Ryanair has agreed to purchase Malta Air, a Maltese start-up airline, creating a new subsidiary to the Ryanair Group of low-cost carriers in addition to Buzz (Poland), Lauda (Austria) and Ryanair (Ireland). Initially, the new airline will take over all Ryanair’s 61 current routes and operating six aircraft, but this number is expected to increase
United Technologies Corp and Raytheon Co will merge to create a new company in what is seen as the largest-ever merger in the aerospace sector. Subject to regulatory approval, the deal should go through by the end of the first half of 2020 and will create a company worth an estimated US$121 billion. It is
Boeing’s largest shareholder, the Vanguard Group Inc which currently holds a 7.1% stake in the U.S. plane maker, has made public its concerns over Boeing management’s handling of the grounding of the 737 MAX and that its fund managers have become “very concerned” regarding oversight failures in light of the two recent fatal 737 MAX
In what is seen as the U.K.’s largest-ever transfer of corporate pension risk, Rolls-Royce announced today (Thursday) that it is to shift £4.8 billion of assets to the insurer Legal & General. This is becoming a more frequent occurrence as companies look to remove pension scheme risks from their balance sheets with consultants predicting the
Aiming to reduce emissions by between 25% and 30% by 2030, Scandinavian Airlines (SAS) has announced it will no longer be selling duty-free goods on planes in an attempt to further reduce weight and thus save fuel as a part of its wider-ranging strategy.“ Every step on the way to sustainable travel is important,” said
With the Boeing 737 MAX program already in trouble after two fatal crashes and a number of airlines already canceling orders, the U.S. Federal Aviation Administration has announced that it has identified a faulty part in a number of the jets, as well as the 1997 third-generation 737 variant, the 737 NG. According to the
A combination of an escalating trade war and increased oil prices saw global airlines cut profit forecasts by 21% as the threat of an industry slowdown looms. According to the International Air Transport Association (IATA), which represents 80% of the world’s air traffic through approximately 290 carriers, December’s forecast of US$35.5 billion has been slashed
Despite the fact that it is believed the Federal Aviation Administration (FAA) is set to approve the updates to the 737 MAX in June, other agencies intend to carry out their own assessments. This has resulted in the likelihood worldwide approval for the lifting of the ban, which was instigated after two fatal crashes involving
The major provider of broadband connectivity products for aviation, Gogo, has announced its intention to create a contiguous U.S. and Canada air-to-ground (ATG) network which will be designed for use by business aviation aircraft, commercial regional jets and smaller mainline jets. It is anticipated the network will be operational for business and commercial aviation by
The six-day pilots’ strike which ended May 2, is estimated to have cost Scandinavian Airlines 650 million kroner (US$68 million) and contributed heavily to the carrier’s 1.2 billion kroner (US$125 million) loss for the second quarter of its financial year. The strike, which began April 26, was the consequence of a breakdown in negotiations between
