1 March 2022

EU sanctions will see hundreds of leases cancelled for Russian planes

Multiple lessors are set to terminate lease agreements with Russian airlines by March 28 following sanctions imposed by the EU. It is estimated that 777 of 980 commercial passenger jets currently in operation are leased, of which 515 jets with an estimated value of £7.5 million are rented from foreign companies in the predominantly Ireland-based …

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Iberia Maintenance awarded V2500 engines contract from Qatar Airways

Iberia Maintenance has been awarded a ten-year contract for the repair and maintenance of V2500 engines from Qatar Airways. This strategic agreement will result in scheduled visits over ten years. All events will be carried out at Iberia Maintenance’s engine workshop at its facilities next to Madrid airport, with more than 52,000 m² dedicated to …

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Leonardo signs €380 million contract for technical-logistical support of Italian Air Force’s C-130J fleet

The Aeronautical Armaments and Airworthiness Directorate (DAAA) has approved a contract for the technical-logistical support of the Italian Air Force’s C-130J Super Hercules airlifter fleet. The agreement, which lasts five-years and is worth a total of €380 million (£317 million), was signed on Jan. 28, 2022, between the Italian Air Force and the Temporary Business …

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Finnair withdraws guidance and is preparing for prolonged potential closure of Russian airspace

Finnair has released that the potential Russian airspace closure would notably impact air traffic between Europe and Asia, which plays an important role in Finnair’s network. The negative financial impacts on Finnair will be significant especially if the situation prolongs. Due to this, the company withdraws its guidance related to Q1 2022 and the operational …

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