Air Astana, the flag carrier of Kazakhstan, achieved an improved financial performance during the first half of 2019. Whilst revenue was marginally down, the Company reported an operating profit of US$6.8 million, with EBITDAR up 49% at US$50.0 million, despite a challenging global economic backdrop. The Company continued to demonstrate its strong cost control, improving
Transat A.T. has repeated its recommendation that shareholders should support a takeover offer for the company by Air Canada, following Pierre Karl Peladeau’s hint that he may make an offer. Peladeau is a Canadian businessman and former politician. The travel company stated that it has never received an offer from Peladeau nor from any of
Contrail Aviation Support, a commercial aircraft trading, leasing and parts solutions provider worldwide, was recognized as the primary driver of its parent company’s commercial aircraft, engines and parts business segment revenue of US$94 million in fiscal year 2019. According to its recent 10K filing , Air T Commercial Aircraft, Engines and Parts Segment, contributed US$94
The loss-making carrier Norwegian Air has agreed to sell its 17.5% stake in Norwegian Finans Holding (NOFI) for 2.2 billion kroner, a move which saw its share price jump 5.8%. The stake is being sold to Cidron Xingu Limited, which is indirectly controlled by Nordic Capital Fund IX and Sampo, a leading Finnish financial services
thyssenkrupp Materials Services, the distribution and service provider of the thyssenkrupp Group, is investing around €70 million in the modernization and expansion of its European warehousing and logistics network. A state-of-the-art logistics center and new warehouses are to be built in Germany, Poland and Hungary. The investments are an important part of thyssenkrupp Materials Services’
BOC Aviation has released its unaudited results for the six months ended June 30, 2019. The company has achieved a major milestone in June 2019 as its cumulative net profit after tax (NPAT) exceeded US$4 billion since inception. BOC Aviation reported NPAT of US$321 million in the first half of 2019, an increase of 8%
Landing gear manufacturer Héroux-Devtek, has reported strong financial results for the first quarter ended June 30, 2019. Consolidated sales grew 67.2% to CA$143.4 million, up from CA$85.8 million in the same period last year. CA$44.6 million of this increase was driven by the CESA and Beaver acquisitions while the growth of Héroux-Devtek legacy sales contributed
Embraer has delivered 26 commercial and 25 executive (19 light and 6 large) jets during 2Q19, compared to 28 commercial jets and 20 executive (15 light and 5 large) jets in 2Q18; The Company’s firm order backlog at the end of 2Q19 was US$ 16.9 billion, up from the US$ 16.0 billion reported at the
Singapore Technologies Engineering (ST Engineering) has reported that it registered higher revenue and profits for its second quarter ended 30 June 2019 (2Q2019) compared to the same period a year ago. Quarterly revenue grew 8% y-o-y to SG$1.78 billion from SG$1.65 billion, and Profit before tax (PBT) rose 13% to SG$169.7 million from SG$150.4 million.
European tourism group TUI has reported a 46% decline in underlying quarterly earnings which it predominantly puts down to the grounding of Boeing’s 737 MAX jet. 10% of the group’s fleet of planes (15 in number) are 737 MAXs, while a further eight of these planes are currently on order, but until the grounding order
