Rolls-Royce wins $600 million Trent engine deal to power China Southern A380s

China Southern Airlines has selected Rolls-Royce Trent 900 engines to power its new fleet of five Airbus A380s. The deal is worth a total of $600 million. China Southern is the launch customer for both the Trent 900 and the A380 in China, with aircraft deliveries scheduled for late 2007. The announcement was made during a visit to China Southern’s headquarters in Guangzhou by Sir John Rose, Chief Executive of Rolls-Royce, which included the signing of a Memorandum of Understanding (MoU) on the deal. Seven out of the 11 A380 customers who have made engine selections have opted for the Read more

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Republic Airways November traffic shows 52% growth

Republic Airways Holdings Inc. reported for November 2005 434 million revenue passenger miles (RPMs), a 52.1% increase over the same month last year, while available seat miles (ASMs) increased to 632.5 million, a 52.2% increase. Load factor was 68.5% versus 68.6% in November 2004. A total of 778,845 passengers were carried during the month, a 19.0% increase over the same month last year.

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GATX to reduce aircraft portfolio by $450 million

GATX Corporation announced a plan to focus its aircraft leasing portfolio around its newer, more profitable aircraft. As part of this plan, GATX announced its intent to sell up to $450 million of older aircraft assets (including wholly owned and joint venture aircraft), or approximately 23% of its current air portfolio. In conjunction with this plan, GATX anticipates reporting after-tax, non-cash charges in the range of $110-$130 million in the fourth quarter of 2005. Sales of targeted aircraft are expected to be substantially complete by the end of 2006. Incremental gains or losses may occur as aircraft sales are completed.

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Finnair to buy 12 Airbus wide-body aircraft

Finnair announced to acquire 12 new Airbus wide-bodied aircraft, as it modernises its long-haul fleet. Of the aircraft, nine are A350s and three are A340s. The A340 aircraft are scheduled for delivery in 2007-08. The Airbus A350 will join the Finnair fleet in 2011. The value of the order is over one billion euros. The current MD-11 fleet of Finnair will be removed from service by 2012.

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