Finnair's financial condition strengthened

Finnair’s turnover grew in the first quarter by 9% to 577 million euros. The operational result strengthened to 11 million from nearly 6 million euros the previous year. “Following last year’s good profit development, we have entered this year in a good position. Finnair’s balance sheet position is strong and our business is fundamentally in good shape,” says Finnair President & CEO Jukka Hienonen.

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Silverjet enters into MOU with UAE based investor

Silverjet, the British exclusively business class airline, announces an update on its working capital position and that it has entered into a memorandum of understanding with a UAE based investor (the “Investor”). Following recent material increases in fuel prices and tightening of credit conditions in the airline industry, Silverjet’s working capital has deteriorated and its residual reserves are limited. The MOU entered into April 29, 2008 provides that approximately $25.0 million (12.7 million pounds Sterling) will initially be invested directly in Silverjet by means of debt and equity. It is anticipated that the equity element will amount to approximately $8.0 Read more

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Lion Air takes delivery of 10th 737-900ER

Jakarta-based Lion Air took delivery of the airline’s 10th Next-Generation 737-900ER (Extended Range) airplane. The airplane will be used by the airline to expand its service with new destinations throughout South and Southeast Asia. The airline’s 737-900ERs are equipped with performance-enhancing Blended Winglets. Lion Air, which operates an all-Boeing fleet and is the largest low-fare airline in Asia, serves nearly 1 million passengers per month. The airline began operations in June 2000.

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Mesa Air Group takes delivery of sixth Delta Connection CRJ-900

Mesa Air Group reported the arrival of the sixth of 14 Bombardier CRJ-900 Next Generation aircraft operated for Delta Connection by its wholly owned subsidiary, Freedom Airlines. The operation of these new aircraft was first announced in March 2007 and at that time represented an expansion of the agreement that was already in place between Mesa Air Group and Delta Air Lines. The aircraft which operate in the New York, JFK and Dallas, Fort Worth markets are configured with 12 First Class and 64 Coach Class seats. The first aircraft entered revenue service on November 1, 2007 and the remaining Read more

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Rolls-Royce completes successful first run of BR725 engine

Rolls-Royce has successfully completed the first run of its BR725 engine at its facility in Dahlewitz, Germany. The selection of the engine to power the new Gulfstream G650 aircraft was announced last month. The 16,100lb thrust BR725 is the most advanced member of the BR700 engine series and the sixth new powerplant added to the company

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WestJet increases first quarter net earnings 75.9%

WestJet announced record first quarter net earnings of $52.5 million, a 75.9% increase over the $29.9 million in the first quarter of 2007. The airline’s diluted earnings per share (EPS) for the first quarter was 40 cents compared to 23 cents in the same period last year, an increase of 73.9%. First quarter revenue was $599.3 million compared to $470.7 million in the first quarter of 2007, an improvement of 27.3%. Operating margin for the quarter was 13.8%.

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Airbus opens material and logistics centre in the Middle East

Airbus Material and Logistics Centre in the Middle East has been officially opened at the Dubai Airport Free Zone in the United Arab Emirates. The Material and Logistics Centre covers over 3,700 square metres of storage space and office facilities ensuring optimised logistics and efficiency. The 24 hour a day centre will stock more than 5,000 different parts with around 43,000 items in at any one time, offering customer support and aircraft spares distribution to regional and worldwide destinations 24 hours a day. The opening of the Materials and Logistics Centre gives Airbus greater proximity to valuable customers, and facilitates Read more

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Tunisair chooses A350s, A330s and A320s to modernise and expand its fleet

North African airline Tunisair has signed a letter of acceptance of the Airbus proposal for the acquisition of three A350-800s, three A330-200s and ten A320s, as part of an important fleet development plan that will modernise and expand the fleet of this growing airline. With this acquisition, Tunisair is the third African airline to order the all-new A350 XWB. Tunisair currently already has 12 A320s, four A319s of which two with extended range capability and three A300-600s in operation. The all-new, eco-efficient A350s will provide the right aircraft for the long-term development plans of Tunisair for long haul routes to Read more

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