Rex (Regional Express Holdings Limited), has posted an after-tax loss of A$16.5 million for the six months ended December 31, 2022 (1HFY23), an improvement of 55% over the prior corresponding period. This loss includes a negative impact of A$23 million related to mark-to-market valuation of the convertible note and warrant facility entered into with PAG
International Airline Group (IAG), the parent company of British Airways, Aer Lingus and Iberia, has confirmed its intention to acquire the remaining 80% of shares in Spain’s Globalia offshoot, Air Europa. Having agreed in March 2022 to grant Air Europa a €100 million loan that was convertible into a 20% stake, this latest move sees
Ohio-headquartered Flexjet, the global leader in subscription-based private aviation has announced that it has acquired Constant Aviation, which is also headquartered in Ohio. Constant Aviation is a leading provider of aircraft maintenance, repair and overhaul (MRO) services and with its acquisition, Flexjet becomes the only private aviation fleet provider which can offer such capabilities, while
Atlas Air Worldwide Holdings (Atlas Air) has reported full-year 2022 results, including net income of US$355.9 million, compared to a net income of US$493.3 million in 2021. On an adjusted basis, EBITDA totalled US$899.2 million in 2022 compared with US$1.1 billion in 2021. Adjusted net income in 2022 totalled US$418.0 million, compared to US$551.0 million
Strategic Development Fund (SDF), the investment arm of UAE’s Tawazun is investing US$3 million through its venture capital programme in Mayman Aerospace (a JetPack Aviation Corp. brand), the U.S.-based manufacturer of the innovative dual-use Speeder Air Utility Vehicle (AUV). As part of SDF’s strategy to invest in dual-use technologies serving both defence and civilian sectors,
The SIA Group has posted Group revenue for the three months to December 31, 2022, of SG$4,846 million a rise of SG$358 million (+8.0%) quarter-on-quarter. This is a record quarterly revenue for the Group. Passenger-flown revenue increased by SG$463 million (+14.0%) to SG$3,767 million as traffic grew 12.2% for the quarter, outpacing the 11.1% expansion
Sumitomo Corporation, a Fortune 500 company, has invested in Volocopter’s Series E Funding round and will also become a key strategic partner for entry into service in the Japanese market starting in 2025. Additionally, the Japan Civil Aviation Bureau (JCAB) has accepted Volocopter’s application for concurrent type certification (TC) of the VoloCity aircraft in Japan.
Air Canada has reported record fourth-quarter 2022 revenues of CA$4.062 billion which nearly doubled from the fourth quarter of 2021. Fourth- quarter operating revenues of CA$4.680 billion increased 71% from the fourth quarter of 2021. Operating loss of CA$28 million, was significantly better than the operating loss of CA$503 million in the fourth quarter of 2021. Adjusted EBITDA (earnings before
Air Lease Corporation (ALC) has posted its financial results for the year ended December 31, 2022. The company’s total revenues for the year increased by 11% to US$2.3 billion compared to the same period in 2021. The increase in total revenues was primarily driven by the continued growth in its fleet and significantly lower COVID-19-related
Despite posting a pre-tax (EBT) loss of NOK 80 million for the fourth quarter of 2022, flag-carrying airline Norwegian Air Shuttle (Norwegian) has posted NOK 1,502 million EBIT operating profit for 2022. The company also delivered an operating loss for the fourth quarter of NOK 39 million. The quarter’s loss has been put down to
