International Consolidated Airlines Group (IAG) and Globalia have signed a definitive transaction agreement under which IAG’s wholly owned subsidiary, IB OPCO Holding S.L. (Iberia), has agreed to acquire the entire issued share capital of Air Europa Líneas Aéreas, S.A.U (Air Europa) for €1 billion to be satisfied in cash at Completion and subject to a
:TrueNoord has closed a new revolving warehouse finance facility of US$360 million with an uncommitted US$150 million accordion feature. This will be used by the specialist regional aircraft lessor to finance business development and expand its portfolio of 50-150 seat aircraft which includes regional jets and turboprops from Embraer, ATR and deHavilland Canada. The new facility
As part of its continued move away from commercial aviation, Bombardier has announced that it is to sell its aerostructures business to Spirit AeroSystems (Spirit) for US$1 billion in cash and debt. The deal is expected to finalize in the first half of 2020. Spirit will acquire Bombardier’s Belfast plant, another in Morocco and a
In the third quarter 2019, the Air France-KLM Group posted an operating result of €900 million, down by €165 million compared to last year, impacted by trading environment and fuel bill increase. Net income amounted to €366 million in the third quarter 2019, a decrease of €420 million compared to last year, including non-operating cost
Billionaire Petter Stordalen, a Norwegian businessman, hotel and property developer has, together with private equity firms TDR Capital and Altor, purchased the Nordic arm of the now failed Thomas Cook travel agent and airline. The triumvirate has acquired the Ving Group, which includes such brand names as Globetrotter, Spies and Thomas Cook Airlines Scandinavia, which
Airbus has reported nine-months 2019 consolidated financial results and provided full-year guidance. Consolidated revenues increased to €46.2 billion (9m 2018: €40.4 billion), mainly driven by higher deliveries, a favorable mix and foreign exchange rate development. A total of 571 commercial aircraft were delivered (9m 2018: 503 aircraft), comprising 33 A220s, 422 A320 Family aircraft, 34
ANA Holding (ANA HD) has reported operating revenue of 1,055.9 billion yen, up 1.7% when compared to the same period in 2018, while operating income was 78.8 billion yen, down 25% due to an increase in operating expenses. Ordinary income was 81.5 billion yen, down 20.8%. Net income attributable to owners of the parent decreased
Monday, October 28, saw Sir Richard Branson’s Virgin Galactic Holdings Inc. (Virgin Galactic) become the first space-tourism enterprise to go public as it traded on the New York Stock Exchange (NYSE). The listing was the result of a merger with a currently trading shell investment company, Social Capital Hedosophia, and has now secured critical funding
Alaska Air Group has reported net income for the third quarter of 2019 under Generally Accepted Accounting Principles (GAAP) of US$322 million compared to net income of US$217 millionin the third quarter of 2018. Alaska has reported net income for the third quarter of 2019, excluding merger-related costs and mark-to-market fuel hedge accounting adjustments, of
In the first nine months of 2019, MTU Aero Engines generated revenues of € 3,403.7 million, up 3 % on the previous year (1-9/2018 €3,318.7 million). The group’s operating profit increased by 10 % from €508.9 million to € 557.7 million. The EBIT margin rose from 15.3 % to 16.4 %. Net income increased by
