Astro Aerospace, a developer of eVTOL aerial vehicles and drones, announced the acquisition agreement with Horizon Aircraft, a privately held developer of advanced eVTOLs, has closed. The acquisition was completed for common shares of Astro stock, the material terms of which are disclosed in the company’s related 8-K filing. Patricia Trompeter, currently a member of
Long-haul Malaysian carrier Air Asia X is all set for restructuring having secured the approval of the shareholders of its parent company Air Asia Group. At an extraordinary general meeting, the survival of the Group’s affiliate was secured through the approval of all resolutions, including a rights issue and share subscription for new investors in
IBC Advanced Alloys (IBC) has announced that it intends to offer, on a non-brokered private placement basis, up to 5,000,000 units of the company at a price of CA$0.20 per unit for gross proceeds to the company of up to CA$1.0 million. There is no minimum offering amount. Each unit will consist of one common
Seabury Securities LLC (Seabury), the investment banking arm of Seabury Capital Group LLC, has announced that acting as Lead Financial Restructuring Adviser, it has successfully helped Norwegian Air Shuttle ASA (Norwegian) complete its multi-jurisdictional financial restructuring while also raising SEK6 billion in capital. This latest news comes as a culmination of the involvement of courts
Garmin® International, a unit of Garmin, has announced the acquisition of AeroData, a privately held provider of aircraft performance software and services tailored to commercial and business aviation. AeroData’s portfolio includes products such as runway analysis, takeoff, and en route performance, weight and balance, automated passenger and cargo load planning, global airport obstacle database, around-the-clock NOTAM
AeroCentury, an independent aircraft leasing company, has reported a first-quarter 2021 net loss of US$5.4 million, compared to a net loss of US$10.2 million for the first quarter of 2020. Revenues and other income decreased by 47% to US$2.5 million in the first quarter of 2021 from US$4.8 million in the first quarter of 2020.
Asset manager Attestor has acquired 51% of Condor shares and set the course for a secure future of the airline. Attestor will invest €200 million of equity capital and will provide a further €250 million to modernize Condor’s long-haul fleet. This will ensure the rapid ramp-up of flight operations after the Corona pandemic and will
The Covid-19 pandemic, which began to spread globally in February 2020, resulted in unprecedented restrictions on international air travel at the start of the financial year. Successive waves of Covid-19 infections and more virulent strains have subsequently emerged over the course of the 12 months. As a result, the Singapore Airlines (SIA) Group’s passenger traffic
Low-cost Irish carrier Ryanair has posted a record loss of €815 for the fiscal year 2020-2021 but remains buoyant over the carrier’s future as signs of a recovery in demand are already being seen. Last year it was forced to cancel over 80% of its flights owing to the COVID-19 pandemic, flying only 27.5 million
IBC Advanced Alloys has reported income of US$139,000 in the January-March quarter, reversing a loss posted in the preceding quarter, and as compared to income of US$171,000 in the prior-year period. The Copper Alloys division posted income of US$205,000 in the quarter, a 109% jump over the prior-year period, and the Engineered Materials (EM) division’s income
