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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.

Southwest Airlines Co to cease operations in three cities

Thursday, 5 Dec 2013 01:30pm EST

Southwest Airlines Co:Says its decision to close three cities in the airline's network.Say on June 7, 2014, Southwest will cease operations at Branson Airport (BKG), Key West International Airport (EYW), and Jackson-Evers International Airport (JAN).

Deutsche Lufthansa AG's Lufthansa Technik Airmotive Ireland Considers Closing Down - Reuters

Friday, 15 Nov 2013 09:38am EST

Reuters reported that Lufthansa Technik Airmotive Ireland (LTAI), a unit of German airline Deutsche Lufthansa AG, is considering closing down, Lufthansa's maintenance division said on November 15, 2013. LTAI - a jet engine overhaul facility in Rathcoole with 400 employees - will begin immediate negotiations with three trade unions and employee representatives, it said in a statement. The decision follows a review of operations at LTAI, in the context of declining revenues and shrinking international market opportunities, it said.

Star Flyer Inc to Offer Early-retirement Program

Friday, 15 Nov 2013 01:00am EST

Star Flyer Inc announced that it plans to offer an early-retirement program, during the period from December 16, 2013 to December 26, 2013. The employees will be offered retirement pay and outplacement support. The Company expects approximately 30 employees to take up the offer, with retirement date of March 31, 2014.

Finnair Oyj's Subsidiaries Finland Travel Bureau and Area Plan to Merge; Company Starts Employee Consultations

Friday, 25 Oct 2013 03:00am EDT

Finnair Oyj announced that its subsidiaries Finland Travel Bureau and Area have signed a Memorandum of Understanding that, if realized, would merge the two companies into a Finnish business travel agency. The aim of the plan is to improve the possibilities to offer Finnish companies and organizations services tailored to business travellers’ needs both within the region and internationally. If implemented, the plan would see Kirsi Paakkari, Managing Director of Finland Travel Bureau, become the Managing Director of the merged company. The merging is planned for December 2013. During the planning phase, customer service and customer relationship management operations will remain unchanged. The aim of merging the two travel agencies is to achieve volume synergies and reductions in costs by eliminating overlapping functions. For this reason, employee consultations will be initiated at Finland Travel Bureau and Area regarding the plans.


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