Rolls-Royce has signed an agreement to sell its Bergen Engines medium speed liquid fuel and gas engines business to global engineering group Langley Holdings for an enterprise value of €63 million. Langley is funding the deal, together with working capital requirements for the Bergen business going forward, from existing cash reserves. The agreed sale of
Global investment firm Carlyle and Fly Leasing (FLY) have announced that an affiliate of Carlyle Aviation Partners (Carlyle Aviation) completed its previously announced acquisition of FLY. Carlyle Aviation is the commercial aviation investment and servicing arm within Carlyle’s US$61 billion Global Credit platform. The closing of the transaction follows the receipt of regulatory approval from
The SIA Group has posted its financial performance for the first quarter FY2021/22. An increase in both passenger and cargo flown revenue resulted in Group revenue increasing by SG$444 million (+52.2%) year-on-year to SG$1,295 million. Cargo flown revenue grew by SG$214 million (+32.4%), as the calibrated resumption in passenger flights contributed to an increase in
International Airlines Group S.A (IAG), the parent company of carriers Aer Lingus, British Airways, IAG Cargo, Iberia, and Vueling, the LEVEL brand and Avios, the IAG reward program, has released consolidated results for the six months up to June 30, 2021. Passenger capacity in Q2 was 21.9% of 2019 and continues to be adversely affected
American Airlines and JetSMART, an ultra-low-cost carrier with principal operations in Chile and Argentina, have signed a letter of intent to create a broad network and a rewarding customer offering in the Americas. This proposed partnership would uniquely tie together the full-service, global presence of American with the complementary network of JetSMART in South America
Boeing Co’s shares rose 5% on the news that the American planemaker posted a first-quarter profit, the first in approaching two years. The company had been severely hit by two major crises, the COVID-19 pandemic and the grounding of its 737 MAX jet. As a consequence, previous plans to trim down the company’s workforce by
Airbus has reported consolidated financial results for the half-year (H1) ended June 30, 2021. Consolidated revenues increased 30% year-on-year to €24.6 billion (H1 2020: €18.9 billion), mainly reflecting the higher number of commercial aircraft deliveries compared to H1 2020. A total of 297 commercial aircraft were delivered (H1 2020: 196 aircraft), comprising 21 A220s, 237
For the second quarter of 2021, Hawaiian Airlines has reported a net loss of US$6.2 million, and an adjusted net loss of US$73.8 million. The company reported total revenue of US$410.8 million, down 42% compared to the second quarter of 2019, on 30% lower capacity. Total operating expenses was US$392.3 million, and operating expenses excluding
JetBlue Airways has reported its results for the second quarter of 2021: The airline reported GAAP diluted earnings per share of US$0.20 in the second quarter of 2021 compared to diluted earnings per share of US$0.59 in the second quarter of 2019. Adjusted loss per share was US$0.65 in the second quarter of 2021 versus
Air Canada has released its operational results for the second quarter of 2021. The carrier recorded a net loss of CA$1.165 billion in the second quarter of 2021 compared to a net loss of CA$1.752 billion for the same quarter in 2020. In the second quarter of 2021, on a year-over-year capacity increase of 78%,
