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
ANA Holdings (ANA HD) has reported its financial results for the nine months ended December 31, 2023. In the first nine months of fiscal year 2023 (April 1, 2023 – December 31), led by strong inbound demand and leisure demand, overall passenger demand continued to steadily recover, despite ongoing global geopolitical risks. Further, while there
Amadeus IT Group, a Spanish multinational technology company that provides software solutions for the global travel and tourism industry, has announced it is acquiring Vision-Box, a leading provider of biometric solutions for airports, airlines and border control customers. The acquisition of Vision-Box will bring new capabilities around biometrics hardware and software, adding border control solutions
Boeing announced fourth-quarter revenue totalling US$22.0 billion, with a GAAP loss per share of ($0.04) and a core loss per share (non-GAAP) of ($0.47). The company recorded an operating cash flow of US$3.4 billion and a free cash flow of US$3.0 billion (non-GAAP), showing improvement attributed to higher commercial volume and performance. Commercial Airplanes’ fourth-quarter
