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flypop Announces Investment from the UK Government Future Fund

Norwegian is very disappointed about lack of government support

The government of Norway announced that Norwegian will not receive further financial support, which Norwegian had clearly communicated was necessary to maintain operations throughout the Covid-19 crisis. The company is now facing a very uncertain future, but we will do everything in our power to get...

Engage in the Development of RIX Cargo City - Riga Airport calls on investors

Continuing the development of the air cargo segment, Riga Airport has announced an international tender to attract an investor for the construction of a new multi-functional cargo handling and logistics complex in the Airport territory. To create the complex, the Airport offers investors an opp...

Lufthansa Group reports Adjusted EBIT of minus EUR 1.3 billion in the third quarter

− Liquidity of EUR 10.1 billion available, of which EUR 6.3 billion are unutilized stabilization measures − Ongoing strong performance at Lufthansa Cargo further supports Group liquidity − Hub strategy enables cash-positive flight operations, even in the current market environment &mi...

Global Jet Capital completes securitization, raising $522M

Global Jet Capital announced the closing of its BJETS 2020-1 securitization, raising approximately $522 million. BJETS 2020-1 is Global Jet Capital’s fourth ABS offering, bringing total assets securitized to over $2.8 billion and bonds issued to over $2.3 billion. The BJETS 2020-1 offering contained three tranches of notes: a $426.4 million Class A tranche, a $63.6 milli...

Airbus reports Nine-Month 2020 results

Global air travel recovery slower than anticipated Cash containment and business adaptation on track 9m revenues € 30.2 billion; 9m EBIT Adjusted € -0.1 billion 9m EBIT (reported) € -2.2 billion; 9m loss per share (reported) € -3.43 Restructuring provision of € -1.2 billion recognised in EBIT (reported) 9m free cash flow before M&A and customer finan...

MTU Aero Engines AG presents its nine-month figures and a more precise forecast

In the first nine months 2020, MTU Aero Engines AG generated revenue of €2,956.6 million (1-9/2019 €3,403.7 million). The operating profit was €310.8 million, compared with €557.7 million in the prior-year period. The EBIT margin was 10.5% (1-9/2019: 16.4%). In line with adjusted EBIT, adjusted net income dropped from €391.7 million to &e...

The first leasing customer for multi-mission H160 - Milestone

Milestone Aviation and Airbus Helicopters have agreed to include six H160s in Milestone’s orderbook. The helicopters will be destined for a range of missions including offshore transportation and emergency medical services, the first of which is set to deliver in 2023. “Today’s announcement will see us enhance our orderbook to include the H160 which we believe will be an...

Vertical Aerospace secures ATI funding for £2.3 million smart charger development project

Vertical Aerospace has received investment from the Aerospace Technology Institute (ATI) to fund the development of a smart charger for their electric aircraft. The charger will increase Vertical’s in-flight performance and safety for their recently unveiled passenger model, VA-1X. This two-year project, expected to be completed by October 2022, pioneers a new wave of avia...

Embraer adjusts its structure in response to the impacts of COVID-19 and the cancellation of the partnership with Boeing

Embraer announced a 4,5% adjustment to its global workforce, which corresponds to approximately 900 employees in Brazil. The measure stems from the impacts caused by the COVID-19 pandemic on the global economy and the cancellation of the company’s partnership with Boeing. The objective is to ensure Embraer's sustainability and engineering capacity. The pandemic particularly affec...

Gogo sells commercial aviation business to Intelsat for $400 million in cash

Gogo Inc. announced it has entered into a definitive agreement to sell its Commercial Aviation business to Intelsat S.A. for $400 million in cash, subject to customary adjustments. The Gogo Board of Directors has approved the transaction. Intelsat expects to finance the transaction utilizing cash on hand and borrowings under its $1 billion debtor-in-possession cr...

Covid-19 for airBaltic -185 million consolidated loss in the first half of 2020

As a result of the Coronavirus crisis, revenue and the number of passengers carried by the Latvian airline airBaltic has significantly decreased, and according to airBaltic's unaudited consolidated financial results for the first six months of 2020, the group suffered loss of EUR 184.8 million. Martin Gauss, Chief Executive Officer of airBaltic: “W...

TAG Aviation Holding announced the sale of its remaining investments

TAG Aviation Holding announced the sale of TAG Aviation SA and the company’s 51% share of TAG Aviation Asia to its joint venture partner in Asia, Young Brothers Aviation Ltd. and another private investor. The sale of the two charter/management businesses follows the recent divestiture of TAG Farnborough Airport and TAG’s various maintenance and FBO businesses earlier this year.&n...

A220-300 delivery schedule revised by airBaltic and Airbus to complete firm order in 2024

Latvian airline airBaltic and Airbus have signed an agreement on a revised Airbus A220-300 delivery schedule for the remaining 28 jets airBaltic has on order. It will complete the firm order of 50 Airbus A220-300 jets by early 2024. Martin Gaussnd Airbus, CEO of airBaltic: “The recent crisis enabled us to push forward our decision to...

Expanded services for international customers by Cirrus Aircraft

Cirrus Aircraft announced expanded services for international owners of Cirrus aircraft to further enhance the customer experience, including the availability of international finance options through Cirrus Finance™ and the launch of an EASA-approved Vision Jet™ Training program in Europe. Cirrus Finance Expands Internationally Renowned in the industry for competitive rates and e...

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Top of the week

Samson Sky secures $80 million to launch switchblade flying car production

Samson Sky, developer of the Switchblade Flying Car, announced it has secured an $80 million investment from Dubai‑based Matin Group. According to Sam Bousfield, CEO, Founder...

Kepplair Evolution accelerates its growth with a new €6 million funding round, bringing the total funding raised to €17.5 million

Kepplair Evolution, just days after completing the first pre‑modification flights of its prototype aircraft, has announced the closing of a new €6 million funding round — bringing total fin...