Holiday airline Condor has found a buyer. Polish Aviation Group, who owns a 100% of LOT Airlines, will take over Condor. In a press release the Group said that the combination of LOT and Condor will create one of the leading European aviation groups carrying about 20 million passengers per year. Condor will continue to
American Airlines Group has reported its fourth-quarter and full-year 2019 financial results. The Group reported pre-tax earnings of US$571 million in the fourth quarter of 2019, and pre-tax earnings excluding net special items of US$679 million, a US$90 million increase from the fourth quarter of 2018. Continued strength in passenger demand and a record passenger
Southwest Airlines’ fourth-quarter 2019 total operating revenues increased 0.4%, year-over-year, to US$5.7 billion, on 0.9% fewer available seat miles (ASMs, or capacity), year-over-year, due to the MAX groundings. Southwest has posted fourth-quarter 2019 net income of US$514 million compared with fourth-quarter 2018 net income of US$654 million. Fourth-quarter 2019 net income was reduced by a
As Airbus shares hit a record high on Wednesday, January 22, the planemaker’s North American rival, Boeing, has just announced that certification of the beleaguered 737 MAX may not be obtained until June. As a result, while Airbus shares were heading in one direction, those of Boeing and also of many of its customers and
United Airlines (UAL) has reached its 2020 goal — first announced in January 2018 — to achieve its adjusted diluted earnings per share (EPS) target of US$11 to US$13 a full year ahead of schedule. UAl has reported fourth-quarter net income of US$641 million, up 50% versus the fourth quarter of 2018, pre-tax earnings of
BAE Systems plc (BAE), the British multinational defense, security and aerospace company, has announced that it is to make two major purchases in the U.S. – the military Global Positioning System (GPS) business belonging to Collins Aerospace, and the Airborne Tactical Radios (ATR) business belonging to Raytheon. The opportunity to acquire two sector-appropriate businesses has
StandardAero has acquired TRS Global Services subsidiary, TRS Ireland, a highly specialized provider of component repair and manufacturing processes for a large range of industrial, aeroderivative and aircraft gas turbines. The acquisition will continue to expand StandardAero’s Components, Helicopters & Accessories (CH&A) division and its worldwide portfolio of MRO and component repair services. TRS
Dubai Aerospace Enterprise (DAE) has signed a US$300 million four-year unsecured term loan with China Construction Bank (DIFC Branch) and China Construction Bank (Asia) Corporation Limited. The principal amount of the loan can be increased to US$500 million. The loan will support the future financing needs of the business.
With the announcement on Thursday by Bombardier Inc that problematic rail contracts in Europe will mean 2019 profits will be lower than expected, and because it may also have to write down the value of the joint venture with Airbus for the former C Series commercial narrow-body jet, the company’s share price fell by up
Alcoa has posted a net loss of US$303 million in the fourth quarter of 2019 compared with a net loss of US$221 million in the third quarter of 2019. In the fourth quarter of 2019, the Company took several actions in alignment with its strategic priorities, including taking the first steps in a multi-year portfolio
