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Byline: Tom Zaitsev FlyArystan, the budget arm of Kazakhstan's flag carrier, has picked a location for its second domestic base ahead of a planned doubling of its fleet. FlyArystan, the [...]

Byline: Tom Zaitsev FlyArystan, the budget arm of Kazakhstan's flag carrier, has picked a location for its second domestic base ahead of a planned doubling of its fleet. FlyArystan, the [...]

Byline: Ellis Taylor Creditors of defunct Indian carrier Jet Airways have approved a set of criteria to evaluate proposals from investors to revive the business, amid signs of interest from [...]

Byline: Sophie Segal American Airlines closed a $650 million secured engine financing via the private placement market in June. American Airlines closed $650 million in secured engine financing via the [...]

Byline: financialgraham dunn london Lenders initiate bankruptcy proceedings after talks with Etihad falter over conditions attached to its rescue package State Bank of India (SBI) has cited conditions sought by [...]

Byline: Ellis Taylor India's National Company Law Tribunal is pushing for the corporate insolvency resolution process for Jet Airways to be fast-tracked, citing the national importance of the matter. India's [...]

Byline: Graham Dunn State Bank of India (SBI) cites conditions sought by Etihad Airways in relation to its potential investment in grounded carrier Jet Airways as requiring it to move [...]

Byline: Edward Russell Mesa Air Group closed a $91.2 million term loan to refinance a spare engine facility during the March quarter. Mesa Air Group closed a $91.2 million term [...]

Byline: financeN/A N/A Jet Airways on 17 April suspended flight operations after failing to secure emergency funding to ward off the crisis enveloping the Indian carrier. In an update to [...]

Byline: Ellis Taylor Jet Airways has denied recent Indian media reports claiming that it had secured a new R20.5 billion ($295 million) credit facility from Punjab National Bank (PNB). Jet [...]

Byline: Edward Russell Alaska Airlines prepaid $220 million in debt during the fourth quarter, refinancing the loans with new borrowing. Alaska Airlines prepaid $220 million in debt during the fourth [...]

Byline: Mavis TohChina Airlines believes that a listing for Tigerair Taiwan will pave the road for the low-cost carrier's expansion, as well as ease the securing of financing.China Airlines believes [...]

Byline: technologyKate Sarsfield londonStart-up Eviation hoping nine-passenger, battery-powered commuter aircraft will make public debut at Paris air showIsraeli start-up Eviation Aircraft has closed the latest funding round for its Alice [...]

Byline: Aaron ChongThe Indian government will not intervene to assist troubled carrier Jet Airways as it looks to raise more cash.The Indian government will not intervene to assist troubled carrier [...]

Byline: Sophie SegalAvianca Brazil has filed for bankruptcy protection with the Brazilian court after lessors move to take back aircraft, two sources tell FlightGlobal.Avianca Brazil has filed for bankruptcy protection [...]

The global airline industry has finally begun improving its financial performance after constantly posting losses amounting to over $20 billion since the start of the 1990s. Almost two-thirds of the world's top 50 airline groups posted net profits for FY 1994, according to preliminary results. Although some airlines still sustained net losses, around 80% of the top 50 airlines managed to record operating profits.

Lufthansa was the largest European airline ranked by sales and reported total sales of $11.6 billion in 1994. Japan Airlines reported $10.4 billion in sales in 1994, making it the first-ranked airline in the Asia/Pacific region. AMR Corp, parent of American Airlines, was the first-ranked airline in both North America and the world reporting 1994 sales of $16.1 billion. Varig reported 1994 sales of $2.6 billion making it the first-ranked airline in the Latin America/Caribbean region.

European airlines must improve their service if they wish to do well economically during 1994. The global recession and increasing costs have hurt the European airlines financially. Increasing flight frequency and utilizing alliances already in place will provide European airlines with increasing profits. Cost reductions, additional alliances and additional bilateral flight agreements may not increase profits.

Delta Airlines, United Airlines and American Airlines must reduce costs to compete with the low-fare and near-bankrupt airlines that compete with them. The domestic and international markets are near capacity, these airlines' hubs are also near capacity and the US airline market is near capacity for US airlines. While these three airlines grew globally, their costs also grew. When the recession hit, these three airlines grew at a much slower pace but their costs continued to escalate.

funding Emirates has underscored its own 'secure financial position' despite the debt clouds hanging over its Dubai home by detailing the financing for its next six Airbus A380 deliveries. According [...]

CZECH AIRLINES The Czech government has scrubbed privatisation by rejecting the only bid for its flag carrier. The Unimex-Travel Service consortium had offered just over [euro]1 billion ($1.5 billion) for [...]

