Finance and economy
3,203 news found
Finance and economyAmadeus acquires Karavel's tour operator
Madrid, Spain - For EUR 60m in cash
The Spanish travel reservation, Amadeus, said its Internet unit Opodo acquired French tour operator Karavel for EUR 60m in cash. Karavel owns the travel company Promovacances, one of the largest French... more
Finance and economyThe Belgian Government will sell-out its "Brussels International Airport Company" stake
Brussels, Belgium - Many societies are entering the list
Brussels International Airport Company, BIAC, communicated, today, that the Belgian federal government has been manifested the intension to reduce its stake still further 63,6%. At date the BIAC asserted... more
Finance and economyAsian carriers shares are on an upward trend
Tokyo, Japan - Oil price reaches USD 50 a barrel and then stops
Oil price after reaching USD 50 a barrel, it seems during the first week session it have been stopped, aiding Asian carriers shares on an upward trend in market. Cathay Pacific Airways shares are positive,... more
Finance and economySnecma at the stock exchange by June
Paris, France - The opening to the market will be 30/40%
The launch at the stock exchange of Snecma, French airplane engine constructor, which opening to the market will be 30/40%, should occur by nect June. It has been announced by the group's president, Jean-Paul... more
Finance and economyBAE named the new chairman
London, England - In July the leadership change
London Bae Systems, the more important aerospace and military industry of Great Britain, named Dick Oliver as new chairman. Oliver, 57 years, on 1st July of this year, will take over from Sir Richard Evans,... more
Finance and economyUrgent strategies for hi-tech
Rome, Italy - Appeal of Giorgio Zappa, President of Alenia
Giorgio Zappa, President and General Executive Manager of Alenia Aeronautica, have asserted to the Industry Commission of the Senate, the necessity of an urgent definition of the strategies for hi-tech... more
Finance and economyMiddle East: the highest air transport increase of the world
Rome, Italy - Registered a 13% increase
International Air Transport Association declared to have registered in Middle East an air transport increase of 13%, achieving the highest increase percentage of the world. The datum is caused by the... more
Finance and economySN Brussels Airlines and Virgin Express in only one holding
Brussels, Belgium - Signed a letter of intent that plans the fusion
Virgin Express, low-cost carrier owned by the English multimillionaire Branson and SN Brussels Airlines, Belgian carrier born from the ashes of Sabena, announced to have signed a no-binding letter of intent... more
Finance and economyAlghero: Sogeaal directors acquitted
Alghero, Italy - The investigating magistrate: "They acted to improve the structure"
The directors and the auditors of Sogeaal, management society of the Alghero-Fertilia airport, had been acquitted from the charge of duty abuse in regard to the investigations into the financing for the... more
Finance and economyFuel value increase: flight fares rise
Rome, Italy - Negative signals for the American carriers
The further increase of the fuel price is causing significant problems in the cost organization of the main American carriers. Delta Airlines had to reconsider the cost estimate made in January, Continental... more
Finance and economyCost cut at Japan Airlines System
Tokyo, Japan - Work force reduced of 8%
Japan Airlines System planned a cost cut to resolve the economic crisis by reducing its work force of 8%. The reduction will take place in the next three years, by not replacing the workers who quitted... more
Finance and economyAeroporto di Firenze - AdF Society - : 2003 business plan approved
Florence, Italy - Strong profit decrease
The Aeroporto di Firenze Board of Directors yesterday approved the 2003 business plan, registering an operative result of EUR 919,000 (-44,8%) and a 32,9% profit decrease (EUR 738,000) compared to the... more
Finance and economyVolare Group: capital increase of EUR 80m
Rome, Italy - Appointed the new Board of Directors: Giorgio Fossa President
Volare Group informed last Tuesday of a capital increase of EUR 80m, as well as a medium-term extension of the debts towards some suppliers equivalent to EUR 120m. The capital increase has been subscribed... more
Finance and economyParmatour can issue air tickets again
Rome, Italy - Iata had ordered the suspension of the service
The touristic companies of the Parmatour group can issue tickets again. It was decided today in agreement with Iata (International Air Transport Association), which had previously suspended the group's... more
Finance and economy"Altroconsumo" contests agreement between Alitalia and travel agents
Brussels, Belgium - Customers will pay more for the tickets of the national carrier
In the past few months, representatives of the category of travel agents have argued over the unilateral decision taken by Alitalia regarding a cut of the commissions on the sale of air tickets paid by... more
Finance and economyStock Exchange: Alitalia gains 1,95%
Milan, Italy - After Monti's announcement of the UE green light for the fusion with Air France
Alitalia flies high at the Stock Exchange (+1,95%) after the news released by the UE Commissioner, Mario Monti, about the positive orientation of the Commission to give green light to the business alliance... more
Finance and economyLufthansa to increase stake in Eurowings
Berlin, Germany - It will increase its stake to 49% for EUR 10m
Deutsche Lufthansa AG will increase its stake in the affiliate Eurowings Luftverkehrs AG as Albrecht Knauf, the majority owner, cuts his stake. Lufthansa will raise its stake from the current 24,9% to... more
