Airlines

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Norwegian Air Shuttle ASA publishes FY 2014 guidance

Thursday, 23 Oct 2014 02:24am EDT

Norwegian Air Shuttle ASA:Expects FY 2014 available seat kilometres to grow by 35 percent this year.Says unit cost (CASK) is seen at 0.41 crowns this year.

Aeroflot OAO appeals UFAS decision on pricing policy-Interfax

Wednesday, 22 Oct 2014 02:32am EDT

Aeroflot OAO:Aeroflot has lodged an appeal against the ruling of the Arbitration Court of Moscow, which on Sep. 18 declined the company's claim for invalidating the decision of the Federal Anti-Monopoly Service in Tatarstan (UFAS) of Dec. 5, 2013-Interfax.It was reported earlier citing UFAS press-service, that at the beginning of Dec. 2013 UFAS had imposed a 650,000-Russian rubles fine on Aeroflot for abuse of dominant position.UFAS commission declared Aeroflot as having violated law on the protection of competition.According to the agency, the company has set different tariffs on the same service, regular flight Kazan-Moscow and Moscow-Kazan.UFAS also found the tickets to be overpriced.

Deutsche Lufthansa AG to sell IT business to IBM

Wednesday, 22 Oct 2014 02:01am EDT

Deutsche Lufthansa AG:Says is close to selling its IT infrastructure division and completing outsourcing deal with IBM, which will result in a 240 million euros ($305.57 million) pre-tax charge in 2014.Says deal is expected to close at Q1 2015 end.

Deutsche Lufthansa cancels over 1,500 flights because of pilot strike - DJ

Tuesday, 21 Oct 2014 05:06am EDT

Deutsche Lufthansa AG:Pilots of Deutsche Lufthansa are threatening more strikes in coming days, if German airline doesn't resume negotiations over retirement benefits - Dow Jones.The strike, which started on Oct. 20 night is expected to last through 11:59 p.m. Oct. 21 local time, with total of 1,500 flights cancelled.

AirAsia X Bhd incorporates AAX Capital II Ltd

Monday, 20 Oct 2014 08:00pm EDT

AirAsia X Bhd:Says AAX Capital II Ltd was incorporated on Oct. 20 as wholly-owned subsidiary of company.Says issued and paid-up share capital of AAX Capital II is $1 comprising 1 ordinary share of $1.Intended principal activity of AAX Capital II is special purpose financing vehicle for AirAsia X group of companies.

Exchange Income Corp announces sale of US Operations of WesTower

Monday, 20 Oct 2014 04:31pm EDT

Exchange Income Corp:Completes sale of WesTower Communications Inc., the US operations of WesTower (WesTower US) to MasTec Network Solutions, LLC (MasTec) for about $200 mln.Sale of the shares of WesTower US closed Oct. 20, 2014.

Virgin Australia Holdings Limited announces proposed acquisition of remaining 40 pct. of Tigerair Australia

Thursday, 16 Oct 2014 07:00pm EDT

Virgin Australia Holdings Limited:Says that it will acquire the remaining 40 per cent of shares in Tiger Australia Airways Pty Ltd from Tiger Airways Holdings Limited for a price of A$1.The transaction, once completed, will see Virgin Australia secure 100 per cent ownership and full control of Tigerair Australia and brings to a conclusion the joint venture between Virgin Australia and Tiger Holdings which commenced on July 8, 2013.Says as part of the proposed acquisition, Virgin Australia will secure the brand rights to fly Tigerair Australia to a number of short-haul international destinations, providing new growth opportunities for the business.Virgin Australia anticipates that completion will occur by the end of 2014.

Virgin Australia Holdings Limited announces proposed acquisition of remaining 40 pct. of Tigerair Australia

Thursday, 16 Oct 2014 07:00pm EDT

Virgin Australia Holdings Limited:Says that it will acquire the remaining 40 per cent of shares in Tiger Australia Airways Pty Ltd from Tiger Airways Holdings Limited for a price of A$1.The transaction, once completed, will see Virgin Australia secure 100 per cent ownership and full control of Tigerair Australia and brings to a conclusion the joint venture between Virgin Australia and Tiger Holdings which commenced on July 8, 2013.Says as part of the proposed acquisition, Virgin Australia will secure the brand rights to fly Tigerair Australia to a number of short-haul international destinations, providing new growth opportunities for the business.Virgin Australia anticipates that completion will occur by the end of 2014.

Delta Air Lines Inc gives FY 2014 pre-tax profit guidance

Thursday, 16 Oct 2014 07:31am EDT

Delta Air Lines Inc:Expects FY 2014 pre-tax profit in excess of $4 bln.FY 2014 pre-tax profit estimate $4,34 bln - Thomson Reuters I/B/E/S.

Aviakompaniya UTair OAO to cut 20 pct of flights, 10 pct of staff in 2014-2015-Interfax

Thursday, 16 Oct 2014 01:04am EDT

Aviakompaniya UTair OAO:Aviakompaniya UTair OAO, a Russian airline that is having financial troubles amid the slump in demand for air travel services, plans to reduce the number of its flights by 20 percent and cut its staff by 10 percent in 2014-2015-Interfax.There are plans to lay off more than 800 people, 500 of them management and administrative staff and 300 flight and technical staff, a company spokesman said.He said the cuts are being made as part of UTair's cost cutting program.The company had a total debt of 69 billion Russian rubles as of June 30 according to its RAS financial statement for the first half of 2014.It attributes difficult financial situation to an increase in lease payments for new aircraft and expenditures on fuel due to changes in currency exchange rates since the start of 2014.In addition, the company said its cost of borrowing has grown since the start of this year from 9 pct annually to 14-15 pct.The series of bankruptcies of Russian travel firms has also had a negative impact on the airline's business.UTair announced a cost cutting program in the middle of the summer that calls for reducing administrative staff, optimizing the route network and accelerating passenger services.

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