For the first quarter 2023, Spirit Airlines (Spirit) reported a net loss of US$103.9 million. Excluding special items, adjusted net loss for the first quarter 2023 was US$89.4 million. Spirit reported a pre-tax loss of US$141.6 million and a pre-tax margin of negative 10.5%. Adjusted pre-tax loss for the first quarter was US$120.6 million and
For the first quarter of 2023 (Q1 2023) Safran has reported narrow-body ASKs were at 100% (on average) of 2019. Q1 2023 revenue increased 29.4% to €5,266 million compared to Q1 2022. Growth was mainly fuelled by Propulsion and Aircraft Interiors activities. The change in scope was €15 million. Currency impact of €175 million reflects
Falko Regional Aircraft Limited (Falko), a market leading aircraft operating leasing and asset management company focused on the regional aircraft sector, has closed a CA$388.2 million (£228.4 million) Term Loan financing in February 2023. The facility is secured by a portfolio of up to 41 aircraft owned by the Falko Regional Aircraft Opportunities Fund II.
MTU Aero Engines has released that it has acquired eMoSys GmbH, an electric motor developer and small-volume manufacturer based in Starnberg, Germany. The acquisition will help MTU consistently expand its know-how and its activities relating to electrification of the power train. “Our Flying Fuel Cell requires highly efficient, absolutely reliable electric motors and the eMoSys
Aerospace Rotables has announced an additional US$2 million (£1.6 million) investment in state-of-the-art machinery for partnership landing gear MRO operations with SEMAN. The announcement was made at Aviation Week Network’s MRO Americas. This investment includes fully automated ID & OD grinding machines, boring mills, and expanded plating areas which will increase production capacity by more
As part of its plan to adapt to the changing landscape of the aircraft leasing market, LCI, an aircraft leasing group, has agreed to sell a 35% stake in the business to Japan’s Sumitomo Mitsui Finance and Leasing Company (SMFL). The agreement was announced at the end of March by Libra Group, the parent company
TrueNoord has successfully closed a new five-year Term Loan of US$275 million (£220 million). The facility will be used by the specialist regional aircraft lessor to expand its existing group of aircraft assets and to finance a well-diversified portfolio of 31 owned regional jet and turboprop aircraft currently on lease to 13 different airline customers
HALO AirFinance (HALO), a joint venture between GA Telesis (GAT) and Tokyo Century Corporation (TC), has closed a credit facility for Republic Airways, a US regional airline, to finance a portfolio of General Electric CF34-8E engines. This is the inaugural transaction executed under HALO’s first fund HALO One, which was launched last month in partnership
Regional Express (Rex) has taken a 20% stake in Dovetail Electric Aviation, further cementing the strategic partnership between the two Australian companies. This equity participation agreement comes on the heels of the successful completion of initial ground tests involving Dovetail’s small-scale Electric Propulsion System (EPS), marking a major milestone in the company’s mission to convert
Manhattan, US District Judge Lewis Linman has awarded aircraft lessor BOC Aviation Limited (BOC Aviation) the sum of US$406.2 million in relation to three leases that Russia’s largest cargo carrier, AirBridgeCargo Airlines (AirBridgeCargo) and its parent company Volga-Dnepr Logistics BV has defaulted on following Russia’s invasion of neighbouring Ukraine, according to REUTERS news agency. The
