COVID-19 continued to wreak havoc on Ryanair’s business during the first quarter of 2021, with most Easter flights cancelled and a slower-than-expected easing of EU Government travel restrictions into May and June. Significant uncertainty around travel green lists (particularly in the U.K.) and extreme Government caution in Ireland meant that first-quarter bookings were close-in [DD1] and at
American Airlines (American) has released its financial results for the second quarter of 2021 in which it has posted a net profit of US$19 million. However, excluding net special items, the net loss for the quarter was -US$1.1 billion on a second-quarter revenue of US$7.5 billion, an 87% increase on the year’s first quarter. The
BAA Training has announced it will be getting financing for its global expansion provided by U.K. Export Finance (UKEF) and U.S. Apple Bank for Savings. Two companies belonging to Avia Solutions Group (ASG) – BAA Training and ASG Asset Management – were involved in signing the agreements with the financial institutions. The deal, worth €31
Platinum Equity has signed a definitive agreement to acquire Unical Aviation Inc. and certain of the company’s affiliates (Unical), a leading provider of aircraft parts and components to the global commercial aerospace market, from affiliates of the company’s founders. The acquisition includes Unical Aviation, Unical MRO, Unical 145, and Unical Aero. Unical Defense Inc., an
Topcast Aviation Supplies (TOPCAST), a global leader in aircraft parts distribution and MRO services, has completed the acquisition of AML Aviation Technologies (AML), a Civil Aviation Administration of China (CAAC)-approved aircraft components maintenance company located in Shanghai. AML was established by Aviation Industry Corporation of China in 2002. With diverse testing facilities and repair capabilities,
The board of Sydney Airport Holdings has opted to reject last week’s offer of US$16.6 billion for Sydney Airport, which represented a 42% premium on the pandemic-affected value of the company. The offer came from the Sydney Aviation Alliance, a consortium comprising IFM Investors, QSuper, and Global Infrastructure Partners. Sydney Airport Holdings said on Thursday
Delta Air Lines (Delta) has released its financial results for the June quarter of 2021: Delta reported an adjusted pre-tax loss of US$881 million excluding US$1.5 billion of benefit related to the first and second payroll support program extensions (PSP2 and PSP3, respectively) and mark-to-market adjustments on its investments Adjusted operating revenue was US$6.3 billion,
SITA, the global IT provider for the air transport industry, has announced the acquisition of Safety Line S.A.S., the Paris-based start-up specializing in digital solutions for aviation safety and efficiency. This acquisition will strengthen SITA’s Digital Day of Operations portfolio, helping airlines drive more efficiencies and fuel savings around the aircraft while taking immediate and
Deutsche Lufthansa AG has again successfully issued a bond with a total volume of €1 billion. The bond, with a denomination of €100,000, was placed in two tranches with a term of three and eight years respectively, and a volume of €500 million each: the tranche with a term until 2024 bears interest at 2.0%
StandardAero has received all required regulatory approvals and officially completed its acquisition of Signature Aviation’s Engine Repair and Overhaul (ERO) business. Signature’s ERO business is an engine maintenance, repair and overhaul (MRO) provider made up of the following five entities: Dallas Airmotive, H+S Aviation, W.H. Barrett Turbine Engine Company, International Governor Services (IGS) and International
