Subscription Required

 

SpeedNews - November 1, 2024 is part of our SpeedNews subscription.

Subscribe now to read this alert, plus receive full coverage of key developments in commercial and business aviation.

Already a subscriber to SpeedNews or a content package that includes SpeedNews? Login

 

Did you know?  Aviation Week has won top honors multiple times in the Jesse H. Neal National Business Journalism Awards, the business-to-business media equivalent of the Pulitzer Prizes.

 

 

Aerospace

article

AURA AERO

Oct 26, 2024
AURA AERO was named a laureate of EASA-finance Innovation Fund program, accessing €95m grant for development.
article

DISPELIX

Oct 26, 2024
DISPELIX, Finland was selected by Collins Aerospace to provide AR waveguide (near-eye/head-up) displays for its avionics products.
article

DIDSBURY

Oct 26, 2024
DIDSBURY launched global distribution/services partnership with Dedienne Aerospace, Field Intl., and Hydro Systems for its lifting/handling equipment.
article

MOODY'S

Oct 26, 2024
MOODY'S says IAM rejection of Boeing contract offer has little bearing on its Baa3 rating. It believes deal will be reached, whereby company could accommodate union's objective of 40% compensation increase but not the pension demand.
article

CFM INTERNATIONAL

Oct 26, 2024
CFM INTERNATIONAL delivered 365 LEAP engines in 3Q24 vs 389 in 3Q23, citing ongoing supply chain issues.
article

SAFRAN GROUP

Oct 26, 2024
SAFRAN GROUP had €6.6b revenues in 3Q24 vs €5.8b in 3Q23; Propulsion increased 9.2% (civil aftermarket up 20.5%) and Aircraft Interiors increased 28.4%, although still 4% down from 2019. Revenue for year is up 17.4%.
article

BOEING

Oct 28, 2024
BOEING launched concurrent offerings of 90m shares of common stock (par value $5 per share) and $5b depositary shares (1/20th interest per share; par value $1 per share); offering includes options for 13.5m shares/$750m depositary shares, increasing total raise to $19b. Goldman Sachs, BofA, Citigroup and J.P. Morgan are lead bookrunning managers.
article

JOBY AVIATION

Oct 28, 2024
JOBY AVIATION priced public offering of 40m shares, plus options for 6m, for $5.05 each to raise $202m.
article

L3HARRIS TECHNOLOGIES

Oct 28, 2024
L3HARRIS TECHNOLOGIES had $400m net income on $5.3b revenues in 3Q24 vs $383m on $4.9b in 3Q23.
article

GENERAL ATOMICS AEROTEC SYSTEMS (GA-ATS)

Oct 28, 2024
GENERAL ATOMICS AEROTEC SYSTEMS (GA-ATS) certified its in-house Do228 flight simulator in Oberpfaffenhofen to FTD Level 2.
article

AMTRA AERO COMPONENT SOLUTIONS

Oct 28, 2024
AMTRA AERO COMPONENT SOLUTIONS acquired ex-Volaris A319-100 (3069) for part out by end November 2024.
article

THALES AVIONICS

Oct 28, 2024
THALES AVIONICS was selected by Qatar Airways to supply FlytEDGE cloud-native IFE system for its A321NXs.
article

ABL AVIATION

Oct 28, 2024
ABL AVIATION arranged €170m senior secured finance facility from KfW IPEX-Bank and NatWest for SWISSPORT INTERNATIONAL for electric GSE.
article

BOEING

Oct 29, 2024
BOEING priced/upsized planned concurrent offerings to (1) 112.5m shares of common stock (par value $5 per share) at $143 each and (2) $5b depositary shares, representing 1/20th interest per share (par value $1 per share) at $50 each; it is projecting net proceeds of $20.72b before over-allotments.
article

PANASONIC AVIONICS

Oct 29, 2024
PANASONIC AVIONICS was selected by Riyadh Air to supply Astrova IFE system for its 39 787-9s on order.
article

ZEROAVIA and POWERCELL

Oct 29, 2024
ZEROAVIA and POWERCELL agreed to develop intermediate/high-temp fuel cells for large fixed-wing aircraft and rotorcraft.
article

