Australian airline Rex has posted a full year after-tax loss of AU$46 million on a turnover of AU$319 million for full-year 2022 (FY22). Commenting on the results, Rex Executive Chairman Lim Kim Hai said, “The lingering impact of COVID-19 meant that passenger services did not start to recover until February. Prior to that, both the
Mesa Air Group has released its third-quarter fiscal 2022 financial and operating results. The Group reported total operating revenues in Q3 2022 was US$134.4 million, an increase of US$9.2 million (7.4%) from US$125.2 million for 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
CHC Group LLC (CHC) has announced that through a comprehensive US$500 million recapitalisation, subject to regulatory approvals, it will now be able to significantly reduce its funded debt obligations. The global rotary wing aviation company specialises in providing transportation services to offshore oil and gas platforms, civilian search and rescue and air medical evacuation services
BOC Aviation has reported that total revenues and other income in the first half of 2022 increased 8% to US$1,196 million compared with the first half of 2021. Operating cash flow net of interest increased 29% to US$717 million compared with the first half of 2021. The company posted a net loss after tax of
Scandinavian Airlines (SAS) has confirmed that it has entered into an agreement with Apollo Global Management to raise US$700 million which it hopes will enable the stricken carrier to complete its restructuring process under Chapter 11 bankruptcy protection in the U.S. The news comes hot on the heels of an announcement that Norwegian, Danish and
CAE has reported revenue of CA$933.3 million for the first quarter of fiscal 2023, compared to CA$752.7 million in the first quarter last year. First-quarter net income attributable to equity holders was CA$1.7 million compared to CA$46.4 million last year. Adjusted net income in the first quarter of fiscal 2023 was CA$17.6 million compared to CA$55.6 million
HEICO Corporation has released that its Electronic Technologies Group has acquired all of the stock of Sensor Systems, Inc. (Sensor) for a combination of cash and approximately 575,000 HEICO Class A Common Shares. Further financial details were not disclosed. HEICO stated that it expects the acquisition to be accretive to its earnings in the year
Archer Aviation (Archer) has announced that further to United Airline’s agreement to buy up to 200 of its electric vertical take-off and landing (eVTOL) aircraft, the airline has made an advance payment of US$10 million (£8.25 million) as a pre-delivery deposit on 100 of the planes. Archer recently completed its production aircraft’s Preliminary Design Review
Astronics Corporation, a leading supplier of advanced technologies and products to the global aerospace, defence and other mission-critical industries, has reported financial results for the three- and six-month periods ended July 2, 2022. Consolidated sales were up US$18.0 million from the second quarter of 2021. Aerospace sales were up US$20.1 million, or 22.5%, while Test
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,
