Republic Airways Holdings announced (03-Dec-2013) it has closed on the sale of Frontier Airlines to an investment fund affiliated with Indigo Partners. Frontier Airlines will remain headquartered in Denver. Frontier Airlines' CEO and president David Siegel resigned from Republic Airways' board of directors following the sale closure. Republic Airways' chairman, president and CEO Bryan Bedford stated, "With the sale of Frontier complete, Republic can now focus its full attention on its core regional jet business and continue to strengthen its relationships with its major airline partners." Indigo Partners managing partner William Franke stated, "One key element to Frontier’s future success will be operating as an ultra low cost carrier that offers low fares. This model, coupled with the Frontier touch, will ensure opportunities for the Frontier team, and provide safe and reliable ULCC air service to our communities and beyond as we grow Frontier under this vision." [more - original PR - Republic Airways] [more - original PR - Indigo]
Republic Airways completes sale of Frontier Airlines to Indigo Partners
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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.
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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.