24.02.2021 - 03:14 UTC
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19.02.2021 - 09:12 UTC
De Havilland Aircraft of Canada (DHC, Toronto Downsview) has confirmed earlier reports that it will suspend its DHC-8-Q400 production line, located at Toronto Downsview, beyond the aircraft currently on firm order. It did, however, vow to resume assembly in the future, albeit at another site.
"We fully expect worldwide demand for the Dash 8 to return once the industry has recovered from the pandemic, and the aircraft's characteristics - including low operating costs, low emissions impact, and performance capabilities that support efficient regional operations - will make the Dash 8 an important part of the aviation industry's post-pandemic recovery," the Executive Chairman of De Havilland's parent company, Longview Aviation Capital, David Curtis said.
According to the ch-aviation fleets advanced module, the Canadian manufacturer currently has firm orders for eighteen DHC-8-Q400s. However, only nine of them have been assigned to identified airline customers (three each for TAAG Angola Airlines and Ethiopian Airlines, two to Biman Bangladesh Airlines, and one to Air Tanzania), the other nine orders are for...
11.02.2021 - 20:04 UTC
Banks that have extended loans to cash-strapped SpiceJet (SG, Delhi Int'l) have warned the carrier against any moves to separate SpiceXpress, its cargo arm, by placing it in a wholly-owned subsidiary without consulting them first, the Hindu Business Line has reported.
On February 10, SpiceJet released a list of resolutions that its shareholders had agreed to at an annual general meeting on December 24, which it placed on its website together with its unaudited financial results for the third quarter ended December 31.
Among other resolutions, the shareholders “authorised the board to transfer by way of sale or otherwise the cargo business of the company to its wholly-owned subsidiary, namely SpiceXpress and Logistics Private Limited.”
This would be done ahead of “plans to add more cargo aircraft to scale up SpiceXpress’s existing capacity and transform it into a fullscale freighter cargo service.”
SpiceJet has taken multiple loans from institutions such as City Union Bank, Export Development Bank, Allahabad Bank, IDFC First, ICICI Bank, and YES Bank, but an unnamed source close to the lenders...
10.02.2021 - 17:59 UTC
GoAir (G8, Mumbai Int'l) has revived plans to raise cash, reportedly INR30 billion rupees (USD411.8 million), by launching an Initial Public Offering (IPO), an anonymous “top official” at conglomerate parent Wadia Group has told the Economic Times.
The low-cost carrier has been looking to go public since it first mooted the idea in October 2015 and has on several occasions opened negotiations with financial institutions on their possible role as underwriters. In this instance, it has allegedly appointed Citigroup, Mumbai-based ICICI Securities, and Morgan Stanley as the bankers, the source claimed.
This time around, however, the airline itself has so far refused to comment on the issue.
“We are looking at raising long-term funds and reducing debt. We have been told that given the current market sentiment it is the right time to raise resources,” the official told the newspaper.
Wadia Group, which besides fully owning GoAir also runs clothing, food, and property businesses, is likely to dilute 30% of its stake in the carrier, the source said.
GoAir has taken...
