S&P Global Ratings (S&P) has upgraded Delta’s credit rating, citing the company’s financial performance and continued strong demand for air travel. The firm, which evaluates and assigns ratings to companies based on how they measure financial results, upgraded Delta to a “BB+” rating, one step below an investment-grade rating. “The company, along with its mainline
The Qantas Group has posted its first full year statutory profit since FY19. For the full year 2023 (FY23), the Group achieved an underlying profit before tax of AU$2.47 billion and a Statutory after tax profit of AU$1.74 billion. This compares with AU$7 billion in accumulated statutory losses over three prior years. Underpinning the profit was
Norwegian Air Shuttle (Norwegian) has delivered an operating profit (EBIT) of NOK 651 million in the second quarter, which was characterised by strong operational performance amidst ramping-up into the busy summer travel season. Furthermore, the airline and Strawberry’s new loyalty company announced that Avida has been selected as the preferred financial partner. Together with Norwegian’s
Swissport Deutschland GmbH (Swissport) has successfully completed its acquisition of a 74.9% stake in Flughafen Düsseldorf Cargo GmbH (Flughafen Düsseldorf) for the creation of a cargo joint venture which will operate under the name of Swissport DUS Cargo Services GmbH. The new partnership came into effect on August 17. The completion of the deal follows
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%
