JAZEERA RAISES CAPITAL THROUGH RIGHTS ISSUE
The board of Kuwaiti budget carrier Jazeera Airways intends to raise the share capital of the company by 20 million dinar ($69 million) to 42 million dinar through a share issue. The increase follows the carrier's decision to acquire aircraft leasing company Sahaab. Jazeera operates a fleet of Airbus A320s from its base at Kuwait International airport.
AVEOS CAPTURES NEW CFM56 BUSINESS
Canada's Aveos has secured new business from Air China and Air Moldova covering repair and overhaul of CFM International CFM56 engines. The company has also signed letters of agreement for maintenance of CFM56s with Indonesian carriers Merpati and Mandala Airlines.
Q400 FREIGHTER OPERATOR NORD-FLYG FOLDS
Nord-Flyg, Swedish launch customer for Cascade Aerospace's Bombardier Q400 cargo conversion, has entered administration. According to Sweden's aviation regulator, the airline has filed for bankruptcy, and therefore lost its air operator's certificate.
GE GETS QUEBEC AID TO EXPAND CANADIAN PLANT
GE Canada will invest $63.5 million over the next six years to diversify the GE Aviation product line in Bromont, Quebec. The move is being aided by up to $13.3 million from Quebec's Strategic Support for Investment. GE says the move will allow the facility to make components for the next generation of engines.
BMI RESTRUCTURING AIMS TO HALVE LOSSES
Lufthansa Group's UK carrier BMI aims to halve losses this year after sustaining a deficit last year which exceeded even that of 2008, when it posted a pre-tax loss of £157 million ($242 million). Chief executive Wolfgang Prock-Schauer says BMI's "relatively small size", compared with competitors, has been a weakness, but adds there is "no intention" of breaking the airline up and that the restructuring effort is "getting a lot of support" from Lufthansa.
FOKKER EXTENDS PMA TIE-UP WITH R&D DYNAMICS
Fokker Services and US company R&D Dynamics have signed a five-year contract renewal for the development and distribution of parts manufacturer approvals for air cycle machines equipping Fokker aircraft as well as Airbus, Boeing and Bombardier types. The contract also covers starters in the Bombardier CRJ100/200.
ILYUSHIN FINANCE PLANS LESSOR IN VENEZUELA
Venezuela is to set up a joint leasing company with Russian state-controlled Ilyushin Finance to help local airlines and other Latin American operators modernise their fleets through leases of new Russian aircraft. The Russian lessor has preliminary agreements to supply 10 Antonov An-148 regional jets to Venezuela and a VIP-configured An-148 to the Bolivian Government.
AAR COMPLETES AVIATION WORLDWIDE ACQUISITION
AAR has completed the acquisition of Aviation Worldwide Services in a move which chief executive David Storch says "advances AAR's long-term strategies to expand our participation in the government services market". He adds that the acquisition will enable AAR "to provide expeditionary airlift support services and perform engineering and design modifications for specialised rotary-wing aircraft".
Source: Flight International
