Austrian Airlines repays another €30 million

©Austrian Airlines

After the early repayment of the first loan instalment of €30 million in July 2021, Austrian Airlines repaid another €30 million on December 31, 2021. By the end of 2021 the national carrier has repaid the first €60 million of the state-guaranteed loan worth a total of €300 million. Despite the ongoing pandemic, the airline is fulfilling its responsibility and meets the financial agreements as planned. In June 2020, Austrian Airlines received a Corona aid package totalling €600 million, €150 million as an equity contribution from Lufthansa and a further €150 million as state-cover for damages. The remaining €300 million Read more

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AMAC Aerospace Switzerland and Gamit Limited UK announce merger

Gamit has announced the successful agreement of the merger between AMAC Aerospace Switzerland AG and Gamit Limited UK. For a number of years Gamit and AMAC Aerospace have collaborated on many projects and supported client needs, this announcement complements the great collaboration between the two organisations. Since 1990, Gamit’s primary services are in the field of aircraft spare parts and logistics support additionally, digitalising technical records and asset management for commercial airlines, corporate operators, and lessors in asset sales or lease transitions. Gamit is headquartered at London Stansted Airport with clients throughout USA, Europe, Africa, Middle East and Asia. AMAC Read more

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GA Telesis MRO Services Group reports record financial performance

GA Telesis’ MRO Services Group has achieved a new record year in its financial metrics. As the 2021 fiscal year ends, the company reported sales and earnings above 2019 pre-pandemic levels. The stellar performance resulted from steps taken during 2020 to ensure continued supply of parts, accelerated hiring and retention practices during the pandemic, new capabilities and additional agreements entered during this year. As a result, the company’s performance considerably outpaced the return of global airline capacity signifying a substantial increase in market share and material increases in year-on-year same customer sales. During the pandemic, the company retained 100% of Read more

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Digital Aero Technologies invests €1 million into aviation tech businesses Locatory.com and Enginestands.com

Digital Aero Technologies, established by global aviation services group Avia Solutions Group, has announced that two more companies have joined the digital family – Locatory.com and Enginestands.com. The recently established holding Digital Aero Technologies plans to cover various tech areas and fields – from news and recruitment to smart tools and online platforms. The holding has been actively looking to gather some of the industry-leading aviation technology companies under one roof. “I trust that uniting forward-thinking active businesses will encourage innovation and inter-company projects,” says Julius Norkunas, Digital Aero Technologies CEO. Digital Aero Technologies is set to invest in up-and-coming Read more

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IAG steps back from current Air Europa acquisition to assess options

Mallorca-based Air Europa ©AirTeamImages

With every indication that European competition regulators would likely veto the takeover of Air Europa by IAG, IAG has opted to withdraw from current negotiations to assess the potential for some form of future tie-up. IAG owns multiple airlines including Spanish carriers Iberia, Vueling and Level. Indications are that European regulators were concerned that the takeover of Air Europa by IAG would have a damaging effect on competition in the Spanish domestic market and also international routes to the country. Air Europa, which is owned by Spanish company Globalia provides connections to Latin American countries as well as flying to Read more

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ASI Aero forms joint venture with initial investment of US$32 million

Aeronautical Support International (ASI Aero) has announced the formation of Team Aero Partners to target investments in aviation commercial assets to support the Used Serviceable Material (USM) and “Green-Time” aircraft engine leasing markets. ASI Aero entered into this joint venture agreement with a New York-based private capital partner. As the operating member ASI Aero will source engine assets for the joint venture and subsequently manage these assets through consignment programmes. Team Aero Partners will initially dedicate US$32 million (£24 million) to the venture. “This is a great opportunity for ASI Aero to increase our inventory and to support our Airline and Read more

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JSSI accelerates digital strategy with TRAXXALL acquisition

Jet Support Services, Inc. (JSSI), an independent provider of maintenance support and financial services to the business aviation industry, has announced the acquisition of TRAXXALL. Founded in 2013, TRAXXALL provides software-as-a-service (SaaS) solutions for aircraft maintenance tracking, parts inventory management and cloud-based software to enhance aircraft maintenance, repair and overhaul workflow. Headquartered in Montreal, Canada, TRAXXALL has offices around the world. TRAXXALL has quickly emerged as a significant player in the maintenance tracking market. TRAXXALL delivers software to help customers reduce aircraft downtime, improve data accuracy and have comprehensive visibility over maintenance costs, parts inventory and MRO operations. TRAXXALL’s global Read more

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Improved travel demand enables Air France-KLM to pay back €500 million of €4 billion loan

©AirFrance-KLM

With demand for travel showing signs of a recovery and improved access to capital markets, Air France-KLM will repay €500 million of a €4 billion loan from a consortium of nine French State banks. The original loan was provided to the carrier to help it negotiate the knock-on effects of the global pandemic. In addition to the partial repayment of the loan, Air France-KLM is looking to renegotiate the date for final settlement of the loan from May 6, 2023, to May 6, 2025. The carrier will repay €800 million in May 2023, €1.35 billion in May 2024, and a Read more

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Delta Air Lines will make investments in Virgin Atlantic, Aeromexico and LATAM

©Delta Air Lines

Delta Air Lines will make investments in Virgin Atlantic, Aeromexico and LATAM as the partner airlines transform their businesses to emerge from the global pandemic stronger and more resilient. Prior to the pandemic, Delta was achieving record international growth attributed to a combination of organic growth and its global partner network. Over the past ten years, Delta has built industry-leading partnerships with flagship airlines across Europe, Asia and Latin America. As international travel demand returns, the connectivity, relevance and breadth of Delta’s global network with its partners remains critical to continuing this success. Delta is investing in Virgin Atlantic, Aeromexico Read more

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TUI reports £2.1 billion annual loss as new COVID variant threatens winter bookings

©TUI

Hanover, Germany-based Touristik Union International (TUI), the world’s largest leisure, travel and tourism company is considering a potential cut to the remainder of its winter schedule as a consequence of the new Omicron COVID-19 variant begins to spread, globally. This comes on the back of the group reporting a loss of £2.1 billion for the financial year ended September 30, 2021 which it has attributed to the effects of the pandemic on the travel industry as a whole. The potential fourth wave of the pandemic comes at a time when TUI was getting close to break-even point, having posted a Read more

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