On Wednesday, November 6, budget airline Wizz Air lost its legal challenge against a capital increase for its Romanian rival TAROM, funded by the Romanian government and approved by EU competition regulators. The General Court of the European Union, Europe’s second-highest court, dismissed Wizz Air’s objections to the support package. According to REUTERS news agency,
SIA Engineering Group (SIAEC) has released its half-year results, indicating a robust demand for maintenance, repair and overhaul (MRO) services in the first half of the financial year ending 30 September 2024. All operating segments achieved higher revenue. Group revenue rose by 12.1% year-on-year to SGD576.2 million, while Group expenditure increased at a slightly lower
Lilium N.V., the electric aircraft manufacturer and pioneer in Regional Air Mobility (RAM), has appointed KPMG to lead an open, transparent and fair M&A process, with initial investor briefings set to begin soon. This follows a significant step in Lilium’s restructuring, as the local court in Weilheim has approved the insolvency filing of Lilium’s German
Air Transport Services Group (ATSG), a major player in leasing medium wide-body freighter aircraft and air transport operations, announced it will be acquired by Stonepeak, an investment firm specialising in infrastructure, for approximately US$3.1 billion. This all-cash acquisition at US$22.50 per share represents a 29.3% premium over ATSG’s recent share price, benefiting shareholders with substantial
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
