In conjunction with its 2019 financial result publication on February 7, 2020, Finnair announced that the direct financial impact of coronavirus during Q1 2020 would be relatively limited, even if the mainland China cancellations continued until the end of Q1 2020. At that time, Finnair forecasts that its capacity would increase by approximately 4% in
American Airlines will invest US$550 million at its base maintenance facility in Tulsa (Tech Ops – Tulsa). It is American’s largest base maintenance facility and is an integral part of operating the carrier’s fleet of nearly 1,000 mainline aircraft safely and reliably. Tech Ops – Tulsa is home to more than 5,500 team members —
In order to counteract the economic impact of the coronavirus at an early stage, Lufthansa is implementing several measures to lower costs: among other things, all new hires planned for the airline will be reassessed, suspended or deferred to a later date. Lufthansa is also offering employees unpaid leave effective immediately. An expansion of part-time
Seabury Capital Group (Seabury Capital) has announced the formation of Seabury Aircraft Capital (SAC) through a combination of its existing advisory practices and the acquisition of an investment banking firm Structured Finance International (SFI) whose professionals have arranged over the past 20 years aircraft financing with an aggregated acquisition costs exceeding US$18 billion (in 2020
Volocopter and DB Schenker have reported an investment by the global logistics service provider into the pioneer of Urban Air Mobility (UAM) as Volocopter extends its Series C funding to now total €87 million. Besides DB Schenker, Mitsui Sumitomo Insurance Group, TransLink Capital who join the round as new investors, existing investor Lukasz Gadowski and
American Airlines Group has priced US$500.0 million aggregate principal amount of unsecured senior notes due 2025 (the notes). The notes will have an interest rate of 3.75% per annum and are being issued at a price equal to 100% of their face value. The notes will be guaranteed on a senior unsecured basis by the
AJ Walter Aviation, part of the AJW Group (AJW), has closed a US$70m senior secured credit facility with Wells Fargo Capital Finance (UK) – part of Wells Fargo & Company – as lead bank and Shawbrook Bank (Shawbrook) as participant. Proceeds of the five-year facility will be used to support spare parts acquisitions to meet
In the full-year 2019, the Air France-KLM Group has posted an operating result of €1,141 million, down by 18.8% compared to last year, impacted by a challenging trading environment and a higher fuel bill. Net income amounted to €290 million in 2019, a decrease of €130 million compared to last year. The fuel bill, including
The Qantas Group continued to deliver strong earnings in a mixed market in the first half of full-year 2020 (FY20), with an underlying profit before tax of AU$771 million and a statutory profit before tax of AU$648 million. The underlying result was AU$4 million less than the same period last year – despite AU$51 million
MTU Aero Engines AG had another record year: revenue in 2019 reached a new high of €4,628.4 million (2018: €4,567.1 million). Operating profit came in at €756.9 million, surpassing the previous high of €671.4 million in 2018 by 13%. The EBIT margin rose from 14.7% to 16.4%. Net income increased by 12%, from €479.1 million
