In the second quarter of 2024, Frontier Airlines experienced a modest revenue increase of 1% to US$973 million, driven by a 13% rise in capacity compared to the same period in 2023. The airline also saw a 26% surge in departures, although the average stage length decreased by 13% to 899 miles. The total revenue
Lockheed Martin has announced the signing of a definitive agreement to acquire Terran Orbital, a global leader in satellite-based solutions that primarily support the aerospace and defence industries. Terran Orbital brings extensive robotic manufacturing capabilities and high-performing modular space vehicle designs to the table. Combined with Lockheed Martin’s proven track record in performance and innovation,
Canada Jetlines has announced it is grounding all flights and temporarily ceasing airline operations with immediate effect, becoming the latest casualty in Canada’s troubled commercial airline industry. The airline, which primarily served sun destinations from Toronto, revealed on Thursday, August 15, that it has been unable to secure the necessary capital to continue operating and
TUI has continued its strong trajectory of earnings and sales growth, reporting a successful third quarter for the 2024 financial year. The tourism group welcomed 5.8 million guests during the reporting period, resulting in record sales of €5.8 billion. This represents a nine percent increase compared to the same quarter in 2023, which saw sales
BOC Aviation has announced its unaudited results for the six months ending June 30, 2024. The company achieved a record net profit after tax (NPAT) of US$460 million, surpassing the previous first-half record of US$323 million set in 2020. This significant growth is attributed to the continued expansion of its core business and successful aircraft
Alaska Airlines has announced an investment in JetZero, a pioneering company developing a new blended-wing body (BWB) aircraft that promises up to 50% less fuel consumption and reduced emissions. This investment underscores Alaska’s commitment to advancing technologies that will shape the future of aviation, particularly in supporting the airline’s goal of achieving net-zero carbon emissions.
Chorus Aviation Inc. (Chorus) announced its second-quarter 2024 financial results, highlighting significant changes in its operations. On July 30, 2024, Chorus revealed that it had entered into an agreement to sell its Regional Aviation Leasing (RAL) segment, which has since been reclassified as discontinued operations. Following the closure of this transaction, Chorus will operate under
Archer has announced an agreement in principle on key terms for its contract manufacturing relationship with Stellantis. Building on the nearly US$300 million Stellantis has already invested, including US$55 million in July 2024, the company plans to fund additional costs to support Archer’s manufacturing goals. Stellantis will finance up to approximately US$370 million of the
In the second quarter of 2024, Embraer delivered 47 jets, marking an 88% increase from the 25 aircraft delivered in the first quarter. Of these deliveries, 27 were executive jets—20 light and seven medium—19 were commercial jets, and one was a multi-mission C-390 Millennium in Defence. The company’s firm order backlog reached US$21.1 billion in
Qantas‘ Board has finalised its decisions regarding executive remuneration for FY23, implementing significant reductions in response to recent challenges and reputational damage. Last September, the Board announced a 20% reduction in short-term incentives for members of the Group Management Committee, recognising the brand and customer impacts from various cumulative events, including operational disruptions and legal
