Industry has not yet hit bottom: IATA Continued falling cargo demand has led the International Air Transport Association (IATA) to urge the cargo supply chain to improve security and efficiency to deliver a more enticing product. In remarks delivered by video to IATA's World Cargo Symposium in Bangkok, CEO Giovanni Bisignani said: "The industry is in crisis and nobody knows that better than our cargo colleagues. Cargo demand has fallen off a cliff." ¡°After a shocking 22.6 per cent decrease in … [Read more...] about Industry has not yet hit bottom~ IATA
Leasing & Chartering
Air China takes delivery of new B737-800
GE Commercial Aviation Services (GECAS) has announced the delivery of a new Boeing 737-800 aircraft to Air China as the carrier undertakes its ongoing fleet modernisation. GECAS currently leases 16 other aircraft to the carrier and manages six aircraft leased to Air China on behalf of other owners. … [Read more...] about Air China takes delivery of new B737-800
First B777-300ER for Australia goes to Virgin
Boeing and the Virgin Group's new V Australia long-haul airline recently celebrated the first 777-300ER to go to an Australian carrier. The aircraft, delivered by Boeing to International Lease Finance Corp. and leased to V Australia, is one of seven leased and purchased 777-300ERs V Australia will deploy on trans-Pacific and other routes. … [Read more...] about First B777-300ER for Australia goes to Virgin
Dubai lessor cuts 787 order
Dubai-based lessor, LCAL, established in 2004 to buy and lease 787s, cut its Dreamliner order from 21 aircraft to five. The 16 cancellations are another blow to the ongoing troubles surrounding the Dreamliner and are valued at US$2.8 billion. This is the second big 787 order cut revealed in the last two weeks after Russia's S7 confirmed last week that it had cancelled its order for 15 Dreamliners. … [Read more...] about Dubai lessor cuts 787 order
Middle East : DAE grows wide-body portfolio
Dubai Aerospace Enterprise (DAE), the global aerospace, manufacturing and services corporation, has acquired three Airbus aircraft ordered by Kingfisher Airlines in a sale and leaseback deal. DAE Capital, the aircraft leasing and financing business of the Dubai government, announced the completion of the acquisition of three new Pratt and Whitney-powered Airbus A330-200 wide-body aircraft ordered by Kingfisher Airlines from Airbus. DAE Capital currently has 33 aircraft on its books, with … [Read more...] about Middle East : DAE grows wide-body portfolio
Americas: Udvar-Hazy may buy back ILFC from AIG
International Lease Finance Corp. - aircraft lessor and the largest single customer of both Boeing and Airbus - chairman and CEO Steven Udvar-Hazy is reportedly attempting to line up investors to buy back the company from parent American International Group (AIG), which purchased it in 1990, according to the Wall Street Journal. ILFC, founded by Udvar-Hazy and Leslie and Louis Gonda in 1973, is a bright spot in troubled AIG's portfolio. While the company as a whole nearly collapsed before … [Read more...] about Americas: Udvar-Hazy may buy back ILFC from AIG
