Global News Alert.

Icelandair

Icelandair said that it aims to sign a final purchase agreement by mid-June. "Icelandair will purchase 50% of the shares before the end of June and the remaining 50% during 2008," it said in a statement. CEO Jon Karl Olafsson said, "We have been looking towards Eastern Europe where we think that we have good business opportunities with our knowledge and experience. . .It is obvious that if Icelandair Group acquires Travel Service, it will grow fast this year. This airline is, regarding number of passengers and fleet, close to Icelandair's scheduled operations in size. We consider this a good investment." May 21, 2007

JAT Airways

JAT Airways reached agreement with Portoroz Airport in Slovenia to operate a seasonal weekly ATR42 charter frequency to the Adriatic resort area from Belgrade beginning June 16 and running through September. Belgrade outbound flights will continue to Rome Fiumicino. May 16, 2007

SAS Scandinavian Airlines

SAS Scandinavian Airlines will unveil a new long-term plan next month called Strategy 2011 that will outline its future fleet and efficiency goals. The plan will focus on "cutting costs further, planning growth for the future and improving the structure of our nine SAS airlines. It will target [euro]2.7 billion ($3.66 billion) in cost savings within five years, according to press reports. May 17, 2007

Swiss International Air Lines

Swiss International Air Lines added the fifth new Airbus A320 to its fleet since autumn 2006 and completed its Airbus narrowbody fleet expansion. It now operates a total fleet of 74. May 17, 2007

TAP Portugal

TAP Portugal plans to expand its African and Brazilian services this summer as it adds three former Austrian Airlines A330-200s to its fleet, CEO Fernando Pinto said in Copenhagen this week. A fourth aircraft may follow but no decision has been made. Increased frequencies to Luanda, Brasilia and potential nonstop services to Maputo, Johannesburg and an eighth Brazilian destination are in the offing, Pinto said. TAP recently announced a codeshare arrangement with TAM . May 18, 2007

ZZ

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May 14, 2007