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Latest Finance news

Norwegian: recapitalization finalized and state aid secured

Rolls-Royce major reorganisation - to address medium-term impact of corona crisis

The impact of COVID-19 on Rolls-Royce and the whole of the aviation industry is unprecedented. We have already taken action to strengthen the financial resilience of our business and reduce our cash expenditure in 2020. It is, however, increasingly clear that activity in the commercial aerospace mar...

Investment in expanding global fleet - AirMed International

AirMed International has added a medically configured Hawker 800XP aircraft to its Birmingham, Ala. base. The dedicated medical transport aircraft joins two other AirMed owned and operated Hawker jets based at Birmingham International Airport. "The addition of this dedicated medically equi...

Pilatus is prepared for turbulent 2020

Pilatus reported another very successful business year in 2019, exceeding the one billion mark yet again with turnover of approximately 1.1 billion Swiss francs. Operating income totalled 153 million Swiss francs, incoming orders amounted to 1.1 billion Swiss francs. Pilatus staff enjoyed a share in this success with a generous bonus payout – even in the current difficult economic climate....

Government investment in airBaltic will return multiple times for Latvia - Martin Gauss

On May 11, the CEO of airBaltic Martin Gauss presented and shared the experience on how airBaltic is dealing with the COVID-19 crisis, how the new business strategy looks and what the future holds for Baltic economies. Preparedness and fast adaption to the situation. airBaltic had a well-developed crisis plan for various economic and operational crisis of the...

Strong Q1 for FACC to start a challenging fiscal year 2020

FACC AG started into the 2020 fiscal year with its best Q1 result to date. The measures of the cost reduction program totaling 50 million euros are beginning to take full effect. This has created a good starting position for the corona crisis. The effects of the COVID 19 pandemic will noticeably influence the further course of the financial year, although the full extent of the decline cannot yet...

First quarter 2020: Embraer Delivers Five Commercial and Nine Executive Jets

Embraer delivered a total of 14 jets in the first quarter of 2020, of which five were commercial aircraft and nine were executive jets (five light and four large). As of March 31st, the firm order backlog totaled USD 15.9 billion. See details below: Historically, Embraer seasonally has fewer deliveries during the first quarter of the year, and in 2020 in particular, the commercial airc...

Mergers and acquisitions in the post covid19 aerospace world

As businesses cope with the human and financial toll of the coronavirus pandemic and survival becomes top priority, deal making is expected to slow significantly across industries. Last year was another banner year for mergers and acquisitions (M&A) in the aerospace and defense industry, but the headline for 2020 will look much different as the world grapples with the COVID-19 situation and th...

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 running Some slowdowns in production activities, lower productivity, lower efficiencies and delays in...

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 COVID-19. Martin Gauss, the CEO of airBaltic, said: “With this new equity investment, we...

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...

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