Almost a year ago to the day when the winter storm labelled Juno, described as “the worst snowstorm in history”, shut down massive tracts of the USA, today has seen an impending Mid-Atlantic snowstorm see thousands of flights cancelled in advance of the anticipated weekend weather. According to the US National Weather Service, the storm
Boeing announced it will lower the production rate on the 747-8 program to match supply with near-term demand in the cargo market. To account for the market and production impacts, the company will recognize a US$569m after-tax charge when it announces financial results for the fourth quarter of 2015. “Global air passenger traffic growth and
It was announced on Wednesday of this week that Europe’s five principal airline groups, IAG (British Airways & Iberia), Lufthansa, Air France-KLM, easyJet and Ryanair have formed an alliance which will go under the name A4E (Airlines for Europe). The launch at Amsterdam’s Schiphol airport was timed to coincide with today’s EU Aviation Summit which
Gulf Air decided to convert its 16 Boeing 787-8 Dreamliners on order to 787-9s as part of its long-term, twin-aisle fleet strategy and expansion. The value of the airplanes is US$4.2bn at current list prices. “I am delighted that we have arrived at mutually agreeable solutions with Boeing and can now successfully restructure our order
Four new long-haul planes will expand Condor’s and Thomas Cook Airlines UK’s fleet from May 2016. Three Boeing 767-300ERs will be added to Condor’s current 13 airplanes of this type. Thomas Cook Airlines UK is also counting on a reliable model with an additional Airbus A330-200: This new arrival is the seventh A330. The first
As part of its fleet renewal strategy, Gulf Air has announced a firm order of 29 A320neo Family. The new order includes 17 A321neo and 12 A320neo of which 10 A320neo have been confirmed in 2012. The contract was signed on January 21st, at the Bahrain International Airshow. Gulf Air currently operates 28 Airbus aircraft
ATR achieved a new record turnover in 2015, increasing to US$2bn (2014: US$1.8bn). During the year, the aircraft manufacturer also set a new record in terms of aircraft deliveries, with a total of 88 aircraft (2014: 83), an increase of 72% over the 51 deliveries made in 2010. Firm orders for 76 aircraft, along with
As part of the listing process for the state-owned Airports Corporation of Vietnam (ACV), Vietnam’s principal airport operator, a 20% stake in the company is being offered to a major strategic investor on top of a 5% stake which has been offered to retail investors and which, so far, has raised US$51.6 million from 3.47%.
Philippine Airlines and Lufthansa Technik AG have signed a five-year Total Component Maintenance (TCM) contract for the Airline’s Airbus A320 and A340 fleet. The services will be extended end of 2016 to support additional Airbus 320s operated by Philippine Airlines. Lufthansa Technik will support Philippine Airlines at its main base in Manila, the Component Service
With the lifting of sanctions on Iran, the strong possibility that already low fuel prices could fall by a further US$5 – US$10 has the potential to see airlines’ profitability increase, though considerable thought will have to be put in place with regard to hedging strategies which tend to vary considerably on either side of
