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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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AIG makes $4bn loss from unit sale

Category : Business

American International Group reports a $4bn (£2.6bn) three-month loss, mainly due to the sale of its aircraft leasing business ILFC.

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Notice of Results

Category : World News


22 January 2013

                                                AVATION PLC
                                       ("AVATION" or the "COMPANY")
                                             Notice of Results

Avation  PLC  (LSE:  AVAP),  the commercial passenger aircraft leasing company will  announce  its  interim
management report for the six months ended 31 December 2012 on 11 F

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Chinese investors take 80% stake in AIG aircraft leasing unit

Category : Business, Stocks

American International Group agreed Monday to sell an 80.1% stake in its giant aircraft leasing business to a group of Chinese investors.

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Boeing announces 737 Max jet deal as it bids to beat Airbus

Category : Business

Deal for new Boeing 737 Max shorthaul jet, thought to be worth £4.6bn, revealed at Farnborough air show

Boeing has announced a $7.2bn (£4.6bn) order for its next-generation shorthaul jet, the 737 Max, in its drive to trump Airbus in the commercial aircraft market this year.

The deal was unveiled at the Farnborough air show, where the aerospace industry’s importance to the UK economy is being underlined by a wave of ministerial visits – led by David Cameron on Monday morning. Opening the show, Cameron said aerospace was a “real success story” and “a vitally important industry in the UK and for the future of our country and our economy”.

The UK accounts for around 15% of Airbus’s commercial aircraft production but it was US-based Boeing that took first advantage at Farnborough with an order from Air Lease Corporation (ALC), run by jet-leasing entrepreneur Steven Udvar-Hazy. ALC has placed a firm order for 75 737 Max planes, the revamped and more fuel-efficient version of a jet widely used by the likes of Ryanair, with rights to buy 25 more — bringing the potential value to more than $7bn.

The announcement takes the number of firm orders for the 737 Max to 539, still some distance behind Airbus and its A320neo, a re-jigged version of its A320 shorthaul workhorse, which has more than 1,300 orders. Asked when the 737 Max will overtake its rival, the new head of Boeing’s commercial division, Ray Conner, said: “We are just going to keep plugging away and see where we end up.”

Udvar-Hazy is a pioneer of the aircraft leasing trade, where airlines rent jets rather than acquire them. It allows carriers to obtain aircraft without paying for them up front and gives airlines the flexibility to hand aircraft back after five to six years if business dips, or keep them on if demand remains strong.
Udvar-Hazy said the 737 Max “meets the needs” of a modern airline by being up to 13% cheaper to operate than its precursor.

Fuel accounts for around a third of airline operating costs, double the proportion a decade ago, and the 737 Max and A320 neo have been well received by carriers striving to stay profitable amid high fuel prices and weak demand.

The deal represents a turnround for Boeing in the wake of comments by Udvar-Hazy at the start of the year, when he expressed doubts about the revamped 737. However, the billionaire ALC chief executive said Boeing had since come back with a “really refined design” including tweaks to the aircraft’s fuselage and tail sections to make it more fuel-efficient.

Despite the A320neo’s long lead, Boeing expects to edge Airbus in total commercial aircraft orders this year. Last year saw Airbus book a record number of net orders, for 1,419 aircraft compared with Boeing’s 805.
However, following that initial flurry of 320neo orders, Boeing is expected to ensure a closer finish in 2012. Another 737 Max order is reportedly imminent from a further aircraft leasing company, Kuwait-based Aviation Lease & Finance, while US carrier United-Continental is also a mooted buyer. The ALC firm orders are comprised of 60 for the 737 Max-8 and 15 for the 737 Max-9 variant, which can cover longer distances.

Newly Traded TECA Announces Leasing Program for Propane Dealers

Category : Stocks

VANCOUVER, WA–(Marketwire – Jun 7, 2012) – All American Leasing, Inc., a wholly-owned subsidiary of Techalt, Inc. (PINKSHEETS: TECA), is pleased to announce that its innovative leasing program for propane dealers will be available shortly. By utilizing TECA’s purchase/leaseback program, dealers will have more flexibility in their ability to increase cash flow. This should enable the propane dealers to more rapidly expand their businesses.

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Can an Employee of a Wholly-Owned Subsidiary Sue the Parent Company Based Upon Negligence?

Category : World News

Yedigaryan, et al, v. Penske Truck Leasing Corporation, et al.

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