MTU Aero Engines AG has sold Vericor Power Systems. This marine and industrial gas turbine (IGT) OEM based in Alpharetta, Georgia, U.S.A., is being acquired by U.S. private equity company CSL Capital Management of Houston, Texas, which focuses on the energy sector. The agreement was signed in early June 2021 and the transaction was closed
JetBlue Technology Ventures (JTV), the corporate venture capital subsidiary of JetBlue Airways, has announced that its portfolio company Joby Aviation (Joby) has completed its merger with Reinvent Technology Partners (Reinvent), a special-purpose acquisition company. The combined company is now listed on the New York Stock Exchange (NYSE) for public trading under the ticker symbols “JOBY”
Complete Aircraft Group (CAG), a leading U.K. independent specialist provider of quality aviation solutions, including the supply of aircraft tooling, parts, and components to airlines worldwide, has announced the acquisition of established business aviation MRO Part 145 provider Aerocare Aviation Services Limited (AASL). The AASL team has been operating for over three decades, providing maintenance,
As a result of the coronavirus pandemic and its ongoing and unprecedented impact on the aviation sector, Brussels Airlines has reported a negative EBIT of €-143 million in the first semester of 2021. The non-essential travel ban in the first-quarter and continuous travel restrictions severely impacted the airline’s passenger numbers. First half-year revenues fell 45%
Willis Lease Finance Corporation has reported second-quarter total revenues of US$66.5 million and a pre-tax loss of US$1.9 million. For the three months ended June 30, 2021, aggregate lease rent and maintenance reserve revenues were US$49.7 million and spare parts and equipment sales were US$3.6 million. The company reported lower revenue in the second quarter
Rolls-Royce Group’s underlying revenue from continuing operations for the first half year of 2021 was £5.2 billion, down 2%, which reflected a more balanced contribution from the business units compared with the same prior-year period. It included a positive £160 million Civil Aerospace LTSA revenue catch-up compared with a £(866) million negative revenue catch-up in
Spirit AeroSystems second quarter of 2021 revenue was US$1.0 billion, up 55% from the same period in 2020, primarily due to higher production deliveries on the Boeing 737 and Airbus A320 programs and increased revenue from the recently acquired A220 wing and Bombardier programs. These increases were partially offset by the lower wide-body production rates
Canadian business jet manufacturer Bombardier has released its financial results for the second quarter of 2021 and on the back of a strong first half year, has raised its full-year guidance. Aircraft deliveries, revenue, profitability, and cash use should all now outperform previously given targets. Business jet revenues during the second quarter of 2021 climbed
Dubai Aerospace Enterprise (DAE) has released its financial results for the six months ended June 30, 2021. DAE reported total revenue of US$613.4 million compared to the US$675.9 million in the first six months of 2020 and adjusted profit before tax of US$67.3 million compared to US$131.9 million the previous year. The company’s operating cash flow amounted to
Atlas Air Worldwide Holdings has reported second-quarter 2021 net income of US$107.1 million, compared to net income of US$78.9 million in the second quarter of 2020. On an adjusted basis, EBITDA totaled US$243.7 million in the second quarter this year compared to US$247.0 million in the second quarter of 2020. Adjusted net income in the
