The Board of Directors of Safran has selected Olivier Andries as successor to Philippe Petitcolin in the position of Chief Executive Officer with effect on January 1, 2021, after a transition period of one year starting on January 1s, 2020. As of that date (1/1/2020), Andries will serve under Petitcolin’s authority. Andries has demonstrated all
International Consolidated Airlines Group (IAG) and Globalia have signed a definitive transaction agreement under which IAG’s wholly owned subsidiary, IB OPCO Holding S.L. (Iberia), has agreed to acquire the entire issued share capital of Air Europa Líneas Aéreas, S.A.U (Air Europa) for €1 billion to be satisfied in cash at Completion and subject to a
As part of its continued move away from commercial aviation, Bombardier has announced that it is to sell its aerostructures business to Spirit AeroSystems (Spirit) for US$1 billion in cash and debt. The deal is expected to finalize in the first half of 2020. Spirit will acquire Bombardier’s Belfast plant, another in Morocco and a
Billionaire Petter Stordalen, a Norwegian businessman, hotel and property developer has, together with private equity firms TDR Capital and Altor, purchased the Nordic arm of the now failed Thomas Cook travel agent and airline. The triumvirate has acquired the Ving Group, which includes such brand names as Globetrotter, Spies and Thomas Cook Airlines Scandinavia, which
With the signing of its latest order for a combined total of 300 A320neo, A321neo and A321XLR Airbus aircraft announced October 29, InterGlobe Aviation Limited (IndiGo) has now taken its total orders for the A320 Family aircraft to 730 since it took delivery of its first A320neo in March 2016, while currently having an operating
Monday, October 28, saw Sir Richard Branson’s Virgin Galactic Holdings Inc. (Virgin Galactic) become the first space-tourism enterprise to go public as it traded on the New York Stock Exchange (NYSE). The listing was the result of a merger with a currently trading shell investment company, Social Capital Hedosophia, and has now secured critical funding
Stock in Norwegian Air (Norwegian) soared by as much as 23% as the Scandinavian airline not only announced a Q3 net income of NOK1.67 billion, up from a previously forecast NOK 1.47 billion, but also announced a leasing deal to offload 27 new Airbus jets it is committed to purchasing. Norwegian has raised its 2019
While Boeing continues to struggle with the grounding of its popular 737 MAX jet, the American planemaker is seeing other problems surface as it decides to reduce production numbers of its 787 Dreamliner. Beyond either further reducing output of the 737 MAX or even halting production completely, plans for the production of a successor to
On the eve of the 2019 National Business Aviation Association Convention & Exhibition in Las Vegas, Gulfstream has unveiled its all-new flagship G700 while announcing that Qatar Executive will be the launch customer. According to Gulfstream, the G700 blends proven ultralong-range, speed and performance with flight-deck innovation and cutting-edge cabin creation to offer customers an
Embraer has inked a purchase agreement with Flexjet, one of the global leaders in private jet travel. The deal comprises a fleet of Embraer business jets, which includes the recently certified Praetor jets and the Phenom 300. Valued at up to US$ 1.4 billion, at current list prices, this deal was included in the 2019
