With the Brexit fiasco primarily responsible for a weak pound, U.S. private equity firm Advent International has taken advantage of the situation and snapped up Cobham, the U.K. firm renowned for its pioneering work on air-to-air refueling, for US$5 billion. The price agreed was at a premium of 50% of the average monthly share price
In an internal memo seen by Reuters news agency, Cathay Pacific is in the process of instigating cost-cutting measures to counteract the slump in demand from mainland China as well as the general lack of passenger numbers wishing to travel to the former British colony as a consequence of the civil unrest Hong Kong is
London’s Heathrow Airport is on high alert as climate change protestors look to fly drones in proximity to the airport’s runways this Friday. The protesters, Heathrow Pause, are an offshoot of the larger Extinction Rebellion climate change group. They are protesting principally against the proposed third runway necessary for Heathrow’s expansion. Extinction Rebellion’s co-founder, Roger
Boeing has announced the suspension of load testing for its 777X aircraft after a cargo door exploded outwards during a high-pressure ground stress test, as reported in the Seattle Times. The ‘aircraft’ in question was a static test model used for ground testing and is not intended for flight. In a statement, Boeing spokesman Paul
China Airlines has finalized its agreement with Boeing to order six 777 Freighters to modernize its cargo fleet. The carrier, which currently operates one of the world’s largest 747 Freighter fleets, plans to transition to the twin-engine freighters as it launches operations from Taipei to North America, a key market that provides higher yields for
Cathay Pacific, Hong Kong’s largest and flag-carrying airline has announced on Wednesday, September 4, that it’s current chairman, John Slosar, is to step down, effective from November 6 at the conclusion of the carrier’s board meeting. According to Cathay Pacific, his relinquishing of his role is due to retirement, though the airline has come under
Aigle Azur (Blue Eagle), France’s second-largest airline, is set to file for bankruptcy protection next Monday after struggling, and failing, to run profitably for many years. The move follows on from last week’s ‘coup’ which removed Frantz Yvelin form the carrier’s helm as chief executive. Shareholders have accused him of making “strategic mistakes over the
Lossmaking Norwegian Air (Norwegian) has asked its bondholders for an additional two years in which to pay back US$380 million of current debt as part of an attempt to shore up its precarious financial position. In return, as security, lucrative take-off and landing slots at London Gatwick Airport would be pledged. As Europe’s third-largest low-cost
Ryanair has announced that Eddie Wilson, the Irish low-cost carrier’s Chief People Officer, is to succeed Michael O’Leary as CEO of Ryanair Holdings’ largest airline, Ryanair DAC. O’Leary will remain as chief executive of the wider-reaching Ryanair Holdings. Wilson has been with the company since 1997 when he joined as head of personnel and is
With the Norwegian government aiming for zero emissions domestic aviation by 2040 and Scandinavian airline Widerøe, hoping to ‘electrify’ its current regional fleet of approaching forty Dash-8 aircraft by 2030, the announcement of a joint research program between the airline and engine maker Rolls-Royce at a Clean Aerospace event at the British Embassy is a
