Werner Aero has released that Sumitomo Corporation, through Sumitomo Corporation of Americas, has acquired 51% of the shares of Werner Aero, LLC headquartered in New Jersey, U.S.A. While demand in commercial aviation has taken a hit due to COVID-19, IATA estimates that revenue passenger-kilometres will recover to pre-pandemic levels in 2023 and growth will continue,
Mesa Air Group has reported that total operating revenues in Q3 2022 were US$134.4 million, an increase of US$9.2 million (7.4%) from US$125.2 million in Q3 2021. Contract revenue increased US$9.2 million, or 8.4%. This was due to the return to normal rates from its partners, which were temporarily reduced last year related to the PSP programme. These were partially offset
Scandinavian Airlines (SAS) has managed to avert further damaging strike action as Norwegian, Danish and Swedish members of the pilots’ unions have voted to accept a collective bargaining agreement that was reached last month. In July the loss-making Scandinavian carrier had to cancel 3,700 flights during a financially disastrous 15-day strike which is estimated to
Willis Lease Finance has reported second-quarter total revenues of US$78.1 million. For the three months ended June 30, 2022, aggregate lease rent and maintenance reserve revenues were US$60.9 million and spare parts and equipment sales were US$6.8 million. The company reported increased total revenues in the second-quarter when compared to the prior-year period, primarily due
Brussels Airlines has closed its first semester of 2022 at -€89 million, an improvement of 38% compared to the previous year. The first months of the year were still impacted by the consequences of the Omicron COVID-19 variant, while June was marked by four days of flight disruptions due to strike actions. Inflation and high
Horizon Aircraft, an innovative leader in hybrid electric vertical take-off and landing (VTOL) aerial vehicles, has entered into a binding agreement with its parent company, Astro Aerospace (Astro) and several of Astro’s key shareholders (the Purchasers) whereby Astro has agreed to sell 100% of the equity of Horizon to the Purchasers in exchange for certain
Atlas Air Worldwide, a leading global provider of outsourced aircraft and aviation operating services and parent company of Atlas Air, Inc. and Titan Aviation Holdings, Inc., has announced that it has entered into a definitive agreement to be acquired by an investor group (the Consortium) led by funds managed by affiliates of Apollo together with
Spirit AeroSystems’ revenue in the second quarter of 2022 was US$1.3 billion, up 26% from the same period of 2021. This increase was primarily due to higher production deliveries on the Boeing 737 programme as well as increased aftermarket revenue, partially offset by lower production volume on the Boeing 787 programme. Overall deliveries increased to
Bombardier has reported strong financial results for the second quarter of 2022, marked by continued steady demand for new aircraft, strong aftermarket performance, robust free cash flow generation and high backlogs. Bombardier raised its full-year guidance on free cash flow, now expected to be better than the previously communicated target and reaffirmed guidance on aircraft deliveries,
Agility, a supply chain services, infrastructure and innovation company, has finalised its acquisition of UK-based John Menzies PLC and will combine the business with its National Aviation Services (NAS) business to create a world leader in aviation services in 58 countries. Once integrated, the combined company will operate as Menzies Aviation and will be the
