Avio selects Orazio Ragni as Chief Executive Officer

The board of Avio, a global leader in aerospace propulsion, has selected Orazio Ragni as Chief Executive Officer to be appointed with effect from December 9, 2008. The rapid global expansion of the aerospace industry makes a stronger international presence a key goal in Avio

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Daher to take majority interest in EADS Socata

Daher and EADS announced the conclusion of the agreement for Daher to acquire a 70% majority share in EADS Socata. “This Daher-Socata association will allow the creation of a leading European industrial player in the domain of aerostructures and open up new development prospects in general aviation, including for the new Socata aircraft project”, declared Jean-Michel L

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ANA reports revenue and incomes down in tougher operating environment

ANA reported its consolidated half year financial results for the interim period April 1 to September 30, 2008. The Group, which consists of airlines, travel and other businesses, reported an operating income of JPY49.8 billion and a net income of JPY22 billion on revenue of JPY753 billion – falls of 25.7%, 79.1% and 1.3% respectively – against a background of declining passenger numbers. Net income, in the same period in the previous year, had been boosted beyond normal levels by an extraordinary gain on the sale of ANA’s hotel properties. ANA executive vice president Finance, Tomohiro Hidema, said of the Read more

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Bristow Group completes sale of Gulf of Mexico aircraft to Rotorcraft

Bristow Group announced it has completed the previously announced sale of 53 single-engine aircraft and related assets operating in the U.S. Gulf of Mexico to Rotorcraft Leasing Company, L.L.C. for approximately $65 million. Bristow received approximately 20% of the purchase price at closing, with the remainder to be paid from escrow as title transfers are processed by the Federal Aviation Administration. In addition to the aircraft, the sale also included related inventory, spare parts, offshore fuel equipment and two operational bases. As a result of the sale, Bristow expects to record a pre-tax gain of approximately $40 million, or $0.72 Read more

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SAS Group to reduce surcharges

SAS Group have decided to reduce surcharges with 3 EUR on Domestic, intrascandinavian and European flights. On Intercontinental flights the surcharges will be reduced by 5 EUR. These changes will be valid as from November 12 and is motivated be a less volatile and lower oil price. At the same time the USD has strengthened and SAS continue to monitor the dollar and the oil price development

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Unite fears job cuts as airlines continue to consolidate

Unite, Britain’s biggest union, is seeking an urgent meeting with BMI management, to demand assurances from the company over jobs, following the news that Bmi Chairman, Sir Michael Bishop, is to sell his controlling stake to Lufthansa. The union is concerned that consolidation across the airlines will affect employment and that the fight for control of the already overloaded Heathrow runways between BA and it’s rivals, has little to do with maintaining customer service and high quality jobs. Unite National Officer Brian Boyd Stated. “The future may be bright for Sir Michael, but many loyal and dedicated workers are being Read more

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FAA grants Precision Aviation Group its third 'Unlimited' Capability Rating

Precision Avionics and Instruments (PAI) was granted an “Unlimited Avionics” rating from the Federal Aviation Administration (FAA). This new rating establishes PAG as one of only 22 FAA Repair Stations that have Unlimited Accessory, Unlimited Avionics and Unlimited Instrument ratings. Of the 22 repair stations that have all three of these “Unlimited” Ratings, 12 are either Aircraft Manufacturers or Original Equipment Manufacturers, putting PAI in an elite group of only 10 FAA Repair Stations that provide Maintenance Repair and Overhaul (MRO) services as their principle source of revenue.

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James Goodfellow joins the Board of Directors of Discovery Air

Mr. James Goodfellow has joined the Board of Directors of Discovery Air. Mr. Goodfellow is a Chartered Accountant and was made a Fellow of the Ontario Institute of Chartered Accountants in 1986 for distinguished service to the profession. He has over 40 years experience in public accounting and providing assurance and advisory services, primarily to large public companies. Mr. Goodfellow was a Vice-Chairman of Deloitte & Touche LLP prior to his retirement in May 2008 and was a member of that firm’s Board of Directors. He is a frequent speaker on issues related to financial reporting, corporate governance, securities regulation Read more

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Transportation Workers Union ratifies long-term agreement

Members of the Transportation Workers Union of America (TWU) at Frontier Airlines today ratified a long-term labor agreement with the airline. The agreement was negotiated to extend certain earlier agreed upon wage and benefit concessions. “I am gratified that the TWU membership continues to demonstrate, with this vote, their willingness to work hand in hand with Frontier’s management to move our airline to sustainability and future growth,” said Frontier President and Chief Executive Officer Sean Menke. “This agreement is very important in helping attract investors by contributing to our cost-reduction efforts.” “The TWU appreciates the joint effort made in reaching Read more

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Delta announces new officer team

Delta Air Lines released to its 75,000 employees the following memo announcing leadership changes following the company’s recent merger. Internal Memorandum To: Delta Colleagues Worldwide From: Richard Anderson and Ed Bastian Subject: The New Delta Officer Team Today we are pleased to introduce the officer team that will lead the new Delta and its more than 75,000 professional men and women worldwide. Complete organizational charts are available on DeltaNet, with some updates to the July announcement. Steve Gorman, who joined Delta in December 2007 as executive vice president – Operations, has been appointed to the position of executive vice president Read more

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