Airlines
Aveos rejects Air Canada financing offer
Air Canada said that it's disappointed that Aveos Fleet Performance Inc.'s (Aveos) has decided to reject its offer of $15 million in emergency financing and instead permanently cease operations. Air Canada said that if accepted, the $15 million Debtor-in-Possession (DIP) financing could have assisted in stabilizing Aveos for the benefit of its employees and stakeholders and supported an orderly restructuring. This stabilization would have permitted Aveos to reopen certain of its facilities and recall certain of its employees, which would have in turn allowed Air Canada to provide additional...
Air costs choking opportunity: TIAC
Canada's outmoded aviation cost structure is choking off one of Canada's great economic opportunities - that's the message that Tourism Industry Association of Canada (TIAC) president and CEO David Goldstein delivered to the Senate Standing Committee on Transport and Communication last week. In his presentation, Goldstein reiterated the tourism industry's call for a full review of Canada's aviation cost structure, explaining that Canada's high taxes and fees serve as a disincentive for both domestic and international travel to and within Canada. "Canada is a 'fly-to' destination,"he said. "A...
Air Canada responds to Aveos closing
Air Canada has provided the following comments concerning Aveos Fleet Performance Inc. (Aveos), a separate and independently owned and managed supplier to Air Canada that provides maintenance, repair and overhaul (MRO) services to airlines, including Air Canada. Air Canada has been advised that Aveos has filed for insolvency protection under the Companies' Creditors Arrangement Act (CCAA). According to officials, these events at Aveos, while disappointing, have no impact on Air Canada's day-to-day aircraft maintenance and repair activities, referred to as "line maintenance."The airline's line...
Direct Air files for bankruptcy
Just days after stopping service and leaving travellers stranded, the parent company of discount airline Direct Air has filed for bankruptcy protection. Southern Sky Air & Tours LLC filed for Chapter 11 protection in Massachusetts on March 15. Direct Air, based in Myrtle Beach, S.C., stopped flying on March 12, with reports saying it couldn't pay its fuel...
Etihad offers stopover passengers free accommodation
Etihad Airways is offering one night's free accommodation to passengers stopping over in Abu Dhabi for a minimum of two nights before Dec. 1. The Essential Stopovers offer, part of the Essential Abu Dhabi program, can be redeemed at 25 hotels, ranging from three- to five-star. Further nights in five- and four-star accommodation can be purchased at rates as low as US$59 p.p., based on twin occupancy, and US$43 for three-star accommodation. Etihad passengers taking advantage of the stopover offer can also enjoy two-for-one deals at Ferrari World, Saadiyat Beach Golf Club, Abu Dhabi Golf Club,...
Austrian receives capital for all-round renewal
Austrian Airlines has been given the green light from Frankfurt for its Work Program that was presented in January. Parent company Lufthansa will support Austrian Airlines with a conditions-based capital increase of up to 140 million euros. The funds will be used to prepare the harmonization of the medium-haul fleet and the consequent restructuring. As part of this, a transition of the flying staff of Austrian Airlines to the collective agreements of Tyrolean Airways might take place. Therefore, according to officials, nothing will change for customers: Austrian Airlines will continue to be...
Book Qatar, win Louis Vuitton
When travel agents book their clients on Qatar Airways through Intair, Network or Fun Sun, they will be automatically entered in a draw to win one of three Louis Vuitton prizes. Available across the country, this promotion applies to all Qatar Airways flights booked and issued between March 1 and April 30, 2012, for travel anytime. Each ticket automatically earns the agent a ballot (or five ballots for business class bookings) in the draw where they can win one of three Louis Vuitton travel items û a passport holder, a toiletry pouch, or the grand prize, a Keepall luggage piece. The draw...
Fuel hits Transat’s Q1 Results
Transat A.T. Inc. reports that it had revenues of $829.3 million for the quarter ended Jan. 31, 2012, compared with $810.2 million in 2011 -- an increase of $19.1 million, or 2.4%. It had an operating loss of $31.8 million, compared with $14.5 million in 2011 and a net loss of $29.5 million ($0.77 per share on a diluted basis), compared with $13.4 million ($0.35 per share on a diluted basis) in 2011. Before non-operating items, Transat had an adjusted after-tax loss of $29.9 million in 2012 ($0.79 per share on a diluted basis), compared with $19.3 million ($0.51 per share on a diluted basis)...