Brazilian airline Azul Linhas Aereas has finalised negotiations with its aircraft lessors and creditors, securing up to US$500 million in new financing from bondholders. As part of the agreement, Azul will receive US$150 million immediately, another US$250 million by the year’s end and a further US$100 million soon after. Additionally, cost reductions negotiated with certain
The Lufthansa Group achieved record third-quarter (Q3) revenue of €10.7 billion, a 5% increase from the previous year’s €10.3 billion, primarily due to an increase in flight numbers and a boost in Lufthansa Technik’s performance. This strong revenue result marked the most successful quarter in the Group’s history. However, profitability faced pressure as Adjusted EBIT
The Norwegian Group has reported a strong third quarter in 2024, achieving an operating profit (EBIT) of NOK 2,128 million, reflecting an 18.4% operating margin. The group saw increased capacity and improved load factors, supported by Widerøe’s milestone of carrying over one million passengers in a single quarter. The quarter’s financial highlights include a pre-tax
Snow Peak Capital, LLC, a private equity firm specialising in middle-market investments, has acquired TurbineAero, Inc., the independent provider of MRO services for aircraft auxiliary power units (APUs) and other aero engine components. The acquisition was made from The Gores Group, a global investment firm, though specific financial details were not disclosed. TurbineAero, founded in
Lilium N.V., the electric aircraft manufacturer, has confirmed that its principal German subsidiaries will initiate applications for self-administration proceedings in the coming days. This move follows a protracted and complex government approval process for a loan from KfW, which was ultimately declined by the Budget Committee of the German Parliament. As Lilium’s international competitors benefit
Boeing has reported third-quarter revenue of US$17.8 billion, with a GAAP loss per share of (US$9.97) and a core loss per share of (US$10.44), primarily due to the IAM work stoppage and charges on commercial and defence programmes. The company posted negative operating cash flow of (US$1.3 billion) and free cash flow of (US$2.0 billion).
Sunaero has announced the acquisition of RJ Aero and Japa Aero Design, two well-established companies in the aircraft maintenance industry, specialising in structural and cabin services. This strategic move aligns with Sunaero’s growth plan and strengthens its position as a leading provider of mobile and technological aeronautical maintenance services, particularly in metal and composite structures,
RTX has reported third-quarter (Q3) sales of US$20.1 billion, a 6% increase from the previous year. Adjusted sales also stood at US$20.1 billion. GAAP EPS was US$1.09, including US$0.31 of acquisition accounting adjustments and US$0.05 of restructuring and other one-off charges. Adjusted EPS was US$1.45, a 16% rise from the previous year. Net income attributable
Precision Aviation Group (PAG) has acquired ICON Aerospace (ICON) and TAG Aero (TAG). These strategic moves significantly enhance PAG’s capabilities in avionics and engine services while broadening its product offerings within the airline market. ICON, based in Indian Trail, North Carolina, is a provider of MRO services, focusing on avionics, accessories, and electronics. TAG, located
Wafra Inc., a global alternative asset manager based in New York, has acquired a controlling stake in Aquila Air Capital (Aquila), a prominent engine lessor. Wafra has signed definitive agreements to acquire the Aquila platform from Warburg Pincus, a global growth investor. Through this transaction, Wafra will take a controlling interest in Aquila and provide
