Ireland-based lessor AerCap, reporting $1.15 billion in net income for 2019, said its prospects are fair for 2020, although the continuing Boeing 737 MAX grounding is having an adverse effect on its figures.
Crediting its multiyear transformation program, the Singapore Airlines (SIA) Group posted a 10.9% year-on-year (YOY) profit growth for its fiscal 2019/2020 third quarter (Q3), earning S$315 million ($233.5 million) for the period ending Dec. 31, 2019.
With the aerospace manufacturing sector expecting Boeing to restart 737 MAX production as early as next month or April, one widely followed industry consultant said it will take up to two years to clear out the stored inventory of narrowbody aircraft and fuselages.
A new U.S. low-cost airline being launched by a former United Airlines executive has raised $125 million and expects to start service before the end of the year.
Delta Air Lines plans to spend $1 billion over the next decade to “mitigate” all emissions from its business, investing in a wide range of initiatives to reduce or eliminate carbon emissions throughout its business.
The COVID-19 outbreak has already led to an estimated $4 to $5 billion reduction in gross operating revenues for airlines across the globe, according to ICAO.
Mergers and capacity reductions among Chinese airlines may result from the COVID-19 outbreak, as the Civil Aviation Administration of China (CAAC) said it will support reorganization of the industry as part of its response to the crisis.
Lessor Aircastle’s acquisition by Marubeni Corp. and Mizuho Leasing is “progressing as expected,” Aircastle CEO Michael Inglese said ahead of a Mar. 6 shareholder vote on the proposed tie-up.
Saudi Arabian Airlines Group (Saudia) has appointed Ibrahim Koshy as its new CEO, succeeding Jaan Albrecht whose contract expired at the beginning of the year.
Singapore Technologies (ST) Engineering’s aerospace sector is looking to add value and synergy to its MRO capabilities by providing more customized cabin interior design solutions.
Qantas has reportedly reiterated that it needs to reach a deal with its pilots by the end of March so it can finalize an order for Airbus A350-1000s to operate new ultra-long-haul routes.
Singapore Technologies (ST) Engineering has signed a license agreement with CFM International to provide MRO services for the Boeing 737 MAX’s LEAP-1B engine.
Bombardier will continue mulling a split-up of the Canadian train and business jet maker, with the company’s chief executive sounding like he favors staying in the latter business, according to comments made during a Feb. 13 teleconference.
Albany International, the provider of 3D-woven composite fan blades to Safran for LEAP aircraft engines, has let go workers as it tries to adjust to lower demand related to the Boeing 737 MAX production halt, the company’s new executive team told analysts.
Airbus needs another 18 months or so to catch up with A320neo family deliveries and aims to produce 65-67 per month from 2023, up from 63 in 2021, company CEO Guillaume Faury said.
