FlyLAL Lithuanian Airlines ceased operations recently after its acquisition by SCH Swiss Capital Holdings for €1 million plus an agreement to cover debt of an additional €1 million, fell through. FlyLAL said that SCH "did not fulfill its obligations under the agreement" and that it "cannot secure the continuity of its operations and satisfy the demands of its creditors." SCH did not transfer the funds in time, flyLAL CEO Vytautas Kaikaris said, adding that shutting down was "the only … [Read more...] about FlyLAL ceases operations
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Gatwick bidding opens
London City, Budapest and Chicago Midway operators are among the first-round bidders for London Gatwick, which is set to be sold by BAA. LCY operator Global Infrastructure Partners, Budapest operator Hochtief and the MDW consortium of Citi Infrastructure Investors, Vancouver Airport Services and John Hancock Life Insurance will bid, the latter as Lysander Gatwick Investment Group, according to Reuters. … [Read more...] about Gatwick bidding opens
AVIC launches commercial engine company
China moved closer to its stated ambition of manufacturing a large commercial passenger aircraft with Aviation Industries of China's (AVIC), launch of its commercial engine company in Shanghai recently. AVIC President Lin Zuoming said the new venture will produce engines for a domestically produced150-seat commercial aircraft known as the "trunk liner". AVIC holds 40 per cent of the new company with Shanghai Electric Group and Shanghai Guosheng Group each holding 15 per cent. AVIC has put the … [Read more...] about AVIC launches commercial engine company
AAPA figures reveal "shocking" cargo decline
Recently released figures from the Association of Asia Pacific Airlines (AAPA) indicate that international air cargo traffic for 2008, expressed in freight tonne kilometres (FTKs), suffered a 6.1 per cent decline and while member airlines reduced cargo capacity significantly, the average cargo load factor for the year still fell by one percentage point to 65.6 per cent. The AAPA members carried 141.5 million international passengers in 2008, 1.8 per cent fewer than the record levels achieved in … [Read more...] about AAPA figures reveal "shocking" cargo decline
Singapore inks OSAs with Czech Rep & Iceland
Singapore has concluded an Open Skies Agreement (OSA) with Iceland giving airlines from Singapore and Iceland full flexibility to operate air services between and beyond both countries, as well as via intermediate points, without restrictions on capacity, frequency and aircraft type. The Singapore-Iceland OSA is also more liberal than conventional OSAs, as it allows for unlimited ¡°hubbing rights¡±, also known as ¡°7th freedom traffic rights¡±, for both passenger and cargo services. … [Read more...] about Singapore inks OSAs with Czech Rep & Iceland
4th runway for Frankfurt but night flights a problem
The Frankfurt airport has been cleared for expansion by a German court after years of trying to get the expansion approved. As a result the airport can soon start building a fourth runway north of the current airport perimeter with an opening date of 2012. But Frankfurt's operator, Fraport and the main operator Lufthansa, also have to deal with the court's preliminary statement that the planned night flight restrictions are not far reaching enough. With Lufthansa's growth rates constrained … [Read more...] about 4th runway for Frankfurt but night flights a problem
