IFS, a prominent provider of enterprise cloud and industrial AI software, has reported its strongest-ever financial performance for the year ending December 31, 2024. Sustained organic global growth, driven by increasing demand for industrial AI, has propelled annual recurring revenue (ARR) to surpass €1 billion, with total revenue for the year reaching €1.228 billion. The
Textron Aviation (Textron) reported revenues of US$1.3 billion for the fourth quarter of 2024, down US$242 million from the same period in 2023, driven by a US$282 million reduction in volume and mix due to strike-related production disruptions. Deliveries included 32 jets, down from 50 the previous year and 38 turboprops, down from 44. Segment
Alaska Air Group has announced its financial results for the fourth quarter and full year ending December 31, 2024, which now include Hawaiian Airlines from September 18, 2024. The Group reported net income under Generally Accepted Accounting Principles (GAAP) of US$71 million, or US$0.55 per share, for the fourth quarter and US$395 million, or US$3.08
EasyJet’s shares dropped to their lowest point since October as the airline reported weaker revenue expectations for Q2, despite narrowing its Q1 losses and maintaining its annual profit forecast, REUTERS news agency reported. The airline reduced its Q1 operating loss to £40 million for the three months ending December 31, 2024, compared to £117 million
TRIGO, a global pioneer in quality management for the transportation industry, has announced the acquisition of Controreupe, a specialist non-destructive testing (NDT) company based in Saint-Geneviève-des-Bois, France. With support from law firm Ginestié-Paley-Vincent, this move bolsters TRIGO’s position in industrial quality control and broadens its service portfolio within the aerospace and defence sectors. Controreupe brings
The Italian airline ITA Airways is now a member of the Lufthansa Group. The Italian Ministry of Economy and Finance (MEF) and Europe’s leading aviation group finalised the transaction on January 17, granting the Lufthansa Group a 41% stake in ITA Airways. The remaining 59% of the airline will initially remain under the ownership of
Avolon, the aviation finance company, has successfully completed its acquisition of Castlelake Aviation from Castlelake L.P.’s aviation platform. The transaction, which was first disclosed on September 13, 2024, includes a substantial portfolio comprising 106 aircraft currently on lease, as well as commitments for ten new-technology aircraft. This strategic acquisition significantly enhances Avolon’s already impressive fleet,
Rcapital has announced the sale of Trac Precision Solutions (TRAC), a UK-based provider of precision-machined components serving the aerospace, defence and power generation sectors, to India’s PTC Industries Ltd, a prominent player in the engineering industry. The acquisition follows TRAC’s remarkable turnaround, which saw the company return to profitability and achieve sustained growth. Rcapital took
Tex-Tech Industries, Inc. (Tex-Tech), a provider of high-temperature and high-performance specialty materials and coatings, has successfully completed the previously announced acquisition of Fiber Materials, Inc. (FMI), based in Biddeford, Maine and Woonsocket, Rhode Island, from Spirit AeroSystems. FMI is a prominent player in the field of high-temperature materials and reinforced composites, specialising in carbon/carbon and
Azorra has successfully finalised a landmark US$190 million (R$1.1 billion) financing agreement with the Brazilian Development Bank (BNDES) to fund up to eight Embraer E2 jets. This facility marks the first collaboration between BNDES and ITASCA MGA Limited, further demonstrating Azorra’s dedication to pioneering innovative financing solutions. The financing, structured under BNDES’ Exim Post-shipment Product,
