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One of South America's largest airlines halts operation in Venezuela over currency dispute

Shareholders oppose easyJet founder over dividend

Shareholders in easyJet have rejected calls by Sir Stelios Haji-Ioannou, the carrier’s founder, for the budget airline to boost its dividend, just days before HE plans to stage a protest over its pay-out policy. Sir Stelios, whose family owns almost 34pc of easyJet and so receives the lion&...

DAE sees 30-35 aircraft deals in 2016, mostly from Iran

Dubai Aerospace Enterprise (DAE), one of the few Gulf aircraft leasing firms, expects to add 30-35 planes to its current portfolio of 97 with significant demand seen coming from Iran, the company’s chief executive said on Sunday. Iran, which has emerged from years of sanctions that prevente...

Air Arabia profit dives as competition squeezes margin

The Sharjah-based carrier Air Arabia reported a 13 per cent drop in net profit in the fourth quarter, as competition put pressure on margins and a gloomy geopolitical environment weighed on the sector. The only publicly listed airline in the UAE reported a net profit of Dh59 million in the three months to December, compared with Dh68m in the corresponding quarter of 2014. For the full year...

Record profit for India’s Jet Airways

Jet Airways on Saturday posted a record quarterly profit for the three months to the end of December thanks to low fuel prices and high passenger numbers, helped by the success of its strategic partnership with Etihad Airways. The airline declared a net profit of 4.67 billion rupees (Dh252.7 million) for the period, which marked its third consecutive profitable quarter and compares to a profit...

Portugal buys 50 percent of TAP Airline for $2.1 Million

The Associated Press. The Portuguese government says it has agreed to buy 50 percent of the country's carrier TAP Air Portugal for 1.9 million euros ($2.1 million). Speaking after a signing ceremony Saturday, Humberto Pedrosa, who heads the Atlantic Gateway consortium that held 61 percent of the airline, said the deal would leave it holding a 45 percent stake in TAP, with the remainder o...

ASL Aviation Group Signs Conditional Agreement To Acquire TNT Airline Operations

ASL Aviation Group has reached agreement to acquire the airline operations of TNT Express N.V. (hereafter TNT), comprised of TNT Airways (Belgium) and Pan Air Líneas Aéreas (Spain). The agreement is conditional on the completion of the intended acquisition ofTNT, which is expected in the first half of 2016. The change of ownership and control of TNT&r...

airBaltic Investor Agreement Signed

Riga. Yesterday an agreement was signed between the Latvian government and Ralf-Dieter Montag-Girmes. Under the deal, a total of EUR 132 million of fresh capital will be invested in the Latvian carrier for fleet modernisation and its new Horizon 2021 business plan. Ralf-Dieter Montag-Girmes, German investor: “airBaltic is an outstanding carrier in a unique market niche with Riga...

Finland: record high support in 2015 and EUR 230m loan for Helsinki Airport expansion

In 2015 the European Investment Bank (EIB), the EU’s long-term lending institution, fostered projects in Finland with loans totalling EUR 1.62bn – this is an all-time record high EIB commitment in Finland. Today, the EIB provided a EUR 230m loan to Finavia Corp., the Finnish airport operator, for the expansion of Helsinki Airport. This investment...

Bombardier plans reverse stock split as shares dive: sources

Canadian plane and train maker Bombardier Inc, whose stock has hit its lowest level in 25 years, will soon announce plans for a reverse stock split, two sources familiar with the matter said, in order to remain a part of Canada's benchmark stock index. The sources, who are not authorized to publicly discuss the plans, said Bombardier's board of directors had already approved the plan be...

Virgin posts second quarter profit

Virgin Australia says improving yield and revenue growth in the key domestic market has led to a strong rise in second quarter profit. The company said on Thursday statutory net profit for the three months to December 31 2015 came in at $60.8 million, a significant increase from $11.3 million in the prior corresponding period. The result was Virgin’s second consecutive quarterly profit...

Emirates brand value grows 17% to reach US$7.7 billion

Emirates has come out on top again as the world's most valuable airline brand, according to the 2016 Brand Finance Global 500 report, which was released yesterday. The airline’s brand value grew 17% over last year to reach US$ 7.7 billion. For the fifth year running, the airline has steadily risen up in the global ranking of the world’s top brands to be placed at #171, 47 places...

Passengers Evacuated After Bomb Threat On TAP Flight

A bomb threat on a plane preparing to leave Faro airport in Portugal's southern region of Algarve for Lisbon forced the evacuation of 38 passengers early on Tuesday, a spokesman for TAP said. "There was a bomb threat and the plane was handed over to the authorities for inspection. The passengers have been removed," he said, declining to provide details on how the threat had been d...

Boeing Capital Upbeat on Market Growth

Boeing Capital projects that airlines and lessors generally will encounter few problems acquiring aircraft financing this year. It describes the market as healthy as order books remain strong, industry growth continues to outstripGDP and airlines continue to turn more profits than they have in decades, all the while low fuel prices offset the effects on economies of the commodities crisi...

Russia's Yakutia Airlines secures $10.5mn in state subsidies

Yakutia Airlines will receive 800 million roubles (USD10.57 million) in state subsidies from the government of the Sakha Republic (Yakutia) to cover its leasing costs for this year. CEO Olga Fedorova told Russia's TASS news agency that the airline's financial health is a key concern for both management and government. In line with plans to increase its share capital and attract a str...

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Avolon places landmark order for 110 Airbus A320neo and A330neo aircraft

Avolon, one of the world’s leading aviation finance companies, has reinforced its long-term growth strategy with a firm order for 110 Airbus aircraft, including 35 A330-900 widebodies and 75 A32...

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airBaltic files first monthly operating reports with U.S. court and publishes preliminary unaudited financial information

Air Baltic Corporation AS , Latvia’s national airline and the leading carrier in the Baltic States, announced that airBaltic and its subsidiaries participating in the voluntary Ch...