Aviation Sector

BA Union to take Legal Action against Atrocious Thrift Tactics

Expecting the consecutive loss this year, British Airlines is planning to impose the changes in working practice on its 14,000 cabin crew. BA plans to lay off 37,000 jobs, followed by reducing the number of crew on most long-haul flights, also senior staff would be expected to join the food service teams. New employees will also be put on different contracts with lower pay.

2.1% Rise in Profits Reported by Auckland Airport

Auckland Airport

In what is being seen as a much positive development in the current times of a globally weak economy, the Auckland International Airport, in figures made public on Thursday for this year up-to the month of June, reported a 2.1% rise in profits and a 5.2% increase in revenue.

The net profit, post tax, revealed by Auckland's biggest airport was $105.9 Million. This was a substantial rise from last year's figure of $103.7 Million reported for the same period. The revenue also saw a definite surge and now stood firm $369.2 Million.

BAA appeals against forced selling, calls inquiry biased

BAA

BAA voraciously fights off the Opposition Commissions ruling to sell off three of its major assets citing that the ruling was “riven” with apparent bias, during an appeal hearing yesterday. Meanwhile, it gears up to selling Gatwick, UK's second largest airport, to Global Infrastructure Partners, who already have the London’s city airport with them. Sources quote a likelihood of the price to be around the mark of £1.5bn though the negotiations are still underway.

Air New Zealand happy over Blended Winglets

Air New Zealand happy over Blended Winglets

Introduction of blended winglets in the Air New Zealand's fleet of five Boeing 767-300ER aircrafts is proving more fuel efficient than expected by the carrier.

It has been delivering 19 per cent higher fuel saving as per current data. The blended winglets would reduce drags to make air wings efficient, making the crafts more fuel saving.

General Manager Airline Operations Captain David Morgan said, "The installation of the blended winglets is part of Air New Zealand's on-going drive to be the world's most environmentally sustainable airline."

IBM's backup generator left NZ Airline high and dry

Rob Fyfe, the Chief Executive of Air New Zealand

IBM said that Air New Zealand's computer system crash for six hours could be due to failed oil pressure sensor on a backup generator.

The crash had caused disruption in services besides causing inconvenience to more than 10,000 customers of the airlines.

IBM said in a statement, "The likely cause appears to have been a failed oil pressure sensor on a backup generator. We regret any inconvenience caused to our clients or their customers."

Auckland Airport to soon come up with $125m bond offer

Auckland Airport to soon come up with $125m bond offer

Auckland International Airport has announced to issue a $125 million five-year bond program by October end, focusing retail investors. All details including a fixed rate of interest may be released in few days by the company.

The company had already completed a $50 million bond issue at an interest rate of 7.25% earlier this year. ANZ and Goldman Sachs JBWere will assist for managing the bond issue.

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