Finance and economyNew aircraft for Russia
Moscow, Russia - Boeing-767 and Airbus A-320/319 in place of the old fleet
The Russian airline Aeroflot received on October 15th its first Airbus A-319 aircraft. The new aircraft is part of the company's fleet restructuring programme. Aeroflot is the largest state-controlled... more
Finance and economySnecma looks for share-holders
Paris, France – Privatization of the French company
The long waited privatization of the French plane engine manufacturing company could be finalised by next June. The crisis following the September 11 attacks delayed the privatization of the company which... more
Finance and economyIncreasing fees for the carriers
Washington, USA - Prices rise up to USD 12
During the week 29 September-4 October, airline ticket prices increased with USD 12 per round-trip ticket as result of a four-month tax break so as the budgets of the air companies recover after the Iraq... more
Finance and economySwissair shares stock suspended pending an announcement
Zurich, Switzerland - Probably an important financial deal
Swiss International Air Lines has communicated today the trade of its shares has been suspended waiting for an important communication today afternoon about which not a detail has leaked out; the trading,... more
Finance and economyLockheed Martin buys Titan for USD 2,4bn
San Diego, Usa - A giant in the defense field was born
Lockheed Martin has confirmed the acquisition of Titan Corp for USD 1,8bn as well as the assumption of the debt of the San Diego-based company that amounts to USD 580m, carrying the total of the operation... more
Finance and economyFrench government sells its 15,74% of Dassault Systems
Paris, France - An operation worth between EUR 530-580m
The sale of 15.74%-stake of Dassault Systems group will generate between EUR 530-580m and an official source of the government has declared "That the operation had been planned for a long time: we were... more
Finance and economyUE gives the green light to Finmeccanica-Carlyle agreement for the purchase of Avio
Brussels, Belgium - No risk for competition
The Commission of the European Community has given today the free light to the agreement of Finmeccanica and Carlyle for the definitive acquisition of Avio (former Fiat Avio). The transaction waited... more
Finance and economyMoody's Investors Service downgraded the debt rating of Jal and Ana
Tokio, Japan - Both of Japan's major air carriers to Ba3 from Ba1
Moody's Investors Service on Wednesday downgraded the debt rating of Japan Airlines (Jal) and All Nippon Airways (Ana) due to the impact of the Iraq war and Severe Acute Respiratory Syndrome (Sars).The... more
Finance and economySouth West Airlines second quarter profit
New York, Usa - Revenues superior to a year-ago levels
South West Airlines has stated the second quarter net profits are of USD 246m and added it has plan for expansion. It is the world’s largest and most successful budget operator. Boeing yet received an o... more
Finance and economyFunds raise for Gandalf: banks definitive proposals by the end of the month
Milan, Italy - Negotiations with Societe Financiere de Luxembourg SA go on
After the meeting between Gandalf Airlines lawyer and the procurator of Societe Financiere de Luxembourg SA, the agreement to improve Gandalf financial conditions is still valid. By July 30 the Administrative... more
Finance and economyMonti: it's needed conditions for an alliance between Air France and Alitalia
Brussels, Belgium - Otherwise a monopoly could take shape
The alliance between Alitalia and Air France risks, once again, to find on its way impediments of formal nature, because "It still raises important problems under the profile of the competition on a number... more
Finance and economyDhl Airways sold for USD 57m, now it's named Astar Air Cargo
Washington, Usa - Decided the purchase of 10 B-727/200s
An American investment group has acquired Dhl Airways for USD 57m, in a financial operation concluded yesterday. Now the new company, that will have its headquarter in Miami and will be guided from the... more
Finance and economyHsbc to finance Qatar Airways for the purchase of 2 A-321s
Doha, Qatar - They will operate the Gulf routes
It's the first time Qatar Airways and the English credit institution Hsbc conclude such an important transaction, and according to the first indiscretions could not be the last one. It deals with the... more
Finance and economyFinancing for the purchase of 2 A-230s from part of Qatar Airways has been assured
Doha, Qatar - They'll operate routes in Middle East
Qatar Airways, one of the airlines with the highest world growth rate, has signed a deal with Natexis Banques Pupulaires, for the financing that will serve to the carrier for the purchase of 2 A-320s,... more
Finance and economyFinmeccanica and BAe Systems sign a Mou: Eurosystems was born
Rome, Italy - It will be one of the biggest centre in the defense and electronic fields
It has been signed yesterday evening in Rome, the Memorandum of Understanding between the General Executive Manager of Finmeccanica (32.4% controlled from government), Pier Francesco Guarguaglini, and... more
Finance and economyThales is now part of Galileo Industries acquiring 12%
Paris, France - No indiscretion about the value of the deal
It has been signed a first Memorandum of understanding between the French group Thales (operating in the electronic and defense fields) and the European consortium Galileo Industries, according to which... more
Finance and economySigned the deal for the selling of FiatAvio, EUR 1,5bn the final price
Milan, Italy - The operation to be concluded by the end of 2003
It has been signed the agreement between Carlyle Group-Finmeccanica and Fiat for the assignment of FiatAvio, which will take shape through an "ad hoc" carrier, Aviation holding, 70 percent owned by the... more
