British Airways has bought another three per cent of Spanish flag carrier Iberia, taking its stake to 13.15 per cent, and will look for chances to buy more shares. BA said it bought about 28.7 million Iberia shares at an average of US$3.64. At that price, the acquisition would have cost a total of about $105.3 million. Iberia made a net profit of US$511 million last year thanks to its highly profitableLatin American routes. … [Read more...] about British Airways

Air France-KLM's takeover of Alitalia has been approved and the joint carrier will restructure and re-launch Alitalia, calling for a network organised around Rome-Fiumicino, and around European and selected intercontinental destinations operating from Milan. The plan is to return Alitalia to profit as early as 2009. But Silvio Berlusconi, who is favoured to take over as Italian prime minister following next month's elections, said recently that he will reject Air France KLM's acquisition of … [Read more...] about Air France-KLM

Flights between Georgia and Russia resumed late lastmonth after a halt in October 2006 over Tbilisi's US$3.7 milliondebt to Russia's air trafficregulator. Russia and Georgiareached an agreement toresume flights in late February.Moscow imposed a transportationand postal blockade onGeorgia in apparent retaliationfor the detention on espionagecharges of four Russian armyofficers. … [Read more...] about Georgia

German airport operator Fraport plans to invest €50 million in China's Xian airport, in which it holds a 25.4 per cent stake, according to a Thomson Financial report. Fraport is also close to signing agreements to take stakes in two more Chinese airports. Prague's airport is another expansion target for Fraport but the company said it will not accept an "overheated" price for the airport. Fraport has also expressed interest in investments in London's Gatwick andStansted airports. … [Read more...] about Fraport

Emirates, the largest Middle Eastern airline, will manage a low-cost carrier to be established by Dubai's government in a bid to tap soaring demand for travel in the Gulf region. The new budget airline, to be based in Dubai and operating to destinations up to 4.5 hours flying time, will compete with carriers including Kuwait based Jazeera Airways KSC and Air Arabia PJSC, a low cost airline in the neighboring emirate of Sharjah, to attract budget travellers from the Arab world and the … [Read more...] about Emirates

Toll Holdings takeover offer for Hong Kong-based freight forwarder BALtrans Holdings has closed, with Toll achieving 99 per cent of acceptances. Toll will compulsorily acquire the remaining shares and it is anticipated that BALtrans will become a wholly-owned subsidiary ofToll by mid-April. … [Read more...] about Toll Holdings