No sooner had the U.K. government confirmed it was prepared to provide financial assistance to help keep struggling domestic carrier Flybe afloat than the backlash from competitive airlines began. There have also been a number of questions raised as to why the government is prepared to help Flybe when it refused to provide any help
Delta Air Lines’ (Delta) share value increased as much as 4.5% with the announcement that fourth-quarter earnings had exceeded analysts’ highest profit estimate, according to Bloomberg data. The carrier also posted a 2.4% uptick for revenue per available seat mile and beat all expectations for quarterly revenue. According to Delta CEO Ed Bastian: “2019 was
Despite having been taken over by a consortium of businesses less than a year ago, Flybe, which handles over half of all U.K. domestic flights outside of London, is fighting for its survival, with wide speculation that the low-cost domestic carrier is about to fold. When Virgin Atlantic Cyrus Capital and Stobart Group bought the
Aircraft and industrial parts maker Woodward and Hexcel Corp , a composites technology company, have announced a definitive agreement to combine in an all-stock merger of equals to create a premier integrated systems provider serving the aerospace and industrial sectors. The combined company will focus on technology-rich innovations to deliver smarter, cleaner, and safer customer
On Wednesday January 8, 2020,Turning Rock Partners, a private investment firm based in New York, U.S., announced the closing of a US$15 million preferred equity investment in Next Level Aviation, based in Sunrise, Florida. Turning Rock’s investment in Next Level Aviation closed in December 2019 with the potential for follow-on investments, as the company continues
Wesco Aircraft Holdings has reported that the expected acquisition of the company by an affiliate of Platinum Equity has been completed in a transaction valued at approximately US$1.9 billion. At closing, Wesco Aircraft was combined with Platinum Equity portfolio company Pattonair, a provider of supply chain management services for the aerospace and defense industries based
Magnetic MRO along with Crestline Investments, a U.S. institutional alternative investment management firm, have announced the launch of a joint venture company that will focus on long- and short-term aviation asset management and leasing – Magnetic Leasing. The recently established JV specializes in mid-life Airbus A320 Family and Boeing 737 CL/NG aircraft, as well as
As a result of a US$540 million shave off its pretax income since the grounding of the Boeing 737 Max in March 2019, American Airlines (American) has reached an undisclosed settlement figure with Boeing Co. to cover the carrier’s losses as a consequence. The figure is not a complete settlement and does not include any
Though not strapped for cash with approximately US$20 billion currently available based on third-quarter figures, Boeing is considering increasing its debt in light of ongoing 737 MAX problems, according to the Wall Street Journal. With failure to see the stricken 737 MAX back in service after two fatal crashes, Boeing has decided to halt production
Jet Parts Engineering (JPE), a leading PMA parts supplier, has reported the acquisition of Aero Parts Mart (APM). APM is a Fort Worth, TX-based engineering design company that provides cost-savings solutions through the design, production, and distribution of products to the regional segment of the aviation industry. “It was critical that I find the right
