American Airlines (American) has achieved record first-quarter revenue of approximately US$12.6 billion. However, it reported a net loss of US$312 million. Excluding net special items, the net loss was US$226 million. Despite challenges, American Airlines Group attained its best-ever first-quarter completion factor. It generated operating cash flow of US$2.2 billion and free cash flow of
In a significant advancement for VoltAero’s Cassio e-aircraft family, the company has commenced certification testing for the five-seat Cassio 330’s parallel electric-hybrid powertrain. The powertrain, mounted on a ground-based test bench, incorporates crucial components for the series production of Cassio 330s: Safran Electrical & Power’s ENGINeUS™ 100 smart electric motor and Kawasaki’s four-cylinder high-performance thermal
Lufthansa Technik Malta (LTM) has achieved a significant milestone by successfully completing its inaugural base maintenance on a Boeing 787 Dreamliner. The completion of the C-check on LOT Polish Airlines‘ B787-9, registered as SP-LSC, follows closely after last year’s announcement of LTM’s expansion into Boeing’s renowned long-haul wide-body aircraft. Investing several million euros in preparation
Airbus has unveiled its consolidated financial results for the first quarter ending March 31, 2024 (Q1 2024). The company reported robust performance across its commercial aircraft, helicopters, and defence and space divisions. Gross commercial aircraft orders reached 170 units in Q1 2024, up from 156 in Q1 2023, with no cancellations, maintaining the same number
CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing (CDB Leasing), has signed new lease agreements for a fleet of seven additional narrow-body and wide-body aircraft with its existing customer, Turkish Airlines (Turkish), the flag carrier of Türkiye. Under the new agreements, one used Airbus A330-343 will be delivered in May
Condor, a German leisure airline, has received its inaugural Airbus A320neo on lease from Avolon following a ceremony in Toulouse. This milestone marks the airline’s ongoing fleet modernisation, which already features the A330neo for long-haul routes. By utilising aircraft from the A320 and A330neo families, Condor aims to maximise the benefits of commonality between these
IAG Cargo, the cargo arm of International Airlines Group (IAG), has successfully transitioned its 160-strong ground vehicle fleet at London Heathrow from Diesel to hydrotreated vegetable oil (HVO). HVO, derived from plant waste and fully renewable materials, serves as a seamless replacement for White Diesel, significantly impacting net carbon emissions. For IAG Cargo, the shift
In a new development, AJW Group, a globally renowned independent provider of aircraft component parts, repair, and supply chain solutions, has announced the acquisition of a Boeing 787-900 Dreamliner. AJW Group has solidified its position with the acquisition of the Boeing 787-900, MSN 37109, which recently arrived at Cotswold Airport, United Kingdom. The aircraft, equipped
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
Robinson Helicopter Company (RHC) has completed the acquisition of Ascent AeroSystems, which now operates as a wholly owned subsidiary of Robinson Helicopter Company. This strategic move underscores Robinson’s commitment to advancing innovation, expediting new rotorcraft developments, and supporting diverse missions globally. By harnessing the expertise and resources of both entities, Robinson reinforces its position at
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
RTX has reported first-quarter sales of US$19.3 billion, marking a 12% increase over the previous year. GAAP EPS rose by 32% to US$1.28, which included various adjustments such as acquisition accounting adjustments, tax audit settlements, and gains related to divestiture. Adjusted EPS stood at US$1.34, reflecting a 10% increase compared to the prior year. RTX
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
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