At the 65th annual general meeting, the shareholders of TUI AG, laid the foundation for the planned delisting from the London Stock Exchange. Shareholders voted clearly in favour of the proposed change to the group’s dual listing and voted by a large majority (98%) to delist from the London Stock Exchange. The next step will
In a significant development, activist investor Carl Icahn has acquired an almost 10% stake in JetBlue, propelling the airline’s shares up by more than 18% in Tuesday afternoon trading. Icahn, who made the purchases in January and February, expressed his belief in a regulatory filing that JetBlue’s stock is undervalued and presents an appealing investment
Bombardier has delivered robust financial results for the fourth quarter and full year of 2023, surpassing its 2023 guidance. The company’s total revenues for 2023 reached US$8 billion, a 16% increase compared to the previous year, marking the highest level since the strategic refocus in 2021. Notably, aftermarket revenue hit an all-time high at US$1.75
Avolon, an aviation finance company, has achieved a net income of US$110 million for the fourth quarter of 2023 and for the full year, it recorded a net income of US$339 million. This marks a significant increase of US$330 million compared to FY22, representing a 34% growth when excluding the impact of Russia in FY22.
For the fourth quarter 2023, Spirit Airlines (Spirit) reported a net loss of US$183.7 million, excluding special items, adjusted net loss for the fourth quarter 2023 was US$148.7 million. For the fourth quarter 2023, Spirit reported a pre-tax loss of US$228.3 million and a pre-tax margin of negative 17.3%. Adjusted pre-tax loss for the fourth
Airline industry net profit per passenger is predicted to increase by almost 60% between 2023 and 2024, according to data recently revealed by IBA, a leading aviation market intelligence and advisory company. IBA’s experts forecast that the net profit per passenger will rise from US$6.40 in 2023 to US$10.20 in 2024 – an increase of 59.4%.
Heston MRO continues its growth as the largest independent total care MRO in Australasia through acquisition of Melbourne-based Aviation NDT Services. Aviation NDT services was established in 1986 and has since positioned itself as a quality provider of independent and flexible NDT services across Australia, Pacific Island and the Asia region. The company provides its
Honeywell will invest US$84 million to expand its Olathe manufacturing facility in Kansas, U.S.A. The project, which is expected to generate nearly US$47 million in total gross domestic product (GDP) and contribute US$18.3 million to state and local taxes in the first six years, supports the company’s alignment with the compelling megatrend of the future of
BAE Systems’ recent acquisition of Malloy Aeronautics, a renowned British technology business specialising in heavy-lift drones and aeronautical technologies, marks a significant step toward enhancing its capabilities in the unmanned aerial systems (UAS) domain. Malloy Aeronautics is recognised for its design and supply of innovative, all-electric UAS to both civil and military customers. With a
Swedish hybrid-electric airplane maker Heart Aerospace has released that it has raised a total of US$107 million in Series B funding, representing another significant stepping stone toward sustainable regional air travel. The new round brings the total financing raised by Heart Aerospace since its inception to US$145 million. Among new investors is Sagitta Ventures, a
