Monarch reported the biggest investment in its 48 year history, a £165 million investment from its majority shareholder, Greybull Capital. As a result of this investment Monarch has successfully renewed its ATOL licences from the CAA for the next 12 months and funded future growth plans. In October 2014, Monarch announced an order for 30
As part of the China’s economic drive to invest in overseas businesses, the Everbright Group, a state-backed finance firm, has acquired all the shares of Tirana International Airport (TIA) which operates the country’s principal airport, also known as Rinas International Airport. The purchase price has not been disclosed, but it has been known that the
Istanbul-based Turkish Airlines has announced that it intends to defer 39 of its on-order narrow-body jets, citing the impact of terrorist attacks on leisure travel and the fall in oil prices negatively affecting corporate travel in the oil and gas sector. While the Star Alliance member-airline has not given plane-specific details, it is understood that
Citing such external influences as terrorist attacks, Brexit and the weakening pound, easyJet, the low-cost UK-based carrier has forecast a £490-£495 million pre-tax profit for the carrier’s tax year ending September 30. This figure is down 29% on the last financial year’s profit of $686 million. According to the airline: “EasyJet has performed strongly in
Luton, UK-based Monarch Airlines, which was established in 1968, has recently been facing financial problems which threatened continuation of its ATOL (Air Travel Operator’s License) agreement. That license grants passengers financial protection so that if an airline goes into liquidation while they are abroad they are not left stranded. The airline has now announced that
Japan’s first home built airplane for fifty years and its first jet, the MRJ90, successfully completed its ferry flight and landed at Grant County International Airport, Washington at 5.44 local time, Wednesday September 28. The jet left Japan’s Nagoya Airfield 1.28pm local time on Monday September 26, stopping at New Chitose Airport, Sapporo in Japan,
On Wednesday this week, Air Berlin PLC & Co., (airberlin) Germany’s second-largest airline, announced radical changes to the company structure with the intention of delivering long-term growth. Airberlin now intends to focus core operations as a network carrier from its two main hubs, Berlin and Dusseldorf, in Germany. The leisure flight section of the business
With 2015 seeing a continued increase in the number of incidents of unruly passengers reported to the International Air Transport Association (IATA), its president, Alexandre de Juniac has called for a collaborate effort to reduce the problem. In 2014 there were 9,316 incidents (1 per 1,282 flights), while in 2015 incidents increased to 10,854 (1
On the sidelines of the 2016 International Astronautical Congress being held in Guadalajara, Mexico, S7 Group, which is Russia’s largest private aviation holding company, signed an agreement to purchase the assets of the Sea Launch complex. The deal includes the acquisition of the Sea Launch Commander vessel and the Odyssey Launch Platform, along with launch
In an attempt to accommodate Emirates growing fleet of Airbus 380s, Dubai Airports has agreed to increase the current three A380 gates on Concourse C to thirteen. This improvement means Dubai’s airport will be able to handle more A380s than any other worldwide, with an overall total of 47 gates airport-wide. With the merging of
