Travelport and Air Canada have signed a new content distribution agreement

Air Canada posts second-quarter net income of CA$838 million

August 11, 2023

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

SIAEC completes acquisition of 49% share capital of PAES

August 11, 2023

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 has secured US$125 million from various investors

Archer secures US$215 million from various investors

August 11, 2023

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 faces closure as post-pandemic demand drops

August 10, 2023

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

TUI Group reports significant increase in earnings

August 10, 2023

The TUI Group is experiencing very high demand for holiday travel. For the first time since the beginning of the pandemic, the Group closed the third financial quarter profitably. All segments showed a positive operating performance and contributed to the improvement in earnings. The growth sector Hotels & Resorts reported underlying earnings above pre-crisis levels

Passenger growth provides boost to Fraport financial performance

August 9, 2023

Ending June 2023, the first half of the year has seen major growth across all financial sectors of Fraport, the global airport company. This has been fuelled by a noticeable increase in passenger numbers at the Group’s airports. Group revenue rose by 33.8% year-on-year to €1,804.3 million in the first six months of 2023. The

Western Global Airlines files for Chapter 11 bankruptcy protection

August 8, 2023

Estero, Florida-based Western Global Airlines has filed for Chapter 11 bankruptcy protection. The company operates chartered cargo jets for the military and other organisations. The carrier is undergoing restructuring with the help of US$77 million in financing from creditors and bondholders. The filing was not unexpected after revenues fell heavily and a heavy debt load.

Brussels Airlines improves 2022 quarter-result by 87%

August 7, 2023

Brussels Airlines has closed its first semester of 2023 at -€12 million, an improvement of 87% compared to the previous year. The first quarter ended at -€44 million, in-line with expectations and seasonality of the aviation business – and the second quarter closed at €31 million Adjusted EBIT. The more stable fuel prices, the increasing

WLFC reports second-quarter pre-tax income of US$19.0 million

August 7, 2023

Willis Lease Finance Corporation (WLFC) has reported second-quarter 2023 total revenues of US$109.0 million and pre-tax earnings of US$19.0 million. For the three months ended June 30, 2023, aggregate lease rent and maintenance reserve revenues were US$89.8 million and spare parts and equipment sales were US$4.6 million. The WLFC reported increased total revenues in the

Lufthansa captains could get 25% pay boost as Group posts record Q2 results

August 4, 2023

Lufthansa Group has released details of recent pay offers submitted to cockpit crew. These offers, incremental over the next three years, will see base pay rates increase by 18%. With lump sums and inflation bonuses on the table already agreed on last year, captains would likely see a pay raise of over 25%, while co-pilots

Financial

Air Canada posts second-quarter net income of CA$838 million

SIAEC completes acquisition of 49% share capital of PAES

Archer secures US$215 million from various investors

Wheels Up faces closure as post-pandemic demand drops

TUI Group reports significant increase in earnings

Passenger growth provides boost to Fraport financial performance

Western Global Airlines files for Chapter 11 bankruptcy protection

Brussels Airlines improves 2022 quarter-result by 87%

WLFC reports second-quarter pre-tax income of US$19.0 million

Lufthansa captains could get 25% pay boost as Group posts record Q2 results

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