In the fiscal year ending on December 31, 2023, BOC Aviation‘s (BOC) financial performance demonstrated significant growth and resilience. Total revenues and other income experienced a notable 7% increase year-on-year, reaching US$2.5 billion. A remarkable net profit after tax of US$764 million was achieved, a substantial rise from US$20 million in 2022. Core net profit
CAMP Systems International (CAMP), a unit of Hearst, has agreed to acquire a portfolio of aviation software businesses from Miami-based World Kinect Corporation. The businesses include the Avinode Group, an air charter sourcing platform and World Kinect’s portfolio of aviation software serving fixed-base operator’s (FBO), delivering a range of aeronautical services such as fuelling, hangaring,
Crosslake Group, a private financial firm specialising in investments in privately held aerospace and defence enterprises, has successfully acquired two prominent maintenance, repair and overhaul (MRO) companies based in South Florida. The acquired companies, Continental Aircraft Support, Inc. (Continental) and Magnum Aircraft Repair Services, Inc. (M.A.R.S.), are now integral members of Crosslake’s aftermarket aviation parts
Lufthansa Group’s balance sheet presentation in Frankfurt on Thursday, March 7, revealed not only the successful recovery from the pandemic, but also the challenges that lie ahead for the company. The positive aspects include a Group net profit of €1.7 billion, a 15% increase in revenue to €35.4 billion and an adjusted EBIT of €2.7
JetBlue and Spirit Airlines have jointly decided to terminate their merger agreement, originally slated for completion by July 24, 2024. Despite both airlines recognising the potential pro-competitive advantages of the merger, practical hurdles in meeting required legal and regulatory approvals led to this mutual decision. Joanna Geraghty, CEO of JetBlue, expressed the initial optimism behind
HEICO has reported an increase in net income of 23% to US$114.7 million in the first quarter of fiscal year 2024, up from US$93.0 million in the first quarter of fiscal year 2023. Net sales increased 44% to US$896.4 million in the first quarter of 2024, up from US$620.9 million in the first quarter of
Nordic Aviation Capital (NAC) has released its annual financials for the year ended December 31, 2023. Key highlights include a net income of US$72 million, total available liquidity of US$856 million, and total assets of US$3.8 billion at year-end. The net debt stood at US$1.85 billion, with book equity reaching US$736 million. NAC owns 270
Safran Nacelles has completed the acquisition of 3D Metal Forming (3DMF), a company specialised in high-energy hydro forming (HEHF) of metal parts. This innovative manufacturing process reinforces Safran Nacelles’ capacity to develop and produce parts for nacelles and engines, including nozzles and air inlet lips. HEHF is also an enabling technology for manufacturing monolithic integrated
Boeing has revealed on Friday, March 1, its preliminary discussions regarding the potential acquisition of Spirit AeroSystems, its former subsidiary, as part of the company’s strategic response to a crisis triggered by a mid-air panel blowout on January 5. The aerospace giant, aiming to regain control in the aftermath of the incident, expressed confidence that
Avia Solutions Group has successfully concluded the acquisition of Australian airline Skytrans. Specialising in regular public transport (RPT) and charter operations, Skytrans boasts a fleet of 13 regional aircraft. The strategic acquisition secures an Australian Air Operator Certificate (AOC) for Avia Solutions Group, opening avenues for both passenger and cargo flight operations. This move positions
