Cyprus Airways executive chairman George Mavrocostas stated the carrier will close unless it finds a group to invest EUR45 million in its company’s planned share capital increase, as reported by Ta Nea. The air carrier is in discussions with possible investors with Mr Mavrocosta stating, "We are talking with several investors who have expressed interest. Some are serious and others not so, do not kid ourselves. He said talks have been held with airlines including Aeroflot, Transaero Airlines, Middle East Airlines and Qatar Airways.
Cyprus Airways will close unless it finds EUR45m investor, held talks with a few airlines
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ACTE-CAPA Global Summit addresses liberalisation, disruptive technologies and Brexit
The ACTE-CAPA Global Summit attracted over 800 delegates and more than 40 c-level executives to Amsterdam on 27-28 Oct-2016. The CEOs of more than 20 airlines spoke during the summit, which included the annual CAPA Aviation Awards for Excellence gala dinner.
For a report on the award winners see: Icelandair, Iberia, Qatar, Wizz, AirAsia’s Fernandes, London City, Vancouver, ABB win CAPA awards
Liberalisation and disruptive technologies were among the main themes across two days of keynotes and panel discussions. Brexit, China, global alliances and the future of the low cost model were also examined in specifically themed panel discussions.
European airline seat capacity growth accelerates - perhaps too quickly: Outlook for winter 2016/17
The summer 2016 season came to an end on 29-Oct-2016. Adjusting for an extra week relative to the previous summer, it produced seat growth of 6% for capacity to/from/within Europe, matching the rate of growth in summer 2015, but higher than the 10-year average rate of 4% and higher than any other summer since 2010.
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.
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