Chorus Aviation (Chorus) has completed its acquisition of Falko Regional Aircraft Limited (Falko), as previously announced on February 27, 2022. This acquisition transforms Chorus into a premier full-service provider in regional aviation with unique capabilities to maximise value at every stage of an aircraft’s lifecycle. The completion of this transaction establishes Chorus as one of
Spirit Airlines (Spirit) has rejected an offer of US$3.6 billion, US$33.00 per share, made by ultra-low-cost carrier JetBlue at the beginning of April this year. This offer is appreciably higher than the US$2.9 billon, then worth US$25.83 per share, cash and stock offer from Frontier Airlines (Frontier), announced in February this year. Spirit has chosen
Embraer and Aernnova have concluded the strategic partnership agreement announced in early 2022. Therefore, Aernnova now owns all shares of Embraer Metálicas and Embraer Compósitos, in an investment totalling approximately US$174 million. For Embraer, this partnership is another opportunity to increase the production capacity of these two units, since besides supplying components for the company’s
Southwest Airlines has reported its first-quarter 2022 financial results. The company posted a net loss of US$278 million, excluding special items, a net loss of US$191 million down 8.8% compared with first-quarter 2019. Cash provided by operations was US$1.1 billion. The company was encouraged by the sharp rebound in revenue trends in March 2022, despite
Embraer’s first-quarter 2022 earnings have reaffirmed the company’s guidance and show a clear narrowing of its net loss. The Brazilian planemaker delivered 14 jets in the first quarter, of which six were commercial aircraft and eight executive jets (six light and two mid-size). The firm order backlog ended 1Q22 at US$17.3 billion (+US$0.3 billion versus
MTU Aero Engines AG (MTU) generated revenue of €1,180 million in the first quarter of 2022. That was 19% more than in the prior-year period (1-3/2021: €989 million). The operating profit was 52% higher at €131 million (1-3/2021: €86 million). The adjusted EBIT margin was 11.1%, compared with 8.7% in the first quarter of 2021. Net income rose by
Boeing has reported first-quarter revenue of US$14.0 billion, driven by lower defence volume and charges on fixed-price defence development programmes, partially offset by commercial services volume. GAAP loss per share of (US$2.06) and core loss per share (non-GAAP) of (US$2.75) also reflect US$212 million of pre-tax charges for impacts of the war in Ukraine. Boeing recorded
Jazeera Airways has posted a net profit of KD3.8 million (US$12.43 m) for the first quarter (Q1) of 2022, compared to a net loss of KD5.2 million (US$17.00 m) in the first quarter of 2021. Total revenue for the quarter reached KD35.7 million (US$116.74), up 339.2%, while operating profit stood at KD5.3 million (US$17.33 m),
Alaska Air Group has reported financial results for its first quarter ending March 31, 2022. The Group reported net loss for the first quarter of 2022 under Generally Accepted Accounting Principles (GAAP) of US$143 million, compared to a net loss of US$131 million in the first quarter of 2021. Net loss for the first quarter
Nordic Aviation Capital Designated Activity Company (NAC) has released that the U.S. Bankruptcy Court for the Eastern District of Virginia has confirmed the company’s plan of reorganization, which should enable the company to emerge from Chapter 11 before the end of May. The plan was approved by the court with the consent of the company’s
