Alitalia has sufficient liquidity to operate until the start of December, the Italian airline’s bankruptcy commissioner told trade unions recently, according to Reuters. Augusto Fantozzi also told the unions that he hoped to wrap up the sale of Alitalia assets to the CAI investor group by mid-November. CAI plans to merge the profitable parts of Alitalia with domestic rival Air One and is looking for a partnerabroad. … [Read more...] about Alitalia
Carriers
LTE Internationa
Spanish airline LTE International has suspended all operations after informing Spanish authorities it was in serious financial difficulty. “LTE International Airways SA wish to inform you that due to the financial situation of the company... we have had to suspend our charter and scheduled operations,” a statement on thecompany’s Web site said. … [Read more...] about LTE Internationa
Qantas
Qantas has admitted its guilt to illegally fixing air cargo freight surcharges to the Australian competition regulator. The airline agreed to pay a A$20 million fine and apologised “unreservedly” for illegally ramping up its freight charges in concert with other international airlines between 2001 and 2006. The airline previously admitted its guilt to the US Department of Justice and paid a US$61 million criminalfine last November. … [Read more...] about Qantas
Emirates
Emirates president Tim Clark expressedconfidence that his airline will post a profit in the current financial year ending31 March, “but maybe we won’t be asprofitable as we might like,” he said. Clarksaid EK will take delivery of new aircraft asscheduled “assuming my friends at Boeingend the strike” and continue to increaseproduction, although it is consideringadding fewer new destinations thanplanned. … [Read more...] about Emirates
Norwegian
Norwegian reported a NOK414.4 million (US$59.1 million) profit in the third quarter, more than five times greater than the NOK76.3 million posted in the year-ago period, which it called its “best result” in its six years as an independent European carrier. “The demand for tickets has so far not been affected by the turmoil in the global financial markets. However, future demand is dependent on sustained consumer and business confidence in ourkey Scandinavian markets,” it … [Read more...] about Norwegian
Boeing
Boeing and the International Association of Machinists and Aerospace Workers reached tentative agreement on a new four-year contract covering 27,000 employees in Washington, Oregon and Kansas. Union leadership is recommending that employees vote to ratify the contract. The company retained the flexibility necessary to manage its business, while making changes to the contract language to address the union’s issues on job security, pay and benefits. The offer provides general wage increases … [Read more...] about Boeing
