Finnair’s Board of Directors has announced that it has approved Finnair’s long-term incentive plans. The plans support the implementation of Finnair’s strategy to restore its profitability and the performance criteria for the plans in Finnair EBIT margin. The target levels for the improved EBIT margin during 2023–2025 are the same for all personnel groups. The
Astronics Corporation, a leading provider of advanced technologies for global aerospace, defence and other mission-critical industries, has reported preliminary revenue and orders and announced the completion of the refinancing of its debt. The company reported that unaudited preliminary fourth-quarter sales are expected to be in the range of US$155 million to US$160 million, exceeding the
Deutsche Lufthansa AG (Lufthansa) is looking to initially acquire a minority stake in Italian carrier ITA Airways (Italia Trasporto Aereo S.p.A.) with an option to purchase any remaining shares at a later stage. Lufthansa has submitted an offer to the Italian Ministry of Economy and Finance (Ministero dell’economia e delle finanze) to conclude a Memorandum
United Airlines (United) has reported fourth-quarter and full-year 2022 financial results. The company exceeded adjusted operating margin guidance in the fourth quarter reporting an 11.1% operating margin; an 11.2% operating margin on an adjusted basis. Additionally, the company reported a 9.1% pre-tax margin on a GAAP basis and 9.0% on an adjusted basis, achieving its 2023
Minneapolis, Minnesota-based global investment firm Castlelake is providing financing through its aviation lending programme to United Airlines secured on four 2020-vintage 787-9 Dreamliners with a value in excess of US$540 million. “We are pleased to partner with United, one of the world’s largest airlines, to provide them with tailored financing solutions to support their global
SAS AB has reached agreements with two additional lessors, Air Lease Corporation and Jackson Square Aviation, representing 13 aircraft in the aggregate, to amend the terms of existing aircraft and equipment lease agreements. With these agreements, SAS concludes its lessor negotiations as part of the chapter 11 process. In total, SAS has reached agreements with
KKR, a leading global investment firm, and Altavair L.P., a leader in commercial aviation finance, have announced that KKR is making an additional US$1.15 billion commitment to expand its global portfolio of leased commercial aircraft in partnership with Altavair. The investment will come from KKR’s credit and infrastructure funds. KKR has deployed and committed US$1.7
Regional Express, Rex, has released that its unaudited management accounts for November have shown a further increase in profitability for its domestic Boeing 737 jet operations, with the profit before tax (PBT) improving from about AU$2 million to AU$2.8 million. This makes November the third consecutive month that the domestic jet operations have been overall
Ryanair Holdings has reported that it expects to report a stronger-than-expected third-quarter (Q3, (end December 31) PAT of close to €200 million. Strong pent-up travel demand over the holiday season for the first time in three years, with no adverse impact from COVID or the war in Ukraine, stimulated stronger-than-expected peak Christmas/New Year traffic and
In December 2022 Lima Airport Partners (LAP), part of the Fraport Group since 2001, signed a US$1,250 million project financing agreement for the infrastructure development in progress at Lima’s Jorge Chávez International Airport (LIM) in Peru. The financing is being provided by seven banks: BBVA, IDB Invest, KfW IPEX Bank, Mitsubishi UFJ Financial Group (MUFG),
