Global air travel recovery slower than anticipated Cash containment and business adaptation on track 9m revenues € 30.2 billion; 9m EBIT Adjusted € -0.1 billion 9m EBIT (reported) € -2.2 billion; 9m loss per share (reported) € -3.43 Restructuring provision of &eu...
In the first nine months 2020, MTU Aero Engines AG generated revenue of €2,956.6 million (1-9/2019 €3,403.7 million). The operating profit was €310.8 million, compared with €557.7 million in the prior-year period. The EBIT margin was 10.5% (1-9/2019: 16.4...
Milestone Aviation and Airbus Helicopters have agreed to include six H160s in Milestone’s orderbook. The helicopters will be destined for a range of missions including offshore transportation and emergency medical services, the first of which is set to deliver in 2023. “Today’s announcement will see us enhance our orderbook to include the H160 which we believe will be an...
Vertical Aerospace has received investment from the Aerospace Technology Institute (ATI) to fund the development of a smart charger for their electric aircraft. The charger will increase Vertical’s in-flight performance and safety for their recently unveiled passenger model, VA-1X. This two-year project, expected to be completed by October 2022, pioneers a new wave of avia...
Embraer announced a 4,5% adjustment to its global workforce, which corresponds to approximately 900 employees in Brazil. The measure stems from the impacts caused by the COVID-19 pandemic on the global economy and the cancellation of the company’s partnership with Boeing. The objective is to ensure Embraer's sustainability and engineering capacity. The pandemic particularly affec...
Gogo Inc. announced it has entered into a definitive agreement to sell its Commercial Aviation business to Intelsat S.A. for $400 million in cash, subject to customary adjustments. The Gogo Board of Directors has approved the transaction. Intelsat expects to finance the transaction utilizing cash on hand and borrowings under its $1 billion debtor-in-possession cr...
As a result of the Coronavirus crisis, revenue and the number of passengers carried by the Latvian airline airBaltic has significantly decreased, and according to airBaltic's unaudited consolidated financial results for the first six months of 2020, the group suffered loss of EUR 184.8 million. Martin Gauss, Chief Executive Officer of airBaltic: “W...
TAG Aviation Holding announced the sale of TAG Aviation SA and the company’s 51% share of TAG Aviation Asia to its joint venture partner in Asia, Young Brothers Aviation Ltd. and another private investor. The sale of the two charter/management businesses follows the recent divestiture of TAG Farnborough Airport and TAG’s various maintenance and FBO businesses earlier this year.&n...
Latvian airline airBaltic and Airbus have signed an agreement on a revised Airbus A220-300 delivery schedule for the remaining 28 jets airBaltic has on order. It will complete the firm order of 50 Airbus A220-300 jets by early 2024. Martin Gaussnd Airbus, CEO of airBaltic: “The recent crisis enabled us to push forward our decision to...
Cirrus Aircraft announced expanded services for international owners of Cirrus aircraft to further enhance the customer experience, including the availability of international finance options through Cirrus Finance™ and the launch of an EASA-approved Vision Jet™ Training program in Europe. Cirrus Finance Expands Internationally Renowned in the industry for competitive rates and e...
AviaAM Leasing announced the purchase of a Boeing 747-400F nose-loader aircraft which has already started commercial operations on behalf of Magma Aviation. The aircraft – which is a part of the Magma Aviation fleet – has been recently painted in the Magma Aviation livery with the new addition of the Avia Solutions Group logo.The aircraft has already accomplished its first co...
The collapse in demand for air travel due to the Corona pandemic led to an 80 percent drop in revenue for the Lufthansa Group in the second quarter to 1.9 billion euros (previous year: 9.6 billion euros). Most of the revenue (1.5 billion euros) was generated by Lufthansa Cargo and Lufthansa Technik. The Lufthansa Group Adjusted EBIT in the quarter under review amounted to minus 1.7 billion euro...
In accordance with the bond calendar outlined in the final prospectus of the bond issue, the Latvian airline airBaltic on July 23, 2020 has made the first bond coupon payment to its investors in the amount of EUR 13.5 million. Martin Gauss, Chief Executive Officer of airBaltic said: “Last summer we issued the largest bond in the history of Latvia to support our futur...
The European Commission has approved, under EU State aid rules, a €3.4 billion Dutch aid measure consisting of a State guarantee on loans and a subordinated State loan to KLM to provide urgent liquidity to the company in the context of the coronavirus outbreak. The measures were approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020. Executive Vice-Pres...
08/09/2026
United Kingdom, London
10/09/2026
Latvia, Riga
Solairus Aviation announced an agreement to acquire the Aircraft Management and Charter divisions of Clay Lacy Aviation. Solairus currently manages approximately 360 aircraft from more than 100 b...
