Having announced back in June that China’s Fosun Travel Group, part of Fosun International Ltd. (Fosun), had expressed an interest in acquiring the U.K.’s Thomas Cook Group Plc. (Thomas Cook), the world’s oldest travel agency, it has now been confirmed that Fosun, a drugs-to-insurance conglomerate owned by billionaire entrepreneur Guo Guangchang may consider providing the
The combination of Airbus deliveries increasing 28% for the first half of 2019 and Boeing deliveries falling 38% for the same period will likely see Airbus take over the crown of the world’s biggest plane maker by the end of the year, reversing the trend of the past eight years. Boeings reversal of fortune rests
In a move that will bring in substantial investment at an optimum time, Sir Richard Branson’s Virgin Galactic is to merge with Social Capital Hedosophia Holdings Corp (SCH), a special purpose acquisitions company. SCH will hold a 49% stake in the company while Virgin Galactic will retain a 51% stake and the new company plans
British Airways (BA), part of the International Airlines Group (IAG) has been hit with a proposed £183 million (US$229 million) fine for a data breach which saw the credit card details, including the card number, expiry date and three-digit CVV security code, stolen from the reservations system for passengers who booked directly with the carrier
Saudi low-cost carrier flyadeal has announced that it will order 30 A320neo aircraft and options for a further 20 A320neo family aircraft, in response to continuing growth in passenger demand across domestic, regional and international routes. Deliveries of the flyadeal aircraft will commence in 2021. The allocation of the new aircraft to flyadeal follows from
Eva Air Corporation (Eva Air) has been forced to cancel a further 550 flights after negotiations to end the cabin crew strike, which began on June 20, broke down. Including the latest cancelations, it is estimated the strike will have cost the carrier in the region of US$56 million and will have affected 2,000 flights
Boeing has announced US$100 million in funds to address family and community needs of those affected by the tragic accidents of Lion Air Flight 610 and Ethiopian Airlines Flight 302. These funds will support education, hardship and living expenses for impacted families, community programs, and economic development in impacted communities. Boeing will partner with local
Having been ousted as Chairman of Columbia’s Avianca airline after defaulting on a loan from United Continental Holdings (United), Bolivian-born German Efromovich has now made an approach to acquire a 30% stake in the struggling Italian flag-carrying airline Alitalia. Italian daily financial newspaper Il Sole 24 reported a conversation it had with Efromovich in which
As part of its new strategic alignment, RUAG, the international technology group, is selling its Swiss business aviation sites. The buyer of the sites at the Geneva-Cointrin and Lugano-Agno airports is the French aerospace group Dassault Aviation. The successful sale of RUAG Business Aviation AG is the first step to realign the portfolio of RUAG.
Embraer has delivered the first of its new Praetor 600 super-midsize business jet to an undisclosed European customer. The delivery ceremony was held at the company’s production facility in São José dos Campos, Brazil, where the first Praetor 600 rolled off the hybrid assembly line that also produces the Legacy 450 and Legacy 500. Assembly
