MEA SIGNS US$3 MILLION AGREEMENT WITH SITA
Lebanon’s Middle East Airlines (MEA) has signed a 5 year contract worth US$3 million with SITA, a provider of IT business solutions. MEA will be provided with secure internet access and its offices around the world will be connected through a secure internet gateway. This new project will be completed in 9 months.
GULF AIR LEASES ARBUS
Gulf Air has leased two A319-100s and three A330-200s from ILFC. The A319s will be delivered in August and September and the A330s in March, April and May 2009.
BAHRAIN AIR ORDERS AIRBUS
Bahrain Air has ordered six A320s worth $US450 million to be delivered within the next 3 years. Bahrain's low cost airline will also lease an aircraft this year and two more in 2009.
CARGO AGREEMENT FOR KLM - BAHRAIN AIR
KLM and Bahrain Air have signed a Cargo Bilateral Interline contract in order to increase their co-operation in exchanging cargo shipments especially in Europe and the Middle East.
MALAYSIA AIRLINES AND GULF AIR CODE SHARING
Gulf Air will add its code to Malaysia Airlines flights to tourist destinations in Malaysia and Indonesia. The code share agreement between the two airlines will offer more options to the passengers and expand the network of Gulf Air in the region.
YEMEN AIRWAYS SIGNS FLEET MANAGEMENT AGREEMENT
Yeman Airways has signed a Fleet Management contract worth US$90 million with Pratt & Whitney Global Service Partners. This agreement covers the A310s owned by the airline and it includes their engine maintenance. The aircraft are powered by PW4000 Pratt & Whitley engines.
LONG TERM GROWTH FOR THE GLOBAL AIR CARGO MARKET
According to Boeing’s Current Market Outlook, the global air cargo market will grow further. During the next 20 years, the industry will develop at an average of 5.8% per year and the freighter fleet will increase from 1,948 to 3,892 aircraft. 863 new planes worth $206 billion and 2,495 aircraft from conversions are expected to be added to the global fleet. The widebody category will dominate with 60% of the fleet additions.
US$100 MILLION CAPITAL FUNDING FOR SPICEJET
India’s budget airline SpiceJet and WL Ross & Co LLC have concluded a funding agreement for up to US$100 million to be available to the airline. Istithmar World Capital is participating in this agreement. This injection of capital will enable SpiceJet to recover and expand its operations.
US$214 MILLION PRE-DELIVERY FINANCE FOR NACIL
The National Aviation Company of India (NACIL) has signed a contract for a pre-delivery finance loan worth US$214 million for the purchase of three Boeing 777-200LRs and five 777-300ERs that will be delivered in 2009 and 2010. The Bank of Scotland, Deutsche Bank, ING Bank and Natixis Transport Finance are reported to be involved in the arrangement of the loan facility. NACIL was formed by the merger of Air India and Indian Airlines and it currently has 111 aircraft on order from Boeing and Airbus. 38 have been delivered.
POSITIVE RESULTS FOR AIR CANADA
Air Canada has reported its operating results for the second quarter of the year with CAN$122 million net income compared to CAN$155 million a year ago. The airline had a CAN$7 million operating income.
AA ORDERS MORE 737-800
American Airlines has ordered 26 Boeing 737-800s increasing the number of aircraft by 6 for the 2009-10 fleet plans. The carrier is replacing old 737s and MD-80s and the total number of orders for the Boeing 737 in 2008 is now 117.
QANTAS MAKES PROFIT
Qantas announced a A$970 million net profit on A$16.2 billion revenues for the year ending on June 30. A year ago, the net profit was A$720 million on A$15.2 billion revenues.
LION AIR RECEIVES FIRST 737NG
Lion Air of Indonesia has received its first Boeing 737NG which is equipped with Honeywell’s ED weather radar system (RDR-4000 3D). 120 similar aircraft will be delivered to the airline until 2013.
AUSTRIAN AIRLINES TO BE PRIVATISED
Lufthansa and Air France-KLM are the main bidders for the privatisation of Austrian Airlines. OEIAG holds 43% of the airline and the rest is floated on the stock market.
EGYPT AIR ORDERS MORE BOEING AIRCRAFT
EgyptAir has ordered two B777-300ER in addition to six similar aircraft leased from GECAS. The airline which recently joined the Star Alliance has an option for two more aircraft. Delivery of the planes will start in 2010. The order is worth $US529 million.
1,092 777s have been ordered by 56 customers from around the world.
SAUDI ARABIAN AIRLINES SIGN AGREEMENT FOR A320
Saudi Arabian Airlines has leased eight A320-200s from Alafco Aviation Lease and Finance Company to be delivered in 2009 and 2010. The two companies have already signed another agreement for the lease and purchase of 17 Boeing and Airbus aircraft worth $2.7 billion.
LUFTHANSA IN NEGOTIATIONS
Lufthansa is in negotiations to acquire 45% of SN Airholding, the parent company of Brussels Airlines. The purpose of the investment is a closer co-operation with the Belgian airline.
