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IAI reports full-year 2021 net income of US$148 million

Israel Aerospace Industries (IAI) has reported a 2021 growth in sales to US$4,477 million, compared to US$4,184 million in 2020. The company reported an 11% increase in net income to US$148 million compared to net income of US$133 million in 2020 and 10% growth in annual EBITDA to US$436 million compared to US$397 million in 2020. Gross profit in 2021 increased by US$31 million, to US$696 million in 2021 compared to US$665 million in 2020.

Annual operating profit increased 11% to US$217 million compared to US$195 million in 2020. R&D activity (in-house and contracted) increased 5% in 2021 to US$1,083 million compared to US$1,036 million in 2020.

Order backlog at the end of 2021 was US$13.4 billion, representing three years of operation, compared to US$12.6 billion at the end of 2020. IAI reported free cash flow of approx. US$905 million. (£1.00 = US$1.31 at time of publication).

AAR acquires Trax to accelerate digital solutions strategy

March 21, 2023

Chicago-headquartered AAR CORP. (AAR) has announced its acquisition of Trax Corp. (trax), a leading independent provider of aircraft MRO and fleet management software to accelerate its digital solutions strategy. AAR is a global aerospace and defence aftermarket solutions company with operations in over 20 countries. It supports commercial and government customers through two operating segments:

Panasonic Avionics enhances software development capabilities in Pune, India

March 21, 2023

Panasonic Avionics, a leading supplier of in-flight entertainment and connectivity systems (IFEC), continues to enhance its global software development capabilities in Pune, India. Panasonic Avionics’ operation in Pune is the latest Panasonic investment in India. Panasonic entered the Indian market in 1972 and since then the company has grown from strength to strength and now

WestJet Cargo receives certification from Transport Canada for 737-800 Boeing Converted Freighters

March 21, 2023

WestJet Cargo has received Transport Canada’s approval and official certification of its four 737-800 Boeing Converted Freighters (BCF). Following certification, WestJet Cargo and the GTA Group will expeditiously implement three freighters into service, as dedicated aircraft that will fulfil the large-scale needs of businesses, freight forwarders, shippers and individual customers across North America. The fourth

Swissport secures major contract with Sky Airline in Chile

March 21, 2023

Swissport International, a leading provider of airport ground services and cargo handling, has secured a major contract with Sky Airline, the first low-cost carrier in the Chilean market. Starting from April 2023, Swissport will provide ground services and cargo handling at all 15 airports Sky flies to in Chile. The portfolio includes serving passengers at

Turkish Technic posts strong financial results for 2022

March 21, 2023

Turkish Technic has posted its financial results for 2022, which marked successful growth and solid strategic acceleration. The company recorded a 37% growth compared to the previous year with US$1,42 billion in revenue and US$119 million in operational profit and increased its market share to 1.9%, reaching the highest growth rate and revenue in the

HKIA selects SITA to provide carbon management platform

March 21, 2023

Hong Kong International Airport (HKIA) has selected SITA to provide a carbon management platform to monitor data on carbon emissions across the airport environment, helping to track key performance indicators as the airport progresses towards its net zero carbon goal. SITA’s carbon management platform, to be fully deployed by summer 2023, will collect and aggregate

ASI and Etihad Engineering collaborate to expand aircraft maintenance facility

March 21, 2023

ASI (Aircraft Support Industries), a leading provider of aviation infrastructure solutions, has announced its collaboration with Etihad Engineering to expand the capacity of its aircraft maintenance facility in Abu Dhabi. Etihad Engineering, one of the largest commercial aircraft MRO services providers and the expansion project in partnership with ASI, aims to cater to the increasing

ASQS further grows presence in Canada with Central Mountain Air partnership

March 21, 2023

ASQS, a global leader in aviation safety and quality management software, announced its collaboration with Western Canadian Central Mountain Air (CMA), further growing its presence in the Canadian aviation industry. Central Mountain Air, based in Smithers, British Columbia with further bases at Vancouver International Airport and Calgary International Airport, is a privately owned and operated

