Country’s national carrier Air India has signed a financing arrangement worth $550 million with the US Exim Bank, to finance the purchase of three Boeing 777 and five Boeing 737-800 aircrafts.

Under the deal, the bank would give guarantee for the amount, which would be provided by Standard Chartered Bank to the national carrier to buy aircrafts.

Palma de Majorca, Spain - The Spanish civil aviation authorities have suspended the operating licence of Futura International Airways after it sought bankruptcy protection, the charter carrier said Monday.

The licence could, however, be reactivated if Futura found an investor to finance its savings plan before 2009, the airline quoted the aviation authorities as saying.

Futura chairman Roman Pane earlier said the airline would reduce its staff of nearly 1,200 by half and trim its high-season fleet from 22 to about 12 aircraft.

Madrid - The Spanish transport ministry rejected claims it leaked confidential details of its investigation into the August 20 Spanair air crash which killed 154 people and left 18 injured in Madrid, the Spanish media reported Saturday

"I am also disgusted by this. This is a lack of respect for the survivors," Minister Magdalena Alvarez was quoted as saying, adding she would ensure that those responsible for the leaks would be brought to justice.

Earlier this week, a preliminary report of the commission investigating the crash was leaked, revealing that the Spanair MD-82 jetliner's wing flaps were not properly extended and that the plane's take-off warning system failed to alert the pilots of the problem.

Jakarta - At least seven people were injured when turbulence hit a Boeing 747-400 jetliner belonging to China Airlines on Saturday en route from Taipei to Indonesia's Bali island, an airport official said.

A spokesman for the Bali's Ngurah Rai International Airport named Dimyati said the CAL-687 jet carrying 357 people dropped drastically to about 25,000-feet altitude from 35,000 feet, jolting passengers.

Rome - Italy's near-bankrupt flagship carrier, Alitalia, is to continue with regular scheduled flights, at least until Monday September 22, according to the airline's government-appointed commissioner.

"Much depends on what will happen in the next few days," Commissioner Augusto Fantozzi said in the aftermath Thursday of the collapse of a bid by a consortium of private investors to take control of the state's controlling stake in Alitalia.

Fantozzi said that by law the company was compelled to continue providing services as long as funds are available. The commissioner indicated last week that money to buy fuel was in short supply.

Athens - More than 200 workers at Greek state carrier Olympic Airlines blocked the taxiway at Athens International Airport for more than 20 minutes Thursday over plans to shut down and privatise the airline.

The demonstration ended up blocking the runway but did not affect any flights, officials at the airport said.