Dubai Aerospace Enterprise (DAE) has reported its financial results for the nine months ended September 30, 2023. The company reported revenues of US$989.2 million, compared to US$853.9 million in 2022 and profit before tax and exceptional items of US$207.5 million, compared to US$200.6 million for the same period in 2022. In the third quarter of
Air Canada has released its third quarter 2023 financial results. The carrier posted operating revenues of CA$6.344 billion an increase over CA$1 billion from the third quarter of 2022 driven by higher passenger revenues. Operated capacity increased 10% from the third quarter of 2022, about one percentage point below the projection provided in Air Canada’s August 11, 2023, news release.
Spirit Airlines (Spirit) has released its third-quarter 2023 financial results. The company reported a net loss of US$157.6 million, excluding special items; adjusted net loss for the third quarter 2023 was US$149.8 million. For the third quarter 2023, Spirit reported a pre-tax loss of US$203.6 million and a pre-tax margin of negative 16.2%. Adjusted pre-tax
International Airlines Group (IAG) has reported record profit and high margins in the third quarter of 2023, driven by very strong leisure demand across all its airlines. The Group reported strong growth of operating profit before exceptional items in the quarter of €1,745 million (Q3 2022: €1,216 million) and an operating margin of 20.2%(Q3 2022:
Air France-KLM and Apollo Global Management have signed a definitive agreement between Apollo-managed funds and entities and a dedicated operating affiliate of Air France-KLM regarding a €1.3 billion financing, accounted as quasi-equity under IFRS, with the option for Apollo to increase the nominal amount up to €1.5 billion in total, prior to closing. This dedicated
The Boeing Company has recorded third-quarter revenue of US$18.1 billion and a net loss of US$1.6 billion. GAAP loss per share was (US$2.70) and core loss per share (non-GAAP) was (US$3.26). Third quarter results were impacted by unfavourable defence performance and lower 737 deliveries. Commercial Airplanes third quarter revenue increased to US$7.9 billion driven by higher 787 deliveries. Operating margin of (8.6%)
Portugal’s flag carrier TAP Air Portugal (TAP) has posted a remarkable 62% surge in net profit for the third quarter, setting a new record at €180.5 million (US$192 million). This impressive financial performance was attributed to robust revenue growth and stringent cost controls, which significantly boosted operating margins, all while the company is gearing up
The Board of Directors of the African Development Bank Group has approved a US$23.6 million (£19.3 million) loan for the construction and equipment of a new aviation training facility in the Rwandan capital, Kigali. The proposed Centre of Excellence for Aviation Skills (CEAS), including an aircraft hangar, will partner with higher learning institutions to produce
In the third quarter of 2023, Alaska Airlines (Alaska) has reported net income of US$139 million under Generally Accepted Accounting Principles (GAAP). This marks a significant increase compared to the US$40 million net income recorded in the third quarter of 2022. When special items and mark-to-market fuel hedge accounting adjustments are excluded, the reported net
Qantas and Alliance Aviation Services (Alliance) have jointly announced the termination of their May 2022 agreement for Qantas to fully acquire the Australian-based charter operator. This acquisition, which had received formal opposition from the competition regulator in April 2023, was initially anticipated to deliver enhanced customer value without undermining competition, especially in the fiercely competitive
