MTU Aero Engines AG has revised its earnings outlook for 2024, now expecting an adjusted EBIT of slightly over €1 billion. Previously, the company had forecasted adjusted EBIT between €950 million and €980 million. This improved outlook is based on strong performance across all business segments despite ongoing market challenges. Preliminary figures for the first
Britten-Norman, a UK utility aircraft manufacturer, has successfully completed its second funding round, securing significant capital from Northern Ireland-based Beechlands Enterprises. This investment will accelerate production of the iconic Islander aircraft and transform the company’s aftermarket business. The firm will expand its UK manufacturing operations, aiming to produce up to eight aircraft annually in phase
Virgin Australia has built on its FY23 return to profitability, delivering an even stronger performance in FY24. Underlying EBIT rose by 18.2% to AU$519 million, despite facing challenges such as supply chain constraints, unprecedented industry inflation and strong competition. The group’s result represents an underlying EBIT margin of 9.7%, up from 8.8% in FY23. The
Qantas has been ordered by the Federal Court to pay AU$100 million in penalties for misleading consumers. The penalties relate to the airline offering and selling tickets for flights it had already decided to cancel, as well as failing to promptly inform existing ticket holders of its decision. This ruling follows a case brought by
STS Aviation Group (STS) has announced a significant equity investment from H.I.G. Capital (H.I.G.), a global alternative investment firm. The executive team at STS, led by CEO P.J. Anson, will remain in charge and continue as significant shareholders in the company. Founded in 1984, STS Aviation Group provides comprehensive nose-to-tail aircraft maintenance services to the
Jet Parts Engineering (JPE), a provider of PMA parts, DER repairs and MRO services for commercial aircraft, has announced the acquisition of Mitchell PMA, the PMA division of Mitchell Aircraft. This integration will enhance JPE’s ability to meet customer demands by offering a wider range of high-quality parts at competitive prices. “We are excited to
Aviation finance company Avolon has provided an update on its activities for the third quarter (Q3) of 2024. The company sold 11 aircraft during the period, resulting in 59 aircraft now agreed for sale. Additionally, Avolon delivered nine new aircraft and transitioned five aircraft to a total of 11 customers. It has entered into letters
Gogo Inc. and Satcom Direct have entered into a definitive agreement under which Gogo will acquire Satcom Direct, creating an in-flight connectivity provider capable of meeting the performance and cost requirements of every segment in the global business aviation and military/government mobility markets. As per the terms of the agreement, Satcom Direct will receive US$375
Pratt & Whitney (P&W) has inaugurated its new 845,000 ft² facility in Oklahoma City, further establishing its position as the company’s largest military engines field location. The US$255 million investment will enable Pratt & Whitney to meet the growing demands of both U.S. and international defence customers for engines such as the F135, F117, TF33,
Jackson Square Aviation (JSA) has successfully closed a US$150 million pre-delivery payment (PDP) financing facility for Frontier Airlines Inc. (Frontier). The facility will partially finance Frontier’s obligations for the pre-delivery payments on its Airbus A320neo-family aircraft, scheduled for delivery through to 2027. The new PDP financing marks a continuation of the long-standing relationship between JSA
