Magnetic Leasing, part of the Magnetic Group, has successfully closed a secured term loan with volofin Capital Management to finance mid-life narrow-body aircraft, engines, and landing gears. This transaction and strategic alliance represent Magnetic Group’s first structured financing facility as part of its ongoing expansion strategy. Alex Vella, CEO of Magnetic Leasing and CIO at
The Brazilian National Bank for Economic and Social Development (BNDES) has finalised the financing contract for the export of 32 Embraer E175 commercial jets to American Airlines. The operation, worth around R$4.5 billion (US$808 million), is facilitated through BNDES Exim Post-shipment, a direct credit line from the Bank to support the commercialisation of national goods
GE Aerospace plans to invest more than US$1 billion over five years in its maintenance, repair and overhaul (MRO) and component repair facilities worldwide. These investments will help GE Aerospace create capacity to meet growth in both the widebody and narrow-body installed base by adding additional engine test cells and equipment. The funding will also
AAR CORP. has posted fourth-quarter 2024 consolidated sales of US$656.5 million and income from continuing operations of US$9.1 million. For the fourth quarter of the prior year, the company reported sales of US$553.3 million and income from continuing operations of US$23.2 million. Consolidated fourth-quarter sales increased by 19% over the prior year quarter. Consolidated sales
Cabinair Services, a UK-based and well-established service provider specialising in aircraft interior design, refurbishment and repair, has announce the acquisition of a majority shareholding in AeroKnow SIA (AeroKnow), a prominent Latvian-based aviation engineering and design house, with engineers located around the world. This strategic acquisition enhances Cabinair Services’ capabilities by integrating AeroKnow’s expertise in EASA
On a preliminary basis, the Lufthansa Group generated an adjusted EBIT of €686 million in the second quarter of 2024 (previous year: €1.1 billion). A market-related decline in average yields in all traffic regions, particularly in Asia, had a negative impact. The unit costs of the passenger airlines remained at the previous year’s level in
SITA has finalised the acquisition of Materna IPS following the completion of regulatory formalities and legal procedures. This acquisition marks a significant leap forward in the digitalisation of the global aviation industry, enhancing check-in, baggage handling, and security processes. Travellers can expect reduced wait times, smoother journeys, and a new era of personalised digital services.
IFS, the technology innovator in cloud and Industrial AI software, has acquired EmpowerMX, an AI-powered aviation maintenance software provider specialising in airframe MRO solutions, trusted by large aviation organisations including Embraer, MRO Holdings, Delta and American Airlines. The acquisition reinforces IFS’s commitment to Industrial AI and underpins the importance of industry-specific capabilities that enable customers
Delta Air Lines (Delta)has reported a 29% decline in second-quarter profit due to higher costs and discounting of base-level fares across the industry. Despite this, the airline still earned US$1.31 billion during that period. The company’s revenue rose by 7% to nearly US$16.66 billion, setting a new record for the quarter. Delta CEO Ed Bastian emphasised the need for low-cost
BOC Aviation Limited (BOC Aviation) has successfully concluded a self-arranged club loan transaction involving 25 banks worldwide, amounting to US$2.3 billion. This five-year agreement represents the company’s largest transaction to date, surpassing the US$1.375 billion club loan signed in October 2023. The transaction consists of four facilities extended by global banks to BOC Aviation and
