Air Serbia, the national airline of Serbia, has announced significantly improved performance in the first three months of the year with a 66% increase in total passenger numbers to 364,924, compared with the same period in 2013. The airline’s passenger carrying capacity, which is measured by available seat kilometres (ASKs), has jumped 93% resulting in
Odyssey Airlines, the new UK-based business-only carrier, announced the launch of a capital raise on US platform Crowdfunder. It will run concurrently alongside a similar raise on the UK-based platform Crowdcube, which launched earlier this month, with the combined initiative targeting £5m (US$8.4m) to support the company’s next phase of development. The company has also
Triumph Group has entered into a definitive agreement to acquire the hydraulic actuation business of GE Aviation. GE’s hydraulic actuation business consists of three facilities located in Yakima, Washington, Cheltenham, England and the Isle of Man and will be included in the Aerospace Systems Group. The business is expected to add approximately $180m in annual
Boeing announced that it is acquiring AerData Group , which provides integrated software solutions for lease management, engine fleet planning and records management. Based in the Netherlands, AerData also provides technical services for aircraft and engine operators, lessors, and maintenance, repair and overhaul companies. AerData has approximately 120 employees located in the Netherlands, United Kingdom
Singapore Technologies Engineering (ST Engineering) reported that Vision Technologies Aerospace has acquired 100% equity interest in Aviation Academy of America, for a purchase consideration of US$811,238 (approximately $1.02m). Following the acquisition, Aviation Academy of America, will become a wholly owned subsidiary of VT Aerospace. The acquisition is part of the Group’s aerospace sector’s strategic initiative
Boeing signed an agreement to acquire ETS Aviation, a provider of fuel-efficiency management and analytics software. ETS Aviation solutions lead the market, providing more than 120 airlines and corporate flight departments the tools necessary to accurately monitor fuel consumption, identify fuel savings opportunities, and track and report carbon emissions. ETS Aviation’s fuel efficiency solutions support
Warburg Pincus, a leading global private equity firm, has entered into a definitive agreement whereby one of its affiliates will acquire Wencor Group, a leading designer, repair provider and distributor of aftermarket aerospace components, from Odyssey Investment Partners. Terms of the transaction were not disclosed.
El Al’s revenues for the first quarter of 2014 aggregated $415.4m, compared to $431.0m during the equivalent quarter in the previous year. The loss for the first quarter aggregated $39.7m, compared to a loss of $32.5m during the equivalent quarter in the previous year. The company’s cash flows from operating activities for the quarter aggregated
HEICO CORPORATION reported that net income increased 20% to $28.4m in the second quarter of fiscal 2014, up from $23.7 million in the second quarter of fiscal 2013. In the first six months of fiscal 2014, net income increased 28% to $55.8m, up from $43.7m in the first six months of fiscal 2013. Operating income
Avianca Holdings reported first quarter 2014 adjusted net income of $31.6m, excluding special items. Adjusted net income margin came in at 2.9%. Operating revenues amounted to $1.099bn, down 1.7% over 1Q 2013, mainly due to a 2.2% decrease in passenger revenues, driven by a yield decline of 4.4%, which was partially offset by a 3.3%