Boeing set to manufacture 184 AH-64E Apaches for the U.S. Army and overseas users

March 20, 2023

Boeing has confirmed it is to build 184 AH-64E Apaches for the U.S. Army as well as several international customers. This will include the first Apaches for Australia. This latest award, valued at US$1.9 billion, will bring the total current funded value of the contract to US$2.1 billion. Future obligations have the potential to see

Investor group led by Apollo completes acquisition of Atlas Air Worldwide

March 20, 2023

Atlas Air Worldwide (Atlas) a leading global provider of outsourced aircraft and aviation operating services, has released that the investor group led by funds managed by affiliates of Apollo, together with investment affiliates of J.F. Lehman & Company and Hill City Capital, has completed its previously announced acquisition of the company. The company will continue

Afroport Mauritanie and IATA sign agreement on ground handling safety

March 20, 2023

The International Air Transport Association (IATA) and Afroport Mauritanie have signed an agreement to enhance the safety of ground operations in Mauritania with a focus on two critical global standards: IATA Ground Operations Manual (IGOM) and the IATA Safety Audit for Ground Operations (ISAGO). The agreement was signed by Kamil Alawadhi, IATA’s Regional Vice President,

Recaro Business Class seats take flight on Iberia’s A350 cabin

March 20, 2023

The Recaro Aircraft Seating (Recaro) CL6720 Business Class seat with doors took flight in Iberia’s A350 cabin on the route from Madrid to Buenos Aires in January. A total of 31 CL6720 seats are outfitted in the A350 business-class cabin. The Premium-Economy and Economy cabins are also fully equipped with the Recaro PL3530 and the

Air France-KLM repays €300 million of outstanding €600 million French State perpetual hybrid bonds

March 20, 2023

Air France KLM has repaid €300 million of outstanding French State perpetual bonds, exceeding the 75% COVID-19 recapitalisation aid redemption threshold. In April 2021, Air France-KLM and the French State agreed to convert the direct French State loan of €3 billion, granted by the French State to Air France-KLM in late May 2020, into perpetual

AAR elects John W. Dietrich to Board of Directors

March 20, 2023

AAR CORP. has released that John W. Dietrich has been elected to its Board of Directors, effective immediately. Dietrich is the President and Chief Executive Officer of Atlas Air Worldwide Holdings (Atlas), a leading global provider of outsourced aircraft and aviation services, and serves as the Chairman of the National Defence Transportation Association. “Mr. Dietrich

Finnair increases use of sustainable aviation fuel

March 20, 2023

Finnair is increasing the use of sustainable aviation fuel (SAF) as part of its goal to reduce carbon emissions from flying. Finnair has purchased 750 tonnes of SAF from its partner Neste for use on flights departing from Helsinki Airport. Finnair’s customers are also involved in reducing carbon dioxide emissions from flights: a small part

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IAI reports full-year 2021 net income of US$148 million

AAR acquires Trax to accelerate digital solutions strategy

Panasonic Avionics enhances software development capabilities in Pune, India

WestJet Cargo receives certification from Transport Canada for 737-800 Boeing Converted Freighters

Swissport secures major contract with Sky Airline in Chile

Turkish Technic posts strong financial results for 2022

HKIA selects SITA to provide carbon management platform

ASI and Etihad Engineering collaborate to expand aircraft maintenance facility

ASQS further grows presence in Canada with Central Mountain Air partnership

Boeing set to manufacture 184 AH-64E Apaches for the U.S. Army and overseas users

Investor group led by Apollo completes acquisition of Atlas Air Worldwide

Afroport Mauritanie and IATA sign agreement on ground handling safety

Recaro Business Class seats take flight on Iberia’s A350 cabin

Air France-KLM repays €300 million of outstanding €600 million French State perpetual hybrid bonds

AAR elects John W. Dietrich to Board of Directors

Finnair increases use of sustainable aviation fuel

Aviation News Categories

2023 MEDIA KIT

Learn more on how AviTrader can expand your market

Tamar Jorssen

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