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Vertical Aerospace secures ATI funding for £2.3 million smart charger development project

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 global economy and the cancellation of the company’s partnership with Boeing. The objective is...

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. The Gogo Board of Directors has approved the transaction. Intelsat expects to finance the tran...

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'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 its remaining investments

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...

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. 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...

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 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 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 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...

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 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...

First airBaltic bond coupon is paid

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...

EU Commission approves Dutch plans to provide €3.4 billion in urgent liquidity support to KLM

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...

To meet cargo demands during covid19 crisis Hi Fly converts A380

Hi Fly has created extra cargo capacity by temporarily removing economy seats of some of its aircraft, including the iconic A380 “Save the Coral Reefs”, to meet the high cargo demands during covid-19 crisis. The A380, with its large extra wide cabin and three deck can offer the largest volume for cargo transportation amongst all the passenger aircraft used for cargo, aproximatel...

Jet Linx purchases Meridian Aircraft Management and Air Charter

Jet Linx continued its strategic expansion in the New York, New Jersey and Connecticut tri-state region by acquiring Meridian Aircraft Management and Air Charter business. Meridian is a full-service private aviation company headquartered at Teterboro Airport. While the terms of the transaction were not disclosed, the acquisition encompasses a fleet of 23 long range and short range privat...

Second set of measures for Lufthansa restructuring program

The Executive Board of Deutsche Lufthansa AG has approved a second set of measures as part of its overall restructuring program in the wake of the coronavirus crisis. With the first set of measures launched in early April it had been decided, among other things, to reduce the fleet by 100 aircraft and not to resume the flight operations of Germanwings. Following the approval by Lufthansa shareh...

European Commission Approves airBaltic Equity Increase of 250 Million Euro

The European Commission on July 3, 2020, under EU State aid rules, has approved the Latvian government's investment of €250 million into the equity of the Latvian airline airBaltic to contribute to overcome the economic crisis caused by COVID-19 and resume growth. The European Commission points out that EU Member States introduced various travel restrictions in the second qua...

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Essential news

Fearless Forecasts 2022 predicts continued aviation recovery - Avolon

Avolon issued its annual outlook paper for 2022 titled ‘Rise Above’. Co-authored by Jim Morrison, Head of Portfolio Management, and Rosemarie O’Leary, Head of Counterparty...

Transition towards net-zero sustainable fuels - LanzaJet partners Microsoft Climate Innovation Fund

LanzaJet has secured financing for its Freedom Pines Fuels plant in Soperton, Georgia, through the Microsoft Climate Innovation Fund. The Microsoft Climate Innovation Fund has made a $50M investm...

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Fearless Forecasts 2022 predicts continued aviation recovery - Avolon

Avolon issued its annual outlook paper for 2022 titled ‘Rise Above’. Co-authored by Jim Morrison, Head of Portfolio Management, and Rosemarie O’Leary, Head of Counterparty...

Lockheed Martin Ventures leads series A funding round for Electra.aero

Electra announced that it has received an investment in its Series A funding round from Lockheed Martin Ventures. The funding will support Electra's plans to begin flight testing a full-scale...

Transition towards net-zero sustainable fuels - LanzaJet partners Microsoft Climate Innovation Fund

LanzaJet has secured financing for its Freedom Pines Fuels plant in Soperton, Georgia, through the Microsoft Climate Innovation Fund. The Microsoft Climate Innovation Fund has made a $50M investm...