Further to the announcement dated February 13, 2020, SIA Engineering Company Limited (SIAEC) has released that SIAEC’s acquisition of 49% of the share capital of PAES was completed on August 10, 2023. The consideration for SIAEC’s acquisition of the 49% stake from Pos Aviation Sdn Bhd (PASB) was MYR4 million in cash. This was arrived […]
SIAEC completes acquisition of 49% share capital of PAES Read More »
The proposal negotiated last week between Lufthansa Group and Vereinigung Cockpit (VC) has now been fully accepted by the Pilots’ union. The negotiations have resulted in the approval of a proposed new ‘VTV’ collective remuneration agreement and ‘MTV’ collective terms-of-employment agreement for the pilots of Lufthansa Airline and Lufthansa Cargo, who number some 5,200 people.
Lufthansa Group and Vereinigung Cockpit reach agreement over pilots’ pay Read More »
Archer Aviation, a leader in electric vertical take-off and landing (eVTOL) aircraft, has reported operating and financial results for the second-quarter ended June 30, 2023. The company reported total operating expenses of US$181.4 million and a net loss of US$-184.1 million. Cash, cash equivalents and short-term investments stood at US$407.6 million at the end of June.
Archer secures US$215 million from various investors Read More »
Wheels Up Experience (Wheels Up), the private aircraft charter enterprise faces closure as demand for personal air transport continues to fall post the COVID-19 pandemic. According to REUTERS, the warning comes despite Delta Air Lines providing the business with substantial short-term funding. Wheels Up charters private aircraft to clients by the hour and according to
Wheels Up faces closure as post-pandemic demand drops Read More »
The TUI Group is experiencing very high demand for holiday travel. For the first time since the beginning of the pandemic, the Group closed the third financial quarter profitably. All segments showed a positive operating performance and contributed to the improvement in earnings. The growth sector Hotels & Resorts reported underlying earnings above pre-crisis levels
TUI Group reports significant increase in earnings Read More »
ST Engineering has announced the sale of 11 new-generation and current-generation narrow-body aircraft by its Aviation Asset Management business to Keystone Holdings (Global) Pte. Ltd. (Keystone). Keystone is a 50-50 joint venture between ST Engineering’s Commercial Aerospace and Sojitz Corporation. This sale is consistent with the Group’s strategy of working with partners to grow its Aviation
ST Engineering sells 11 narrow-body aircraft to Keystone Read More »
The GEnx engine family has surpassed the 50 million flight-hour mark in less than 12 years, the fastest rate ever for a commercial wide-body engine. The GEnx-1B, which powers the Boeing 787 Dreamliner family, has accumulated nearly 32 million hours since entering service in 2012. The GEnx-2B has accumulated 18 million hours since entering service
GEnx engine family surpasses 50 million flight-hours Read More »
Eve Air Mobility (Eve) and DHL Supply Chain, a global leader in the realm of warehousing and distribution, have jointly unveiled a Memorandum of Understanding (MoU) that signals their intent to develop a supply chain tailored to support Eve’s electric vertical take-off and landing (eVTOL) aircraft operation. This partnership seeks to comprehensively explore the unique
Eve collaborates with DHL to craft innovative supply chain model for eVTOL support Read More »
AMETEK MRO Muirhead Avionics has welcomed David Bentley as the Divisional Vice President. Bringing a wealth of expertise from his prior leadership roles at Dowty/Smiths/GE and NORDAM spanning over twenty years, Bentley has been entrusted with the role of Vice President and Business Unit Manager for the UK market. This appointment follows his successful tenure
AMETEK MRO Muirhead Avionics welcomes David Bentley as Divisional Vice President Read More »
Ending June 2023, the first half of the year has seen major growth across all financial sectors of Fraport, the global airport company. This has been fuelled by a noticeable increase in passenger numbers at the Group’s airports. Group revenue rose by 33.8% year-on-year to €1,804.3 million in the first six months of 2023. The
Passenger growth provides boost to Fraport financial performance Read More »
