Russia’s new state-run airline – Russian Airlines, known locally as Rosavia – has solicited offers from Boeing and Airbus for the 65 narrow body planes it plans to buy in the next few years, Reuters reported. Russian Airlines is being created by the state to absorb several carriers crippled last year by the financial crisis and high fuel prices. … [Read more...] about Russian Airline & Rosavia
Carriers
Air China & Cathay Pacific Airways
Air China has said it will increase its stake in Cathay Pacific Airways to nearly 30 per cent by buying shares from CITIC Pacific at HK$6.335 billion. The Beijingbased airline will buy 491.9 million shares of Cathay at HK$12.88 apiece from CITIC Pacific, according to a statement posted on the Hong Kong Stock Exchange. The deal will make Air China the Hong Kong carrier’s second largest shareholder after British conglomerate Swire Pacific. … [Read more...] about Air China & Cathay Pacific Airways
EADS chief says orders may be down for two years
With the global economic quagmire flattening demand for aircraft, the head of Airbus SAS’s parent said carriers may be less inclined to take new aircraft in the next year or two as they grapple with the decline in global traffic, the said. “The market isn’t dead, we have some campaigns, but it’s not extremely active, that’s clear,†European Aeronautic, Defence & Space Co. chief executive Louis Gallois told Bloomberg. “It’s … [Read more...] about EADS chief says orders may be down for two years
EU clears Lufthansa’s Austrian takeover
The European Commission has approved Lufthansa’s takeover of Austrian Airlines Group, allowing it start integrating the company in September. Lufthansa is taking over about 42 per cent of the shares of Austrian Airlines owned by the government for about euro336,000 (US$480,000). The commission also approved a euro500 million government restructuring programme, which Lufthansa has said in the past would be necessary to reduce Austrian's debt. The EU made its decision based on the … [Read more...] about EU clears Lufthansa’s Austrian takeover
AF-KLM pulls out of Czech talks
Air France-KLM has pulled out of talks to take over Czech Airlines (CSA) citing the current economic downturn. “The current economic environment has significantly impacted the airline business. Under such circumstances, Air France-KLM believes that CSA might focus on developing and implementing a stand-alone recovery plan aimed at restoring its profitability,†AF-KLM said. The ailing state-owned carrier is up for privatisation and AF-KLM’s withdrawal from talks leaves only … [Read more...] about AF-KLM pulls out of Czech talks
EU clears Lufthansa's Austrian takeover
The European Commission has approved Lufthansa’s takeover of Austrian Airlines Group, allowing it start integrating the company in September. Lufthansa is taking over about 42 per cent of the shares of Austrian Airlines owned by the government for about euro336,000 (US$480,000). The commission also approved a euro500 million government restructuring programme, which Lufthansa has said in the past would be necessary to reduce Austrian's debt. The EU made its decision based on the … [Read more...] about EU clears Lufthansa's Austrian takeover