Air New Zealand has announced a loss before other significant items and taxation of NZ$440 million for the 2021 financial year and a net loss of NZ$289 million – its first full 12-month period of operation with COVID-19-related international travel restrictions. Using the same metric, the company reported an NZ$87 million loss for the 2020 financial year.
Storm Aviation Limited (SAL), a global provider of line and base maintenance and aviation training services, has acquired Manchester-based Chevron Technical Services (CTS), and its Prestwick-based subsidiary Chevron Aircraft Maintenance (CAM) providing aerospace solutions to the aircraft maintenance industry. SAL, a subsidiary of FL Technics, which is part of Avia Solutions Group (ASG), will create
The Qantas Group has posted a substantial full-year loss as a result of the COVID crisis. Total revenue loss from COVID reached AU$16 billion as the full-year impact of minimal international travel and multiple waves of domestic border restrictions continued to hit travel demand. The Group’s underlying PBT loss was AU$1.83 billion. The statutory loss
Through its parent company Vieco U.S.A., Inc Virgin Orbit, the responsive launch and space solutions company, and NextGen Acquisition Corp. ll (NextGen), a special acquisition company, have announced they have entered into a definitive merger agreement by which Virgin Orbit will become a publicly traded company. Expected to close in the fourth quarter of this
AeroCentury, an independent aircraft leasing company, has reported a second-quarter 2021 net loss of US$3.2 million, compared to a net loss of US$13.5 million for the second quarter of 2020. Revenues and other income decreased by 66% to US$1.5 million in the second quarter of 2021 from US$4.4 million in the second quarter of 2020.
Britain has confirmed that it may well investigate possible national security risks that may result from the intended sale of Ultra Electronics (Ultra) for £2.6 billion (US$3.6 billion) to Cobham, a rival company which is owned by U.S. private equity firm, Advent. Ultra, which provides customers with torpedo and radar systems, plus additional defense communication
The Republic of Latvia, the majority stakeholder in its flag-carrying airline airBaltic, has agreed to invest €90 million equity into the struggling carrier. The investment has been approved by the Cabinet of Ministers of the Republic of Latvia and will now be subject to the approval of the European Commission. Martin Gauss, Chief Executive Officer
Israel Aerospace Industries’ (IAI) sales in H1 2021 grew to approx. US$2,164 million compared with approx. US$2,078 million in the first half of 2020, an increase of 4.1%. The growth is primarily due to the increased sales in the Systems Missiles & Space Group, partly offset by reduced sales in the Aviation Group. The Military
The German government has announced its intention to immediately sell of 25% of its stake in Lufthansa, the country’s flag-carrying airline, with the intention of divesting itself of the total investment by 2023. The original €300 million investment came from Germany’s Economic Stabilization Fund (WSF) which was set up in March 2020 to aid struggling
Embraer, the Brazilian manufacturer of military and business jets, has restored its guidance after returning to profit in the second quarter of 2021. Additionally, the company anticipates delivery of between 45 and 50 aircraft plus the handing over of between 90 and 95 business jets. Consolidated revenue is estimated to lie between US$4 billion and
