Aircraft leasing company SMBC Aviation Capital, has posted its results for the financial year ended March 31, 2024. The company reported a record profit before tax of US$460 million, marking a 35% increase year-on-year, before exceptional items. Including insurance settlement proceeds of US$756 million, the profit before tax rose to US$1.2 billion. Lease revenue grew
QOCO Systems, a provider of aviation software solutions, has received an investment of several million euros to accelerate its international expansion. Finnish private equity company Juuri Partners has become a minority shareholder in QOCO Systems, supporting the company’s global growth and product development. The investment will primarily be used to recruit new talent in software
Joby Aviation, a company developing electric air taxis for commercial passenger service, has announced the acquisition of the autonomy division of Xwing Inc., an industry pioneer in autonomous aviation technology. Founded in 2016, Xwing has been flying autonomous aircraft since 2020, utilising the Superpilot software it developed in-house. Superpilot enables safe, uncrewed operations, supervised from
FTAI Aviation has announced its agreement to acquire Lockheed Martin Commercial Engine Solutions (LMCES) from Lockheed Martin Canada for $170 million. This transaction is pending customary regulatory approvals and is expected to be finalised in the latter half of 2024. LMCES operates a 526,000 ft² aircraft engine maintenance and repair facility in Montréal, Quebec, with
GE Aerospace is expanding its Tres Rios maintenance, repair and overhaul (MRO) plant with an investment of BRL 430 million in response to increased customer demand across the region. The expansion work began earlier this year and is expected to be completed by autumn 2025. With the plant upgrade, the site will employ 500 GE
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