BEST AIRLINES VOTED
Singapore airlines has been voted as the world's best airline according to a recent survey conducted by Skytrax. More than 15 million international passengers took part in this research from August 2007 to June 2008. Lufthansa has been voted as the best European airline and Qatar Airways was the preferred carrier in the Middle East. In North America, Continental Airlines was named best airline of the region.
ZOOM SUSPENDS ALL FLIGHTS
The transatlantic budget airline Zoom has collapsed and suspended all flights after going into administration. Two planes were held on the runway in Glasgow and Cardiff in the UK as the airline was not able to pay the air traffic control fees.
The carrier, which has flown since 2001, served eight destinations in Canada, three in the US, seven in Europe, and Bermuda with one Boeing 757 and six Boeing 767.
The suspension of operations is blamed on the rising price of fuel.
INDIA’S INDUSTRY IN DIFFICULTY
According to the Centre for Asia Pacific Aviation, Indian airlines have reduced weekly domestic flights by 10% over the past year. 10,922 weekly domestic flights in March were reduced to about 8,778 in July.
NEW MRO FACILITY IN INDIA
Malaysia Airlines and GMR Hyderabad International Airport have signed an MOU for a new MRO facility for narrowbody and widebody aircraft at the Rajiv Gandhi International Airport in Shamshabad, Hyderanad, India
BAA UNDER PRESSURE TO END MONOPOLY
Britain’s Competition Commission has recommended the sale of three airports operated by BAA in order to avoid the company’s monopoly in the market. The Spanish-owned group owns seven airports across Britain including Heathrow, the world’s biggest airport for international passenger traffic. Changi Airports International of Singapore announced that it may consider buying airports in the UK.
NEW AIRPORT IN IRAQ
A new international airport will be built in Tikrit, Iraq by an Iraqi-Turkish company. The new project worth US$125 million is financed by an Austrian bank.
DUBAI AIRPORT TERMINAL 3 TO OPEN IN OCTOBER
Terminal 3 at Dubai Airport will be open for business on October 14 and Emirates will have the exclusive use if the facilities. The first operational trial with 2,000 volunteers took place on August 9. The second trial on August 30 involved around 3,000 volunteers and was focused on the transit systems for passengers. As Paul Griffiths, CEO of Dubai Airports pointed out, Dubai is becoming a major international transit point. The third and final operational trial will take place at the end of September.
NEW AIRPORT TO BE CONSTRUCTED IN SAUDI ARABIA
A new airport will be built in Hail, Saudi Arabia and it is expected to serve up to 2.5 million passengers annually. The construction of the airport is expected to begin within a year.
EXPANSION OF TRIPOLI AIRPORT
Two passenger terminals able to serve 20 million passengers a year, have already started to be built at Tripoli International Airport in Libya. The project is worth US$2 billion and it is joint venture of Consolidated Contractors International Company of Greece, TAV of Turkey and Odebrecht of Brazil.
BIKKAIR AIR TAXI SERVICES
BIKKAIR is the first European air taxi operator in continental Europe and it has started operating with the Very Light Jet Cessna Mustang with Rotterdam in The Netherlands as its base.
SPECIAL CERTIFICATION REVIEW OF THE ECLIPSE 500
The FAA is conducting a special certification review of the Eclipse 500 Very Light Jet. A congressional hearing will take place on September 17 about the certificate that was awarded by the FAA to Eclipse in 2006. According to Albany International which supplies composite materials to Eclipse, production of the jet will be reduced until early 2009.
GROB AEROSPACE DECLARES BANKRUPTCY
Grob Aerospace that manufactures the Grob SPn twinjet, has declared bankruptcy as its current loan provider has withdrawn financial support. The company believes that it will overcome the difficulties and the aircraft will be on the way to certification.
ECLIPSE CUTS BACK TO ACHIEVE STABILITY
Eclipse Aviation has announced a 38% reduction of its workforce in an attempt to achieve financial stability. As a result, the production of the Eclipse 500 is expected to slow down this year.
GENERAL DYNAMICS TO TAKE OVER JET AVIATION
General Dynamics has announced that it will acquire Jet Aviation by the end of the year. Jet Aviation provides MRO for business jets and it charters executive jets.
FIRST BOEING 737-900ER BBJ
The very first Boeing 737-900 ER business jet has been completed and the manufacturer delivered it to DeCrane Aircraft for installation of a long range auxiliary fuel system and head-up display. The aircraft is being prepared for an unnamed customer.
NEW AIRCRAFT FOR ELITE JETS
Elite Jets which is based in Dubai, UAE has acquired a new Gulfstream G450. Elite Jets is a luxury private jet operator serving the Middle Eastern market.
Forthcoming Events
Very Light Jets – Europe
25-26 September 2008
Barcelona, Spain
www.miuevents.com/vlj-eu-08
Very Light Jets – Latin America & The Caribbean
10-11 November 2008
Miami, USA
www.miuevents.com/vlj-lac-08
Indian Business Aviation Expo (IBAE)
1-2 December 2008
Mumbai, India
www.miuevents.com/ibae2008 |
