Genesis, an Ireland-based aircraft lessor, has announced the promotion of Denise Byrne from her role as VP of Pricing to Senior Vice President (SVP) of Portfolio Services. This new department will consolidate Genesis’s pricing and risk management activities under a single umbrella, enhancing the company’s focus on effective asset management and strategic financial oversight. Byrne’s…
FlySafair, a low-cost airline based in South Africa, is currently under scrutiny from the International Air Services Council (IASC) for non-compliance with local regulations regarding foreign ownership. According to the IASC, FlySafair’s current ownership structure does not align with South Africa’s regulatory limits on foreign ownership for domestic airlines. This compliance issue poses a potential…
Eve Air Mobility, a U.S.-based company specializing in electric vertical takeoff and landing (eVTOL) aircraft, has achieved a significant regulatory milestone with the publication of the final airworthiness criteria for its eVTOL by ANAC, Brazil’s civil aviation authority. This announcement brings Eve Air Mobility closer to certification, marking an essential step in the path toward…
Capital A, the Malaysia-based parent company of AirAsia, has announced the promotion of its Chief Financial Officer, Pattra Boosarawongse, to the position of Deputy CEO, effective 1 November 2024. This appointment reflects Capital A’s recognition of Boosarawongse’s contributions and expertise, particularly in financial strategy and organizational leadership. As Deputy CEO, Boosarawongse is expected to play…
Boeing machinists have voted to accept the company’s latest contract offer, officially ending a strike that began on 13 September 2024. The new contract, which promises a 38% pay increase spread over four years, addresses key demands and reflects Boeing’s commitment to reaching a fair and equitable agreement with its workforce. This development brings a…
Heston Materials, a leading aviation materials provider based in Lithuania, has entered into a new agreement with Lufthansa Technik, a renowned German MRO (Maintenance, Repair, and Overhaul) provider. This strengthened collaboration between the two companies aims to enhance their combined capabilities in delivering comprehensive MRO services to airlines and aviation operators worldwide. Through this partnership,…
Willis Lease Finance Corporation (WLFC), a leading U.S.-based provider of aviation leasing and asset management services, has entered into a new five-year revolving credit facility totaling $1 billion. This significant agreement, which includes WLFC’s wholly-owned subsidiaries as guarantors, replaces the company’s previous $500 million credit facility, enhancing its financial flexibility and supporting its long-term growth…
Gevo, a leading sustainable aviation fuel (SAF) producer in the United States, has secured a conditional loan guarantee of $1.46 billion from the US Department of Energy (DOE) Loan Programs Office. This funding commitment is aimed at supporting Gevo’s Net-Zero 1 SAF project in South Dakota, a key initiative in the company’s efforts to produce…
Air Transport Services Group (ATSG), a prominent U.S.-based provider of air cargo and leasing services, has entered into a definitive agreement to be acquired by investment firm Stonepeak in an all-cash transaction valued at approximately $3.1 billion. The deal, which is expected to close in the first half of 2025, will result in ATSG transitioning…
SpiceJet, the prominent low-cost airline based in India, has been ordered to pay $3.7 million, along with applicable interest, to Aerocare Aviation Services following an eight-year legal dispute. The ruling brings closure to a prolonged financial disagreement between the two parties and underscores the importance of clear contractual and service agreements within the aviation sector.
