GA Telesis has announced the closing of a new five-year US$225 million ABL credit facility led by HSBC Bank USA and Fifth Third Bank, as joint lead arrangers. The syndication was met with overwhelming interest and allowed the company to improve terms while expanding its existing bank group. The facility comprises nine global, super-regional and
Boeing Co. has accepted liability for the crash of the Ethiopian Airlines 737 MAX on March 12, 2019, in which all 157 passengers and crew were killed, according to a filing in the US District Court in Chicago. In a statement Boeing admitted under the agreement “that the 737 MAX had an unsafe condition and
The SIA Group has reported financial performance for the first half of FY2021/22. Group revenue rose SG$1,193 million (+73.0%) year-on-year to SG$2,827 million, attributable to improvements in both passenger and cargo segments. Passenger flown revenue grew by SG$598 million (+385.8%) on the back of the recovery in traffic, partly offset by weaker yields. Cargo flown
In the third quarter of 2021, Chorus Aviation reported adjusted EBITDA of CA$78.1 million, a decrease of CA$7.8 million relative to the third quarter of 2020. The Regional Aircraft Leasing (RAL) segment’s adjusted EBITDA was essentially unchanged from the prior quarter due to additional aircraft earning lease revenue offset by lower lease revenue attributable to
Astronics Corporation has reported financial results for the three- and nine-months ended October 2, 2021. Consolidated sales were up US$5.3 million from the third quarter of 2020. Aerospace sales were up US$13.2 million, or 16.0%, and Test System sales decreased US$7.9 million. Total sales and volume continued to reflect the ongoing impact of the COVID-19
Former and current Boeing directors have stood by their actions in relation to overseeing safety aspects of the design and construction of the ill-fated 737 MAX twin-engine jet involved in two catastrophic and fatal crashes over a five-month period which killed a combined total of 346 passengers and crew. Despite this, they have agreed to
The International Airlines Group (AIG) has reported an operating loss for the third quarter 2021 of €452 million (2020 restated: operating loss of -€1,923 million) and operating loss before exceptional items of -€485 million (2020 restated: operating loss before exceptional items of -€1,305 million). For the nine months the Group reported an operating loss of
Embraer has delivered nine commercial jets and 21 executive jets (14 light / seven large) in the third quarter of 2021, bringing the year-to-date deliveries to 32 commercial jets and 54 executive jets (36 light /18 large). Following solid sales activity in the period across businesses, total company firm order backlog at the end of
Spirit AeroSystems’ (Spirit) third quarter of 2021 revenue was US$980.0 million, up 22% from the same period of 2020, primarily due to higher production deliveries on the Boeing 737 and increased revenue from the recently acquired A220 wing and Bombardier programmes. These increases were partially offset by the lower wide-body production rates due to reduced
IAG Cargo reported that third-quarter 2021 (Q3) revenues represent an increase of 34.4% at constant currency versus the same period last year. Overall yield for Q3 was down 2.0% at constant currency versus 2020. Sold tonnes were up 42.6%. The results come on top of IAG Cargo’s half-year revenue of €769 million and delivering total revenue
