airBaltic reportedly plans to purchase a stake in Estonian Air, as part of plans to increase operations to Tallinn (The Baltic Course, 22-Feb-2010). The carrier stated it is yet to discuss the plans with Estonian Air, but is “ready to do it in any form”. Estonian Air is owned by SAS (49%), Estonian Government (34%) and investment bank, Cresco (17%). airBaltic currently operates from Tallinn to Riga, Turku and Lappenrantaa, and plans to launch services from the city to Tampere, Oulu and Vaasa.
airBaltic planning to purchase a stake in Estonian Air
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Oslo Gardermoen Airport seeks Asian flights to leverage tourism to Norway; perhaps the new Iceland
Oslo Gardermoen Airport has sat out the recent boom in Asian growth. This is not just in comparison to neighbouring Helsinki's rapid Asian growth in tandem with Finnair, but even more broadly. Norway is the largest Western European country without a flight to China, and is the smallest of Western European countries with flights to Asia. Its only destination is Bangkok.
This is a juxtaposition to Norway's strong credentials: maritime and gas businesses, a wealthy population (much more so than Finland's) for outbound travel, and untapped year-round tourism opportunity – not just for Oslo but for all of Norway, from fjords in the summer to northern lights in the winter.
New management at Oslo airport wants to regain the initiative in Asia. Norway has the credentials to follow Iceland's sudden rise in tourism, especially from China. Management is considering foreign airlines, since SAS is in low-growth mode and has historically favoured Copenhagen, and Norwegian Air Shuttle lacks US approval for the NAI license it seeks – but perhaps more importantly is unable to access Russian overflight rights.
HNA's Avolon group to acquire CIT Commercial Air, creating world’s third largest aircraft lessor
HNA Group’s remarkable spending spree continues, with the announcement that its Avolon subsidiary will acquire CIT Commercial Air, the aircraft leasing arm of CIT Group.
The USD10 billion deal will create the world’s third largest lessor - and they may be more to come yet.
Avolon itself was only recently acquired by HNA Group, with the USD2.7 billion purchase agreement being finalised in Jan-2016, via Bohai Capital Holdings.
Avolon is now the core aircraft leasing brand for the HNA Group. Including assets from Hong Kong Aviation Capital, Bohai Capital and several smaller HNA Group leasing firms, Avolon has a fleet of nearly 250 aircraft and almost 200 more on order.