Avolon, the international aircraft leasing company, has posted results for the third quarter of 2022. The company reported net income for the three months to September 30, 2022, of US$141 million and US$227 million for the nine months to September 30, 2022 (excluding the impact of Russia). Avolon recognised US$546 million of lease revenue and
Fraport and Lufthansa have formed a new joint venture called “FraAlliance”. Each company holds a 50% share in the new venture. The two companies intend to use FraAlliance to strengthen their existing cooperation on strategic and operational matters at Frankfurt Airport and thus, plan to deepen their long-standing partnership in relation to enhancing services at
Spirit Airlines (Spirit) has released that its stockholders have approved the merger agreement with JetBlue Airways Corporation (JetBlue). Based on the preliminary voting results provided by the independent inspector of election at the special meeting of stockholders held on October 19, more than 50% of the outstanding shares of Spirit common stock voted in favour
Wencor Group (Wencor), a leading solutions provider to the aerospace aftermarket, defence and OEM markets, has announced the acquisition of Aviatron, Inc. (Aviatron), a certified 145 repair station specialising in pneumatic component repair and maintenance while utilising its unique Designated Engineering Representative (DER) repair and Parts Manufacturer Approval (PMA) capabilities. “We are excited to welcome
Subsequent to obtaining a settlement with debtors in May and shareholder approval after the New York Southern District Court approved LATAM Airlines plans in June to exit Chapter 11 bankruptcy proceedings, the South American Group has confirmed it now has all financing in place to be able to exit these proceedings in the first week
The Brazilian Development Bank (BNDES) has confirmed its approval of R$670 million in financing for the export of six Embraer E175 commercial jets to North America’s SkyWest Airlines (SkyWest). Delivery will take place by the end of this year. The financing will be through BNDES Exim Post-shipment, with disbursements made in reais in Brazil in
American Airlines has released that it made a strategic equity investment in Universal Hydrogen Co., a company building a green hydrogen distribution and logistics network for aviation. The investment supports American’s science-based targets to reduce greenhouse gas (GHG) emissions by 2035, and ultimately its commitment to achieve net-zero GHG emissions by 2050. This investment makes American the
The UK’s regional carrier Loganair, based in Paisley, Scotland, is to be sold. During a difficult period for the airline industry, the company has been quick to point out that the sale has come about solely for personal reasons of the owners, Stephen and Peter Bond, and not for fiscal reasons. Loganair is currently “performing
In a unique joint-venture, Canadian Airline WestJet, currently headquartered in Calgary, has entered into an historic partnership with the Government of Alberta for aviation growth across the province. WestJet will now designate Calgary as its global connecting hub and all 787 Dreamliner intercontinental flights will be concentrated at Calgary. The intention is for Alberta to
Private equity firm GenNx360 Capital Partners (GenNx360) has released that Aero 3, Inc., the parent company of AeroRepair, has acquired Aircrafters, Inc. Headquartered in New Castle, Delaware, Aircrafters is a leading provider of wheel and brake parts for the aviation industry through its aftermarket distribution of Collins wheel and brake parts, its extensive parts inventory,
