Scandinavian airline SAS has revealed a significant rise in its second-quarter loss on Thursday, May 30, more than doubling from the previous year, as the company continues its financial restructuring efforts. For the February-April quarter, SAS reported a pretax loss exceeding US$287 million, compared to a loss of approximately US$132 million in the same period
Cerberus Capital Management, L.P. (Cerberus), a global leader in alternative investing with a dedicated investment platform focused on supply chain integrity and national security, has acquired a controlling interest in M1 Support Services (M1). Founded in 2003, M1 is a premier provider of aircraft MRO, modification, flight training, logistics support and supply chain management services
STS Aviation Services (STS), a division of STS Aviation Group, has announced the acquisition of UK-based engine MRO, GT Engine Services (GTES). Since establishing itself in the UK at the end of 2019, STS Aviation Services has delivered sustained year-on-year growth, continued to add both capacity and capability, and is now the largest independent MRO
Boeing plans to invest in several Québec-based enterprises, including a CA$110 million anchor investment for an Aerospace Development Centre in the new Espace Aéro Innovation Zone. These investments are part of Boeing’s industrial and technological benefits commitment to Canada, linked to the selection of Boeing’s P-8A Poseidon to fulfil its long-term multi-mission aircraft role. Boeing’s
SAS and Apollo are enhancing their strategic partnership by signing a new three-year agreement valued at 4.5 billion SEK (US$420 million). This agreement designates SAS as Apollo’s primary charter operations partner in Scandinavia from the summer of 2025 through the summer of 2027. In the spring of 2021, SAS and Apollo entered into a record-sized
SITA has acquired Materna IPS GmbH, a leader in passenger handling for airports and airlines. This move aims to reshape the aviation industry, creating the most powerful passenger portfolio for airports and digital travel. It brings SITA’s vision of reinventing travel and transport to life, enhancing its leadership in passenger processing as part of a
Ryanair has reported record annual profits of €1.9 billion (£1.6 billion) and announced the appointment of former UK Home Secretary Amber Rudd to its Board. Additionally, the airline indicated that summer fares would be lower than previously anticipated. The airline’s profits after tax rose by over a third in the year ending March, compared to
SIA Group (SIA) has posted its highest full year operating and net profits in the Group’s history as robust demand for air travel drives record passenger revenue and load factors. The demand for air travel remained buoyant throughout FY2023/24, boosted by a rebound in North Asia as China, Hong Kong SAR, Japan, and Taiwan fully
The Fraport Group has started the 2024 fiscal year successfully, with all key financial indicators achieving at least double-digit growth rates during the first quarter of 2024 (Q1 2024 ending March 31).The main driver of this positive trend was continued passenger growth at many of the airports across Fraport’s global network. Group revenue increased by
The Emirates Group has unveiled its 2023-24 annual report, marking new milestones in profit, revenue and cash reserves. Both Emirates and dnata witnessed notable increases in profit and revenue during 2023-24, reflecting the Group’s global expansion efforts to meet robust customer demand for its premium offerings. For the fiscal year ending March 31, 2024, the
