Air France KLM has repaid €300 million of outstanding French State perpetual bonds, exceeding the 75% COVID-19 recapitalisation aid redemption threshold. In April 2021, Air France-KLM and the French State agreed to convert the direct French State loan of €3 billion, granted by the French State to Air France-KLM in late May 2020, into perpetual
Richard Branson’s Virgin Orbit has temporarily put all operations on hold while the company looks to secure additional funding. The move follows on from the failed first launch of its satellite mission from UK soil back in January. In a statement, the company confirmed: “Virgin Orbit is initiating a company-wide operational pause, effective (from) March
London Gatwick Airport has published its financial results for 2022, and recognising the urgent need to make net-zero a reality has accelerated its commitment to be net- zero for its own Scope 1 and 2 carbon emissions by 2030, ten years ahead of its previous commitment. This commitment is aligned with both VINCI Airports’ environmental action
Willis Lease Finance Corporation has posted annual total revenues of US$311.9 million and pre-tax income of US$9.8 million. For the year ended December 31, 2022, aggregate lease rent and maintenance reserve revenues were US$246.0 million and spare parts and equipment sales were US$27.0 million. The company reportedincreased total revenues in the fourth quarter when compared
U.S. carrier United Airlines (United) is to invest US$5 million from its newly formed UAV Sustainable Flight FundSM. The investment is in the algae biofuel company Viridos. The US$5 million investment will support the production of sustainable aviation fuel (SAF) made from oil extracted from algae. Viridos specialises in the bioengineering of microalgae and its
Nordic Aviation Capital (NAC) has reported its annual financials for 2022. Highlights of the report show US$2.8 billion of net income. Restructuring its financial liabilities led to a US$3.1billion gain which was offset by US$227 million of impairments of which a significant portion was attributed to the relinquishment of control of assets that remain in
Embraer has posted consolidated revenue of US$4.5 billion in 2022 representing an increase of 8.2% y-o-y. On a q-o-q comparison, revenues increased by 53%. The company’s total revenue closed the year within the guidance range of US$4.5 – 5.0 billion. EBIT AND ADJUSTED EBIT Excluding special items, 4Q22 Adjusted EBIT was US$166.2 million and the
Embraer has closed a US$ 200 million (£167 million) credit facility to finance purchases from direct suppliers in the United States. This financing is being provided by Citibank and guaranteed by the Export-Import Bank of the United States (EXIM), the country’s official export credit agency. This credit facility with EXIM and Citibank will support Embraer’s
BOC Aviation has posted a net profit after tax (NPAT) for the full year 2022 of US$20 million, as a strong second-half performance offset the first-half write down of the value of aircraft formerly leased to airlines in Russia. Its core NPAT and core earnings per share of US$527 million and US$0.76, respectively, when adjusted to
The United States Department of Justice (DOJ) has filed an antitrust lawsuit in federal court in Boston to block JetBlue and Spirit’s US$3.8bn merger deal. It has also withheld the necessary certification required for JetBlue Airways Corp (JetBlue) and Spirit Airlines Inc (Spirit) to combine operations. The basis of the antitrust suit is that the
