejected a bid by Singapore Airlines to acquire a 24% stake in the company for HK$3.80 per share, stating the offer price was too low.
Pinnacle Airlines Corp. has purchased its Class A Preferred Share from Northwest Airlines Corp. at a purchase price of $20 million. The purchase is in accordance with the Airline Service Agreement between Pinnacle and Northwest agreed to a year ago. “This is the last step in the process of becoming independent that began with our
TAM signed a loan agreement with the BNP Paribas bank to finance up to $ 117.1 million in pre-delivery payment (PDP) operations for 30 Airbus aircraft contracted with the French company, with confirmed purchase orders and deliveries scheduled for the period 2008 to 2010. TAM’s fleet plan forecasts that it will close 2008 with 123
ABX Holdings, Inc., successor to ABX Air, Inc. has completed its previously announced (November 2, 2007) holding company reorganization and plan to acquire Cargo Holdings International (CHI), a privately held provider of outsourced air cargo services based in Orlando, Fla., for $332 million in cash and common shares of ABX Holdings, its newly formed parent
Panta Holdings B.V., owner of VLM Airlines, has reached an agreement on terms for the sale of VLM Airlines to Air France-KLM. VLM Airlines is one of Europe’s leading regional carriers catering principally for business travellers. The company operates a fleet of 18 Fokker 50 and one BAE 146. London City Airport is the hub
Transat A.T. Inc. announced the final results of its offer to purchase for cancellation up to $125 million of its Class A Variable Voting Shares and Class B Voting Shares. Based on final reports from CIBC Mellon Trust Company on the response to its offer to purchase, Transat takes up 1,780,797 Class A Variable Voting
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.
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
