New York (AirGuideBusiness - Airline Finance News North America) Nov 27, 2011
Aeroflot, Airbus, Sukhoi, Rostechnology, Boeing Aeroflot to modernize subsidiariesO fleet with A320s, SSJ100s. Aeroflot plans to modernize the fleet of its subsidiaries with Airbus A320s and Russian regional aircraft Sukhoi Superjet 100s, SU CEO Vitaly Savelyev said. OAeroflot now prefers A320s and in [the] future these aircraft will partly renovate the fleet of our subsidiaries. These aircraft will serve international flights primarily,O said Savelyev, adding that the company is considering using SSJ100s in the Far East. Aeroflot has 30 SSJ100s on order, to be used on its domestic routes. This week the carrier received its third aircraft. In 2010, the Russian government decided the largest Russian carrier would get six airlines belonging to Russian state corporation Rostechnology, in a deal valued at RUB 2.5 billion (USD81 million). Four airlines are based in the European part of Russia: Rossiya Airlines (FV), OrenAir (R2), Saratov Airlines (6W) and Mineralnye vody-based KMV (KV), which ceased operations this summer to become part of Donavia. The other two are Far East-based carriersNVladivostok-Avia (XF) and SAT Airlines (HZ) in Yuzhno-Sakhalinsk. Last year, Rostechnology finalized an order with Boeing for 50 737NGs with purchase rights for an additional 35 aircraft, in a deal valued at USD3.7 billion, to be leased to SU. Aeroflot subsidiaries use different aircraft types. FV operates A320s and 737s but is planning to remove its 737s soon, while R2 operates 737s. XF operates A320s, A330s and Tupolev Tu-204-300.
Nov 14, 2011
Air Methods Air Methods Receives NASDAQ Notice of Non-Compliance. Air Methods Corporation announced today that on November 11, 2011, the Company received a letter from the Nasdaq Stock Market stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1). The Company anticipated receiving such letter because, as previously disclosed, the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2011, which was filed on November 9, 2011 with the Securities and Exchange Commission had not been reviewed by an independent public accountant in accordance with Statement of Auditing Standards No. 100, Interim Financial Information ("SAS 100"), thereby causing the Form 10-Q to be untimely filed with the SEC. As previously disclosed, the Company is awaiting a response from the SEC regarding the appropriate GAAP interpretation of ASC 840-10-25-14, which may impact the Company's presentation for aircraft leases. The Nasdaq letter further states that the Company has 60 calendar days to submit a plan to regain compliance with the Nasdaq Listing Rules. If Nasdaq accepts the Company's plan, then Nasdaq can grant up to 180 calendar days to the Company to regain compliance. The Company expects to regain compliance with the Nasdaq Listing Rules prior to the date on which it would need to submit a plan to regain compliance with the Nasdaq Listing Rules. The Company is issuing this press release to satisfy its obligations under Nasdaq Listing Rule 5810(b). Air Methods Corporation (www.airmethods.com) is a leader in emergency aeromedical transportation and medical services. The Hospital Based Services Division is the largest provider of air medical transport services for hospitals. The Community Based Services Division is one of the largest community-based providers of air medical services. Products Division specializes in the design and manufacture of aeromedical and aerospace technology. Air Methods' fleet of owned, leased or maintained aircraft features over 400 helicopters and fixed wing aircraft. Nov 16, 2011
Airbus, EADS, Boeing Airbus, Boeing fly high with orders from Dubai Airshow. Boeing and Airbus proved to be winners at the Dubai Airshow held this week in United Arab Emirates. Boeing received USD18.56 billion in new orders, while Airbus received USD13.71 billion in firm orders. "We're really bullish on the Middle East because the Middle East is bullish on aviation," said Airbus Chief Operating Officer John Leahy. Nov 17, 2011
Airbus, EADS, Boeing Gulf demand lifts Dubai air show. The world's top planemakers issued bullish forecasts for demand from the Middle East on Monday, underlining the region's importance to the industry a day after Boeing unveiled a blockbuster deal to sell 50 of its 777 jetliners to host airline Emirates. The U.S. company predicted that airlines in the Middle East would need 2,520 airplanes worth USD450 billion by 2030, while its European rival Airbus said it saw demand for 1,920 aircraft worth USD347 billion in the same period. "We believe that our customers will have the ability to weather the storm in Europe and the Middle East is booming," Habib Fekih, president of Airbus Middle East, told Reuters. The forecasts and Emirates' USD18 billion order for 50 wide-body Boeing jets boosted the showcase event and pushed talk of global recession to the sidelines -- though analysts