The six-day pilots’ strike which ended May 2, is estimated to have cost Scandinavian Airlines 650 million kroner (US$68 million) and contributed heavily to the carrier’s 1.2 billion kroner (US$125 million) loss for the second quarter of its financial year. The strike, which began April 26, was the consequence of a breakdown in negotiations between
SpiceJet reported a profit of INR 56.3 crore for the traditionally weak quarter ended March 31st, 2019 as against INR 46.2 crore in the same quarter last year. In comparison to Q3 FY19, the airline managed to generate higher profits despite challenges on account of seasonality and more importantly grounding of its 13 MAX aircraft.
Air Transport Services Group has obtained lender commitments for a one-year extension through May 2024 of its secured credit facility, and an expansion of the facility’s revolver portion. The amendment to ATSG’s agreement with a consortium of banks, led by SunTrust, increases the revolving credit portion of the facility by US$100 million, to US$645 million.
Safran intents to implement a €2.3 billion ordinary share buyback program to run over the two years following completion of the tender offer for Zodiac Aerospace shares. To date, Safran already contributed 14.5 million shares to its program for a total of €1.6 billion euros. On May 27, Safran has entered into an agreement with
Fraport has increased its stake in Lima Airport Partners S.R.L. (LAP) – operator consortium of Jorge Chavez International Airport Lima – to 80%. Fraport took over 10% from AC Capitales’ Infrastructure Fund, which held the stake for over 10 years. The acquisition raises Fraport’s majority ownership in LAP from 70.01% to 80.01%. The share deal
With major shareholder Germán Efromovich’s holding company BRW Aviation defaulting on a US$456 million loan provided by United Airlines, the American carrier has launched a management shake-up that will see the removal of Efromovich from cash-strapped airline Avianca Holdings (Avianca). United is now proposing a three-way joint business deal with Panama’s Copa and Avianca. As
Héroux-Devtek, a leading international manufacturer of aerospace products, has reported strong results for the fourth quarter and fiscal year ended March 31, 2019. For fiscal 2019, consolidated sales reached CA$483.9 million, up 25.2% from CA$386.6 million in fiscal 2018. Commercial sales were at CA$236.3 million, up from CA$195.1 million a year ago, while defence sales
Ryanair has reported its lowest annual profit for four years, warning that earnings could fall further during what CEO Michael O’Leary describes as “attritional fare wars”. Shares closed at €10.30, a drop of 4.6%, having rallied slightly from a 6% drop after reassurance from O’Leary that a couple of years of lower fares and profitability
FL Technics, a global provider of integrated aircraft maintenance, repair and overhaul services, earned €119 million in revenue in 2018, which is approx. 14% more than in 2017 (€103 million) and reached net profit of €10.8 million (€5,7 million in 2017). FL Technics has expanded their clients’ portfolio by signing Lufthansa Group for a €11
Air Canada has entered into an exclusive agreement with Transat A.T. (Transat) regarding the proposed purchase by Air Canada of all issued and outstanding shares of Transat and its combination with Air Canada. The proposed transaction, valued at approximately CA$520 million or CA$13.00 per share of Transat (on a fully-diluted basis), will create a Montreal-based
