BAA completed the long-awaited £13.3 billion refinancing of its seven UK airports, which it said will provide "a stable, long-term, investment grade financing platform for investment in [London] Heathrow, Gatwick and Stansted airports over the coming decades."Included is £3 billion of committed facilities to fund immediate investment projects across the seven airports: LHR, STN, LGW, Edinburgh, Glasgow International, Aberdeen and Southampton. The refinancing agreement … [Read more...] about Europe &: CIS: BAA refinances as potential breakup looms
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Europe & CIS: Iberia boosts Israel capacity
Spanish airline Iberia is to boost its Madrid, Spain-Tel Aviv, Israel cargo capacity to 63.5 tonnes a week from September, using two Airbus 340s twice a week and making 12 other weekly flights using smaller aircraft. The airline expects to significantly increase freight haulage between Spain and Israel, and also between Israel and the rest of Europe, Latin America and the US. … [Read more...] about Europe & CIS: Iberia boosts Israel capacity
Europe & CIS: Lufthansa sees freight market slowing in Q4
Deutsche Lufthansa AG's cargo unit expects the global air freight industry's growth to slow in the fourth quarter of this year as weaker economic growth hurts consumer spending, the unit's head Carsten Spohr told Euro magazine in an interview."But we stick with our forecast that we will beat last year's earnings this year," Spohr said citing growth markets including China."We are not making any money there (in China) yet, but we have one foot in the most important air freight … [Read more...] about Europe & CIS: Lufthansa sees freight market slowing in Q4
Europe & CIS: SAS sued by retailers over price fixing
Scandinavian airline SAS is being sued by several major Swedish companies for losses resulting from price fixing on air freight services.Low-cost furniture chain IKEA and clothing retailer Hennes & Mauritz were among the companies who had launched lawsuits against SAS, according to media reports.The price fixing cartel was uncovered after European and US authorities carried out dawn raids at airlines on both sides of the Atlantic in early 2006. In June this year, SAS - like several of its … [Read more...] about Europe & CIS: SAS sued by retailers over price fixing
Europe & CIS: Cargo bright spot for Air France KLM
The company said it was able to avoid a bigger overall earnings drop in the quarter by hedging 40 per cent of its fuel and raising fares, and it reaffirmed its fiscal full-year guidance of a €1 billion operating profit. Operating profit for the prior fiscal year ended March 31 was €1.41 billion.AF KLM said it now is aiming for total annual cost savings of €620 million by 31 March, 2009. It achieved €114 million of its previous target of €430 million in yearly expense cuts in the first … [Read more...] about Europe & CIS: Cargo bright spot for Air France KLM
Middle East: Aramex joins Gulf Air's incentive plan
Bahrain-based Gulf Air has signed in Aramex International Ltd, a leading global transport solutions company, to its Global Incentive Agreement Programme (GIAP).The GIAP, introduced by Gulf Air last year, is designed to provide its key global partners with incentives to boost their cargo traffic volumes and reciprocally ensure that Gulf Air is endorsed as a "Core Carrier" of its partners."We are delighted to have Aramex on board as our partner in this incentive programme and are … [Read more...] about Middle East: Aramex joins Gulf Air's incentive plan
