World Air Holdings, Inc., parent company of World Airways and North American Airlines, has signed a letter of intent to lease an additional Boeing 767-300ER passenger aircraft for delivery to North American in December 2006. The initial lease will be for three years. The aircraft will be North American
World Air will add one additonal 767 Read More »
dba, Germany will carry in 2005 40 percent more passengers than in 2004. The airline expects 2.21 million passenger in 2005. The intended capacity increase of 30% will create 500 new jobs over the next years.
dba expects to create 500 new jobs Read More »
Delta Air Lines pilots ratified an interim agreement that provides for a 14 percent hourly wage reduction and reductions in other pilot pay and cost items equivalent to approximately an additional 1 percent in pilot pay. The interim agreement will result in pilot cost reductions of approximately $143 million on an annualized basis. The agreement
Delta pilots approve new agreement Read More »
Gulf Air and Standard Chartered Bank (SCB) have finalized the terms for the provision of a three-year syndicated term loan facility of USD 75 million that will be used to finance ongoing investment and growth in 2006. The deal will be signed in early January.
Gulf Air signs $75 million loan agreement Read More »
Malaysia Airlines will introduce a rigorous and disciplined cash management programme to stop and reduce the cash-burn rate of the company, both in terms of operating cost and also capital expenditure. It also seeks avenues to secure immediate short-term cash injection and financing, including sale of assets. MAS is currently in discussion with the Government
MAS is seaking short-term cash injection Read More »
Northwest Airlines reported a net loss of $129 million and an operating loss of $64 million for November 2005.
Northwest looses $129 million in November Read More »
Northwest Airlines mechanics rejected the recent contract proposal and will continue strike. The strike began in August 2005 and Northwest was able to continue flying by hiring temporary workers.
Northwest mechanics reject contract Read More »
The BTS reported for the third quarter 2005, that the domestic U.S. passenger airline industry operating margin, represented by 21 selected carriers, declined from a 0.4% profit margin in the second quarter of 2005 to a 2.0% loss margin in the third quarter. The seven largest regional airlines and the seven largest low-cost carriers each
U.S. domestic airline industry generated losses in third quarter Read More »
UAL Corporation reported that all the classes of creditors voting on its Plan of Reorganization have accepted the Plan.
Creditors approve UAL restructuring plan Read More »
World Airways said that the National Mediation Board (NMB) has released the company and its pilots, represented by the International Brotherhood of Teamsters (IBT), from the mediation process that began in January 2004. The NMB issued notice of the release Dec. 28, 2005, initiating a 30-day cooling-off period before either party can engage in self-help.
World Airways pilot union rejects final offer Read More »
