Indigo Partners issued (01-Nov-2013) a statement regarding its pending acquisition of Frontier Airlines from Republic Airways Holdings. The company stated: "Good progress has been made on all fronts as we work to satisfy conditions to close Indigo Partners’ previously announced acquisition of Frontier Airlines from Republic Airways Holdings. We are pleased to note in this regard that a tentative agreement has been reached with FAPAInvest on commercial matters. While progress has been made, no agreement has been reached with Barclaycard about an extension of its credit card and associated line of credit. We continue to work with the Association of Flight Attendants and we believe all sides recognise the importance of an agreement to both the AFA membership and to Frontier. We remain hopeful that remaining conditions to closing can be achieved in the next few days." [more - original PR]
Indigo Partners: Good progress 'on all fronts' in Frontier Airlines acquisition
You may also be interested in the following articles...
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.
Norwegian Air's North Atlantic seats up 51% this summer, but longer term long haul growth needs NAI
Norwegian continues to await the long-delayed approval of a US foreign carrier permit for its Irish subsidiary Norwegian Air International (and for its UK subsidiary Norwegian Air UK). US traffic rights for these two subsidiaries would give Norwegian the opportunity to fly both east and west with the same operating airline and with EU traffic rights in both directions. This would increase the operational flexibility and cost efficiency of its long haul operations and allow lower fares on a greater number of routes.
Nevertheless, in the meantime and aided by low fuel prices, Norwegian is getting on with an ambitious trans-Atlantic expansion plan and has now carried three million passengers between Europe and the US since 2013. Its summer 2016 seat capacity has jumped by 51% year on year (based on OAG data for the week of 5-Sep-2016), including nine new routes this summer. It plans two more routes in the coming winter schedule and four US routes from Barcelona in summer 2017.
Well over half of Norwegian's North Atlantic routes are new to the market, which has been significantly stimulated by its entry. This has provided choice and lower fares for passengers, and created new airline jobs. Those still seeking to block approval for NAI and NUK are acting against the interests both of consumers and aviation workers.