TIGER AIRWAYS TO RESUME OPERATIONS NEXT WEEK (MOST LIKELY)

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By TESTCustomwebLP TESTCustomwebLP August 3, 2011 08:39

TIGER AIRWAYS TO RESUME OPERATIONS NEXT WEEK (MOST LIKELY)

After several extensions of its flying ban by the Australian Civil Aviation Safety Authority (CASA), Tiger Airways Australia is now expected to resume operations next week after a court hearing into a further extension of its flying ban was postponed for the fourth time. The hearing will now take place on Friday afternoon. In the meantime, it is reported that Tiger Airways is working to meet all of the new safety conditions imposed on its licence to fly.

If CASA’s assessment of the airline’s responses to the safety conditions is robust enough, which all the signs are that it will be, the safety authority is likely to lift its court action and life the suspension of Tiger’s flying licence. Tiger will then be able to restart its domestic operations as early as next week.

In a joint statement the airline and CASA said: “Tiger Airways Australia and CASA are currently in ongoing discussions regarding the suspension and see no utility in having a hearing today whilst these discussions continue.”

“Tiger Airways Australia flights will, by virtue of the adjournment, remain suspended until August 5,” it said.

Meanwhile, International Lease Finance Corporation (ILFC) has confirmed it has signed an agreement with AerCap Holdings to acquire its engine leasing arm, AeroTurbine. The deal will close over the “coming months”, ILFC said in a statement. Citigroup acted as financial advisor to ILFC.

ILFC Chief Executive Officer Henri Courpron said: “The acquisition of AeroTurbine offers a new compelling strategic solution to maximize value across the complete life cycle of an aircraft. The ability to exercise this level of control over our assets will enhance value and as importantly, inspire new dialogue with airlines with respect to their fleet strategies.”

AeroTurbine Chief Executive Officer, Michael King, said: “We are excited about joining ILFC and contributing our expertise to support the management of their fleet. Moreover, the marketing combination of AeroTurbine and ILFC will produce unique and improved product and service offerings for airlines. We look to gain access to new customers as well as a more predictable inventory stream which will drive economies of scale and provide opportunities for longer term parts supply agreements.”

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By TESTCustomwebLP TESTCustomwebLP August 3, 2011 08:39
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