Russia's Volga-Dnepr Group orders two Boeing 747-400ER freighters

AirBridge Cargo Airline of Russia has ordered two 747-400ER freighters from Boeing. The aircrafts, with a list price value of $450 million, are scheduled for delivery in October 2007 and February 2008 and will be powered by General Electric CF6-80C2B5F engines. AirBridge Cargo currently operates two Boeing 747-200F and one Boeing 747-300. The company is considering different aircraft types to support the strategic development of its route network. AirBridge Cargo plans to operate a mixed fleet of Boeing 747 freighters on trunk routes and Russian-built Ilyushin-76, AN-12 or Tupolev 204 freighters on regional feeder flights. Looking forward AirBridge Cargo will Read more

Email Post to a Friend Email Post to a Friend

U.S. Department of Transportation proposed new foreign ownership rules

The U.S. Department of Transportation proposed new rules to help US airlines to raise foreign money. U.S. airlines would have more opportunities to obtain financing from investors under a new rule announced today by U.S. Secretary of Transportation Norman Y. Mineta. The proposed rule would allow international investors more say in some aspects of airline operations, but retain current domestic ownership and labor protections in U.S. airlines, Mineta said. The notice of proposed rulemaking would allow global investors more input in marketing, routing and fleet structures. However, the proposal would ensure current protections guaranteeing that U.S. citizens own at least Read more

Email Post to a Friend Email Post to a Friend

WestJet's third quarter earnings increase 43%

WestJet, Canada announced its 2005 third quarter results with net earnings up 43.6% to CDN$30.3 million compared to CDN$21.1 million achieved during the same period last year. In the first nine months of 2005, the airline achieved net earnings of CDN$23.0 million compared to CDN$29.1 million during the first nine months of 2004. Operating revenue increased 30.9% this quarter to CDN$406.1 million from CDN$310.3 million attained in the third quarter last year. Year to date, operating revenue grew to CDN$1.0 billion, an increase from CDN$784.3 million during the same period in 2004.

Email Post to a Friend Email Post to a Friend

CAE's revenues increased by 19%

CAE today reported financial results for the second quarter ended September 30, 2005. Earnings from continuing operations were $17.8 million, or $0.07 per share, which compares to second-quarter earnings of $12.8 million or $0.05 per share in the prior fiscal year. All financial information is in Canadian dollars. Excluding non-recurring items, earnings from continuing operations for the quarter were $0.08 per share, which on the same basis compares to $0.05 in the second quarter last year. Consolidated revenues from continuing operations increased 19% to reach $280.3 million, compared to $235.1 million in the second quarter last year.

Email Post to a Friend Email Post to a Friend

Northwest still hopes to reach out of court agreement with unions

Northwest Airlines filed an 1113(c) motion with the bankruptcy court on October 12 to secure labor cost savings if the company and its unions do not achieve consensual agreements (as previously reported).Northwest has been in discussions with The Air Lines Pilots Association (ALPA), The International Association of Machinists and Workers (IAM), and The Professional Flight Attendants Association (PFAA) regarding the possibility of extending the deadline for the Section1113(c) hearing to mid-January in order to allow all parties more time to reach consensual labor cost saving agreements. In light of Northwest

Email Post to a Friend Email Post to a Friend