Spirit AeroSystems reported a US$577 million fourth-quarter operating loss on Friday, February 28, compared with US$215 million in operating income a year earlier, which had been bolstered by a funding agreement with key customer Boeing. The major supplier to the U.S. planemaker reported steep losses for 2024, after warning in November that there was “substantial
Embraer posted consolidated revenue of US$2,311 million in Q4 2024, representing a 17% year-on-year increase. Total revenue for 2024 reached US$6,395 million, aligning with the upper end of the company’s guidance and marking a 21% increase compared to 2023. All business units performed well, with Defence & Security and Executive Aviation showing notable revenue growth
Heathrow Airport (Heathrow) celebrated a record year in 2024, welcoming 83.9 million passengers, marking a 6% annual increase. Cargo volumes also rose by 10%, boosting British exports worldwide. While further growth is expected in 2025, constrained capacity is likely to limit the scale of improvement. Despite record passenger numbers, Heathrow’s revenue declined by 4% to
Rolls-Royce has raised its mid-term targets, reflecting its confidence in future profit growth following a successful plan to enhance engine performance and reduce costs. The announcement led to a 15% surge in its shares on Thursday, February 27, surpassing market expectations, REUTERS reported. The upgrade highlights the significant progress Rolls-Royce has made over the past
Qatar Airways Group’s minority 25% investment in Virgin Australia has received Foreign Investment Review Board (FIRB) approval following the Federal Treasurer’s announcement on February 27. This follows the Australian Competition and Consumer Commission’s (ACCC) Draft Determination on February 18, indicating its intention to authorise the airlines’ integrated alliance, with final approval anticipated in March or
FTAI Aviation Ltd. (FTAI) has announced that its Strategic Capital Initiative (SCI) has secured a US$2.5 billion asset-level debt financing commitment. This funding is led by global investment firm ATLAS SP Partners, a structured products business primarily owned by Apollo funds, in collaboration with Deutsche Bank AG, New York Branch. The financing is expected to
Exchange Income Corporation (EIC), a diversified, acquisition-focused company operating in the aerospace and aviation and manufacturing sectors, has announced the signing of a binding purchase agreement to acquire Bradley Air Services Limited, operating as Canadian North. The acquisition is valued at CA$205 million, subject to adjustments. The purchase will be financed through the issuance of
JAS has successfully completed its acquisition of International Airfreight Associates B.V. (IAA), a provider of air, ocean and road freight services headquartered in the Netherlands. This milestone follows the signing of the share purchase agreement (SPA) announced in December 2024 and marks the official integration of IAA into the JAS network. “The acquisition of IAA
Lilium, the German electric aircraft manufacturer, has filed for bankruptcy for the second time, marking a significant setback in the burgeoning air taxi industry. This latest insolvency filing comes after a failed €200 million rescue deal, which was intended to revitalise the company’s operations. The promised funds from the European-American investor consortium never materialised, leading
Spirit Airlines has announced that its plan of reorganisation has been confirmed by the United States Bankruptcy Court for the Southern District of New York. With this approval, the airline expects to emerge from Chapter 11 in the coming weeks. “Today’s approval is a major milestone as we progress toward the successful conclusion of our
