News

Pakistan: Plane crashes with 40 passengers on board

A Pakistan International Airlines flight carrying more than 40 people crashed soon after takeoff on Wednesday while en route to Islamabad from the northern city of Chitral, a spokesman and police officials said. According to senior police officer Khurram Rasheed, the plane crashed in a village near the town of Havelian, located about 45 miles northwest from the Pakistani capital. It was not immediately clear what may have caused the crash. A local police official, Khursheed Tanoli, told state-run Pakistan Television that the plane went down in a village in the northwest and that rescuers were trying to reach the site of the crash. The army reportedly sent troops and helicopters to the crash site. Shortly before the crash was confirmed, airlines spokesperson Daniyal Gilani said the ATR-42 aircraft.

Russia bans Pakistan’s flight to Toronto from using its airspace due to unpaid fees(Opens in a new browser tab)

operating as PK-661 carrying around 40 passengers and crew lost touch Wednesday with the control tower. State-run Pakistan Television showed a huge fire rising from the site of the crash. Villagers were seen standing near the site. Taj Muhammad Kahn, a local government official who as at the site of the crash, said it was unlikely there were any survivors from the crash. “All of the bodies are burned beyond recognition. The debris is scattered,” he told Reuters, adding that the plane crashed in a mountainous area and was on fire before it hit the ground. A Pakistan International Airlines ATR-42 aircraft, similar to the one which crashed There were no immediate details on casualties but Pakistan’s interior ministry dispatched a team with experts on identifying bodies through DNA tests.

Footage of PIA #PK661 crash in which Junaid Jamshed has reportedly died. pic.twitter.com/61qaTKOAJb

— Mahboob Mohsin (@MohsinMahboob) December 7, 2016

The flight departed from Chitral around 3:30 p.m. local time and was expected to land at Islamabad’s Benazir Bhutto International Airport at around 4:40 p.m. local time.

Pakistani media and residents gather at Benazir Bhutto International Airport after the crash

A Muslim cleric who had rocketed to fame as a Pakistani pop star was one of the passengers, according to an official. The cleric, Junaid Jamshed, had released a string of chart-topping albums as a solo artist and a member of the group Vital Signs during the 1980s and 1990s. Airline official Sohail Ahmed told Reuters Jamshed was on the flight.

Courtesy : Foxnews

Airlines

Alaska Airlines Acquisition of Hawaiian Airlines Reshapes the Air Travel Landscape

Alaska Air Group, Inc. (NYSE: ALK) and Hawaiian Holdings, Inc. (NASDAQ: HA) jointly announced today the execution of a definitive agreement, signifying Alaska Airlines’ acquisition of Hawaiian Airlines at a cash price of $18.00 per share. The total transaction value stands at approximately $1.9 billion, encompassing Hawaiian Airlines’ net debt of $0.9 billion.

The combination of complementary domestic, international, and cargo networks

This strategic union is poised to open up an array of additional destinations, providing consumers with increased choices in crucial air service options across the Pacific region, Continental United States, and globally.

The transaction is anticipated to establish a robust platform for growth and competition in the U.S., offering enduring employment opportunities, ongoing community investments, and a commitment to environmental stewardship.

Key Points:

Acquisition Overview:
- Alaska Air Group to acquire Hawaiian Holdings for $18.00 per share in an all-cash transaction, totaling approximately $1.9 billion.
- Combined company aims to maintain the strong, high-quality brands of Alaska Airlines and Hawaiian Airlines.
Fleet Expansion and Network Reach:
- Creates the fifth-largest U.S. airline with a fleet of 365 narrow and wide-body airplanes.
- Enables access to 138 destinations through combined networks and over 1,200 destinations via the oneworld Alliance.
Hub Development and Connectivity:
- Honolulu to become a key hub for the combined airline, offering expanded services to the Continental U.S., Asia, and the Pacific.
- Tripling the number of destinations from Hawai‘i to North America, while maintaining robust Neighbor Island service.
Commitment to Hawai‘i:
- Strong commitment to Hawai‘i, ensuring robust Neighbor Island air service.
- Aiming for a more competitive platform supporting growth, job opportunities, community investment, and environmental stewardship.
Employee and Union Commitment:
- Commitment to maintaining and growing the union-represented workforce in Hawai‘i.
- Immediate value creation with at least $235 million of expected run-rate synergies.
Investor Call and Timeline:
- Investor conference call scheduled for today at 5:00 p.m. ET / 2:00 p.m. PT / 12:00 p.m. HT.
- Anticipated closing of the transaction within 12-18 months.
Strategic and Financial Rationale:
- Complementary networks to enhance competition and provide greater choice for consumers.
- Preservation of both Alaska and Hawaiian Airlines’ brands on a single operating platform.
- Expected to deliver high single-digit earnings accretion for Alaska Airlines within the first two years.
Community and Sustainability Commitment:
- Focus on growth in union-represented jobs and strong operational presence in Hawai‘i.
- Commitment to environmental stewardship, aligning with Alaska Airlines’ five-part path to net zero by 2040.
Synergies and Accretion:
- Expected run-rate synergies of at least $235 million.
- Transaction multiple of 0.7 times revenue, approximately one third the average of recent airline transactions.
Conditions to Close:

Approval by regulatory authorities and Hawaiian Holdings, Inc. shareholders.
Expected to close in 12-18 months, with the combined organization based in Seattle under the leadership of Alaska Airlines CEO Ben Minicucci.