FINANCE Emirates is claiming a world-first in its $414 million deal to acquire three new Boeing 777s, which it claims is the first-ever public bond offering backed by a US [...]

How do lessors protect the health of their aircraft? And what happens if an airline goes bankrupt? Turmoil in the airline industry has sharpened the need for lessors to monitor [...]

Russian carrier Yakutia has ordered two Sukhoi Superjet 100s from Finance Leasing and the Yakutsk-based airline expects its first delivery of the 95-seat twinjet in February 2011. The number of [...]

Tupolev 334 regional jet replacement receives sales fillip at Moscow air show Antonov's An-148 regional jet programme got a boost at the Moscow air show with orders for as many [...]

The collapse of fractional start-up Jet Republic will have astonished few. Launching against market leader NetJets Europe - itself troubled - at the dawn of the biggest slump in business [...]

AIR INDIA India's government is looking into a proposal to provide a Rp10 billion ($219 million) cash injection for loss-making Air India, which is struggling financially amid intense competition, weakening [...]

futura Things can only get better, unless they get worse. First, the struggling Palma de Mallorca-based carrier ceased operations and initiated insolvency proceedings. Then, Spanish authorities ordered the impounding of [...]

Kingfisher Airlines aims to sell some of the five Airbus A340-500s it has on order, but wants to keep at least two so it can launch ultra-long-haul services from Bangalore [...]

Genesis The Irish lessor took two Boeing 737-700s back from bankrupt Aloha Airlines and rapidly brokered a deal - at higher rates - with Gol for the aircraft to be [...]

business briefs DAYJET PASSES FINANCE MILESTONE EXECUTIVE TRAVEL DayJet has closed debt facilities totalling $140 million to acquire its fleet of Eclipse 500 very light jets. The facilities include senior [...]

Russian carrier expects airliner to 'revolutionise the economics of our operations' S7 (Sibir) is confident it will be able to raise the funds it needs to support its planned purchase [...]

Fractional ownership operators will soon benefit from the lower financing costs open to airlines, lessors and finance providers operating in countries that have signed up to the Cape Town convention [...]

Like many Canadian manufacturers, Viking Air, based in Victoria, British Columbia, is anxiously awaiting news of the Ottawa government's plans for research and development investment. Poised to restart production of [...]

US company wants to provide value to private travellers by leveraging buying power Private jet travel start-up Jumpjet plans to launch operations from 12 US cities in late May, offering [...]

Florida-based air taxi start-up company DayJet, which is to acquire hundreds of Eclipse 500s, has obtained $50 million in capital after completing its third round of private equity financing, bringing [...]

British Airways chief executive Willie Walsh has the look of a man who is up for a challenge. He has been at the helm of the UK flag carrier for [...]

navigationRussia's air navigation service Rosaeronavigatsia has introduced restrictions on carriers Dalavia and Interavia due to debt arrears.The organisation says that the air traffic control debts are several months overdue, and [...]

European Commission officials have initialled an agreement with their Russian counterparts to phase out Siberian overflight fees. The charges are estimated to cost European carriers ?300 million ($388 million) this [...]

Last year's financial and operating performance for the world's top carriers demonstrated in the starkest terms possible the aching gulf between the haves and the have-nots. The broad canvas shows [...]

Russia? first low-fare carrier, Sky Express, could be in line to receive funding from the European Bank for Reconstruction and Development (EBRD), as the airline prepares to commence services this [...]

Lufthansa Regional is facing a tough cost-cutting regime this year, but partner management chief Jurgen Hild is confident of meeting the target. Airlines operating under the Lufthansa Regional banner comprise [...]

Gulf Air is nearing a fleet-renewal agreement that will involve the replacement of its Boeing 767 fleet as part of a wider strategic plan that also includes recapitalising the carrier. [...]

United Airlines is implementing an efficiency programme that could effectively add the same capacity as 10 narrowbodies. The plan, which comes as the airline exits Chapter 11 bankruptcy protection, will [...]

Financiers in Kuwait have launched an initial public offering to raise capital for a new private-sector airline, Kuwait National Airlines, the latest start-up in the Middle East state. The initial [...]

British Airways has given its UK regional arm two years to move out of the red or face closure. The ultimatum came last week following the launch of a major [...]

Indonesian flag carrier Garuda's financial troubles are mounting as it failed to make scheduled loan payments to creditors that were due at the end of last month, writes Nicholas Ionides. [...]

A low-fare airline being set up in Saudi Arabia is expected to launch services by the middle of this year. Saudi organisation Investment Enterprises is behind the airline, which will [...]

Indonesia's state-owned carrier Garuda Indonesia is struggling to pay its debts and is trying to reach agreement with creditors. Garuda executives met in London with European export credit agencies (ECAs) [...]