Aegean Airlines signed (23-Oct-2013) a definitive agreement with Marfin Investment Group for the acquisition of Olympic Air. Olympic Air will now operate as a subsidiary of Aegean Airlines. The transfer of 100% of Olympic Air's shares was completed on 23-Oct-2013, at a cost of EUR72 million to be paid in installments. Aegean Airlines advanced the amount of EUR20 million on 22-Oct-2013, with the remainder to be paid in five EUR10.4 million annual installments, the first of which was paid on 23-Oct-2013. A presence conference will be held on 31-Oct-2013 to outline the company's post-acquisition planning. [more - original PR] [more - original PR - Greek]
Aegean Airlines completes acquisition of Olympic Air
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Current indications from data filed with OAG are that Europe will also experience accelerating capacity growth in the winter 2016/2017 season, which runs from 30-Oct-2016 to 25-Mar-2017. Adjusting for the season being shorter by one week relative to last winter, total seat growth in Europe is set to reach 7%, compared with 6% growth in winter 2015/2016 (and 6% growth in summer 2016). This is higher than the 10-year average rate for winter of 3% and the highest winter growth since 2007/2008.
On routes to all but one region from Europe, seat growth this winter will both be faster than last winter and higher than its 10-year average. The one exception is Europe to Middle East, the fastest-growing region, where capacity growth will remain at 10%. This report presents analysis of this winter's seat growth for Europe by region and by airline group.
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.