IAI and Aviatic to establish aircraft maintenance center in Lithuania

Israel Aerospace Industries (IAI) has signed a Memorandum of Understanding (MOU) with Aviatic MRO UAB for a strategic cooperation in establishing an aircraft maintenance center at the Siauliai Airport, Lithuania. The new site will provide aircraft maintenance and overhaul services, the conversion of B737NG passenger airplanes into cargo configuration, and the training, certification, and licensing […]

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IAI financial year 2020 net income increased 48%

Financial

Israel Aerospace Industries (IAI), Israel’s largest national military and civilian security defense company, has issued its consolidated financial statements for the year ended December 31, 2020. The company’s revenues in 2020 reached a record of US$4,184 million, representing the highest sales revenues ever recorded in company history, compared with US$4,108 million in 2019. The increase

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EU Commission approves hybrid loan by the State of Finland to Finnair

Financial

Finnair and the State of Finland have signed an agreement on a hybrid loan of maximum €400 million to support Finnair. The decision was made by the Plenary Session of the Government on February 18, 2021. The arrangement has the approval of the EU Commission’s competition authority in line with the European Union’s state aid

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MHIRJ teams up with IBM to build its consolidated aviation business on the cloud

Information Technology

IBM and MHIRJ, the Montréal-based aviation group created from the acquisition of the Bombardier CRJ Series program by Mitsubishi Heavy Industries, announced their collaboration to build MHIRJ’s consolidated business on the cloud. MHIRJ, which provides aircraft maintenance, repair and overhaul services, has chosen to deploy the SAP S/4HANA ERP solution hosted on the IBM cloud

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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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Heike Tamm

IAI and Aviatic to establish aircraft maintenance center in Lithuania

IAI financial year 2020 net income increased 48%

EU Commission approves hybrid loan by the State of Finland to Finnair

MHIRJ teams up with IBM to build its consolidated aviation business on the cloud

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

Leonardo announces launch of Leonardo DRS IPO for a minority stake

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

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

Lufthansa Cargo expands CEIV Pharma-certified network

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

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