Air Canada has reported a net loss for the 2020 fiscal year of CA$4.65 billion, or CA$16.47 per diluted share compared to a net income of CA$1.45 billion, or CA$5.44 per diluted share, in 2019, also reporting a net loss of CA$1.16 billion, or $3.91 per diluted share, in the fourth quarter ending Dec. 31,
Bombardier is to continue its transition from plane and trainmaker to solely a business jet manufacturer as it looks to lay off 1,600 of its staff. The majority, 800, will be mostly those based in Quebec, though some 250 in Wichita are also likely to go as operations on the poorly performing Learjet are to
United Airlines has completed an agreement to work with air mobility company Archer as part of the airline’s broader effort to invest in emerging technologies that decarbonize air travel. Rather than relying on traditional combustion engines, Archer’s electric vertical takeoff and landing (eVTOL) aircraft are designed to use electric motors and have the potential for
British Airways (BA) has announced that it is to start introducing blended fuel into its transatlantic flights from 2022. BA will be investing in a new Georgia-based LanzaJet U.S. plant which will produce sustainable aviation fuel (SAF) at a commercial-scale volume, which will be made from ethanol which has been derived from agricultural and other
On Monday, February 8, the Irish Strategic Investment Fund (ISIF) released details of its commercial investments in COVID-19 pandemic-hit businesses, which includes a three-year, €150 million loan to IAG’s Irish airline, Aer Lingus, and a €40 million loan to the Dublin Airport Authority. The ISIF was launched in 2014 to invest in supporting economic activity
NetJets has announced a dual investment in sustainable air fuel producer Wastefuel. As the only private aviation company to invest in the production of sustainable aviation fuel (SAF), NetJets has acquired a stake in WasteFuel in addition to agreeing to purchase 100 million gallons of SAF over the next ten years. Currently the two companies
Russia’s TMH Group, a supplier of rolling stock, has agreed to buy Norway-based Bergen Engines from Rolls-Royce for a net price of €150 million (US$180 million). The deal is one of a number of sales involving its smaller businesses in an attempt to mitigate the financial hardship the conglomerate is suffering as a result of
The International Air Transport Association (IATA) has released its results for the full-year 2020 global passenger results. Global demand in RPKs (revenue passenger kilometers) fell 65.9% compared to 2019 figures, and international passenger capacity measured in ASKs (available seat kilometers) fell by 75.6% compared to 2019 figures, while load factor fell 19.2% to 62.8% when
Boeing’s 777X program has been hit by another blow as its fourth-quarter 2020 accounting standard assessment has adjusted firm orders from 309 to 191. Firm orders are those which the company feels confident will result in a completed sale and purchase. Only last week the American planemaker was forced to take a US$6.5 billion charge
Rolls-Royce has announced that it has just conducted its first tests on a 100% sustainable aviation fuel (SAF) that is suitable for business jets. The tests are part of Rolls-Royce’s commitment to help areas in which it is involved to operate at net zero carbon by 2050. The tests were performed using the company’s latest
