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
IFS, the global cloud enterprise software company, has released its financial results for the full year ending December 31, 2023. The company posted exceptional results with software revenue growth at 33% year-on-year and cloud revenue up 46% as new and existing customers accelerate the move to IFS Cloud, a market-leading single-cloud platform, allowing customers to
Private investor Rcapital has completed the acquisition of aerospace and defence engineering business, FGP Group. The deal will mean that over 200 jobs in Dorset, UK, are protected. The Group comprises Weymouth-based FGP Systems Limited, a precision engineering business which provides very high-tolerance machining, turning and fabrication services to blue-chip aerospace and defence customers, and FGP