said getting aircraft financing was proving an increasing challenge. Qatar Airways was expected to give the final word on possible Boeing and Airbus orders at the show while sources familiar with the matter said Abu Dhabi's Etihad had struck a USD2.5 billion deal for 12 Boeing jets on the show's sidelines. The Gulf's big three are buying wide-body aircraft to serve Asia and the United States and redraw the world's transport and logistics map with the Gulf at the center, thanks to its ability to reach most of the world's population in one long-haul hop. Kuwaiti lessor Alafco placed a USD4.6 billion expanded order for 50 Airbus A320neo passenger jets, adding to the flood of orders. Middle East demand makes up 8 percent of anticipated global aircraft demand over the next 20 years but 11 percent by value. Tinseth said the UAE alone could soak up 1,000 aircraft deliveries in the next 20 years as they access foreign markets. Alafco's chairman Ahmad Al Zabin said he was not greatly concerned about economic turmoil in Europe derailing long-term aircraft demand, especially in the Middle East. "We are talking long term; what is happening now is short term," he told a news conference. The expansion has provoked sharp exchanges between Gulf carriers and European airlines which accuse the region's carriers of expanding on the back of subsidies, something they deny. "The three big Gulf airlines are attacking other people's traffic. They are converting oil wealth into an aviation market position," said aerospace analyst Richard Aboulafia of Virginia-based consultancy Teal Group. Gulf airlines say they simply operate a better service, but geography is also on their side. The Gulf region is reachable from nearly every major city on earth in a single flight given the range of modern jetliners, making it a natural global hub for passengers and cargo. Airline chiefs played down the risk of contagion from Europe's debt crisis, but the head of Boeing's commercial division said it was a "watch item" and Brazil's Embraer trimmed a forecast for business jet deliveries due to the downturn. Still, the sales chief of Airbus warned that European lenders, especially French banks, which have been major financiers for Middle East carriers' deals, have become risk-averse because of the eurozone debt crisis. "We are watching it carefully," John Leahy said at a news conference. "We have done some aircraft financing in euros. Some European banks are having trouble accessing U.S. dollars ... this is more of a short-term thing than anything else." Record sales of the Boeing 777 capped by the Emirates announcement, which was attended by the ruler of Dubai, could force Airbus to do another rework of its future A350, Aboulafia said. Few if any A350 orders are expected at the show, but sales chief John Leahy said he felt under no pressure to drum up new sales for the aircraft, whose development has been delayed. The biennial November 13-17 takes place amid rising international tensions after a United Nations watchdog report expressed concerns over possible military dimensions to Iran's nuclear activities, which Tehran calls entirely peaceful. "On the military side, Iran is always a factor that is the number one security threat to the (Gulf Arab) states," Theodore Karasik, the Director of Research and Development at the Institute for Near East and Gulf Military Analysis, said. No major military deals have been signed at the show but contractors believe security concerns and Gulf support for operations in Libya could boost sales to the region. Andrew Shapiro, U.S. assistant secretary of state for political and military affairs, was among a large U.S. delegation visiting the show to support U.S. allies. "We want to work with them on all their security needs and one of the reasons I am at the show is to meet with many of our partners to talk about ways in which U.S. companies can fulfill their defense needs," he said. "It doesn't hurt. These are serious governments and serious partners of the United States and Boeing," said Jeff Johnson, President of Boeing Middle East. Nov 14, 2011
Alaska Airlines, Aircraft Mechanics Fraternal Association Alaska Airlines and Its Aircraft Technicians Ratify New Five-Year Contract. Alaska Airlines and the Aircraft Mechanics Fraternal Association (AMFA) announced that the carrier's 626 aircraft technicians and related employees have ratified a new five-year contract. The agreement includes annual pay raises, additional job protection provisions, a long-term contract bonus, and a shared commitment between Alaska Airlines and AMFA to work on minimizing health-care cost increases. "This contract recognizes the professionalism and skill of our technicians and provides long-term security for our employees, the union and the airline," said Fred Mohr , Alaska Airlines' vice president of maintenance and engineering. Alaska Airlines and AMFA reached a tentative agreement on the new contract in...