The Qantas Group has reported robust earnings for FY24, achieving an underlying profit before tax of AU$2.08 billion and a statutory profit after tax of AU$1.25 billion for the year ending 30 June 2024. Although overall earnings were lower than the previous year due to moderated fares, increased customer initiative spending, and a decline in
Swedish airline SAS has successfully exited U.S. Chapter 11 bankruptcy proceedings, marked by a strengthened balance sheet and new ownership. The restructuring process involved the company reorganising over US$2 billion in debt, adjusting its fleet and delisting its stock, which resulted in the elimination of the stakes held by more than 250,000 former shareholders. During
StandardAero has announced its acquisition of Aero Turbine Inc., a provider of maintenance, repair and overhaul (MRO) services and consultative repair solutions for military engines and accessories. The acquisition was made from Gallant Capital, a Los Angeles-based private equity firm. Founded in 1978, Aero Turbine operates out of the Stockton Metropolitan Airport in northern California.
China Aircraft Leasing Group Holdings (CALC) has reported its unaudited interim results for the six months ending June 30, 2024, showcasing an 8.7% increase in total revenue to HK$2,528.1 million. Profit attributable to shareholders amounted to HK$131.7 million, with earnings per share recorded at HK$0.177. The Board has declared an interim dividend of HK$0.12 per
Capital A Berhad (Capital A) has reported the successful signing of a US$443 million revenue bond for AirAsia, marking a crucial step in its ongoing efforts to strengthen its financial position and accelerate growth in its airline business. This financing is a significant milestone in AirAsia’s journey to emerge stronger and more resilient after the
Qatar Airways Group has acquired a 25% stake in Airlink, Southern Africa’s independent regional carrier. This strategic investment aligns with Qatar Airways’ ongoing ambition to expand its operations across the African continent. Airlink operates flights to over 45 destinations across 15 African countries. The investment will enhance the existing code-sharing partnership between Qatar Airways and
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
