CAE has announced plans to increase its stake in SIMCOM Aviation Training by acquiring a majority of shares from Volo Sicuro for CA$230 million (US$165.00 million). This purchase will be funded through CAE’s credit facility and existing cash, with the transaction expected to close shortly. As part of the deal, Flexjet, a Volo Sicuro affiliate,
Siemens has announced its acquisition of Altair Engineering, a leading industrial simulation and analysis software provider, in a deal valued at US$10 billion, paying US$113 per share – a 19% premium over Altair’s last trading price. This strategic acquisition aims to deepen Siemens’ capabilities in digitalisation and sustainable innovation by integrating Altair’s expertise in high-performance
Air Canada posted robust results for the third quarter, reporting CA$6.1 billion in operating revenue and a CA$1 billion operating income, despite a 4% drop in revenue from lower passenger numbers. Adjusted EBITDA reached CA$1.5 billion, with adjusted earnings per share at CA$2.57, outperforming market expectations. The airline also saw an 8% rise in on-time
Dubai Aerospace Enterprise (DAE) has released its financial results for the nine months ended September 30, 2024, revealing a 57% increase in profit before tax, which rose to 13% when excluding exceptional items. The company experienced a revenue growth of 3%, resulting in pre-tax profitability margins of 23% and a pre-tax return on equity of
Safran Aircraft Engines has unveiled an ambitious investment plan, committing over €1 billion to expand its global MRO network to accommodate the growing demand for LEAP engine services worldwide. Developed by CFM International—a joint venture between Safran and GE Aerospace—the LEAP engine, which entered service in 2016, powers nearly 4,000 narrow-body aircraft, including the Airbus
Lufthansa Technik (LHT) is committing over €1 billion in investments across the Americas, Asia-Pacific (APAC) and Europe, Middle East, and Africa (EMEA) regions over the coming years. “Our plans substantiate our aim to expand our leading market position,” stated Chief Financial Officer Dr William Willms. This commitment follows Lufthansa Technik’s Ambition 2030 strategy, which prioritises
Brazilian airline Azul Linhas Aereas has finalised negotiations with its aircraft lessors and creditors, securing up to US$500 million in new financing from bondholders. As part of the agreement, Azul will receive US$150 million immediately, another US$250 million by the year’s end and a further US$100 million soon after. Additionally, cost reductions negotiated with certain
The Lufthansa Group achieved record third-quarter (Q3) revenue of €10.7 billion, a 5% increase from the previous year’s €10.3 billion, primarily due to an increase in flight numbers and a boost in Lufthansa Technik’s performance. This strong revenue result marked the most successful quarter in the Group’s history. However, profitability faced pressure as Adjusted EBIT
The Norwegian Group has reported a strong third quarter in 2024, achieving an operating profit (EBIT) of NOK 2,128 million, reflecting an 18.4% operating margin. The group saw increased capacity and improved load factors, supported by Widerøe’s milestone of carrying over one million passengers in a single quarter. The quarter’s financial highlights include a pre-tax
Snow Peak Capital, LLC, a private equity firm specialising in middle-market investments, has acquired TurbineAero, Inc., the independent provider of MRO services for aircraft auxiliary power units (APUs) and other aero engine components. The acquisition was made from The Gores Group, a global investment firm, though specific financial details were not disclosed. TurbineAero, founded in
