West Star Aviation has been acquired by The Sterling Group, an operationally focused middle-market private equity firm from the previous investor Norwest Equity Partners (NEP), a leading middle-market investment firm. “Sterling’s employee-focused approach to its business partnerships and its expertise in the general aviation space makes it the perfect fit for West Star,” said Jim
Etihad Airways has reported its business results for 2021, recording a strong recovery in passenger operations along with a significant improvement in financial performance, posting a much-reduced loss of US$476 million for 2021 (2020: US$1.70 billion). The airline carried 3.5 million passengers in 2021, with an average seat load factor of 39.6%. Passenger loads doubled
Sabre Corporation, a leading software and technology provider that powers the global travel industry, has successfully closed the previously announced agreement to sell its AirCentre airline operations portfolio to CAE, a technology leader in digital flight and crew operations. The transaction, valued at US$392.5 million (£293 million), includes the Sabre AirCentre product portfolio, related technology
IAG Cargo, the cargo division of IAG (International Airlines Group) has reported record financial results for 2021, with annual revenues of €1,673 million for the period from January 1 to December 31, 2021. The results reflect the surging demand for air cargo capacity as global trade rebounds. The 2021 revenues represent an increase of 30%
The Board of Nasmyth Group, the provider of specialist precision engineering services to the aerospace, defence and related industries has completed a comprehensive recapitalisation that will give the business the stable foundation it needs to drive ingenuity and continue to serve the needs of its customers around the world. Under the terms of the recapitalisation Rcapital,
SIA Engineering Group revenue for the third quarter of FY2021-22 increased 33.8% year-on-year to SG$140.0 million. The increase was largely driven by increase in transit handling-related revenue due to the higher number of flights handled. Expenditure increased at a higher rate of 42.8% to SG$147.8 million, mainly due to reduction in government wage support. Excluding
Airbus, Safran and Tikehau Ace Capital have signed a Memorandum of Understanding with the mining and metallurgical group Eramet for the acquisition of its subsidiary Aubert & Duval. The three partners intend to acquire 100% of Aubert & Duval through a new joint holding company that would be specifically set up for this transaction and
Norwegian Air (Norwegian) has reported its fourth-quarter 2021 and preliminary full-year 2021 financial results, revealing a pre-tax (EBT) profit of NOK 117 million for the fourth quarter compared to a loss of NOK 16.6 billion for the fourth quarter of 2020. In the fourth quarter of 2021, 3.1 million passengers travelled with Norwegian, up from
Air Canada has reported its fourth-quarter and full-year 2021 financial results. The company reported fourth-quarter 2021 operating revenues of CA$2.731 billion, 30% higher than in the third quarter of 2021 and over three-times fourth-quarter 2020 operating revenues. Fourth-quarter 2021 operating loss of CA$503 million compared to an operating loss of CA$1.003 billion in the fourth-quarter
Finnair and the State of Finland have signed an agreement on a hybrid loan of maximum €400 million to support Finnair. The decision was made by the Plenary Session of the Government on February 18, 2021. The arrangement has the approval of the EU Commission’s competition authority in line with the European Union’s state aid
