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Jet Airways selling stake to Etihad for 20.6 billion rupees | Reuters

April 24, 2013 by Leave a Comment

Jet Airways (JET.NS) will sell a minority stake to fast-growing Abu Dhabi-based Etihad Airways for 20.6 billion rupees (roughly $379 million) after months of negotiations, giving a lift to India’s embattled aviation industry.

The investment would be the first by an overseas operator in an existing Indian carrier since the country relaxed ownership rules in September to allow foreign carriers to buy up to 49 percent in local airlines, which face stiff competition and high operating costs.

via Jet Airways selling stake to Etihad for 20.6 billion rupees | Reuters.

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Dreamliner set to fly in a week as Boeing fixes battery | Reuters

April 22, 2013 by Leave a Comment

BA.N) began installing reinforced lithium-ion batteries on five grounded 787 jets in Japan on Monday, starting a process that should make the first commercial Dreamliners ready to fly again in about a week.

Boeing’s Dreamliners have been grounded since regulators in the United States and elsewhere ordered all 50 planes out of the skies in mid-January after batteries on two of them overheated. U.S. regulators approved a new battery design on Friday.

The grounding has cost Boeing an estimated $600 million, halted deliveries and forced some airlines to lease alternative aircraft. Several airlines have said they will seek compensation from Boeing, potentially adding to the plane maker’s losses.

The first five jets to receive the new strengthened battery system all belong to All Nippon Airways (9202.T), the airline that launched the first commercial Dreamliner service.

via Dreamliner set to fly in a week as Boeing fixes battery | Reuters.

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American Airlines, Orbitz settle dispute over distribution costs | Reuters

April 1, 2013 by Leave a Comment

American Airlines and online travel agency Orbitz Worldwide Inc (OWW.N), which have been locked in a years-long dispute over travel distribution costs and methods, on Monday said they have reached an agreement resolving the litigation between them.

The companies declined to comment on details of the settlement agreement, which must be reviewed and approved by the U.S. bankruptcy court presiding over American parent AMR Corp’s (AAMRQ.PK) Chapter 11 case.

 

American had sued Orbitz in April 2011, saying the online agency and airfare data provider Travelport, which owns a 48 percent share in Orbitz, made American’s fares look higher than they were to consumers.

via American Airlines, Orbitz settle dispute over distribution costs | Reuters.

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