- China's East Star appears "exceptional"[May 22, 2006]
The fourth privately-run Chinese airline carrier, East Star Airlines recently launched its business operations in Wuhan formally. On 19th, May, the maiden flight of East Star reached Shenzhen; The next day, East Star started operating routes of Wuhan-Haikou & Guangzhou.
- Virgin Blue denies destroying documents[May 22, 2006]
The Australian Taxation Office has accused Virgin Blue executives of destroying documents relating to an elaborate taxation scheme after the airline became the target of an investigation.
- Cathay strengthens ties with Unisys[May 19, 2006]
Cathay Pacific Airways has signed a data centre outsourcing deal with Unisys Australia. The contract is for three years, with an option to extend for another two. (5/19/2006)
- AMR Prices $400 Million Stock Offering[May 16, 2006]
FORT WORTH, Texas -- AMR Corp., the parent of American Airlines, said Tuesday it has priced a public offering of $400 million in newly issued shares at $26.80 per share.
- Labor Unrest Adds to Alitalia's 1Q Woes[May 17, 2006]
Alitalia's first-quarter pre-tax loss widened to ?156.6 million ($201.6 million) from ?141.2 million in the year-ago quarter as January's labor unrest (ATWOnline, Jan. 27) aggravated the low-season effect that marks the March quarter.Revenues decreased 3.1% to ?965 million, mainly owing to the deconsolidation of the Alitalia Servizi services unit and the drop in passenger income caused by the strikes. Passenger revenues slid 1.6% to ?764 million, with yield falling 3.4%.
- SAS CEO Lindegaard to Step Down[May 17, 2006]
SAS Group President and CEO Jorgen Lindegaard, who kept the airline aloft through the most challenging period in its history, announced yesterday that he will resign this fall, saying in a statement, "I feel that the time is right for a new CEO to take over."
- Airbus to Begin A320 Conversion Line[May 17, 2006]
Airbus has chosen Russia as its initial partner in the eventual passenger-to-freighter conversion of its A320 family aircraft, announcing yesterday at the ILA Airshow in Berlin the execution of a preliminary cooperation agreement with EADS EFW, MiG and Irkut.Conversion activities for A320s and A321s will include design, kit production, conversion and maintenance and are scheduled to begin in Russia in 2011. This is the first announcement of any A320 passenger-to-freighter conversion program.
- Rearden Commerce to Integrate the Data[May 17, 2006]
Rearden Commerce is to integrate FlightStats real-time data for airport, airline and flight status into its automated traveler notifications. (5/17/2006)
- US Releases Air Security Regulation[May 19, 2006]
The US government's final rule on air cargo security was issued this week after three years of debate and revision, marking the first major change to the regulations since 1999."Working with the industry, we have set a solid foundation for a major segment of the transportation network," US Transportation Security Administration Assistant Secretary Kip Hawley said. "In addition, TSA is working with our partners on a series of separate operational measures that raise security in air cargo."
- FL Group Profit Surges despite Losses[May 19, 2006]
FL Group, the investment firm that owns Icelandair, Sterling Airlines and other air transport and tourism companies, reported a first-quarter net profit of ISK5.84 billion ($82.9 million), a result that compared to a profit of ISK25 million in the year-ago quarter and "highlight[s] FL Group's focus as an investment company specializing in strategic and private equity projects as well as hedge fund activity."During the quarter, FL Group completed its acquisition of Sterling, which was announced last fall (ATWOnline, Oct. 26, 2005) and purchased a 6% stake in Finnair. It also made plans to list Icelandair Group on the Icelandic Stock Exchange.