JetBlue Airways and Spirit Airlines have announced that their Boards of Directors have approved a definitive merger agreement under which JetBlue will acquire Spirit for US$33.50 per share in cash, including a prepayment of US$2.50 per share in cash payable upon Spirit stockholders’ approval of the transaction and a ticking fee of US$0.10 per month
Boeing has reported second-quarter revenues of US$16.7 billion, driven by lower defence volume and unfavourable performance, partially offset by higher commercial volume. Boeing recorded positive operating cash flow of US$0.1 billion. Commercial Airplanes second-quarter revenue increased to US$6.2 billion, driven by higher 737 deliveries, partially offset by lower 787 deliveries. Operating margin of (3.9)% also reflects
Airbus has reported consolidated financial results for the half-year ended June 30, 2022. Gross commercial aircraft orders increased to 442 (H1 2021: 165 aircraft) with net orders of 259 aircraft after cancellations (H1 2021: 38 aircraft). The order backlog amounted to 7,046 commercial aircraft on June 30, 2022. Airbus Helicopters booked 163 net orders (H1
American Airlines Group has released its second-quarter 2022 financial results. American produced revenues of US$13.4 billion in the second quarter, a 12.2% increase versus 2019 and a record for any quarter in company history. This record revenue was achieved while flying 8.5% less capacity than the same period in 2019 and there remains significant revenue
Satair, an Airbus Services company and VAS Aero Services, a leader in aviation logistics and aftermarket services including end-of-life support, have signed an agreement under which Satair acquires VAS Aero Services, through its U.S. subsidiary, Satair U.S.A., Inc. VAS will continue as a separate enterprise, with operational sites and offices in Boca Raton (FL), Kent
Rex has signed a sale-and-purchase agreement which will result in its subsidiary, Rex Freight and Charter (RFC), acquiring 100% of National Jet Express (NJE), the regional services arm of Cobham Aviation Services Australia (Cobham). NJE is a leading provider of Fly-In Fly-Out (FIFO) services in Western and South Australia. In addition, it operates freight services
Delta Air Lines (Delta) has reported financial results for the June quarter 2022. Delta reported operating revenue of US$13.8 billion and operating income of US$1.5 billion with an operating margin of 11%. Operating cash flow was US$2.5 billion at the end of the quarter with total debt and finance lease obligations of US$24.8 billion. Delta’s
Air France-KLM and Apollo Global Management have announced the signing of a definitive agreement for Apollo-managed funds and entities to make a €500 million (£423.7 million) investment into an ad hoc operating affiliate of Air France that will own a pool of spare engines dedicated to the airline’s engineering and maintenance activities. Under this agreement,
The ongoing bidding war for Spirit Airlines Inc. (Spirit) between Frontier Group Holdings Inc (Frontier) and JetBlue Airways seems to be drawing to a close as Frontier has announced that it will not be increasing its offer of US$4.13 per share and 1.9126 Frontier shares in its cash and stock offer. In addition, if the
Owned by a consortium which includes Japan’s Sumitomo Corp and Sumitomo Mitsui Financial Group, Ireland based aircraft lessor SMBC Aviation Capital (SMBC) has recorded a US$3.6 billion impairment over 34 jets that became stranded in Russia after sanctions were put in place following the country’s invasion of Ukraine that basically saw all leases terminated. According
