Garuda Indonesia shares tumble as regulator orders fixing of financial numbers

Indonesia’s financial regulator (OJK) and stock exchange has ordered Garuda Indonesia to “repair and restate” its annual accounts – this has in turn sent the airline’s shares tumbling 7.6%, its lowest level since January. The news comes just weeks after its two biggest private shareholders alleged it had misrepresented a $240 million transaction. OJK has

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Lufthansa lowers outlook; IMO 2020; and the lead story from Paris

Lufthansa shares fell by 11.5% this morning at the open after the German flag carrier lowered its profit outlook for 2019 from €2.4-3bn to €2-2.4bn, citing price competition from low-cost rivals. In a statement, Lufthansa said: “Yields in the European short-haul market, in particular in the group’s home markets, Germany and Austria, are affected by

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Magnetic MRO looking to raise capital with issue of new shares

Magnetic MRO (MMRO) has reached an agreement with investors to raise additional capital by up to €8.95 million ($10.1 million). Chinese company Shenzhen Yongtai Trading and Hong Kong-based Sapphire Investment Holding will acquire shareholdings of up to 13.44% and 1.6% respectively. The total share capital of Magnetic MRO will be increased from €1.09 million to €1.23

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Wheels Up Network Grows With New Acquisition

Light jet aircraft will complement Wheels Up’s existing fleet. New York City-based Wheels Up, a private member-based aircraft operator, today said it was adding Travel Management Company (TMC) to its portfolio. The acquisition is responding to the increasing demand from Wheels Up members for high-quality light jets that meet Wheels Up’s stringent safety and operational

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FAA Grounds Citation 525s With Tamarack Winglets

AD allows a ferry permit with flight restrictions. The FAA today issued an airworthiness directive effective immediately that grounds all Cessna Citation CJ 525, 525A and 525B models operating with Tamarack active load alleviation system (ATLAS) winglets installed in accordance with STCSA03842NY. The agency said malfunctioning of the ATLAS could lead to loss of control

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Senate Grills FAA Nominee on Boeing 737 Max Issues

Former Delta executive Steve Dickson’s path to confirmation as the next FAA Administrator is expected to be a smooth one despite pointed questions from senators. Former Delta Air Lines executive Steve Dickson faced heated questions in the Senate on Wednesday about whether regulators could have done more to prevent two fatal crashes of Boeing 737

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Van Nuys Airport Holds Another Successful Aviation Career Day

1,200 students heard from dozens of exhibitors. Van Nuys Airport, one of the busiest general aviation facilities in the U.S., last week held its 14th annual, “The Sky’s the Limit: Aviation Career Day.” This year more than 1,200 students got a first-hand look at dozens of job opportunities possibly awaiting them in the aviation industry.

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Pilatus Delivers PC-24 to U-Haul

The 27th Super Versatile Jet joins other Pilatus airplanes in corporate fleet. When you think about U-Haul, you probably envision a small or medium sized truck used for personal moving. But this week, the company took delivery of one of the most advanced business jets on the market – the Pilatus PC-24. Featuring an orange

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PBS Series Looks at The Airplane, An Idea That Changed the World

Series explains how other influencers helped the Wright Brothers create the airplane. The second episode of a new PBS series, “Breakthrough: The Ideas That Changed the World,” premieres tomorrow night April 24 with “Airplane,” a look at the people who inspired the Wright Brothers to create the first practical aircraft. The journey to the first

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Major Airlines Suffer from Boeing 737 Max Issue

Thousands of flights cancelled as a result of recent crashes. Major U.S. airlines have been forced to cancel hundreds of flights as a result of the grounding of Boeing’s 737 MAX fleet after two accidents in the past six months, one in Indonesia and the other in Ethiopia, killing a total of nearly 350 people.

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