BOC Aviation has released its unaudited financial outcomes for the six-month period concluding on June 30, 2023. BOC Aviation posted a net profit after tax (NPAT) of US$262 million during the initial half of 2023. This success was propelled by an upsurge in lease rental earnings, coinciding with the upward trajectory of global passenger travel.
Robinson Aircraft, an innovative British Columbia-based company operating under the name Horizon Aircraft, is set to revolutionise the electric vertical take-off and landing (eVTOL) aircraft sector. Pono Capital Three, a distinguished special purpose acquisition company (SPAC), has announced a definitive Business Combination Agreement that will see Horizon Aircraft amalgamate with Pono Three Merger Sub, Inc.,
IAI has reported that sales in the first half (H1) of 2023 grew to about US$2,540 million compared with about US$2,359 million in H1 2022, an increase of about 8%, mainly deriving from the Systems Missiles & Space Group and the Military Aircraft Group. The sales of the Military Groups in H1 2023 increased by
Delta Air Lines, Certares Management and Knighthead Capital Management have announced an expanded partnership with Wheels Up Experience to accelerate the company’s business transformation. Earlier this year, Wheels Up announced plans to scale and evolve its product offerings to deliver world-class private aviation service profitably. Funding provided by Delta, certain affiliates of Certares and Knighthead, and other
Turkish Airlines has seen its international passenger demand increase by 28% since 2019 pre-pandemic levels. For the second quarter of 2023 total revenue reached to US$5.1 billion increasing by 13.5% compared to the same period last year. Due to reduced global trade and earthquake impact, the carrier’s cargo revenues decreased by 44% year-over-year to US$600
Embraer has posted consolidated revenue of US$1,292 million in 2Q23 representing an increase of 27% YoY due to higher volumes in Commercial and Executive aviation with strong growth of 57.4% and 41.8% respectively. Commercial Aviation reported revenue growth of 57% YoY to US$ 471.9 million due to higher number of deliveries. Reported gross margin of 12.9%
Air Canada has reported that second-quarter operating revenues of CA$5.427 billion increased CA$1.446 billion from the same quarter in 2022, driven by a 42% year-over-year increase in passenger revenues. Operated capacity increased 21% from the second quarter of 2022, one percentage point lower than the projection provided in Air Canada’s May 12, 2023, news release. Operating expenses of CA$4.625 billion increased CA$391 million or
Further to the announcement dated February 13, 2020, SIA Engineering Company Limited (SIAEC) has released that SIAEC’s acquisition of 49% of the share capital of PAES was completed on August 10, 2023. The consideration for SIAEC’s acquisition of the 49% stake from Pos Aviation Sdn Bhd (PASB) was MYR4 million in cash. This was arrived
Archer Aviation, a leader in electric vertical take-off and landing (eVTOL) aircraft, has reported operating and financial results for the second-quarter ended June 30, 2023. The company reported total operating expenses of US$181.4 million and a net loss of US$-184.1 million. Cash, cash equivalents and short-term investments stood at US$407.6 million at the end of June.
Wheels Up Experience (Wheels Up), the private aircraft charter enterprise faces closure as demand for personal air transport continues to fall post the COVID-19 pandemic. According to REUTERS, the warning comes despite Delta Air Lines providing the business with substantial short-term funding. Wheels Up charters private aircraft to clients by the hour and according to
