Airlines

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Malaysian Airline System Bhd announces dissolution of Macnet CCN (M) Sdn. Bhd.

Wednesday, 10 Sep 2014 08:00pm EDT

Malaysian Airline System Bhd:Says Macnet CCN (M) Sdn. Bhd., a subsidiary of MAS which was placed under Members' Voluntary Liquidation on Aug. 24, 2007 and held its final meeting on June 02, 2014, was dissolved on Sept. 11.

Air Berlin PLC to cut capacity and fleet and to introduce other restructuring initiatives

Wednesday, 20 Aug 2014 01:13pm EDT

Air Berlin PLC:Says has sufficient liquidity for restructuring initiatives and to deal with upcoming bond maturities.Remains committed to three segments: Europe, touristic and long haul.Says comprehensive restructuring program will be presented by the end of Sept. in full detail.Will focus on largest travel markets in the DACH region (Germany, Austria, Switzerland) as well as Palma de Mallorca and connect these high volume routes with high frequencies in point-to-point traffic.Says more focussed network design could equate to a capacity reduction in the region of 10 pct.Says wants to cooperate closer with Etihad Airways and network partners.Says will strive for narrow body jet fleet harmonization in entire network.Intends to reduce fleet by about 10 aircraft.Says has decided to close down five of smaller crew bases.Wants to enhance commercial capabilities.

Finnair Oyj says savings negotiations with SLSY proved unsuccessful; continues discussion on savings in ongoing employee consultation negotiations

Monday, 28 Apr 2014 12:10pm EDT

Finnair Oyj:Says its saving negotiation with the Finnish Flight Attendants' Association (SLSY), which were agreed upon as a part of the national Finnish Employment and Growth Pact on Nov. 15, 2013, has proven unsuccessful.Says that savings negotiations with the Finnish Aviation Union (IAU) and the Trade Union PRO concerning the technical personnel still continue.Finnair targets more than 30 million euros savings in the personnel costs of these three personnel groups as a part of its wider 200 million euros cost savings program.The deadline for savings negotiations is April 28.Says it was prepared to offer SLSY, IAU and PRO’s members protection for layoffs for the next two years if permanent savings had been achieved in full.Says SLSY members were also offered protection against further outsourcing for the next two years.Following the unsuccessful negotiation with SLSY, Finnair is pursuing the targeted savings in the cabin crew costs in the employee consultation negotiations commenced on April 2 and is looking for alternative operating models to lower its costs.

Finnair announces changes in financial reporting principles

Thursday, 27 Mar 2014 08:30am EDT

Finnair Oyj:Changes financial reporting principles.Will combine the Aviation Services segment with Airline Business segment from Q1 2014 onward.Says the nature and scope of Aviation Services business have changed in past years after structural changes in technical services and catering in 2012, and sale of Finncatering Oy.Will capitalize engine overhauls to its balance sheet and depreciates related costs during the engines’ maintenance periods.Earlier overhauls have been booked as expense when they occur.Expects the change to reduce the volatility of engine overhaul costs, which improves the accuracy of forecasting future profitability and improves comparability over of periods.

Japan Airlines to merge with subsidiary

Wednesday, 26 Mar 2014 03:00am EDT

Japan Airlines Co Ltd:To merge with a wholly owned subsidiary JAL Express Co., Ltd., on Oct. 1.JAL Express will be dissolved after the merger.

Star Flyer Inc announces outcome of early-retirement program and extraordinary loss for FY 2014

Monday, 20 Jan 2014 01:00am EST

Star Flyer Inc:Says completed the early-retirement program, which was offered from Dec. 16, 2013 to Jan. 17.Says 26 employees took the offer and will resign on Mar. 31.Says the employees who took the offer will be provided with outplacement support.Says to expect extraordinary loss of 98 million yen on the retirement payment, for the fiscal year ending Mar. 2014.

Norwegian implements changes to corporate structure

Monday, 30 Dec 2013 12:31pm EST

Norwegian Air Shuttle ASA:Closes restructuring activities planned for 2013.Says has established new AOCs and Resource companies.Says specific activities of the airline's commercial activities are further reorganized and established in separate new entities including, but not limited to, Norwegian Holiday, Norwegian Cargo as well as brand and marketing activities.Says the restructuring has included the establishment of new legal entities, reorganizing and relocation of key personnel and decision making authority, rights and assets to the relevant entities at their respective legal locations.

Aviakompaniya UTair OAO to sell UTair ZAO to subsidiary

Friday, 27 Dec 2013 07:00pm EST

Aviakompaniya UTair OAO:Says under optimization of its corporate structure, the Supervisory Board has approved the sale of 100 percent stake in UTair ZAO to the company's subsidiary, UTair-Leasing OOO.

Star Flyer Inc changes early-retirement program period

Friday, 27 Dec 2013 01:00am EST

Star Flyer Inc:Says the early-retirement program offering period was changed to Dec. 16, 2013 to Jan. 17, 2014.Says the previous disclosed period was Dec. 16 to Dec. 26.

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