The Hartford Steam Boiler and Inspection Company (HSB), part of Munich Re, one of the world’s largest reinsurers which acquired the company in 2009, has received approval from the Federal Aviation Administration to carry out aerial inspections of premises using unmanned aerial vehicles (UAVs) where personal inspection would be either impractical or dangerous, with the
Lufthansa is currently making strategic moves in an attempt to enable its low-cost carrier, Eurowings, to compete more successfully with such other low-cost carriers as Ryanair and easyJet. Having acquired a 45% stake in Brussels Airlines in 2008 for €65 million (US$73.5 million), it has been revealed that Lufthansa is looking to exercise the three-year
Having accumulated losses in the region of US$3 billion, attempts by Pakistan’s ruling party, under Prime Minister Nawaz Sharif, to offload the cash-strapped national carrier, Pakistan International Airlines (PIA), have finally been shelved. In what has been described as a compromise to appease opposing parties and trade unions, the Pakistani parliament has adopted a law
Embraer and Horizon Air have signed a firm order for 30 E175 jets. The contract also includes options for another 33 aircraft of the same model. The value of the contract, which will be included in Embraer’s 2016 second-quarter backlog, is US$2.8bn, based on current list prices, if all the options are exercised. The deliveries
Having agreed to buy the international luggage and cargo handler Swissport International last July for US$2.8bn, the Chinese conglomerate HNA Group Co., Ltd., headquartered in Haikou, China, has now agreed to buy a second Swiss company, Gategroup Holding AG, the world’s second-largest airline catering company, for US$1.5 billion. The deal reflects a 17% premium on
Senator Charles Schumer’s (Dem) amendment attached to an FAA authorization bill met with a watery grave on Thursday, failing by a vote of 42-54. The amendment would have seen the FAA forced to set a seat minimum size aboard commercial aircraft together with a minimum distance between rows. Diminishing personal space has been the top
Two years after Dublin Airport Authority (DAA) announced the investment of €60m (US$68.4m) on the main runway – called 10/28 – and additional airport infrastructure, news has been released today (Thursday) that a second runway is to be built at an expected cost of €320m (US$365m). Work will begin in 2017, with completion expected by
The fight against terrorism has now seen Canada and the EU agree to share data of airline passengers flying between Canada and the EU. However, this move is being challenged in an EU court on the grounds of breaches in passenger privacy. The intention to share passenger name records (PNRs) has seen the Luxembourg-based Court
Confident that events will not impact heavily on the company, Spirit Aerosystems have confirmed that they will no longer be providing a broad selection of spare parts for Boeing aircraft after having their license cancelled by the US plane manufacturer. Despite such a show of force, shares in Spirit dropped 5%, but the price has
Virgin America has accepted an offer of US$2.6bn (US$57/share) from rival airline, Alaska Air, a figure which, including Virgin America’s debt and aircraft lease obligations, values the transaction at approximately USD$4bn. Virgin America began operating in August 2007 and which was set up by Sir Richard Branson in a similar vein to Virgin Atlantic, a
