50 SKY SHADES - World aviation news

Finance news

Featured by MySky

Latest Finance news

Leonardo: retained confidence in solid medium-long term fundamentals

Good start to the year Strong order intake at € 3.4 billion, up 36% Key businesses on track, excluding COVID-19 impact Solid Backlog at € 37 billion, ensuring coverage for ca. 2.5 years COVID-19 impact began in March Leonardo facilities designated strategic and all run...

To overcome crisis - airBaltic secures equity

The Cabinet of Ministers of the Republic of Latvia, as the majority shareholder of Latvian airline airBaltic, has today approved the investment of up to EUR 250 million into the equity of airBaltic in order to mitigate the company to overcome the economic crisis caused by CO...


LCI launches US$100 million helicopter co-investment vehicle with Thora Capital and RIVE Private Investment

LCI has strengthened its leasing platform with the establishment of a new co-investment vehicle with Thora Capital, LLC. and RIVE Private Investment as partners. The transaction covers six Leonardo AW139s and three Airbus H130 helicopters, all of which have long-term, secure debt financing in place. The helicopters, which are valued at over US$100 million, are currently deployed in Australia...

Mitsubishi Heavy Industries acquisition of Canadair Regional Jet Program

Mitsubishi Heavy Industries and Bombardier have agreed that all closing conditions have been met and the transaction pertaining to the acquisition of Canadair Regional Jet (CRJ) Program will close on June 1, 2020. The Program will be operated under the newly created group entities of MHI RJ Aviation Group (MHIRJ) and will commence upon closing. As part of the acquisition, MHI acqu...

Qantas Group - increasing resilience for long-term recovery

The Qantas Group has continued to strengthen its ability to deal with the short and likely long-term impacts of the coronavirus crisis. It has also extended flight cancellations from end-May through to the end of July, which were still at pre-coronavirus levels – but some capacity can be added back in if domestic and Trans-Tasman restrictions ease in coming weeks. Given the consequence...

Safran: Adapting to an unprecedented situation

CEO Philippe Petitcolin commented: "Over the past year, Safran has successfully managed the impact of the 737MAX crisis. The situation we are facing today is of a different order of magnitude, although it remains difficult, at this point, to measure precisely its far-reaching consequences. The actions which my fellow managers and I have launched are timely, tailored to each particular s...

Airbus reports First Quarter 2020 results

Airbus SE reported consolidated financial results for its First Quarter (Q1) ended 31 March 2020. “We saw a solid start to the year both commercially and industrially but we are quickly seeing the impact of the COVID-19 pandemic coming through in the numbers,” said Airbus Chief Executive Officer Guillaume Faury. “We are now in the midst of the gravest crisis the aerospace indu...

The Air France-KLM Group and Air France secure funding of €7 billion

In its communication of 9 April 2020, the Air France-KLM Group stated that, given the major impact of the Covid-19 crisis, which will weigh heavily on its EBITDA, and despite the significant measures taken to preserve its liquidity, it predicted that in the absence of additional funding, a liquidity injection would be necessary in the third quarter of 2020. The Air France-KLM Group, Air France...

Virgin Australia enters voluntary administration

Virgin Australia has entered voluntary administration to recapitalise the business and help ensure it emerges in a stronger financial position on the other side of the COVID-19 crisis.  The Group’s Board of Directors has appointed Vaughan Strawbridge, John Greig, Sal Algeri and Richard Hughes of Deloitte as voluntary administrators of the company and a number of its subsidiaries. Veloci...

Norwegian pilot and cabin crew companies in Sweden and Denmark file for bankruptcy

Due to the ongoing spread of the Coronavirus (COVID-19) most countries have advised against or have banned non-essential travel. The closure of borders and quarantine restrictions has effectively brought the entire airline industry to a halt. Consequently, almost all of Norwegian’s flight operations have been cancelled, while the costs for air crew remain. The pilots and cabin crew in Scandi...

Significant cost reduction achieved by airBaltic

Since the beginning of the crisis caused by the spread of the Coronavirus, Latvian airline airBaltic has taken severe steps to ensure sufficient liquidity of the company enabling airBaltic to operate during a longer period with lower demand. airBaltic took a decision to decrease its overall capacity between April 15 and October 31, 2020, cancelling approximately 50% of...

Resilience and Responsibility: Airbus Annual General Meeting

Over the past 50 years, Airbus’ products and technologies have changed the aerospace industry beyond recognition. But now a game-changing moment has been reached as the sector and society in general address the impact of the coronavirus pandemic. Airbus holds its Annual General Meeting, focusing mainly on the Company’s 2019 operations, results and performance. As Airbus holds this...

Over half of 2020 passenger revenues at risk due to Covid19 crisis

IATA released updated analysis showing that the COVID-19 crisis will see airline passenger revenues drop by $314 billion in 2020, a 55% decline compared to 2019. On 24 March IATA estimated $252 billion in lost revenues (-44% vs. 2019) in a scenario with severe travel restrictions lasting three months. The updated figures reflect a significant deepening of the crisis since then, and re...

The impact of Covid-19 on jet sales: 21% drop in sale of pre-owned private jets in Europe

Analysis of industry data by Colibri Aircraft, the private jet broker which specialises in the marketing, resale and purchase of pre-owned private aircraft, reveals that 152 pre-owned private jets were bought in Europe in 2019 - a drop of 21% when compared to 2018 when there were 192 sales.  Despite this, Colibri Aircraft saw a significant increase in its transaction volume year-on-year....

Upcoming events

NBAA-BACE 2020

06/10/2020 - 08/10/2020
United States, Orlando

European Airline Training Symposium

27/10/2020 - 28/10/2020
Norway, Oslo

Top of the week

Gogo sells commercial aviation business to Intelsat for $400 million in cash

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....

Embraer adjusts its structure in response to the impacts of COVID-19 and the cancellation of the partnership with Boeing

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...

Expanded services for international customers by Cirrus Aircraft

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...

Covid-19 for airBaltic -185 million consolidated loss in the first half of 2020

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...

A220-300 delivery schedule revised by airBaltic and Airbus to complete firm order in 2024

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. I...

Corona pandemic considerably impacted Lufthansa result

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 eur...

AviaAM Leasing racquired Boeing 747-400F nose-loader liveried and operational on behalf of Magma Aviation

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 p...