Five days after UK regional carrier Flybe filed for bankruptcy, Norwegian domestic carrier Flyr has been forced to go down the same route after failing to raise only half of the needed cash to see it through the winter season and enable it to prepare for spring demand. “There is no longer a realistic opportunity
Embedded Ventures, an early-stage deep tech venture capital firm, has announced the first closing of its US$100 million (£81 million) inaugural fund. The minority-led firm takes a commercial-first approach to investing in early-stage start-ups with applications that can serve the Department of Defence, focusing on cutting-edge start-ups in Digital Engineering, Advanced Manufacturing and Space Operations.
Global Crossing Airlines Group (GlobalX) has secured an up-to US$5.0 million loan with a key long-term investor to provide working capital and additional liquidity to support GlobalX’s rapidly growing operations. “GlobalX is fortunate to have a committed group of investors who continue to fund and support the expansion of our operating fleet. We took possession
Regional Express, Rex, has reported that its unaudited management accounts for December have continued to show profitability for its domestic Boeing 737 jet operations, reporting a profit before tax (PBT) of AU$4.0 million improving from the AU$1.9 million in October and AU$2.8 million in November. This makes the fourth consecutive month that the domestic jet
Embraer has announced an initial investment in the MSW MultiCorp 2 of R$20 million (around US$4 illion/£3.2 million), to attract and boost innovative Brazilian start-ups that synergize with the company’s innovation strategy. Embraer has strengthened its role in promoting entrepreneurship in the Brazilian ecosystem, not only by making investments but creating partnerships with entrepreneurs interested
Ryanair has reported that third-quarter scheduled revenue increased almost 85% to €1.45 billion due to strong travel demand at higher fares (+14% over pre-COVID), especially during the October mid-term and the peak Christmas/New Year holiday season. Ancillary revenue delivered another solid performance, generating over €22.50 per passenger. Total third-quarter revenue rose 57% to €2.31 billion
Alaska Air Group (Alaska) has posted financial results for the fourth quarter and full year ended December 31, 2022. Alaska reported net income for the fourth quarter and full year 2022 under Generally Accepted Accounting Principles (GAAP) of US$22 million and US$58 million respectively. These results compare to net income for the fourth quarter and
AAR CORP. a leading provider of aviation services to commercial and government operators, MROs, and OEMs, hosted Illinois Governor JB Pritzker, leaders from Rock Valley College and local officials and partners at its Rockford, Illinois, MRO facility on January 26. Governor Pritzker announced a US$2.6 million investment by the State of Illinois to support and
American Airlines Group (American) has released its fourth-quarter and full-year 2022 financial results. The company reported fourth-quarter and full-year net income of US$803 million and US$127 million respectively. Excluding net special items, fourth-quarter and full-year net income was US$827 million and US$328 million respectively. American recorded fourth-quarter revenue of US$13.2 billion, which represents a 16.6%
Having reported a net loss of US$4.3 billion in 2021, Boeing Co. has reported a net loss of US$5.0 billion for 2022. Operational losses have been reported at US$3.5 billion, up from US$2.9 billion in 2021. The American planemaker generated US$3.1 billion in free cash flow in the final quarter of 2022. It had forecast
