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AviaAM Leasing racquired Boeing 747-400F nose-loader liveried and operational on behalf of Magma Aviation

Corona pandemic considerably impacted Lufthansa result

The collapse in demand for air travel due to the Corona pandemic led to an 80 percent drop in revenue for the Lufthansa Group in the second quarter to 1.9 billion euros (previous year: 9.6 billion euros). Most of the revenue (1.5 billion euros) was generated by Lufthansa Cargo and Lufthansa Technik....

First airBaltic bond coupon is paid

In accordance with the bond calendar outlined in the final prospectus of the bond issue, the Latvian airline airBaltic on July 23, 2020 has made the first bond coupon payment to its investors in the amount of EUR 13.5 million. Martin Gauss, Chief Executive Officer of airBalt...

EU Commission approves Dutch plans to provide €3.4 billion in urgent liquidity support to KLM

The European Commission has approved, under EU State aid rules, a €3.4 billion Dutch aid measure consisting of a State guarantee on loans and a subordinated State loan to KLM to provide urgent liquidity to the company in the context of the coronavirus outbreak. The measures were approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020. Executive Vice-Pres...

To meet cargo demands during covid19 crisis Hi Fly converts A380

Hi Fly has created extra cargo capacity by temporarily removing economy seats of some of its aircraft, including the iconic A380 “Save the Coral Reefs”, to meet the high cargo demands during covid-19 crisis. The A380, with its large extra wide cabin and three deck can offer the largest volume for cargo transportation amongst all the passenger aircraft used for cargo, aproximatel...

Jet Linx purchases Meridian Aircraft Management and Air Charter

Jet Linx continued its strategic expansion in the New York, New Jersey and Connecticut tri-state region by acquiring Meridian Aircraft Management and Air Charter business. Meridian is a full-service private aviation company headquartered at Teterboro Airport. While the terms of the transaction were not disclosed, the acquisition encompasses a fleet of 23 long range and short range privat...

Second set of measures for Lufthansa restructuring program

The Executive Board of Deutsche Lufthansa AG has approved a second set of measures as part of its overall restructuring program in the wake of the coronavirus crisis. With the first set of measures launched in early April it had been decided, among other things, to reduce the fleet by 100 aircraft and not to resume the flight operations of Germanwings. Following the approval by Lufthansa shareh...

European Commission Approves airBaltic Equity Increase of 250 Million Euro

The European Commission on July 3, 2020, under EU State aid rules, has approved the Latvian government's investment of €250 million into the equity of the Latvian airline airBaltic to contribute to overcome the economic crisis caused by COVID-19 and resume growth. The European Commission points out that EU Member States introduced various travel restrictions in the second qua...

Signature Flight Support Italy deal completed between SEA Prime and SFS UK

SEA Prime announces the sale of its 40% stake in Signature Flight Support Italy (SFS Italy) to the majority shareholder Signature Flight Support (SFS), who now owns 100% of the Company. Chiara Dorigotti, the CEO of SEA Prime commented: “We are glad to announce this deal with Signature Flight Support, which we see as the natural development of a successful 4-year partnership....

Recession in the Caribbean

Cdr. Bud Slabbaert When there are reports on ‘Latin America & Caribbean’, one has to review them carefully and with some skepticism, to avoid coming to false conclusions or statements; no matter whether the reports are positive or negative. The economies of the large South American countries are simply not the same as those of the small Caribbean islands. It is said t...

Cathay Pacific recapitalisation financing of USD5bn

Cathay Pacific announced a recapitalisation plan that will help it maintain its competitiveness and operations, while continuing its commitments to Hong Kong as an international aviation, financial and commercial hub. This three-part plan is designed to provide Cathay Pacific with sufficient funds to withstand the industry-wide downturn, and a stable financial platform from which it will be a...

Lilium welcomes Baillie Gifford as new investor

Lilium welcomed respected investment management partnership, Baillie Gifford, as a new investor. Known for their track record of investing in high-impact technology companies such as Amazon, Tesla, Airbnb, Spotify and SpaceX, the partnership has invested $35m in the company, extending the current funding round to more than $275m, and total investment to date to more than $375m. The news co...

Austrian Airlines Receives Financial Aid from the Federal Government and Lufthansa

EUR 150 million in state aid to cover coronavirus-related losses; ecological requirements imposed EUR 150 million injection of equity capital by Lufthansa EUR 300 million as bank loans to be repaid by 2026 Rescue package designed to ensure maintaining flight hub to CEE and long-haul flight connections The Austrian Federal Government, Lufthansa and Austrian Air...

Commercial aircraft market to focus on innovative digital solutions and leasing

Frost & Sullivan’s recent analysis, Post-pandemic Growth Opportunity Analysis of the Global Commercial Aircraft Market, presents updates to the 2020 outlook and growth opportunities for original equipment manufacturers (OEMs), the supply chain, and aftermarket suppliers. Under the conservative forecast scenario, the market is estimated to witness a dramatic drop in revenues, reachin...

Safran reports on business developments of first months of 2020

The Annual General Meeting of Shareholders of Safran met behind closed doors at the Company's head office, under the chairmanship of Ross McInnes, Chairman of the Board of Directors. The Annual General Meeting was broadcast live on Safran's website and relayed via conference call. Ross McInnes, Chairman of the Board of Directors, and Monique Cohen, Chair of the Appointments an...

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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...