The Latvian national airline airBaltic has started the year 2023 with positive business indicators. airBaltic has achieved €104.3 million revenue, which is 74% more than in 2022, as well as the highest-ever recorded revenue in the first quarter of a year in the airline’s history. At the same time, the carried passenger number was 77% above the first quarter
Deutsche Lufthansa AG (Lufthansa) has signed an agreement with private equity group AURELIUS for the sale of the remaining LSG Group business. The European LSG Sky Chefs activities had already been sold in 2019 to gategroup. “We are pleased to have found the right investor for the LSG Group going forward that also has the full support
Shift5, the onboard data company, has announced its partnership with JetBlue to bring cybersecurity and data observability of onboard avionics to commercial aircraft. The company also welcomes JetBlue Ventures as an investor in its Series B round of funding, which was led by Insight Partners with participation from The Boeing Company and AE Industrial Partners’
The Australian sustainable aviation fuel (SAF) industry has received a massive boost with a major joint investment. A Queensland biofuel refinery being jointly developed by Jet Zero Australia and LanzaJet is to receive investment from Qantas Group, Airbus, and the Queensland Government. The refinery is looking to produce SAF from agricultural by-products, including sugar cane.
ORIX Aviation has confirmed the 100% acquisition of an aircraft portfolio, consisting of 14 narrow-body aircraft with ten lessees across multiple continents, from Merx Aviation. The aircraft were previously held in a joint venture between ORIX Aviation and Merx Aviation, which commenced in 2017 with 35 aircraft valued at US$1billion. After trading activity, the portfolio
Ascendance Flight Technologies, a start-up dedicated to sustainable aviation, has raised €21 million (£18.4 million). These new funds give Ascendance Flight Technologies the resources to fly its full-scale prototype, begin certification and scale-up actions for its first aircraft and help its first clients and partners to reduce the carbon emissions of their aircraft thanks to
Bombardier has updated its 2025 objectives. The company is now targeting more than US$9 billion in annual revenue by 2025, with an adjusted EBITDA of more than US$1,625 million and a healthy adjusted EBITDA margin of approximately 18%. Bombardier also expects to generate significant free cash flow in the coming years, to the tune of more than US$900
AAR CORP. has posted third-quarter fiscal year 2023 consolidated sales of US$521.1 million and income from continuing operations of US$21.8 million. For the third quarter of the prior year, the company reported sales of US$452.2 million and income from continuing operations of US$22.6 million. Adjusted diluted earnings per share from continuing operations in the third
Chicago-headquartered AAR CORP. (AAR) has announced its acquisition of Trax Corp. (trax), a leading independent provider of aircraft MRO and fleet management software to accelerate its digital solutions strategy. AAR is a global aerospace and defence aftermarket solutions company with operations in over 20 countries. It supports commercial and government customers through two operating segments:
Atlas Air Worldwide (Atlas) a leading global provider of outsourced aircraft and aviation operating services, has released that the investor group led by funds managed by affiliates of Apollo, together with investment affiliates of J.F. Lehman & Company and Hill City Capital, has completed its previously announced acquisition of the company. The company will continue
