Delta Air Lines has released financial results for the September quarter 2017. Adjusted pre-tax income for the September 2017 quarter was US$1.7bn, a US$182m decrease from the September 2016 quarter. Pre-tax income includes a US$120m reduction from the operational disruption following Hurricane Irma that hit the Caribbean, Florida, Georgia and, specifically, Delta’s hub in Atlanta.
Finnair acquires 60% of Nordic Regional Airlines AB (Norra) from Staffpoint Holding Oy (StaffPoint) and Kilco Oy (Kilco). Finnair currently owns 40% of the company, and following the transaction Norra will transfer full ownership to Finnair on an interim basis. The transaction has no impact on Norra’s operations or personnel. Norra operates Finnair’s domestic and
Air France-KLM has completed the capital increases reserved to China Eastern Airlines and Delta Air Lines. The 75,054,820 related new shares have been admitted to the regulated market of Euronext Paris and Amsterdam. These capital increases, announced on July 27, 2017, have been approved by the General meeting of shareholders on September 4, 2017. Each
According to a memo seen by Reuters, Airbus Defence and Space has frozen capital expenditure and is stressing upon its 34,000-strong workforce to take “drastic measures” to make cash savings. This has come as a result of the European aerospace giant facing the prospect of missing its 2017 cash targets by hundreds of millions of
Boeing plans to acquire Aurora Flight Sciences Corporation, a world-class innovator, developer and manufacturer of advanced aerospace platforms, under an agreement signed by the companies. Aurora specializes in autonomous systems technologies to enable advanced robotic aircraft for future aerospace applications and vehicles. Leveraging autonomous systems that include perception, machine learning and advanced flight control systems,
Qatar Airways has further strengthened its commitment to Italy, with the acquisition of a 49% of AQA Holding, the new parent company of Meridiana fly (Meridiana), while the previous sole shareholder Alisarda has kept 51%. Qatar Airways currently flies from Doha to Rome, Venice, Pisa and Milan a total of 42 times per week and
Along with several other airlines, Southwest Airlines (Southwest) has had to readjust its third-quarter revenue projection. In Southwest’s case, the hurricanes which devastated parts of Florida and Texas, while leaving the whole of Puerto Rico without power, together with the recent earthquake which has destroyed swathes of Mexico, has forced the American carrier to cut
Argos Soditic, the European lower mid-market private-equity firm, has reported the acquisition of a majority stake in Revima Group, alongside its managers Olivier Legrand and Christian Grzanka, following a period of exclusive negotiations. Revima Group is a leading independent aerospace Maintenance, Repair and Overhaul (MRO) service provider, primarily focused on Auxiliary Power Unit (APU) &
The Supervisory Board of Deutsche Lufthansa AG approved the rapid expansion of the Eurowings Group at its meeting on September 26. For this purpose, an investment framework of around EUR 1 billion was approved for the purchase and leasing of aircraft. The funds will be used towards obtaining up to 61 aircraft, including 41 Airbus
BGF has agreed to successfully exit its minority stake in aircraft seat manufacturer, Acro Aircraft Seating. The company will, subject to the satisfaction of certain conditions including regulatory approval, be acquired by Zhejiang Science and Technology Investment Company (ZTC) for £55m. The acquisition will accelerate Acro’s access to the Chinese market. ZTC is the parent
