The European Commission has granted approval for a €833 million (SEK 9.5 billion) state aid measure for the recapitalisation of Scandinavian Airlines System (SAS), a decision made under the State aid COVID Temporary Framework. Originally notified by Denmark and Sweden in August 2020, the recapitalisation was part of a broader package that involved substantial participation
easyJet achieved a record performance during summer 2023, despite high fuel costs and the challenges arising from the external operational environment, thanks to initiatives implemented over the past year and a half. Supported by strong consumer demand, the company’s success is driven by the low-risk expansion at primary airports, significant increases in ancillary revenue, market
L3Harris Technologies has finalised an agreement for the acquisition of its Commercial Aviation Solutions (CAS) business by an affiliate of TJC L.P. (formerly known as The Jordan Company) for US$800 million. The deal comprises a US$700 million cash purchase price and a US$100 million earnout linked to specific 2023 and 2024 financial targets, reflecting a
Asyad Holding (ASYAD) and Swissport International AG have signed binding transaction agreements to unlock the enormous growth potential of Saudi Arabia’s aviation ground services sector over the coming years. As part of the transaction Swissport International is selling a 49% stake in Swissport Saudi Arabia to ASYAD, a diversified, family-owned Saudi holding group with significant
In March 2021, Finnair and the State of Finland inked an agreement for a hybrid loan, totalling a maximum of €400 million, to provide vital support amidst the challenges posed by the COVID-19 pandemic. Fast forward to April 2022, the hybrid loan underwent a transformation into a capital loan, classified as an equity instrument and
Israel Aerospace Industries (IAI), a leader in the Israeli military and commercial homeland defence and aerospace markets, has issued its consolidated financial statements for the nine months ended September 30, 2023. The company’s sales in the reporting period grew to about US$3,873 million compared with about US$3,601 million in the corresponding period of 2022, an
SAS Scandinavian Airlines (SAS) has achieved a significant milestone in its SAS FORWARD plan as the U.S. Bankruptcy Court for the Southern District of New York grants approval for the airline’s entry into an investment agreement with the winning bidder consortium. Comprising Castlelake, Air France-KLM, Lind Invest ApS and the Danish state, the investors are
Project Speedbird – a joint partnership between Nova Pangaea Technologies (NPT), LanzaJet and British Airways (BA) – has secured new funding totalling £9 million from the Government’s Advanced Fuels Fund (AFF) competition. NPT, a Teesside-based cleantech company developing advanced biofuels used to produce SAF, was awarded £7.5 million as part of the partnership and LanzaJet,
Embraer has closed a framework agreement for a credit operation aimed at helping its customers purchase aircraft with the support from UK Export Finance (UKEF). UKEF is a British government agency focused on financing local exports, which will be the credit guarantor for future financial transactions. This support is bound by the volume of materials
EAS Aviation Group and UAE-based Knighthood Global have signed an agreement at the Dubai Airshow to collaborate in securing capital funding, providing EAS with the necessary financial support to purchase end-of-life aircraft from various lessors, airlines and asset owners. In collaboration with MRO JAT Tehnika, a renowned aviation expert and subsidiary of Avia Prime Group based in Belgrade, EAS currently
