Transaero To Cease Operations in December

It looks like it is over for Russia's largest privately owned airline, Transaero, as the takeover by State-owned flag carrier Aeroflot has fallen through. Today, Transaero's stocks plummeted by 53% to an all-time low, trading at just 12 rubles (less than 20 cents) on the Moscow Stock Exchange. Some Background…

Low-Cost Canadian Carrier CanJet Indefinitely Ceases Operations

This week the Canadian airline, CanJet, has finally called it quits. The leisure and charter carrier was a shell of its former self and after multiple cuts which slowed but didn’t stop the financial bleeding, president Stephenn Rowe pulled the plug. The 13 year old carrier based in Halifax, Nova…