The Emirates Group has released its 2022-23 Annual Report, reporting its most profitable year ever on the back of strong demand across its businesses. Emirates achieved new record profits, a complete turnaround from its loss position last year. Both, Emirates and dnata (one of the world’s largest air services providers) saw significant revenue increases in 2022-23
On Wednesday, May 10, bankruptcy protection was granted to Go Airlines (India) Ltd by an Indian tribunal. This move aims to assist the country’s fourth-largest carrier in reviving itself, but it may create challenges for foreign lessors seeking to repossess their planes. Go Airlines, which was recently renamed Go First, is a low-cost carrier that
Chorus Aviation has posted net income of CA$320 million for the first quarter of 2023, an increase of CA$9.1 million compared to the previous year. Chorus Aviation reported Adjusted EBITDA of CA$118.1 million, an increase of CA$34.8 million over the first quarter of 2022. The RAL segment’s Adjusted EBITDA was CA$61.6 million, a quarter-over-quarter increase
Air France-KLM has confirmed it has been in discussions with Apollo Global Management (Apollo), the private equity firm, for a second capital injection of €500 million, this time for one of its engineering maintenance units. According to the European carrier, the money will be allocated for general corporate purposes and that no workforce-related changes would
Embraer and the Financiadora de Estudos e Projetos (Finep), which promotes Brazil’s economic and social development through public funding for Science, Technology and Innovation, have signed an agreement for the development of platforms to demonstrate new aeronautical technologies. The formalisation of the partnership focused on sharing the costs and risks inherent in research and development at
Fraport Group‘s revenue for Q1, 2023 has risen by 41.9% compared to Q1, 2022 thanks to ongoing traffic recovery. The Group revenue totalled €765.6 million with an operating (EBITDA) of €158.3 million, a year-on-year increase of around 100%. The Group result (net profit) rose to minus 32.6 million in the reporting period (from minus €118.2
VSE, a leading provider of aftermarket distribution and MRO services for air, land and sea transportation assets for commercial and government markets, has entered into a definitive agreement to acquire Desser Holding Company (Desser Aerospace), a global aftermarket solutions provider of specialty distribution and MRO services. The acquisition is expected to close within the next
Willis Lease Finance has reported first-quarter pre-tax earnings of US$6.8 million and total revenues of US$89.5 million. For the three months ended March 31, 2023, aggregate lease rent and maintenance reserve revenues were US$76.7 million and spare parts and equipment sales were US$5.1 million. The company reportedincreased total revenues in the first quarter when compared
Embraer has posted consolidated revenue of US$ 717 million for the first quarter of 2023 (1Q23) represented growth of 19% y-o-y due to better commercial mix, strong growth in Defence & Security (+56% y-o-y) and Services & Support (+20% y-o-y). The company’s total revenue closed the quarter as planned. Commercial Aviation reported revenue growth of
It is understood that US asset manager Apollo Global Management Inc. (Apollo) is looking to apply for approval from both Danish and Swedish regulators to acquire a majority stake in stricken carrier SAS AB (SAS) as part of its Chapter 11 bankruptcy plan. In July 2022 the Scandinavian carrier filed for Chapter 11 bankruptcy protection
