Bombardier’s Aviation-segment has reported revenues of US$1.2 billion during the second-quarter, reflecting a lower level of production activity and deliveries as the corporation suspended business aircraft operations in Canada and key aerostructures operations in Mexico and Belfast due to the COVID-19 pandemic. Starting in the last weeks of April and through the month of May,
The world’s third-largest planemaker, Brazil’s Embraer, has announced that in the second quarter of 2020, revenue from its commercial aircraft sector has fallen 82% to US$109 million compared to last year. The company also reported a loss of US$315 million for the last quarter. The drop in revenue has been blamed on the worldwide fallout
The collapse in demand for air travel due to the CORONA pandemic led to an 80% drop in revenue for the Lufthansa Group in the second quarter to €1.9 billion (previous year: €9.6 billion). Most of the revenue (€1.5 billion) was generated by Lufthansa Cargo and Lufthansa Technik. The Lufthansa Group Adjusted EBIT in the
Willis Lease Finance has reported second quarter total revenues of US$75.0 million and pre-tax profit of US$9.7 million. The company reported lower revenue in the second quarter of 2020 than the prior year period due primarily to the impact the COVID-19 pandemic has had on the aviation industry, generally, leading to reduced revenues in the
Dubai Aerospace Enterprise (DAE) has reported its financial results for the six months ended June 30, 2020. DAE reported total revenue of US$672.6 million compared to US$735.2 million in the first-half of 2019 and net income of US$121.7 million compared to US$197.1 million in the previous year. The reported net income in the first-half was
A month after announcing that it had secured financing to ensure the airline’s continuation for the next 18 months, Britain’s Virgin Atlantic has filed for Chapter 15 bankruptcy protection in the U.S. The move is a strategic one employed by non-U.S. companies to restrict creditors from tying up assets or filing a lawsuit in the
The airport operator Fraport posted a sharp drop in revenue during the first half of 2020, with a clearly negative Group result. The operating performance, which already slowed down in the first quarter of the year, weakened further during the second quarter, in line with expectations. Frankfurt Airport’s passenger traffic plummeted by 94.4% year-on-year in
In the first six months of 2020, MTU Aero Engines AG generated revenue of €2,048.8 million compared to €2,243.0 million in the first half of 2019. Operating profit was €224.2 million, compared to €365.2 million in the prior-year period. The EBIT margin was 10.9% in the first six months of 2020 (1-6/2019: 16.3%). Net income declined from €261.0 million to €161.3 million. “The
Reporting cash outflow of US$2.1 billion from its industrial operations – well below an anticipated US$3.5 billion – US$4.5 billion, shares in the Boston, U.S.-based conglomerate fell 5%. The aviation unit of the company, which is usually the most profitable, was hardest hit in terms of sales and orders. This unit, which makes engines for
IAG Cargo has reported its second-quarter 2020 results (Q2 2020), reporting commercial revenues of €369 million over the period from April 1 to June 30, 2020, an increase of 33.1% on the same period in 2019 at constant currency. Overall yields for the quarter were up 224.7% to the same time last year at constant currency, reflecting the extra
