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ANA Holdings to merge with subsidiary

Friday, 25 Sep 2015 02:00am EDT

ANA Holdings Inc:To merge with a Tokyo-based wholly owned subsidiary WGT, effective Dec. 1.

Finnair to discontinue NGA's operations

Friday, 8 May 2015 09:00am EDT

Finnair Oyj:The Board of Directors of Finnair's associated company Nordic Global Airlines Ltd (NGA) has decided to discontinue NGA's operations by May 31.The termination of the operations has no material impact on Finnair's cargo business, or Finnair's financial position.

Era Group Inc announces organizational realignment

Wednesday, 29 Oct 2014 06:44pm EDT

Era Group Inc:Announces executive appointments and an organizational change as part of proactive, company-wide realignment designed to streamline its business.Under new organizational structure, Era will integrate each of the customer-facing and operational aspects of business to create new, more streamlined reporting structure comprised of Commercial team to function as client advocate and an Operations group to function as unified service center.Organizational changes are designed to improve execution and discipline across departments and ensure that business is more efficient and better aligned to support customers and execute the company's overall strategy.

Finnair reaches savings agreement with cabin crew

Tuesday, 7 Oct 2014 12:35am EDT

Finnair Oyj:Reaches savings agreement with cabin crew.Says agreement brings Finnair 18 million euros in permanent annual savings.Says as a result of the savings agreement, Finnair is no longer planning on further outsourcing of cabin services.

Finnair reaches negotiation result with pilots

Monday, 8 Sep 2014 08:17am EDT

Finnair Oyj:Says Finnair and the Finnish Air Line Pilots' Association (SLL) have reached a result in the negotiations related to Finnair's savings program.Says the savings agreed with SLL are mainly reached through changes to salary and working time.Says the agreement brings Finnair 17 million euros in permanent annual savings.Says Finnair gives pilots protection for redundancies for the next two years.

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.


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