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
dba, Germany will carry in 2005 40 percent more passengers than in 2004. The airline expects 2.21 million passenger in 2005. The intended capacity increase of 30% will create 500 new jobs over the next years.
Delta Air Lines pilots ratified an interim agreement that provides for a 14 percent hourly wage reduction and reductions in other pilot pay and cost items equivalent to approximately an additional 1 percent in pilot pay. The interim agreement will result in pilot cost reductions of approximately $143 million on an annualized basis. The agreement
Gulf Air and Standard Chartered Bank (SCB) have finalized the terms for the provision of a three-year syndicated term loan facility of USD 75 million that will be used to finance ongoing investment and growth in 2006. The deal will be signed in early January.
Malaysia Airlines will introduce a rigorous and disciplined cash management programme to stop and reduce the cash-burn rate of the company, both in terms of operating cost and also capital expenditure. It also seeks avenues to secure immediate short-term cash injection and financing, including sale of assets. MAS is currently in discussion with the Government
Northwest Airlines reported a net loss of $129 million and an operating loss of $64 million for November 2005.
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.
