Kuwait Airways Corporation (KAC) seized (24-May-2011) multi-million-dollar funds in various Iraqi Airways’ (IAC) bank accounts in Amman, Jordan, following orders issued by the Jordanian Court on 10-May-2011. The interests of IAC in its office in Amman were seized on 22-May-2011. In co-ordinated enforcement proceedings, following permission granted earlier this year by the High Court to join the State of Iraq, the Ministry of Finance and Ministry of Transport to the proceedings, the High Court in London on 13-May-2011 issued a number of enforcement measures against shares and London bank accounts in the name of Trade Bank of Iraq, London accounts in the name of Rasheed Bank and against commercial property owned by the Ministry of Foreign Affairs of Iraq. All three parties were also joined to the action. These are the latest developments in Kuwait Airways Corporation’s legal fight to obtain compensation from IAC for the theft of its fleet and spare parts in the 1990 invasion of Kuwait. [more]
Kuwait Airways Corporation seizes funds in Iraqi Airways Company's bank accounts
You may also be interested in the following articles...
Flybe at Heathrow: Europe's largest regional airline enters Europe's largest airport, gets new CEO
On 20-Dec-2016 Flybe announced its first ever routes from London Heathrow and the appointment of a new chief executive. Europe's largest regional airline will launch Heathrow to Aberdeen and Edinburgh at the start of summer 2017. Former CityJet head, Christine Ourmieres-Widener, will become CEO of Flybe from 16-Jan-2017, replacing Saad Hammad, who left on 26-Oct-2016.
Flybe already operates to the two Scottish cities from London City in competition with British Airways. Its Heathrow turboprop services will compete directly with BA's narrowbody jets, and there is also competition from Ryanair and easyJet from other London airports on the city pairs. Flybe has previously baulked at Heathrow's high charges, but has now changed its mind.
Flybe's new Heathrow services will use slots previously used by Virgin Atlantic's Little Red on the same routes. Little Red failed to fill its aircraft and ceased operating after two years. Flybe will be hoping that its smaller aircraft and lower frequencies will be easier to fill. Extending its codeshare agreements with its long haul partners to include Heathrow routes would help. It will also do Flybe no harm that it already participates in the Avios loyalty scheme owned by IAG, the parent of Heathrow's largest airline British Airways.
Jet2.com: seats at new Stansted base in summer 2017 exceed the entire network growth in summer 2016
Jet2.com has provided details of the routes that it plans to operate at the new London Stansted base that had been already announced by the LCC's parent Dart Group. From the start of the summer 2017 schedule Jet2.com will serve 21 European leisure destinations from Stansted. This will continue the airline's strong dependence on the summer season.
Jet2.com's move into Stansted will it bring it into head-to-head competition with Europe's biggest and lowest cost LCC – Ryanair. That much was clear from the moment that the Dart Group announced the establishment of the base at Stansted, and it was highlighted in a previous CAPA analysis.
The route details allow greater analysis of the competitive landscape that Jet2.com will face. By entering the London market it will not only be locking horns with Ryanair, but it will also be facing city pair competition from almost every other significant LCC and charter airline that operates from the UK. The new seat capacity that Jet2.com will deploy from its first base in the south of England will be more than its network-wide seat growth in summer 2016, making this a highly significant move for the airline.