Following regulatory approvals for the acquisition of Ball Aerospace, BAE Systems has now successfully concluded the acquisition of Ball Aerospace from Ball Corporation. The transaction has been finalised at a purchase price of US$5.5 billion (approximately £4.4 billion), financed through existing cash reserves and new external debt. The newly acquired entity will operate under the
Air Canada has demonstrated robust financial performance in the fiscal year 2023 compared to 2022, with notable improvements across key metrics. The airline’s operating revenues reached CA$21.833 billion, marking a significant 32% increase driven by a 20% growth in operated capacity. Operating expenses rose to CA$19.554 billion, up 17%, primarily attributed to higher capacity and
The Federal Aviation Administration (FAA) is set to distribute US$970 million from President Biden’s Bipartisan Investing in America agenda to 114 airports across the country, covering 44 states and three territories. This announcement, part of the Administration’s Investing in America tour, fulfils President Biden’s commitment to rebuilding the nation’s infrastructure, lowering costs for families, creating
Norwegian Air Shuttle (Norwegian) has reported its fourth-quarter and preliminary full-year results for 2023, revealing a strong operating profit of NOK 2.23 billion. The full-year operating profit marks the highest in the company’s history, showcasing Norwegian’s capability to deliver robust results by strategically adjusting capacity during the quieter winter period. The airline maintained its position
Airbus has disclosed its consolidated financial results for the full year 2023, accompanied by forward-looking guidance for the year 2024. The company reported a substantial increase in gross commercial aircraft orders, totalling 2,319 units, compared to 1,078 in 2022, with a net order of 2,094 aircraft after cancellations. The order backlog stood at 8,598 commercial
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
