All news – Page 7679
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Exim China ban
Eximbank has suspended new financings in China while the US reviews reports that China sold nuclear weapon technology to Pakistan. A decision whether to extend or lift the ban was due by the end of March. Exim has deferred $10 billion in loan guarantees and export credits. The situation could ...
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Sino-Korean boost
South Korean negotiators returned from Beijing after winning huge capacity increases and new route rights. Capacity will rise by 70 per cent from April and new flights will start to Beijing from the regional centres of Pusan and Cheju. Until now all China services have departed from Seoul. ...
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Bonds away!
GPA has completed a $4.05 billion bond issue, more than double the target, which will allow the company to pay $2.9 billion in bank and secured debts. The issue followed a deal between GPA and a US pension fund, which holds $30 million of the lessor's secured notes. ...
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Bouwing out
KLM's Pieter Bouw, Rob Abrahamsen, and Leo van Wijk have resigned from Northwest Airlines' board. Their replacements will be independent of KLM and may not be Dutch. Source: Airline Business
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American maple
Air Canada chief Hollis Harris has named fellow US citizen Lamar Durrett to succeed him as president and chief executive from mid-April. Harris is chairman for another year. Source: Airline Business
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Boeing boss
Philip Condit, president of Boeing, has been appointed as the company's chief executive, to replace Frank Shrontz who will remain as chairman. Source: Airline Business
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Pilot accord
Air France has secured a temporary agreement from two of its pilots unions, SNPL and SPAC, for a 30 per cent productivity increase with no extra pay. Pilots will fly 623 hours in 1996 compared with 542 in 1993. The accord should be made permanent in October, and equates to ...
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So what's in a name?
t used to be called Air Inter. Now, its legal name is Air France Europe but it trades as Air Inter Europe. It is majority owned by the Air France Group, but is legally a separate company. In 1997, it will be merged into Air France's European route operation, which ...
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Still under the influence
Everyone in the US says that they want 'clean' elections. But until the long-threatened reform in campaign finance actually occurs, Washington decision-making will always be influenced by corporations, unions and professional interest groups via political action committees (PACs). Witness United Parcel Service. Its PAC, a legal entity set ...
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Appointments
Edward Methot is the new vice president of flight operations at America West Airlines. Swissair has appointed Klaus Knappik head of the cargo and logistics division. Crossair has appointed Josef Felder EVP of the new product management division. Juhani Suomela has become Finnair's EVP ...
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Government
The Indian government is set to implement FANS by the third quarter of 1996 in the Calcutta Flight Information Region. This will allow for new routes to be opened up through the congested Bay of Bengal. Source: Airline Business
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Aircraft news
Philippine Airlines has confirmed firm orders for four A340-300s, eight A330-300s and 12 A320s with deliveries starting in the second quarter of 1997. Swissair has ordered a further three A319s and two A320s. Finnair is set to order four B757s for charter operations, replacing two A300s. ...
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ONUR Airlines A321
Turkish charter airline Onur Air took delivery of the first of its three Airbus A321s on 24 April. Source: Flight International
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Up in smoke
Qantas is facing a showdown with its unions over a move to extend workplace smoking bans. The airline has barred staff from smoking anytime they are in uniform, even outside work hours, and says anyone caught three times will be dismissed. Union officials argue the measure infringes civil liberties and ...
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Kenyan shares
The sale of 48 per cent of Kenya Airways to local and international investors looked set to be massively oversubscribed after the offer price was set at KS11.25 ($0.19) per share against an asset value of KS17.38 per share. The issue was due to close in mid-April. The carrier is ...
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Afrique rebels
Flight crew, cabin crew and ground staff unions at Air Afrique are threatening strike action in a bid to topple the carrier's president Yves Roland-Billecarte and his management team following the failure of a number of rescue packages, according to the International Transport Workers Federation. The carrier is predicting losses ...
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Double hubbing
Air France has modified operations at its Charles de Gaulle hub to create five waves of flights, with a maximum wait of 150 minutes for a connection. This should increase revenue by $200 million. Manchester airport has opened its 'Superhub' aimed at cutting transfer times between international and ...
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Claiming less
Aviation insurance claims fell in 1995, with worldwide hull losses totalling $434 million, according to the Financial Times. This was half the level of 1994, one of the worst years. Source: Airline Business
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Building more
Boeing will raise the production rates of 737s, 747s and 757s starting in 1997. The 737 production will increase to 10 aircraft a month from eight and a half, the 757s will increase by one aircraft to four, and 747 production will increase by half an aircraft to four per ...