Alitalia’s board has approved a turnaround plan that will include cost cuts of €1 billion (Dh3.94bn) and an increase in the number of transatlantic flights as the airline seeks to achieve profitability by the end of 2019. The 2017-21 business strategy also envisages a 30 per cent rise...
XTI Aircraft Company (XTI) and Bye Aerospace, Inc. (Bye) jointly announced today that the two companies have entered into an agreement to develop a hybrid/electric prototype of XTI's revolutionary TriFan vertical takeoff airplane. "We're continuing with our plan," said Robe...
Boeing announced that it plans to open a production facility in Sheffield, United Kingdom, to manufacture high-tech components for Boeing’s Next-Generation 737, 737 MAX and 777 aircraft. These actuation systems will be used on the trailing edge of wings of these models. The new facility, the result of a Boeing investment of more than £20 million, is part of a broader plan...
• 2017: End of investment phase with further increase in revenues, earnings and free cash flow • Outlook for 2017: Revenues of approx. €5.1 to €5.2 billion, stable operating margin, net income rising at a higher rate than operating profit – Provisional figures, subject to approval by the Supervisory Board – MTU Aero Engines AG once again set new records...
Piper Aircraft, Inc. announced following the release of the General Aviation Manufacturers Association (GAMA) Annual Industry Review a 26.7% increase in aircraft billings for 2016. The year-end aircraft shipments and billings numbers were presented by Piper Aircraft President and CEO, Simon Caldecott, the 2017 Chairman of GAMA. The substantial growth was driven by the certification and del...
Airbus reported 2016 financial results with its guidance achieved for all key performance indicators and provided an outlook for 2017. “We have delivered on the commitments that we gave a year ago and achieved our guidance and objectives, with one exception, the A400M, where we had to take another significant charge totalling 2.2 billion euros in 2016. De-risking the programme and st...
LMI Aerospace Inc.has entered into a merger agreement to be acquired by Sonaca Group, a global aerostructures company headquartered in Gosselies, Belgium. Under the agreement, LMI shareholders will receive $14 per share in an all-cash transaction. Sonaca’s offer represents a 52 percent premium over LMI’s closing share price on Feb. 16, 2017, of $9.19 per share, a 63 perc...
Buoyed by record production on a new-generation of jet engines, engine components and aircraft systems, GE Aviation investments reached $4.3 billion in its expanding U.S. operations during 2011-2016 with another $1.1 billion invested in its international sites. The U.S. investments include $214 million to establish five new plants in Ellisville, Mississippi; Auburn, Alabama; Asheville, North Ca...
New commercial aircraft funding requirements will continue to grow at a steady pace in 2017 on the back of robust expansion in the global aircraft fleet, Moody’s Investors Service says in a new report. Growth in the availability and trading of mid-life and older aircraft will further sustain the need for financing, and funding sources will remain abundant. More than 1,300 aircraft are sch...
After raising two initial amounts for a total fund of €4.5 million in 2016, Azur Drones, a pioneer in the civilian drone sector, has raised an additional €2 million to accelerate its growth and confirm its leading position on the civilian drones market. Azur Drones is also confirming its desire to consolidate the market by conducting its first external growth operation with the acqui...
Ryanair announced that it has issued a 6.5 year, €750m, Eurobond at a fixed coupon of 1.125%. Ryanair is rated BBB+ (stable) by both Standard & Poor’s and Fitch Ratings. These ratings reflect the ratings of Ryanair’s business model which as a long established track record of profitability, cash generation, and an industry leading balance sheet. The bond will be listed on the I...
Aircraft parts maker Spirit AeroSystems Holdings Inc reported a lower-than-expected quarterly revenue on Wednesday as its biggest customer, Boeing Co, faces slowing demand for jetliners. Spirit's shares were down 4.59 percent to $57.30 in morning trading. Quarterly revenue was hurt by lower "pricing terms" for Boeing's 787 program and fewer production deliveries on the 747...
Rietumu Banka, one of the largest banks in the Baltics States, specialized in corporate banking and affluent individuals, announced its sponsorship of the ‘Wings of Business’ Awards, Russia’s national award in the field of business aviation. Within a decade business aviation worked its way up becoming one of the strong industries in Russia. Rietumu Banka recognizes the potenti...
JR Technologies has entered into an agreement with the International Air Transport Association (IATA) to design, develop, host, and operate the IATA Financial Gateway (IFG) payment solution - a turn-key information technology solution by IATA that will simplify the travel services suppliers shopping-to-cash process. IFG introduces a universal payment gateway allowing members to manage and optimize...
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...
