Turkey’s TAV CEO, Sani Sener, stated the company plans to sell shares in ground-handling brand, Havas, in an IPO in 2011 (Bloomberg, 11-Augp-2010). Partners in the brand, including HSBC Holdings Plc (28.3%) and Is Girisim Sermayesi Yatirim Ortakligi AS (6.7%), have all agreed to sell some of their stake in the offering. North Hub Services, of which Havas has a 50% stake, plans to start services in Tallinn in Oct-2010, Stockholm and Vilnius in 2011 and Copenhagen in 2012. Havas agreed to purchase the stake in the company in Apr-2010 for EUR3.3 million.
TAV plans IPO for Havas in 2011
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Until 2014 Turkey was one of the most reliably fast-growing air traffic markets in Europe. In 2015 passenger numbers levelled off, and in 2016 traffic is set to decline. The impact of geopolitical events, including a series of terrorist attacks, the civil war in neighbouring Syria and the failed coup attempt in Jul-2016, has weighed heavily on demand for international travel to/from Turkey.
Foreign airlines switched capacity away from Turkey in summer 2016, but the country's two largest operators – Turkish Airlines and Pegasus Airlines – continued to grow. However, following years of double-digit growth by both, Turkish Airlines and Pegasus Airlines are taking unusual steps this winter. According to data from OAG, Turkish looks set to implement year-on-year capacity cuts, while Pegasus appears to be planning flat capacity for the period from Nov-2016 to Mar-2017. It seems likely that both airlines will again cut their growth targets for 2016.
Moreover, Pegasus is seeking wet-lease customers for six of its current fleet of 73 aircraft. Perhaps more significantly, Turkish is to reschedule 165 aircraft deliveries planned for 2018-2022, cutting its planned fleet size in 2021 from 439 to 400.
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.
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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.