Qatar Airways Group has reported the strongest financial performance in its 27-year history, announcing record profits of QAR6.1 billion (US$1.7 billion) in its annual report for the 2023/24 financial year. The airline group reported net profits of QAR6.1 billion (US$1.7 billion) during the 2023/24 fiscal year, with a total revenue of QAR81 billion (US$22.2 billion).
SITA has reported record results for 2023, with revenues reaching almost US$1.5 billion. This represents a rise of 7% on the prior year, with all signs so far in 2024 indicating similar positive performance this year. Unveiling the results at SITA’s annual general assembly in June, SITA CEO David Lavorel also cited growth in margin
Southwest Airlines has adopted a ‘poison pill’ strategy to deter Elliott Investment Management from increasing its stake in the carrier, following the activist investor’s call for leadership changes after disappointing financial results, according to Reuters. The announcement comes days after Southwest CEO Bob Jordan stated he would not resign in response to pressure from Elliott,
The EU Commission has approved Lufthansa‘s investment in the state-owned Italian airline ITA Airways (ITA). Although the airline is currently performing well, its long-term existence as an independent entity is “highly uncertain” without this transaction. The EU Commission also stated that approval is contingent upon the airlines fulfilling conditions to safeguard competition. After years of
Archer Aviation (Archer) has received an additional US$55 million investment from Stellantis, following the achievement of Archer’s transition flight test milestone last month. This latest investment builds on Stellantis’ series of open market purchases of 8.3 million shares of Archer’s stock in March this year. During 2023, Stellantis invested US$110 million in Archer through a
Boeing has entered into a definitive agreement to acquire Spirit AeroSystems. The merger is an all-stock transaction valued at approximately US$4.7 billion, or US$37.25 per share. Including Spirit’s last reported net debt, the total transaction value is approximately US$8.3 billion. Each share of Spirit common stock will be exchanged for a number of shares of
Eve Air Mobility has announced US$94 million in new equity financing from multiple investors. The funding, which involves the issuance of new shares of common stock and warrants, includes participation from a diverse group of global industrial companies such as Embraer, Nidec and other financial investors. This new funding strongly positions the company for future
As of June 24, 2024, TUI AG shares will once again be part of the MDAX on the Frankfurt Stock Exchange. Index provider ISS STOXX confirmed that TUI meets the necessary free-float market capitalisation criteria. This marks the tourism group’s return to the German share index after approximately nine years. CFO Mathias Kiep commented, “We
Wisk Aero, an advanced air mobility (AAM) company, has announced the acquisition of Verocel Inc., a renowned software verification and validation (V&V) company. Verocel’s unique expertise in supporting the certification of high-integrity aerospace software and the qualification of V&V tools will play a pivotal role in Wisk’s ongoing effort to certify its Generation 6 autonomous,
Airbus has provided a market update regarding new developments in its space activities and commercial aircraft business, leading the company to revise its 2024 guidance. In the first half of 2024, the Space Systems management team conducted an extensive technical review of all programmes, identifying further commercial and technical challenges. As a result, Airbus has
