Abu Dhabi carrier Etihad Airways and Alitalia signed an investment agreement on Friday that will see Etihad acquire a 49-percent stake in the troubled Italian flagship airline. The overall “transaction implementation agreement,” which the airlines valued at €1,758 billion ($2.35 billion), will recapitalize Alitalia with the aim of restoring it to profitability by 2017.
AIN Air Transport Perspective » August 11, 2014
In the wake of recent airliner losses, carriers are bracing for substantial increases in insurance premiums when the main renewals season starts on November 1. Insurers have already made massive payouts for hull losses following the disappearance of Malaysia Airlines flight MH370 en route to Beijing and the apparent shooting down of MH17 over eastern Ukraine. Other recent losses have included the crash of Air Algerie’s flight AH5017 in southern Mali and TransAsia Airways flight GE222 in Taiwan. Further unsettling the risk environment for air transport have been recent attacks on airports in Pakistan, Israel, Afghanistan and Libya.
The Federal Aviation Administration executive who leads the agency’s NextGen ATC modernization effort said the FAA will sign off in October on an industry-generated plan for achieving results in the next three years.
Russian Prime Minister Dmitry Medvedev has instructed the country’s transport officials to draw up plans to block the use of Russian airspace by European Union (EU) airlines for flights to and from Asia.
Aeroflot’s new low-cost subsidiary Dobrolet became the first casualty of the new European Union (EU) sanctions against Russia when it was forced to suspend all operations on August 4. The Moscow-based carrier announced that it had had to stop all flights following the cancellation of insurance cover, access to aeronautical information, and maintenance and leasing arrangements.
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