BRUSSELS CLEARS THOMAS COOK'S OGER DEAL
European regulators have cleared UK tour operator Thomas Cook Group to acquire German travel company Oger Tours, after concluding that the transaction would not affect competition as the combined market shares of the parties will be "moderate" and the group will still face "strong" competition from the likes of TUI and others.
JAL SELLS LOGISTICS SUBSIDIARY
Japan Airlines plans to sell its 72% stake in JAL Logistics to cargo services provider Hamakyourex as the airline continues to divest non-core assets following its move into bankruptcy protection earlier this year. Shizuoka-based Hamakyourex will take over the company and develop it into a third-party logistics business.
BAE SYSTEMS EYES DIVESTMENT OPTIONS
BAE Systems has engaged Wells Fargo and JP Morgan to advise on strategic options with regard to its Platform Solutions business, including a possible sale. The New York-based business, which supplies defence and civil avionics systems and hybrid vehicle drive systems, is a pillar of BAE's Electronics, Intelligence & Support division, which accounts for a quarter of group revenue and profit.
STANDARDAERO WINS ENTRY TO RUSSIA
StandardAero says it has achieved a "strategic entrance" to the Russian market with its selection by Moscow-based carrier Region-Avia to support the Pratt & Whitney Canada PW118 engines and Honeywell GTCP36-150AA auxiliary power units of its Embraer EMB-120 turboprop fleet.
USA FALLS OFF PERCH
From its place at the top of the table two years ago and second place last year, the USA has fallen to fourth in the World Economic Forum's latest Global Competitiveness Report. Switzerland holds its top ranking, ahead of Sweden (fourth last year) and Singapore (3). US Aerospace Industries Association chief executive Marion Blakey describes the news as "disturbing" and wants help from Washington DC, including lower corporate taxes, research tax credits and capital investment bonus depreciation.
IRKUT TO TAKE CHARGE OF AN-148 PROGRAMME
United Aircraft's Irkut division is to unify production and worldwide sales of the Russian-built Antonov An-148 regional jet. The move, in line with United Aircraft's decision to put Irkut in charge of managing its commercial aircraft projects excluding the Sukhoi Superjet 100, will not infringe on Ilyushin Finance's role as a programme investor and buyer. Irkut expects to be able to negotiate better terms with suppliers and streamline logistics.
SAA'S MRO DIVISION HELPS TUEN PROFIT CORNER
South African Airways' maintenance division, SAA Technical, posted a pre-tax profit of R9.5 million ($1.3 million) for the year to 31 March, after a heavy loss of R171 million for the previous year. SAA made a group pre-tax profit of R596 million, an increase of more than 40% despite difficult trading conditions.
SOUTHWEST BECOMES UATP SHAREHOLDER
Southwest Airlines has become one of 20 active shareholders in the Universal Air Travel Plan, whose accounts are accepted as a form of payment for corporate business travel worldwide by airlines, travel agencies and Amtrak.
Source: Flight International
