The Qantas Group will establish an AU$400 million climate fund to provide direct investments in sustainability projects and technologies, as the airline works towards its emissions reduction targets. The Qantas Climate Fund, announced as part of the Group’s Investor Strategy Day, will be the largest aviation fund of its kind. The fund includes the ~AU$290 million
Deutsche Lufthansa AG (Lufthansa) has agreed with the Italian Ministry of Economy (Ministero dell’Economia e delle Finanze, MEF) to acquire a 41% stake in ITA Airways through a capital increase of €325 million (£283 million). As part of the agreement, the MEF has also committed to a capital increase of €250 million into ITA. Lufthansa
Kawasaki Motors has become a strategic investor in VoltAero, joining Series B funding for the development, production and certification of VoltAero’s Cassio electric-hybrid aircraft family. This investment – which was announced prior to the opening of the EBACE European Business Aviation Convention & Exhibition in Geneva, Switzerland – marks the Cassio programme’s latest milestone, uniting VoltAero
Ryanair has posted full-year 2023 (FY23) PAT of €1.43 billion, compared to a previous-year loss of (€355 million), due to strong full-year traffic recovery, improving fares and advantageous fuel hedges. Scheduled revenue grew over 160% to €6.93 billion. Following a disappointing Q1 (when traffic was badly impacted by Russia’s invasion of Ukraine on 24 Feb. 2022),
A dynamic traffic development brought Munich Airport significantly improved financial results in fiscal year 2022. With a passenger volume of 31.6 million passengers – 19 million more than in the previous year – the airport already reached around 70% of its pre-crisis level. Revenue was almost doubled year-on-year to around €1.2 billion. Earnings before interest
Israel Aerospace Industries (IAI), Israel’s largest national military and civilian security defence company, has reported that the company’s revenues in the first quarter of 2023 (Q1 2023) totalled US$1,279 million compared with US$1,200 million in Q1 2022, an increase of US$79 million arising mainly from the increase in revenues of the Systems Missiles & Space
GE Aerospace plans to invest up to US$20 million (£16 million) to add a new test cell and equipment at the Electrical Power Integrated Systems Center (EPISCenter) in Dayton, Ohio, to meet increased demand for hybrid-electric aircraft engine component testing in coming years. NASA recently selected GE Aerospace to develop an integrated, megawatt (MW)-class hybrid
Shannon, Ireland based engine lessor, elfc, has completed the purchase of the remaining shares of INAV LLC., the Chicago-based engine parts and components company.“We are delighted to complete the final stage of this key acquisition” said Tom Barrett, President & CEO of elfc. “Since our initial investment in 2017, we have worked closely with INAV
Having exited bankruptcy protection in May 2021, the newly restructured Scandinavian low-cost carrier Norwegian Air Shuttle ASA (Norwegian) abandoned its long-haul operations and focused primarily on high-frequency domestic flights, as well as business flights to London and holiday destinations such as the Mediterranean. The carrier has just released its financial results for the first quarter
Air Canada has reported first-quarter 2023 operating revenues of CA$4.887 billion, an increase of CA$2.314 billion from the same quarter in 2022, primarily from higher passenger revenues due to increased travel demand. Compared to the first quarter of 2019, operating revenues increased about 10%. Operated capacity increased about 53% from the first quarter of 2022 (about 84% of
