MTU Aero Engines AG once again set new records in the financial year 2018. Revenues increased by 17% from €3,897.4 million in 2017 to a new high of €4,567.1 million. The group’s operating profit reached a new record level of €671.4 million, similarly beating the previous year’s result by 17 % (2017: €572.5 million). Net
Jet Aviation has acquired full ownership of the San Juan FBO at Luis Muñoz Marin International Airport in Puerto Rico, a provider of premium business aviation services at one of the most convenient U.S. points of entry for international flights. Jet Aviation has been operating the San Juan FBO under a management agreement with the
Finnair has reported that full year 2018 revenue increased by 10.4% to €2,834.6 million. Available seat kilometres grew by 14.8% and the passenger load factor was 81.8%, down 1.5 points compared to full year 2017. Comparable operating result was €169.4 million compared to €170.4 million in 2017. Operating result was €207.5 million compared to €224.8
Air Canada has reported full year 2018 EBITDAR of CA$2.851 billion compared to full year 2017 record EBITDAR of CA$2.928 billion. Air Canada reported an EBITDAR margin of 15.8%, in line with its projections. Air Canada reported 2018 operating income of CA$1.174 billion compared to 2017 operating income of CA$1.371 billion. Adjusted pre-tax income amounted
As of February 14, Magnetic MRO has started its bond trading on the Nasdaq Baltic First North bond market. Magnetic MRO carried through a private placement of unsecured bonds and raised €8 million (US$9.1million) to support the company’s growth plans, including financing a strategic acquisition. The nominal value of one bond is 100 euros (US$114),
East Midlands, U.K.- based low-cost carrier flybmi has filed for administration, citing ‘Brexit uncertainty’ as a principal reason for the company’s demise, along with spiking “fuel and carbon costs.” The airline ceased trading on Saturday, cancelling all flights without warning and leaving thousands of holidaymakers stranded. According to a flybmi spokesperson: “It is with a
In 2018, Bombardier Commercial Aircraft significantly reshaped its portfolio, focusing on the CRJ Series program and its aftermarket business, while also participating in the growth of the A220 through its partnership with Airbus. The C Series Partnership (CSALP) with Airbus closed on July 1, 2018, bringing together two complementary product lines and the benefit of Airbus’
Avolon, the international aircraft leasing company, has announced results for the 2018 full year. Avolon’s lease revenue for the year was US$2.6 billion; an increase of 10% year on year. The company generated US$2.2 billion of net cash of operating activities in 2018 and delivered US$717 million in profit for the year, an increase of
Air Astana has declared net profit for 2018 of US$5.3 million, driven by higher revenues and higher jet fuel costs. Total airline revenue rose by 10% to US$840.8 million. Capacity as measured in ASKs rose by 5% and total passenger numbers by 3%, to 4.3 million. However, transit business via the airline’s Astana and Almaty
Swissport has agreed to increase its shareholding in Heathrow Cargo Handling (HCH) to 100% from 50%, which it held in a joint venture. Swissport will now fully own this cargo handling company at one of Europe’s busiest air cargo hubs. The HCH joint venture has been providing first class cargo handling services to the world’s leading
