Singapore Airlines Ltd and parent Temasek Holdings Pte Ltd may pay about $930 million for a stake in China Eastern Airlines Corp. to expand the carrier’s reach in the world’s most populous nation, Bloomberg reported. SIA would invest about $600 million and Temasek about $330 million for a combined stake of about 24 percent, said four people, who asked not to be identified before the terms of the deal are finalised and approved by regulators. The report said that a deal would … [Read more...] about LATE NEWS: SIA, Temasek may buy 24% of China Eastern
AMERICA: NWA subpoenaed in price-fix probe
Northwest Airlines Corp. said it has been subpoenaed by the Department of Justice in a probe of possible air cargo price-fixing, the Associated Press reported. More than a dozen airlines have been the subject of an investigation initiated by US and European Union officials into suspected price-fixing in the air cargo industry on surcharges for fuel, security and insurance. Northwest, which runs the largest cargo business of any of the US passenger airlines, had not been publicly identified … [Read more...] about AMERICA: NWA subpoenaed in price-fix probe
AMERICA: World acquired by Global Aero Logistics
World Air Holdings, parent company to World Airways and North American Airlines has entered into an agreement to be acquired by Global Aero Logistics for US$315m in an allcash transaction. MatlinPatterson Global Opportunities Partners II is the majority shareholder of Global Aero Logistics, which owns ATA Airlines. As a result of the transaction, Global Aero Logistics will operate all three independent airlines under one umbrella. The transaction is subject to the approval of World Air … [Read more...] about AMERICA: World acquired by Global Aero Logistics
EUROPE: Leisure cargo spreads network
Leisure cargo has changed ownership recently as its parent company LTU was taken over by Air-Berlin. This forms quite a strong group of long, medium and short haul airlines i.e. Air-Berlin, LTU, Niki, Belair and former dba with a widely spread network. The carrier without a fleet has performed successfully again in 2006, its seventh year in operation. Tonnes handled were up over 2005 17.3 percent to 47.129 t and revenues generated for the 18 mandate carriers were 58.2 million euros, an … [Read more...] about EUROPE: Leisure cargo spreads network
EUROPE: Transport logistic 2007: Focus on globalisation
Transport logistic 2007 is embracing the theme of globalisation. This is one of the reasons for the fair’s growing success. At the 11th transport logistic, International Trade Fair for Logistics, Telematics and Transport, which takes place in München from June 12-15, the organiser Messe München is expecting around 1,500 exhibitors from over 50 countries. By comparison, the last event in 2005 attracted 1,333 exhibitors. Once again this year approximately 40,000 visitors are … [Read more...] about EUROPE: Transport logistic 2007: Focus on globalisation
EUROPE: BA admits to price fixing charges
British Airways last month announced it has set aside 350 million pounds (US$690 million) to settle charges that it fixed air-cargo prices with other airlines. Europe’s third-largest carrier, which is being investigated by the UK and the US for alleged price fixing on fuel surcharges, after British investigators were tipped off by rival Virgin Atlantic, admitted there had been “breaches” in its compliance with anti-trust regulations as its operating profit in fiscal 2007 … [Read more...] about EUROPE: BA admits to price fixing charges
