17 March 2021

Fraport retains positive outlook despite posting €690 million 2020 fiscal year loss

Financial, Top Stories

Fraport AG Frankfurt Airport Services worldwide (Fraport) has released its financial results for fiscal year 2020, ending December 31. For the first time in 20 years net profit for the Group dropped into negative territory at €-690.4 million, despite the implementation of extensive cost-cutting measures. Group revenue decreased by 54.7% year-on-year to €1.68 billion. Adjusting […]

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Leonardo announces launch of Leonardo DRS IPO for a minority stake

Financial

Leonardo’s wholly owned subsidiary in the U.S., Leonardo US Holding, has launched its initial public offering (IPO) for a minority stake of Leonardo DRS, (DRS) common shares. The initial public offering consists of 31,900,000 shares of DRS common stock to be offered at an anticipated initial public offering price range of between US$20.00 and US$22.00

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AJW Group and MENA Aerospace join forces to enhance aircraft support in the Middle East

MRO & Production

AJW Group, an independent specialist in the supply and repair of aircraft spare parts with headquarters in the U.K., has entered into a regional partnership agreement with Bahrain-owned aviation service provider, MENA Aerospace to offer enhanced aircraft part support, component MRO and logistical support to fixed- and rotary-wing aircraft operating in the Middle East. This

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Aircraft engine market regaining REVS, but lengthy recovery timeframe says IBA

Uncategorized

The aircraft engine market is showing early signs of recovery from the worst effects of the COVID-19, but is not set to return to pre-pandemic levels until the mid-2020s, according to aviation data and advisory company IBA. During a webinar on the engine market, IBA outlined how the vaccine rollout is gathering pace in certain

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Lufthansa Cargo expands CEIV Pharma-certified network

Other News

The Lufthansa Cargo Pharma Centers in Munich and Chicago, which opened in summer 2020, were recently CEIV Pharma-certified. This means that, in addition to CEIV Pharma certification as an airline, Lufthansa Cargo offers an excellent pharma network of 32 stations worldwide. After extensive testing, the CEIV Pharma label of the International Air Transport Association also

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Pel-Air receives second Beechcraft King Air 350 for NSW Air Ambulance Service

Aircraft & Engines

Pel-Air, a subsidiary of Australia’s independent regional and domestic airline Rex, has taken delivery of the second of five Beechcraft King Air 350 aircraft for the NSW Air Ambulance Service, commencing operations in January 2022. The first aircraft was delivered in November 2020. The King Air 350, with serial number FM-92, has been registered as

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