Canadian aircraft lessor Chorus Aviation has posted net income of CA$ 22.9 million for the first quarter of 2022, a quarter-over-quarter increase of CA$61.0 million primarily due to a decrease in one-time restructuring costs of CA$81.8 million related to the 2021 Capacity Purchase Agreement (CPA) amendments and lower expected credit loss provisions of CA$2.5 million
Despite a slow start to the year due to the Omicron variant of the COVID-19 pandemic, Lufthansa saw a noticeable increase in customer demand, particularly in March, for both holiday travel and also the business travel segment. Compared to the previous year, the Group more than doubled revenue to €5.4 billion (1Q 2021: €2.6 billion).
Atlas Air Worldwide Holdings has reported first-quarter 2022 net income of US$81.5 million, compared to US$89.9 million in 2021 (which included US$40.9 million, US$31.9 million after tax, of CARES Act grant income). On an adjusted basis, EBITDA totaled US$202.8 million in the first quarter of 2022 compared to US$181.3 million in the prior-year period. For
Avion Systems of Ft. Lauderdale, FL., has acquired Grecco Aerospace of Miami, FL. (Grecco) and formed Avion Repair Services Inc. (ARS). Grecco Aerospace, an FAA/EASA accredited aviation repair facility has capabilities to overhaul and repair commercial components specifically pneumatic, hydraulic and fuel related for Boeing and Airbus platforms. The management team lead by Kirenia Bustillo
With its strong portfolio of world-leading jets and an expanding service network, Bombardier is uniquely positioned to capitalize on the demand for both new jets and services. This strength supported consolidated cash generation of US$173 million for the first quarter of 2022, which represents a US$578 million improvement compared to the same quarter last year.
Qantas has reached an agreement to fully acquire Australian-based operator, Alliance Aviation Services (Alliance), enabling the national carrier to better serve the growing resources sector. The agreement, which is subject to a vote from Alliance shareholders and competition clearance, would see Alliance become a wholly owned part of the Qantas Group. Alliance has a fleet
Airbus has announced that commercial aircraft production for the A320 family is progressing towards a monthly rate of 65 aircraft by summer 2023, in a complex environment. Following an analysis of global customer demand as well as an assessment of the industrial ecosystem’s readiness, the company is now working with its suppliers and partners to
Irish lessor Avolon, which has ten leased jets still trapped in Russia, has recorded a first-quarter US$304 million impairment to cover the full financial impact. “While we continue to make every effort to recover these assets, we are recognising the full impairment this quarter, putting the financial impact of Russian sanctions firmly behind us,” Avolon’s
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