Finance and economyFiatAvio selling is virtually ended
Tourin, Italy - The agreement for a figure slightly lower than requested from Fiat
According to reliable sources it is going to be concluded without dramatic turn of events the cession of FiatAvio to the Italian-American alliance formed by Finmeccanica and The Caryle Group; the only... more
Finance and economyIt ends today the Lufthansa's take-over bid for Air Dolomiti
Milan, Italy - Purchased more than 94%
The take-over bid launched from Lufthansa on Air Dolomiti ends today, but already yesterday the representatives of the German airline have asserted the operation has been a success; just on Thursday it... more
Finance and economyEads increases of 1.7% on the European stock exchanges
London, United Kingdom - Decisive the news of an Emirates order
Eads has increased of 1.7% on European stock exchanges for the news reported by an economic newspaper, that Arabic airline Emirates could announce an important order for an Airbus on next month. After... more
Finance and economyUSD 3,5bn to the Us airlines in order to damp the losses provoked by war
Washington, Usa - Congress allocates new funds in order to face up the war's costs
Us Congress has approved two amendments that authorize new funds in order to face up the costs of the war and in order to begin the reconstruction in Iraq. It has also allocated funds for the Us airlines,... more
Finance and economyAccording to International Monetary Fund the war costs will be high
Washington, Usa - In war case world economy will slow down
According to the International Monetary Fund (Imf), a long duration and diffused Iraqi conflict will have series consequences for the world economy. Imf economists hypothesis is that the war would prime... more
Finance and economyIn 2003 FMI expect a pil reduction
Paris, France - The uncertainty of world economic conditions hits Ocse countries
Fmi (International Monetary Fund) has reviewed the rating for the countries of Ocse area (Organization for Economic Development and Cooperation)in 2003. The economic survey, presented at G7 in Paris,... more
Finance and economyThe Iraqi war could cost 1% of the economic production
Sydney, Australia – The alarm has been launched by two Australian economists
"Also a short conflict would have the meaningful repercussions on the world-wide economy, but it considers the economic increase indices, these would not go towards a recession". This is the conclusion... more
Finance and economyRaytheon enquired in the Usa for suspect irregularities in the balances from 1997 to 2001
Washington, Usa - The enquiry has been started by Sec (Security and Exchange Commission)
The aeronautical industry Raytheon has been involved in an enquiry of Sec (Security and Exchange Commission) for some irregularities discovered in the balances presented from 1997 to 2001. Until now it... more
Finance and economyPolemics in Pakistan for a USD 2bn loan
Islamabad, Pakistan - Money should be used to buy new aircraft for the national air carriers
By some days in Pakistan is acting a strong polemic caused by the USD 2bn loan, that should be used to buy eleven new aircraft for the PIA (Pakistan International Airlines) that recently has also programmed... more
Finance and economyUs Airway avoid the bankruptcy
Washington, Usa - Reached a agreement with its dependents
The risk of bankruptcy for Us Airways is avoided after the agreement with its 13.500 dependents about cut in wages. The american airline has decided to cut down on expenses to avoid the bankruptcy. This... more
Finance and economyAir Canada will be delisted by Nasdaq
New York, Usa - The delisting will be operative by the next December 3rd
Starting from the next December 3rd Air Canada will be delisted by Nasdaq of Wall Street. The decision has been taken because the shares of the Canadian carrier do not guarantee enough incomes to its shareholders,... more
Finance and economyFraport interested to purchase Sea Holding
Milan, Italy - Albertini: " If there is new offers, it must be reserved"
In accordance with some indiscretions of press, the german Fraport, that controls the airport of Frankfort, would be interesting to purchase the Sea Holding, the society that is responsible to the ground... more
Finance and economyMidwest Express amends and extends bank credit facility
Milwaukee, Usa - Until August 30, 2003
Milwaukee-based Midwest Express Holdings has entered into an amendment to its bank credit facility that will extend until August 30, 2003. Terms of the amendment include an initial USD 25m commitment,... more
Finance and economyBoeing to record third quarter non-cash charges of approximately USD 250m
Chicago, Usa - To strengthen reserves and revalue certain investments amid continuing commercial aviation downturn
The Boeing Company announced today that it will recognize, on a pre-tax basis, certain non-cash charges that will reduce operating earnings approximately USD 250m. The expected after-tax impact to net... more
Finance and economyJapan Airlines System made its debut on the stock market
Tokyo, Japan - The holding company for the JAL-JAS merger
With the issue of 2 billion shares, Japan Airlines System Corp, the holding company created for the giant air carrier born from the merger of Japan Airlines and Japan Air System (JAL Group), formally made... more
Finance and economyBritish Airways shares fell at their lowest point
London, Uk - Even worst than during 1991 war in Iraq
Yesterday the shares price of UK's main air carrier British Airways touched its lower level ever, even worst than what registered in 1991 during the Gulf war. Traders marked BA shares down 8,75p to 95,75p,... more