As SAS and other airlines have sharply reduced its services in and out of Copenhagen Airport (CPH) on account of the current health crisis, CPH is preparing to cut back operations substantially during the upcoming period. Over the past few days, airport management has been working on a plan to cut down operating costs and
In a surprise move at a time when all travel to and from Italy has been banned, the Italian government has announced it is looking to re-nationalize Alitalia, the airline which filed for bankruptcy in 2017 and which, while still operating, has been losing an estimated €2 million per month. Since Alitalia went into administration,
Air Canada, along with the rest of the global airline industry, is facing a severe drop in traffic and a corresponding decline in revenue as a result of the coronavirus (COVID-19) outbreak and travel restrictions imposed in many countries around the world, including Canada and the United States. Although the company expects this disruption to
Leonardo has posted 2019 full year results. Revenues amounted to €13,784 million, an increase of 12.6% compared to 2018. EBITA amounted to €1,251 million, showing significant growth compared to 2018 (€1,120 m), thus confirming a sound profitability (ROS of 9.1%, in line with the previous year). EBIT amounted to €1,153 million, an improvement of 61.3%
The Executive Board of Deutsche Lufthansa AG has decided to propose to the Annual General Meeting that the dividend payment for the financial year 2019 be suspended. Lufthansa Group closed the year 2019 with an adjusted EBIT of €2,026 million (US$2,269 million). The adjusted EBIT margin was 5.6%, within the range of the 5.5% to
United Airlines Holdings Inc (United Airlines) has confirmed that it has entered into a US$2 billion term loan facility to be repaid on its maturity date of March 8, 2021. The carrier has indicated that the funds are to be used to pay certain transaction fees and expenses, and for general corporate purposes. Currently, airlines
Willis Lease Finance has reported annual total revenues of US$409.2 million and pre-tax profit of US$88.9 million for the year ended December 31, 2019. The Company’s 2019 pre-tax results were driven by continued leasing revenue growth as well as gains associated with the active management of its portfolio. Aggregate lease rent and maintenance reserve revenues
Flughafen Zürich AG has reported an encouraging result in 2019. In the reporting period, Flughafen Zürich AG’s revenue increased by 5.0% to CHF 1.2 billion. The airport operator posted a profit of CHF 309.1 million. Additional provisions (CHF 45.8 million after taxes) for sound insulation measures in the previous year depressed the result for 2018.
BOC Aviation has reported profit before tax of US$775 million and net profit after tax of US$702 million for the full-year ended December 31, 2019, both increasing by 13% year-on-year. The company delivered a return on equity of 16.0%, exceeding its average return on equity of 15.1% since 2007. The company achieved a strong result
Dubai Aerospace Enterprise (DAE) announced that its Board of Directors and Shareholders had authorized an additional US$300 million for bond repurchases to be conducted through open market transactions. To date, DAE has repurchased approximately US$555 million of principal amount of its publicly traded bonds under the previous authorizations of US$600 million. DAE Chief Executive Officer
