Russia’s largest airline, Aeroflot, has bucked the trend of strong profits in the airline sector by reporting a loss of $88 million for 2015. Despite posting a 13.4 percent rise in passenger numbers and holding the lion’s share of the domestic market, Aeroflot lost money for the secon...
Stelios Haji-Ioannou, one of the largest investors in Fastjet (FN, Dar-es-Salaam) (through easyGroup holding 12% of Fastjet shares), has demanded an extraordinary general meeting of shareholders to discuss the proposed dismissal of Fastjet's chief executive Ed Winter and one of its directors, Kr...
Infrastructure investors are hot on the trail of airport assets and are willing to pay a premium, even for secondary and regional airports. Emblematic of this quest is the deal reached by a consortium that included Ontario Teachers’ Pension Plan and Borealis Infrastructure to acquire London City Airport, located just east of the city’s Canary Wharf district and favored by business t...
On-demand flight company Wheels Up raised over $96 million. Wheels Up is a membership-based private aviation company that last September announced “up to $115 million” in new venture capital funding from T. Rowe Price, Fidelity Investments and New Enterprise Associates. A lot of the related media coverage, however, left out the “up to” part. At the time, Wheels Up had...
FLY Leasing Limited , a global leader in aircraft leasing, today announced that it has closed a $385 million blind pool aircraft acquisition facility. The facility has a three-year revolving period followed by a three-year term and will bear interest at LIBOR plus 2.00% during the revolving period. The lenders include Commonwealth Bank of Australia New York Branch, MUFG’s bank...
According to the consolidated financial statements reported to Borsa Istanbul, Turkish Airlines reported 1 billion 69 million USD net profit surpassing a billion dolar level for the first time in its history. Profit from main operations stood at 895 million USD with an increase of 32 percent from previous year. Turkish Airlines generated sales revenue of 10 billion 522 million&...
The behavior of airline stocks over the past year has been puzzling for investors. Airline profits have soared to record highs thanks to low fuel prices. However, most airline stocks have struggled, as investors have become worried about unit revenue declines. Many airline stocks have fallen in the past year despite strong profit growth. This reaction neglects the significant interplay betwe...
A second ratings agency has lifted its assessment of Qantas stock back to investment grade, sending the airline’s stock up more than one per cent in afternoon trade on a flat day for the broader market. Ratings agency Moody’s on Monday upgraded its senior unsecured ratings of Qantas to “Baa3” from “Ba1”, restoring an investment-grade rating that was lost afte...
Willie Walsh's British airline group has placed a value on one of Ireland's most distinctive brands. His International Consolidated Airlines Group (IAG) has valued Aer Lingus' brand and image, one of the most recognisably Irish company brands in the world, at €110m. The Aer Lingus brand is around 80 years old. IAG gained control of it with the purchase of Aer Lingus last Aug...
Feb 27 Brazil's second biggest airline Gol Linhas Aereas Inteligentes SA said it will get a cash injection of up to 1 billion reais ($251 million) and announced cuts to its routes and aircraft fleet in an effort to trim costs amid weak demand. Takeoffs and landings will be cut by 6 percent this year while service to seven cities is being ended, Gol said in a securities filing on Friday. It...
Milbank, Tweed, Hadley & McCloy LLP partner and head of the firm’s aviation and asset finance practice in Asia, Paul Ng advised on more than US$10 billion in transactions at the Singapore Airshow, Asia’s largest gathering for the global aerospace community. Milbank was counsel on no less than five transactions signed at the Airshow including a over $3 billion jet engin...
Regional carrier Republic Airways has filed for Chapter 11 bankruptcy protection, blaming several quarters of falling revenue after grounding aircraft during a pilot shortage. The short-haul carrier, which feeds flights to American, Delta and United airlines, listed assets of USD$3.6 billion and USD$3.0 billion of liabilities, court documents showed. Republic said the bankruptcy process woul...
Zodiac Aerospace shares plunged the most in more than 17 years after saying a restructuring meant to halt delays in delivering airliner seats will take longer than estimated, the latest in a series of setbacks that have dented management’s credibility. The stock slumped 21 percent to 15.39 euros at 10:35 a.m. in Paris, giving the company a market value of 4.4 billion euros ($5 billion). T...
Air New Zealand has reported a more than doubling of first half net profit amid strong growth in passenger numbers and as the airline benefits from lower fuel prices and a booming New Zealand tourism market. The company said net profit for the six months to December 31 2015 came in at $NZ338 million, up 154 per cent from $NZ133 in the prior corresponding period. Air NZ grew capacity, measure...
Running now
Brazil, SANTANA
08/09/2026
United Kingdom, London
Air France-KLM today has submitted a binding offer to Parpública for the acquisition of a 44.9% to 49.9% stake in TAP Air Portugal, marking a decisive step in the airli...
