Low-cost carrier Norwegian has released its first-quarter results of 2022 in what is a seasonally weakened quarter. Combined with the impact of the Omicron variant of the COVID-19 virus and the effects of the war in Ukraine on the aviation industry the result was an operating loss (EBIT) of NOK849 million, though the company was
Israel Aerospace Industries (IAI) has signed an agreement to carry out passenger-to-freighter (P2F) conversions for Cargojet Canada’s Cargo Airline. The agreement was signed as a result of the growing global demand for cargo aircraft and includes the conversion of four B777-300ER aircraft and additional options in the future. IAI has recently signed a number of new
The European Union Air Safety Agency (EASA) in conjunction with the European Centre for Disease Prevention and Control (ECDC) have issued new guidelines relating to health safety measures for airline passengers in relation to the transmission of the COVID-19 virus. From May 16, it will no longer be mandatory to wear a medical-grade face mask
China Eastern Airlines, China’s second-largest carrier by passenger numbers has announced in a filing to the Shanghai Stock Exchange that it is looking to raise US$2.23 billion through a share sale. The revenue raised will be divided between asset acquisitions and increasing working capital. Approximately US$1.78 billion will be used to fund the acquisition of
Nordic Aviation Capital (NAC), the regional aircraft leasing company, will become a launch lessor of Embraer’s E-Jet passenger-to-freighter (P2F) conversion. NAC and Embraer have reached an agreement in principle to take up to ten conversion slots for E190F/E195F aircraft, with first deliveries starting in 2024. Aircraft for conversion will come from NAC’s existing E190/E195 fleet.
IAG, parent company to BA, Vueling, Iberia and Aer Lingus, has decided to cut back on an anticipated summer ramp-up in short-haul flights owing to staffing problems. As a result of the Omicron variant of the COVID-19 virus which has led to flight crew shortages, together with a general lack of ground staff, plus IT
Despite a slow start to the year due to the Omicron variant of the COVID-19 pandemic, Lufthansa saw a noticeable increase in customer demand, particularly in March, for both holiday travel and also the business travel segment. Compared to the previous year, the Group more than doubled revenue to €5.4 billion (1Q 2021: €2.6 billion).
After its Supervisory Board meeting on Wednesday, May 4, MTU Aero Engines AG (MTU) has announced that its CEO, Reiner Winkler, will be stepping down and leaving the company, for personal reasons, at the end of the year. “After more than twenty years in the management board of MTU, I now see the time has
Irish lessor Avolon, which has ten leased jets still trapped in Russia, has recorded a first-quarter US$304 million impairment to cover the full financial impact. “While we continue to make every effort to recover these assets, we are recognising the full impairment this quarter, putting the financial impact of Russian sanctions firmly behind us,” Avolon’s
Spirit Airlines (Spirit) has rejected an offer of US$3.6 billion, US$33.00 per share, made by ultra-low-cost carrier JetBlue at the beginning of April this year. This offer is appreciably higher than the US$2.9 billon, then worth US$25.83 per share, cash and stock offer from Frontier Airlines (Frontier), announced in February this year. Spirit has chosen
