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Norwegian Air Shuttle ASA Announces Establishment of Asset Management Company

Friday, 30 Aug 2013 01:28pm EDT

Norwegian Air Shuttle ASA announced that the Company has decided to establish a fully owned asset management company. The asset management company will be incorporated under the laws of Ireland and will have USD as its functional currency.

Icelandair Group hf's Icelandair Hotels Opens New Hotel in Downtown Reykjavik

Thursday, 1 Aug 2013 04:07am EDT

Icelandair Group hf announced that the Icelandair Hotels, a subsidiary of the Company, is to open a new hotel in the center of Reykjavik in the summer of 2015. The name of the hotel will be Icelandair Hotel Reykjavik Cultura. The hotel will be located in the so called Hljomalind Spot and will contain 142 rooms along with facilities for both indoor and outdoor restaurants. The project will be implemented in cooperation between Icelandair Hotels and Thingvangur, which is the owner of the site and will be in charge of the constructions. Icelandair Hotels will lease the hotel facility for 25 years.

Aeroflot OAO Plans to Set up Low-Cost Airline-Interfax

Friday, 26 Jul 2013 02:10am EDT

Interfax reported that Aeroflot OAO (Aeroflot) will set up a low-cost airline that will be a wholly owned subsidiary, the Company said in a statement, citing a decision made by its Board of Directors. Based on the demand for such a model of air services in Russia, the Board of Directors deemed it advisable to create a budget airline with 100% equity participation by Aeroflot, the Company said. Aeroflot said that the core product of the low-cost airline would be completely different from what Aeroflot itself offers. Mr. Savelyev said earlier that the future airline would operate about 15 aircraft. The creation of the company will take six months after the adoption of the necessary amendments to the Air Code and Russian aviation rules.

Malaysian Airline System Bhd Announces Incorporation of Malaysia Airlines B738 Capital Labuan Limited

Sunday, 21 Jul 2013 08:00pm EDT

Malaysian Airline System Bhd announced that the Company has incorporated an off-shore Company under the name of Malaysia Airlines B738 Capital Labuan Limited at a paid-up capital of USD1.00 in cash for its operation.

AirAsia Bhd Announces Formation Of Wholly Owned Subsidiary

Wednesday, 8 May 2013 05:10am EDT

AirAsia Bhd announced that it has on May 08, 2013 incorporated a subsidiary company known as AirAsia Global Shared Services Sdn. Bhd. (Company No.: 1045172-A) (AGSS) (the Formation), a private limited company with its registered office situated at B-13-15, Level 13, Menara Prima Tower B, Jalan PJU 1/39, Dataran Prima, 47301 Petaling Jaya, Selangor Darul Ehsan. The objective of establishing AGSS is to provide shared business, support and outsourcing services, develop or use multimedia technologies in producing or enhancing their products and services, and for process development and provision of training. The authorised share capital of AGSS is MYR100,000.00 divided into 100,000 ordinary shares of MYR1.00 each. The issued and paid-up capital of AGSS is MYR2.00 only comprising two ordinary shares of MYR1.00 each. For the purpose of incorporation, AirAsia subscribed to one ordinary share of RM1.00 and Cik Aireen Omar subscribed to one ordinary share of MYR1.00. Cik Aireen Omar will be transferring one ordinary share of MYR1.00 held by her to AirAsia, thus making AGSS a wholly-owned subsidiary of AirAsia.

Norwegian Air Shuttle ASA Launches Cargo Company-Reuters

Monday, 22 Apr 2013 07:16am EDT

Reuters reported that Norwegian Air Shuttle ASA announced that it is launching a stand-alone cargo company to exploit the growing capacity of its network as it expands the number of air routes it has. The Company is opening new routes to Asia and North America. The Company transports some goods, mainly within Scandinavia. The new company, called Norwegian Cargo, will continue that service and expand it to other destinations.

Aeroflot OAO's Low-cost Air Carrier to Operate 15 Planes-Interfax

Tuesday, 12 Feb 2013 12:52am EST

Interfax reported that Aeroflot OAO's low-cost carrier will be operating fifteen airliners, and setting up the Company will take half a year after the necessary amendments are made to Russia's Air Code and the country's aviation rules, company General Director Vitaly Savelyev told the press. The decision has been made in principle, but rules need to change, Savelyev said. It's possible that the Company will create the carrier in half a year after the amendments have been made," he said. Various options are being considered, he said. Either the carrier will be set up around an existing subsidiary airline or from scratch, he said. The issue of which airport the new air carrier will be operating out of is still being studied at this point, he said.

Eva Airways Corp to Set up Subsidiary

Tuesday, 5 Feb 2013 01:48am EST

Eva Airways Corp announced that it will invest USD 20 million to set up a wholly owned subsidiary, EVA Flight Training Academy.


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