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SF Express Launches Bond Issue To Bankroll Expansion
Friday, November 29, 2019 - 9:30am | 316Chinese cargo carrier SF Express Group announced that it has tapped the debt capital markets with six-year convertible bonds to raise CNY5.8 billion ($820 million). The group is the second-largest courier company in China, and the first private express delivery company with an airline subsidiary in...
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Air Freight In 2020: Optimism Breaks Out At TIACA
Friday, November 22, 2019 - 9:40am | 1358There was a surprising sense of positivity about the air cargo industry's prospects in 2020 as stakeholders converged on Hungary this week. Budapest was the meeting place for The International Air Cargo Association's (TIACA) 2019 Executive Summit, the first since Steven Polmans, director of cargo...
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Potential Investor Bails Out Of Alitalia Rescue
Wednesday, November 20, 2019 - 12:26pm | 441Italian holding company Atlantia has walked away from taking part in a €1 billion ($1.1 billion) plan to rescue financially ailing flag carrier Alitalia. Atlantia had been linked to a €300 million investment in Alitalia in return for a 30% stake. Active in the infrastructure sector, including...
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Delta Refuses To Sweeten Alitalia Investment Offer
Friday, November 15, 2019 - 4:00pm | 440In spite of competition from German flag carrier Lufthansa, U.S. major Delta Air Lines Inc. (NYSE: DAL) remains firm in an offer to take no more than a 10% stake in a reformed Alitalia. The Italian government is seeking €1 billion ($1.1 billion) in investment to relaunch Alitalia. "Delta is...
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A Look At Airline Freight Fleets
Friday, November 15, 2019 - 9:20am | 71Image by Danilo Bueno from Pixabay
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JetBlue Rolls Out Blue Basic, A Cheaper, No-Frills Fare
Wednesday, November 13, 2019 - 5:14pm | 649JetBlue Airways Corporation (NASDAQ: JBLU) is moving to match competitors by offering a new basic economy fare for passengers who are willing to give up early seat selection and the ability to change a flight. JetBlue said Tuesday it would begin rolling out “Blue Basic” fares on a...
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Lufthansa Cabin Crew Strike Forces Flight Cancellations
Wednesday, November 6, 2019 - 4:59pm | 281After a German court dismissed an injunction filed by Lufthansa on Nov. 6 against UFO, a union representing cabin crew, the airline has canceled about 1,300 flights as it prepares to weather a 48-hour strike. The strike will affect about 700 flights leaving from Germany on Nov. 7 and about 600...
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American Airlines Predicts Cash Buildup As Costly Fleet Renewal Subsides
Friday, November 1, 2019 - 2:49pm | 879American Airlines (NYSE: AAL) won't have to make any major fleet decisions for at least six years after completing a $30 billion, multiyear modernization program, positioning American to significantly increase free cash flow and returns to shareholders, according to company executives. Since 2013...
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IAG Revenue Up Slightly But Earnings Are Down
Thursday, October 31, 2019 - 2:02pm | 261International Consolidated Airlines Group (IAG), the parent of British Airways, Aer Lingus, Iberia and several other carriers, reported a 6.9% hit in operating profit to €1.43 billion ($1.59 billion) before exceptional items, primarily due to a British Airways pilots strike and other disruptions,...
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Qatar Hamad Airport To Build Cargo Terminal
Monday, October 28, 2019 - 2:37pm | 441As part of an ambitious expansion plan, Hamad International Airport (HIA), located south of Qatar's capital Doha, plans to build a cargo terminal that will increase handling capacity to an estimated 3.2 million tons per year from the current 1.4 million tons. The terminal is slated to be ready by...
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Gecas Places Freighters With Struggling Garuda
Thursday, October 17, 2019 - 4:51pm | 1184Garuda Indonesia and lessor GE Capital Aviation Services (Gecas) have entered into a lease agreement for two B737-800 Boeing converted freighters (BCFs). According to an Oct. 17 announcement, the passenger-converted aircraft are scheduled to be phased into the Indonesian flag carrier's fleet in mid...
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Air Canada Extends Scheduled Blackout For Boeing 737 MAX Into February
Wednesday, October 16, 2019 - 4:04pm | 489Air Canada said Wednesday that it has removed the Boeing 737 MAX from its flying schedule until February 14 because ongoing regulatory uncertainty could cause problems as it launches a new reservation system. Transportation authorities around the world grounded the MAX, a more fuel-efficient...
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EC Approves Bridging Loan For Collapsed Thomas Cook Subsidiary Condor
Wednesday, October 16, 2019 - 2:25pm | 670The European Commission (EC) has approved, under European Union (EU) state aid rules, Germany's plans to grant a €380 million ($420 million) six-month bridging loan to Frankfurt-based Condor, an airline subsidiary of bankrupt Thomas Cook Group. A Condor spokesperson told FreightWaves: "Condor...
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American Airlines To Resume Boeing 737 MAX Service In January
Wednesday, October 9, 2019 - 4:03pm | 640American Airlines (NYSE: AAL) said it expects to begin phasing in the Boeing Co (NYSE: BA) 737 MAX into service by mid-January, nearly nine months after aviation authorities grounded the plane for safety reasons. The Dallas-based airline said in a statement Oct. 9 that the Federal Aviation...
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EC Investigating Boeing-Embraer Joint Venture
Wednesday, October 9, 2019 - 11:57am | 637The European Commission (EC) has opened an in-depth investigation to assess the proposed joint venture involving U.S.-based aircraft manufacturer Boeing Co (NYSE: BA) and Brazil-based Embraer SA (NYSE: ERJ). The EC has a mandate to assess mergers and acquisitions involving companies with a turnover...