Feeds:
Posts
Comments

Posts Tagged ‘Millions’

Air France announced that it has agreed to pay 25% of stake in Italy flag carrier Alitalia for $432 million. CAI, the current owners of Alitalia seem pleased on selection of Air France – KLM over Lufthansa that had bid on the stake too.

From Mizozo.com

Alitalia declared bankruptcy on Aug 29th 2008 and has been subjected
to various suiters like Lufthansa, etc. The future of the airlines was
in grave danger esp. due to it past financial records and current labor
problems. CAI decided to combine Alitalia with Air One and get a
minority foriegn partner for which Lufthansa and Air France showed
interest.

Lufthansa’s Bid

Officials
from Lufthansa complained that they were not provided the required
information to provide a firm bid despite the fact that they were the
earlier of the suitors for buying the airlines.

Read Full Post »

New runways will be opened at three major US Airports – Chicago’s O’Hare International Airport, Washington DC’s Dulles International Airport and Seattle’s Seattle-Tacoma International Airport. The propose cost for the new runways is around $450 million (Chicago), $350 million (Washington DC) and +$1 billion (Seattle). The runways are supposed to reduce the current delays at the airports and provide capacity for future increases in demand. 

These are great moves for the airline industry. But there is a problem – since most of the airlines have reduced their capacities and there is a weakening demand due to the current recession, the new runways might not be of much use in the near future.

Personally, I think of all the airports, New York’s Airports (Newark, LaGuardia and JFK) and Philadelphia’s International Airport can all definitely use an additional runway. 


Some facts from CNN

Washington Dulles International Airport will get a fourth runway, its first runway addition since the airport opened in 1962.
Chicago’s O’Hare International Airport’s new runway is part of a
massive, multi-billion dollar modernization program. Previously, six of
the airport’s seven runways intersected. When the entire project is
completed in 2014, the airport will have eight runways in parallel
configurations considered safer and more efficient.
Seattle-Tacoma International Airport’s new runway is being especially
welcomed because of the region’s notoriously wet climate. The airport’s
third runway will allow planes to take off and land two abreast during
inclement weather. The current runways are too close to allow
simultaneous operations in foul weather. Airport officials claim the
new runway will cut delays in half.

Read Full Post »

Qantas Airways and British Airways have agreed to pay a combined fine of $15.5 million (equivalent Australian $25 million) to “charges price-fixing charges brought
by Australia’s Competition and Consumer Commission
“. The price fixing charges were related to fuel surcharges applied to International Cargo shipments from 2002 to early 2006.

Qantas will pay around $12.2 million (Australian $20 million) while British Airways will have to pay the rest of A $5 million.

From Bloomberg

“Qantas apologizes unreservedly for the conduct of the
employees involved,” the airline said in a statement. Once the
agreement is accepted by the court, the liability for Qantas and
its current employees will be settled, the airline said.
BA has paid a total of $677 million in fines and class-
action settlements related to price-fixing investigations by
U.K. and U.S. regulators into fuel surcharges on cargo and
passenger flights. The European Union also is investigating
cargo-related antitrust violations.

Read Full Post »

Europe’s second largest airline, Lufthansa announced that it agreed to buy 45% of Belgian Airline, Brussels Air for 65 million euros or $92 million. The German based carrier has an option to buy the remaining 55% of the company starting 2011 which might (depends on performance related factors in 2010) bring the total price to the deal for 250 million euros.There was earlier news that Lufthansa might be considering bids for Austrian Airlines, Scandinavian carrier SAS and BMI of UK.

From Bloomberg Article

Lufthansa’s CEO Wolfgang Mayrhuber told reporters that, that the carrier is becoming a “house of
brands.” He declined to discuss possible takeover offers.“Europe needs to have an airline system that can, in the
long term, compete with big systems that are coming up in Asia,
the Middle East and in North America,” Mayrhuber said. “This
is one step in going forward.”

Read Full Post »

Earlier I had blogged about the world’s most expensive private jets. Since the Hawker 4000 is below 30 million tag to qualify for the top ten, I had completely ignored it, but got a renewed interest recently with CNN and Fortune reporting about it.

Features of this business jet –

  • Price Tag$21,000,000 ($2 mil cheaper than Gulfstream G200 and $7 mil cheaper than Falcon DX)
  • Range – 3,28- nautical miles (US coast to coast or NYC to London)
  • Fuselage – Composite-body (70% stronger than Aluminum, does not corrode, easier to repair and no life limit) jet composed of 3 pieces.
  • Cutting Edge – cutting-edge avionics, auto throttle, and multiple duplicate systems (for safety) unavailable in comparable-size jets
  • Luxury – More interior space (average of 6 feet head room), unlimited leather, wood floors, 8-12 passenger accommodation (8 with 4 pairs of club chairs with writing tables), Digital Cabin air conditioning and pressurization systems.
  • Wait – Due to fractional private jet ownership companies like NetJet, etc. the current wait is somewhere around 2.5 years.

From CNN

“Which is why I was particularly curious to take a joy ride in July on
the brand-new Hawker 4000, the first plane to offer big-jet safety and
technology features at a midsized-jet price.”

For more information from Hawker Beechcraft Website –
Cabin Tour
Cockpit Tour
Specifications

Read Full Post »