AerCap, a global leader in aircraft leasing headquartered in Ireland, has announced delays in the delivery schedules of several Boeing and Airbus aircraft due to recent production disruptions. Ongoing labor strikes at Boeing have led AerCap to postpone deliveries of eight Boeing aircraft initially slated for 2024, with their delivery now deferred into 2025 and…
Riyadh Air, the emerging Saudi Arabian airline wholly owned by the Public Investment Fund (PIF), has successfully secured its inaugural Islamic Revolving Credit Facility totaling SAR 5 billion. This financial arrangement comprises a SAR 3 billion revolving credit facility, complemented by a committed accordion option for an additional SAR 2 billion. The one-year, unsecured financing…
Moody’s Investors Service has affirmed the long-term and short-term issuer ratings of Clover Aviation Capital, a prominent Hong Kong-based aircraft leasing company. The ratings, set at Baa3 for long-term and P-3 for short-term, are aligned for both foreign and local currency obligations. The outlook has been revised from stable to positive, signaling potential future upgrades…
Croatia Airlines has reported a net loss of €9 million for the third quarter of 2024, a period traditionally profitable for the carrier. This downturn is primarily attributed to elevated expenses associated with the ongoing transition to a new fleet of Airbus A220 aircraft.
BETA Technologies, a Vermont-based electric aerospace company, has successfully raised $318 million in a Series C funding round. The investment was led by the Qatar Investment Authority (QIA), with significant participation from existing investors, including Fidelity Management & Research Company and TPG Rise Climate. Notably, longtime customer United Therapeutics also joined this round as an…
Alaska Air Group has reported its financial results for the third quarter ending September 30, 2024, showcasing a strong performance that positions the company at the forefront of the airline industry. The company achieved a GAAP pretax margin of 10.7% and earnings per share (EPS) of $1.84. Excluding special items and mark-to-market fuel hedge accounting…
Air Canada has released its financial results for the third quarter of 2024, reporting operating revenues of $6.1 billion, a 4% decrease compared to the same period in 2023. The airline achieved an operating income of $1.04 billion and an adjusted EBITDA of $1.523 billion, reflecting year-over-year declines of $375 million and $307 million, respectively.
Air Vanuatu, the national airline of Vanuatu, has entered negotiations to sell a 49% minority stake to potential investors, with a focus on revitalizing its financial health and operational reach. The Vanuatu government plans to retain a controlling 51% majority, ensuring national oversight while allowing for strategic investment and expertise from private stakeholders. This move…
Morocco has signed a Memorandum of Understanding (MOU) with Brazilian aerospace company Embraer to explore potential joint projects within the Moroccan aerospace industry. This strategic partnership aims to advance collaboration across several areas, including commercial aviation, defense, and emerging fields such as urban air mobility. The agreement aligns with Morocco’s vision to establish itself as…
Spirit Airlines is set to furlough approximately 330 pilots on January 31, 2025, as part of an ongoing cost-cutting strategy aimed at shoring up its finances amid a challenging aviation market. This latest round of furloughs follows an initial cut in September 2024, which saw 186 pilots furloughed. Additionally, Spirit plans to downgrade 120 captains…
