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Skytrans secures $18mn contract; to set up Brisbane base

Gulf Air posts best annual results since 2004

Gulf Air has posted its 2014 financial and operational results, the airline's strongest financial results in a decade. The results reflect a fall in annual losses from BHD93.3 million in 2013 to BHD62.7 million in 2014 – equivalent to a 32.8% reduction. Commenting on the airline&rsqu...

Credit Suisse to pay $80 million to settle dark pool allegations

Credit Suisse Group AG will pay more than $80 million to settle allegations that it did not disclose how it operated its dark pool private share trading exchange to clients, Bloomberg reported, citing a person familiar with the matter. The Swiss bank will pay more than $50 million in fines a...

Exclusive: Deutsche Bank to cut workforce by a quarter - sources

Deutsche Bank aims to cut roughly 23,000 jobs, or about one quarter of total staff, through layoffs mainly in technology activities and by spinning off its PostBank division, financial sources said on Monday. That would bring the group's workforce down to around 75,000 full-time positions under a reorganization being finalised by new Chief Executive John Cryan, who took control of Germany&#...

Fitch Upgrades Delta to 'BB+'; Outlook Positive

Fitch Ratings has upgraded Delta Air Lines’ Issuer Default Rating (IDR) to ‘BB+’ from ‘BB’. Fitch has also upgraded Delta’s Seattle project bonds to ‘BB+’ from ‘BB’ and assigned ratings of ‘BBB-’ to Delta’s 2015 secured credit facility. The Rating Outlook is Positive. The ratings upgrade reflects on-going improvements...

PASSUR® Aerospace Reports 13% Increase in Third Quarter

PASSUR® Aerospace, Inc, an aviation business intelligence, big data, and software solutions company reported total revenue for the quarter ended July 31, 2015 increased 13% to $3,244,000, compared to $2,865,000 for the same period in fiscal year 2014, primarily as a result of two major multi-year contracts signed during the year. For the three months ended Ju...

ICBC Financial Leasing refinances China Eastern aircraft with DVB

ICBC Financial Leasing has announced the closing of a financing facility for the refinancing of three aircraft with DVB Bank SE. The aircraft portfolio – consisting of one A330-200, one 737-700 and one A319-100 – are currently on long-term finance leases to China Eastern Airlines. The Chinese lessor mandated DVB as the sole arranger for the senior loan facil...

Credit Suisse plans to sell U.S. private bank: newspaper

Credit Suisse Group intends to sell its U.S. private bank and slash its prime brokerage business under a strategy being developed by new Chief Executive Tidjane Thiam, Swiss newspaper Schweiz am Sonntag reported on Sunday. Results will be presented to the bank's board in early October of a strategic review announced in July, earlier than first envisaged to give markets time to absorb...

Etihad & Co. hit bond market in bid to raise $1bn

Etihad Airways and several of its equity partners and subsidiaries have set up a Dutch limited liability private company - EA Partners1 BV - ahead of a USD1 billion bond issuance later this week. Funds raised through the issuance will be used to settle debt obligations attributed to the seven obligors which include Etihad Airways PJSC (up to USD245 million or 18.85% of total), Air Ber...

Estonian Air’s restructuring plan has taken the airline to a profitable summer 2015

In addition to June and July this year, Estonian Air earned profit also in August. The profit of three months amounted to almost half a million euros. Last time the company had bottom line profit three months in a row in summer 2010. „We are happy to see that the company continued to operate profitably also in August despite of the fact that competition at aviation market has significantl...

Deutsche Bank CEO to shy away from 'big bang' reform at board summit

John Cryan, Deutsche Bank’s new chief executive, will not present “big bang” reforms at a weekend supervisory board retreat, rather an acceleration of existing plans to shed assets and exit countries. The group’s 19-member top oversight body began a three-day meeting late on Thursday set to be held at the luxury Alpine resort near the Tegernsee lake south of Munich,...

Oil slides as Goldman Sachs cuts price forecast

Crude futures fell on Friday after Wall Street's most influential voice in oil trading, Goldman Sachs, slashed its price outlook through next year, citing oversupply and concerns about China's economy. Joining Germany's Commerzbank and a long list of other banks in cutting price projections, Goldman lowered its 2016 forecast for U.S. crude to $45 a barrel from $57 previously, and Br...

Sino-US signs contract for three more AW119KX helicopters

Finmeccanica-AgustaWestland announced today that Sino-US Intercontinental signed a contract for three AW119Kx single engine helicopters, further expanding the presence of AgustaWestland helicopters in the Chinese civil market. The three helicopters are expected to be delivered within 2015. Sino-US Intercontinental acts as an official non-exclusive distributor for AgustaWestland civil helicopter...

Rolls Royce Trent 700 selected for Airbus Beluga XL

Rolls Royce Trent 700 engines and long-term TotalCare engine support have been selected for the five new Airbus Beluga XL Transporter. The new range will replace the existing Airbus Beluga fleet, and use the $700 million engines. The Beluga XL was launched last November, and will provide Airbus with an extra 30 per cent air transport capacity. “We look forward to the...

TriFan 600 Takes Off as Crowdfunding Soars to $4 Million

In just two weeks, equity crowdfunders have reserved shares for more than $4 million viastartengine.com/startup/xti to support development of an airplane with the speed, range, and comfort of a business jet and the ability to take off and land like a helicopter. XTI Aircraft Company (XTI) is pioneering the first use of crowdfunding for commercial airplane development, and at...

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Essential news

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...

Top of the week

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...