GMR Infrastructure announced (16-Jan-2020) plans to divest 49% of GMR Airports Ltd to TRIL Urban Transport Private Limited (part of TATA Group), an affiliate of GIC and SSG Capital Management. This is an increase from the 44.44% stake GMR previously agreed to divest to the investors. [more - original PR]
What impact does the consolidation have on airline operations? When vendors merge, what proactive actions should airlines take?
The Qatar Aviation Aeropolitical and Regulatory Summit is a high level forum dedicated to addressing the latest development in aviation regulation, both within the Gulf Cooperation Council countries and globally.
Air Mauritius established (16-Jan-2020) a transformation steering committee, effective 16-Jan-2020. The committee will consult with stakeholders, evaluate proposals of appointed consultants, propose actions to the board and monitor the implementation of approved programmes. The carrier appointed Sherry Singh as chairperson of the committee. [more - original PR]
Delta Air Lines CEO Edward H Bastian stated (14-Jan-2020) "We're certainly seeing some weakness" in Asia, due to "the China issues and some of the tariff discussions that's bled over into Korea and a few of the other Asian economies". Mr Bastian stated despite the weaknesses: "The health of our businesses in the US and the US corporate's doing quite well". [more - original PR]
Joby Aviation announced (16-Jan-2020) it received USD590 million series C financing for development and production of its electric vertical take-off and landing (eVTOL) aircraft. Toyota was the lead investor contributing USD394 million. [more - original PR]
Bombardier announced (16-Jan-2020) that with its exit from the Commercial Aerospace segment, the company is reassessing its ongoing participation in the Airbus Canada Limited Partnership (ACLP), which produces the A220 under a JV with Airbus. Bombardier stated that while the A220 programme continues to win in the marketplace and demonstrate its value to airlines, the latest indications of the financial plan from ACLP calls for additional cash investments to support production ramp-up, pushes out the break-even timeline, and generates a lower return over the life of the programme. This may "significantly impact" the JV value. Bombardier will disclose the amount of any write-down when it completes its analysis and report its final 4Q2019 and full year 2019 financial results on 13-Feb-2020. [more - original PR]
Duty Free International reported (16-Jan-2020) the following financial highlights for the three months ended 30-Nov-2019:
- Revenue: MYR197.2 million (USD47.2 million), +25.6% year-on-year;
- Profit before tax: MYR12.1 million (USD2.9 million), -41.0%;
- Net profit: MYR9.5 million (USD2.3 million), -44.0%;
- Total assets: MYR826.5 million (USD197.9 million);
- Cash and cash equivalents: MYR350.6 million (USD84.0 million);
- Total liabilities: MYR258.5 million (USD61.9 million). [more - original PR]
*Based on the average conversion rate at MYR1 = USD0.2395
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