TUI Travel plans to invest EUR200 million into Corsair’s recapitalisation following the airline’s restructuring conducted in 2010, according to Les Echos reports. The funds are expected to allow Corsair to take delivery of a new A330 in Dec-2012 followed by a second in Feb-2013, to replace its Boeing 747 equipment. TUI Travel reportedly plans to invest an additional EUR80 million into the carrier to support its revival.
TUI Travel to invest EUR200m into Corsair recapitalisation
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Iran CAPA Aviation Summit – hope turns to frustration, but optimism remains as growth abounds
When CAPA – Centre for Aviation held its first conference in Iran at the end of Jan-2016 the atmosphere was primarily one of optimism. Immediately preceding the conference the expectation was that Iran and the West would move to rapidly reverse decades of estrangement. The first round of sanctions against Iran had come down – in line with the historic 2015 Joint Comprehensive Plan of Action (JCPOA) nuclear agreement reached between Iran and the ‘5+1’ powers – and major airlines and aircraft manufacturers were coming to the table.
While it was acknowledged that progress on major deals was not going to happen overnight, the hope was that as layers of sanctions came down, Iran would be embraced by the rest of the world. In return, Iran was expected to open itself up progressively to foreign trade and investment, and to travel.
The road ahead was perceived to be one that was both a very different, and far easier, one than the one Iran had already travelled. Aviation in particular was a sector that was expected to shine and lead the way for a new era for the country.
Australia and New Zealand hit highs in 2016, but 2017 will lose a little lustre
Australia and New Zealand enter 2017 on a different level from 12 months previously. The biggest change, not just compared to 2016 but since the global financial crisis, is that Qantas is revelling in a successful turnaround. After the lows of 2011 and a domestic competitive bloodbath, the Qantas Group has seemingly become a solid and sustainable story, now looking forward to a new future marked by Boeing 787s, arriving later in 2017.
Air New Zealand has continued along its thoroughly profitable path, while Virgin Australia and its Tigerair Australia subsidiary have struggled to achieve profitability in the new environment – now with a more settled share registry and emerging strategy.
After a mineral boom that carried Australia through the difficult years of 2008-2010, the country’s GDP growth has since slipped to 1.8% in 3Q2016 calendar year, with an outlook for 3.0% for the full FY2017. By contrast, New Zealand’s Treasury expects GDP growth of 3.6% for 2016 and has forecast a 3.5% increase in 2017.