Aviation market intelligence and advisory company IBA has revealed that with rising engine lease rates and market values showing double-digit growth, the engine sector is now a “lessors’ market”. The latest IBA analysis shows that engine leasing activity has grown significantly with operators now favouring lease extensions to secure lift. In its recent webinar on
Boeing, on April 24, disclosed a US$355 million loss for the initial three months of the year, grappling with a quality dilemma stemming from a January 5, flight where a panel detached from one of its aircraft. The reported loss, though significant, was less severe than analysts’ projections, and notably smaller than the US$425 million
JetBlue, ‘New York’s Hometown Airline®’, has unveiled its financial performance for the first quarter ending March 31, 2024. The airline disclosed a net loss of US$716 million, representing a year-on-year revenue decline of 5.1% to US$2.2 billion. As of the end of the first quarter, JetBlue held US$1.7 billion in unrestricted cash, cash equivalents, short-term
Spirit AeroSystems has disclosed an agreement with Boeing, whereby the aerospace giant will furnish advance payments totalling US$425 million, according to REUTERS news agency. This agreement aims to assist Spirit in addressing challenges such as elevated inventory levels and reduced cashflows, following the U.S. aviation regulator’s imposition of a production cap on Boeing’s 737 MAX
During the MRO Americas event, Fokker Services America (a subsidiary of Fokker Services Group, FSG) and HAECO have signed a component service support agreement for a duration of five years. This agreement positions FSG to deliver exceptional component servicing from its global facilities in LaGrange (U.S.A.) and Schiphol (the Netherlands) to HAECO’s inventory technical management
All Nippon Airways (ANA) and Air India, India’s national flag carrier, have formalised a commercial agreement signalling the commencement of a codeshare partnership facilitating connectivity between Japan and India. Commencing on May 23, this collaboration between the two Star Alliance members will broaden flight choices for travellers, enabling seamless journeys to their desired destinations by
Robin Hayes, the former CEO of JetBlue Airways, has been selected to succeed C. Jeffrey Knittel as Chairman and Chief Executive Officer of Airbus Americas, effective June 3, 2024. Hayes, with a wealth of experience in global aerospace leadership, will take the helm after Knittel’s tenure as the region’s top executive since 2018. Hayes brings
Textron Aviation has supplied the first two of potentially 64 Multi-Engine Training System (METS) Beechcraft King Air 260 aircraft contracted by the Naval Air Systems Command (NAVAIR) on January 25, 2023, after a comprehensive competitive process. The Beechcraft King Air, crafted and manufactured by Textron Aviation Inc., a subsidiary of Textron, is the focal point
Honeywell has launched Honeywell Forge Performance+ for Aerospace, a cloud-based platform employing AI and machine learning (ML) to assist commercial aerospace manufacturing and MRO facilities in modernising production and reducing operational costs through digitalisation. This addition to the Honeywell Forge suite further underlines Honeywell’s alignment with the megatrends of advancing automation and the future of
Elbe Flugzeugwerke GmbH (EFW), an expert in Airbus passenger-to-freighter (P2F) conversions, and MRO Japan (MJP), a prominent player in Japan’s aerospace maintenance repair and overhaul sector, have announced a memorandum of understanding (MOU) to collaborate on passenger-to-freighter (P2F) conversions. Under the MOU, MJP will serve as a subcontractor for EFW in P2F conversions and offer
Harbour Air, North America’s largest seaplane airline, has signed a Letter of Intent (LOI) with magniX to acquire 50 magni650 electric engines. magniX’s electric propulsion units (EPUs) will be utilised to electrify Harbour Air’s fleet, commencing with the De Havilland DHC-2 Beaver in 2026. The magni650s will also be employed for third-party conversions. This agreement
The Federal Aviation Administration (FAA) is introducing new regulations mandating charter airlines, commuter airlines, air tour operators, and select aircraft manufacturers to establish a safety management system (SMS) to detect and address safety risks early. SMS offers a structured, repeatable and systematic approach to proactively identify hazards and manage safety risks. By integrating SMS, these
Embraer has delivered 25 jets in the first quarter of 2024 (1Q24), marking a substantial increase of 67% compared to the 15 aircraft delivered in 1Q23. Notably, Executive Aviation witnessed robust delivery growth, soaring from eight to 18 jets during the same period in 2023. These deliveries represent the highest first-quarter performance in the last
WestJet has achieved a significant milestone in its mission to attain net-zero emissions by 2050 with the procurement of the first sustainable aviation fuel (SAF) supplied in Canada by Shell Aviation. This achievement underscores WestJet’s commitment to advancing sustainability within the aviation industry, marking a notable stride towards making Canada’s air travel sector more environmentally
In the first quarter of 2024, Munich Airport maintained its trajectory for growth despite numerous strikes, with nearly eight million travellers counted from January to March. This marks an increase of about one million passengers, or approximately 14%, compared to the same period last year. With the current passenger volume, Munich Airport has once again
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