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.
India’s loss-making Jet Airways and its new 24-percent owner Etihad Airways are formulating plans for restructuring debt and fleet rationalization for enhancing a full-service branding. Jet, reporting $689 million in declared losses last year, expects to show profits by 2017, founder and chairman Naresh Goyal said at a July 23 press conference in New Delhi.
Fractional-share provider NetJets (Booth 6656) is celebrating the 50th anniversary of the founding of Executive Jet Airways, a U.S. charter and management company that is NetJets’s corporate ancestor. The first celebration took place at an EBACE 2014 event yesterday, held with Bombardier at the static display.
Airbus and Boeing released their outlooks for the Indian airliner market over the next two decades at the India Aviation show in Hyderabad this week, with both OEMs estimating different figures.
The 15-member Association of Asia Pacific Airlines (AAPA), which addresses a wide range of issues of common interest to the region’s aviation industry, is focusing its efforts on extending its membership base to South Asia–to include the time zones between GMT+5 to GMT+12, extended from the previous GM
Delivery of SilkAir’s first Boeing 737 a little over a week ago in Washington state marked the fulfillment of what Boeing Commercial Airplanes vice president of sales Dinesh Keskar characterized as a “major win” for the company in the Asian market. In fact, while Boeing would no doubt relish the chance to convert any Airbus operator, the contract with the Singapore Airlines subsidiary came as particularly satisfying given the impressive market share its rival from Europe has established in the region over the past decade or so.
Abu Dhabi state-owned carrier Etihad Airways announced a code-share agreement with JetBlue Airways on January 22 that would extend its reach into the U.S. market if the Department of Transportation (DOT) approves. A week earlier, Etihad said that it will double its flights between Abu Dhabi and New York City by introducing a second daily service.
The Star Alliance has set a new target of 2015 for Air India to join its ranks following a unanimous vote by member airlines to restart the process of integrating the Indian flag carrier. The alliance suspended integration in 2011 on grounds that Air India had “not met minimum joining conditions agreed in December 2007.” With signs of stability and fleet rationalization, however, Star has agreed to give Air India a second chance.
Serbian national carrier Air Serbia will overhaul its fleet with 10 Airbus A320neos in a transaction valued at $1 billion at list price. The new narrowbodies are among the firm orders Etihad Airways placed with Airbus for 87 aircraft during the Dubai Airshow. Etihad, the Abu Dhabi government-owned airline, will acquire 49 percent of Air Serbia as of January.
“Etihad Airways is the fastest-growing airline in the history of commercial aviation,” said James Hogan, president and CEO, upon the announcement that Etihad will begin nonstop flights to Los Angeles from Abu Dhabi beginning June 1, 2014.
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