Spirit Airlines has entered into a series of liability management transactions given the favorable market dynamics. The company received US$371.3 million from an issuance of 10,594,073 shares of its common stock to holders of its 4.75% Convertible Senior Notes due 2025 (the 2025 Convertible Notes). Spirit used US$368.7 million of the net proceeds from the
SIA Engineering Group reported revenue of SG$443.0 million for the financial year ended March 31, 2021 which was SG$551.1 million (-55.4%) lower than in the previous financial year as low flight activities and widespread grounding of aircraft resulted in a sharp and severe reduction in business volume. Group expenditure was also lower year-on-year, falling from
MTU Aero Engines has published its figures for the first quarter of 2021: Revenue was €989 million, compared with €1,273 million in the first quarter of 2020. The operating profit decreased from €182 million to €86 million. The adjusted EBIT margin was 8.7% (1-3/2020: 14.3%). Adjusted net income was €58 million, compared with €128 million
With global travel restrictions still being hampered by the COVIDF-19 pandemic, this has had a substantial effect on the business performance of Lufthansa Group in the first quarter of 2021. Carsten Spohr, CEO of Deutsche Lufthansa AG, commented that: “The longer the crisis lasts, the greater people’s desire to travel again becomes. We know that
Embraer has delivered nine commercial jets and 13 executive jets (ten light / three large) in the first quarter of 2021. The total company firm order backlog at the end of the first quarter was US$14.2 billion. Revenues reached US$807.3 million, representing year-over-year growth of 27.4% compared to the first quarter of 2020, with growth
The Boeing Company has reported first-quarter revenue of US$15.2 billion, primarily driven by lower 787 deliveries and commercial services volume, partially offset by higher 737 deliveries and higher KC-46A Tanker revenue. GAAP loss per share of (US$0.92) and core loss per share (non-GAAP) of (US$1.53) reflect year-over-year KC-46A Tanker improvement, higher 737 deliveries, and lower commercial
Airbus has released that gross commercial aircraft orders totaled 39 (Q1 2020: 356 aircraft) and included 38 single-aisle aircraft in the first quarter of 2021. After cancellations, net commercial aircraft orders were -61 (Q1 2020: 290 aircraft) with the order backlog comprising 6,998 aircraft as at March 31, 2021. Airbus Helicopters booked 40 net orders
On May 20, 2020, Finnair announced that it was targeting nearly €80 million in permanent cost base reductions by 2022, compared to 2019 levels. The company updated the same target in its announcement on August 25, 2020 by increasing it to €100 million and updated it again on October 28, 2020 to €140 million. Finnair
JetBlue Technology Ventures (JTV), the venture capital subsidiary of JetBlue Airways has announced its investment in Universal Hydrogen, the company fueling carbon-free flights, as part of its US$20.5 million Series A funding round. The financing allows Universal Hydrogen to accelerate the development of its hydrogen logistics network and regional aircraft conversion kits, and bolsters its
Leonardo has entered into a definitive agreement with Square Lux Holding II S.à r.l., a portfolio company controlled by funds advised by Kohlberg Kravis & Roberts & Co., to purchase a 25.1% stake in HENSOLDT AG (HENSOLD) for a cash consideration of approx. €606 million or €23 per share. HENSOLDT is a leading European player
