MTU Aero Engines AG has forecast continued growth and improved earnings for 2025, expecting revenues between €8.3 and €8.5 billion. Adjusted EBIT is projected to rise in the low-to-mid teens percentage range, with adjusted net income expected to grow in line with EBIT. Free cash flow is anticipated to remain in the low triple-digit million-euro
easyJet, the British low-cost airline, reported on Wednesday, November 27, a profit before tax of £602 million for fiscal year 2024, up from £432 million in the previous year, driven by significant revenue growth. Excluding one-off items, headline profit before tax increased to £610 million from £455 million year-on-year. Operating profit rose to £589 million,
Vertical Aerospace (Vertical), an aerospace and technology company at the forefront of electric aviation, has signed a term sheet with its majority shareholder Stephen Fitzpatrick and primary creditor Mudrick Capital Management. This agreement secures a US$50 million funding commitment, bolstering the company’s financial position and supporting its recently launched Flightpath 2030 strategy. The funding will
SMBC Aviation Capital, a prominent aircraft leasing company, has reported robust results for the six-month period ending September 30, 2024. The company achieved a profit before tax of US$275 million, marking a 16% increase compared to the same period last year. Over the six months, SMBC Aviation Capital took delivery of aircraft worth US$1.7 billion,
Spirit AeroSystems has announced a deal to sell its Fiber Materials, Inc. (FMI) business to Tex Tech Industries (Tex Tech) for US$165 million in cash, subject to customary adjustments. The transaction involves FMI’s operations in Biddeford, Maine, and Woonsocket, Rhode Island, which employ approximately 400 engineers and production staff. FMI is a leader in high-temperature
Spirit Airlines (Spirit), a US budget carrier, has filed for Chapter 11 bankruptcy protection after accumulating over US$2.5 billion in losses since 2020, REUTERS has reported. Despite its financial struggles, the airline has assured customers that operations will continue without disruption, including ticket bookings and loyalty programmes. The airline announced a “restructuring support agreement” backed
On November 13, 2024, Wheels Up Experience (Wheels Up) has completed a major milestone in its growth strategy by securing a US$332 million revolving equipment notes facility with Bank of America and acquiring GrandView Aviation’s fleet of 17 Embraer Phenom 300 and Phenom 300E aircraft, along with associated maintenance assets and customer programmes. These transactions
Spirit AeroSystems has announced a critical financial arrangement with Boeing, which will provide the company with up to US$350 million in advance payments. This cash infusion is designed to alleviate some of Spirit’s ongoing financial challenges, including excessive inventory levels, strained operational cash flows and escalating production costs that have put pressure on its balance
In the third quarter of 2024, Embraer delivered a total of 59 jets, marking a 26% increase quarter-over-quarter and a 37% rise year-over-year. Deliveries included 41 executive jets (22 light and 19 medium), 16 commercial jets, and two C-390 Millennium multi-mission aircraft for Defence & Security. Key highlights of Embraer’s Q3 2024 results include: A
The Emirates Group has recorded its highest-ever half-year financial results, achieving a pre-tax profit of AED 10.4 billion (US$ 2.8 billion) for the first six months of 2024-25, surpassing the previous record for the same period last year. This is the Group’s first financial year subject to the UAE’s corporate income tax, introduced in 2023.
