European shares post weekly loss after mixed U.S. data

* Next, Dixons down on target price cut by Exane (Updates with closing prices)

Unit of China's HNA to buy Avolon Holdings for $2.5 billion

- Irish aircraft leasing firm Avolon Holdings Ltd said it agreed to be acquired for about $2.5 billion by Bohai Leasing Co Ltd , a unit of Chinese aviation and shipping conglomerate HNA Group.

UPDATE 1-Unit of China's HNA to buy Avolon Holdings for $2.5 bln

Sept 3 - Irish aircraft leasing firm Avolon Holdings Ltd said it agreed to be acquired for about $2.5 billion by Bohai Leasing Co Ltd, a unit of Chinese aviation and shipping conglomerate HNA Group.

UPDATE 1-Russia's Aeroflot approves acquisition of debt-laden rival

MOSCOW, Sept 3 - The board of Russian airline Aeroflot has approved the acquisition of a 75 percent stake in debt-laden rival Transaero, the state-owned company said on Thursday.

China building two aircraft carriers - Taiwan defence ministry report

TAIPEI - China is building two aircraft carriers that will be the same size as its sole carrier, a 60,000-tonne refurbished Soviet-era ship, according to a new Taiwanese Defence Ministry report on the capabilities of the People's Liberation Army (PLA).

Philippine Airlines says to shed 117 jobs in non-core services

MANILA, Sept 3 - Philippine Airlines Inc (PAL) said on Thursday it is laying off 117 domestic ground crew, or about 2 percent of its total staff strength, in November to focus on its core operations for sustaining profitability.

FAA names two new officials to lead on drone policy

WASHINGTON - The Federal Aviation Administration on Wednesday named two new officials to lead its effort to incorporate commercial unmanned aerial systems, or drones, into the U.S. airspace.

CORRECTED-FAA names two new officials to lead on drone policy

WASHINGTON, Sept 2 - The Federal Aviation Administration on Wednesday named two new officials to lead its effort to incorporate commercial unmanned aerial systems, or drones, into the U.S. airspace.

Market turbulence rattles small Indian IPOs as bigger deals loom

MUMBAI - A lukewarm response to two small initial public offerings (IPOs)in India this week has raised concerns about the impact of market turmoil ahead of big-name debuts including Cafe Coffee Day and airline IndiGo.

UPDATE 1-Russia's Aeroflot says to buy 75 pct of competitor Transaero

MOSCOW, Sept 1 - Russian state airline Aeroflot said on Tuesday it would acquire a 75-percent stake in struggling competitor Transaero, creating one of the world's largest air transport companies.