Dubai Aerospace Enterprise (DAE) has reported its financial results for the year ended December 31, 2021. Operating profit for the full year 2021 was US$514.4 million compared to US$584.0 million for the full year 2020. 2021 saw a decrease in lease revenue and an increase in expenses offset by an increase in gain on disposal
Astronics Corporation, a leading provider of advanced technologies for global aerospace, defence and other mission-critical industries, has reported preliminary revenue and bookings for the fourth quarter of 2021. Astronics’ unaudited preliminary revenue in the fourth quarter of 2021 was approximately US$116 million of which approximately US$99 million was from the Aerospace segment and US$17 million
American Airlines has signed a definitive investment agreement with GOL, Brazil’s largest airline, deepening the relationship between the two carriers to create the broadest and most rewarding network in the Americas. The combined networks will provide customers with more than 30 destinations in the US served by American and more than 34 new destinations in
In an effort to avoid its current stake in the former Bombardier C Series programme being diluted by a next round of financing, Quebec has agreed to contribute US$300 million to a combined total of US$1.2 billion in new investment. According to REUTERS news agency Quebec will maintain its 25% minority stake in the A220
The New South Wales (NSW) Government has helped generate more than 2,500 new jobs, providing support that has secured Sydney as the national hub for Rex Airlines. The package is part of the US$250 million “Jobs Plus” programme, offering companies support to establish and expand their footprint in NSW, including payroll tax relief, streamlined planning
Israeli flag-carrying airline El Al has announced it has entered into a non-binding memorandum of understanding (MoU) to purchase its smaller competitor, Arkia. The move comes after El Al was forced to cut down its operations, including trimming its workforce by one-third, cancelling routes and reducing its all-Boeing fleet to 29 from 45 planes as
Spirit AeroSystems revenue in the fourth quarter of 2021 was US$1.1 billion, up 22% from the same period in 2020, primarily due to higher production deliveries of the Boeing 737 and increased revenue from the recently acquired A220 and Bombardier programmes. These increases were partially offset by lower wide-body production rates due to reduced international
Daher has entered into a definitive agreement with the Triumph Group for the acquisition of its metallic aerostructures production and assembly business located in Stuart, Florida, USA. The Stuart operation specialises in the assembly of large, complex metallic structures such as wing and fuselage assemblies and has approximately 400 employees. The Stuart business is located
TrueNoord, the specialist regional aircraft lessor, has secured additional support from Citibank, Société Générale Corporate & Investment Banking, Royal Bank of Canada and Farallon Capital Management which brings total committed and available funds to US$250 million. This will be used by TrueNoord to finance business development and expand its portfolio of 50-150-seat class aircraft which
As one of three Latin American carriers which have filed for bankruptcy protection since the outbreak of the COVID-19 pandemic, Aeromexico has received court approval for its restructuring plan. “I could not be more pleased to tell you the plan of reorganization is confirmed,” U.S. Bankruptcy Judge Shelley Chapman commented after the agreement to pay