CRANE AEROSPACE & ELECTRONICS

Oct 29, 2024
CRANE AEROSPACE & ELECTRONICS earned $55m on $239m sales in 3Q24 vs $40m on $207m in 3Q23; y-o-y backlog rose 23%.
article

THYSSENKRUPP AEROSPACE

Oct 30, 2024
THYSSENKRUPP AEROSPACE secured 2-year contract extension with SKF to supply steel, stainless steel, titanium, aluminum and copper at Lons le Saunier, France. It delivered 187 tons to SKF in 2023 (180 tons so far in 2024).
article

MOTION INDUSTRIES

Oct 30, 2024
MOTION INDUSTRIES, AL agreed to acquire Canada's STONEY CREEK HYDRAULICS (hydraulic/pneumatic cylinders).
article

EVE AIR MOBILITY

Oct 30, 2024
EVE AIR MOBILITY secured $50m loan from Citibank, increasing its 2Q24 pro-forma liquidity to ~$480m to support R&D.
article

SKF

Oct 30, 2024
SKF, Sweden sold its ring and seal operation in Hanover, PA for $220m to focus on its core aerospace (engine and aerostructure bearings) business.
article

AIRBUS

Oct 30, 2024
AIRBUS posted €983m net profit on €15.7b revenues in 3Q24 vs €806m on €14.9b in 3Q23; Commercial Aircraft earned €904m (vs €783m) on 5% higher revenues and says it still plans to deliver ~770 aircraft in 2024, meaning 273 in 4Q24.
article

AIRBUS

Oct 30, 2024
AIRBUS says A220 program continues towards a monthly production rate of 14 aircraft in 2026; A320 Family program continues to ramp up towards a rate of 75 aircraft per month in 2027; A330 production is stabilizing at four per month; and A350 production targeted at rate of 12 per month in 2028. It is actively managing supply chain challenges.
article

IBERIA

Oct 30, 2024
IBERIA took delivery of the first A321XLR (11504) with LEAP-1As from Airbus; aircraft has182 seats in a 2-class layout.
article

EMBRAER

Nov 01, 2024
EMBRAER signed MOU with Moroccan Govt to launch potential joint projects in commercial aviation, defense and urban air mobility.
article

EMBRAER-CAE TRAINING SERVICES

Nov 01, 2024
EMBRAER-CAE TRAINING SERVICES was selected by Eve to provide eVTOL pilot, technician and ground handling training.
article

APPAREO AVIATION

Nov 01, 2024
APPAREO AVIATION, ND released TSO-certified Stratus Power Max USB charging unit w/ 60 watts of charging power.
article

PAN AM FLIGHT ACADEMY

Nov 01, 2024
PAN AM FLIGHT ACADEMY added A330 Level D full-flight simulator (with CAE Tropos visuals and Moog Electric Motion technology) at Miami.

Air Transport

article

ABRA GROUP

Oct 26, 2024
ABRA GROUP (GOL/Avianca/Wamos) secured $1.25b financing, including $740m loan from Castlelake, to repay debt.
article

GA TELESIS

Oct 26, 2024
GA TELESIS agreed to purchase 23 V2500-powered A320ceos/A321ceos (DOM 2014-2019) from Spirit Airlines.
article

XEN AVIATION

Oct 26, 2024
XEN AVIATION, Guyana ordered a 12-pax Britten-Norman BN2T-4S Islander for startup of regional air services.
article

VMIC

Oct 26, 2024
VMIC, Korea managed lease extension (with EMIRATES)/refinancing for a 777-300ER on behalf of a domestic institution.
article

AZUL

Oct 28, 2024
AZUL completed agreements with its aircraft lessors and signing of support agreement with its main creditors to secure up to US$500m in new investments. It has renegotiated 98% of its obligations with lessors and OEMs, resulting in $550m in finalized agreements, plus $400m in additional financing and potential to reduce debt by another $800m.
article

DAE

Oct 28, 2024
DAE agreed to acquire 10 narrowbodies (leased to four airlines) from unidentified seller(s) for $500m, plus equity interests in 36 managed aircraft from existing investors/new investors; deals are expected to close by end 2024.
article

SMARTLYNX AIRLINES

Oct 28, 2024
SMARTLYNX AIRLINES received its Foreign Air Operator Certificate (FAOC) from the FAA to operate in US.
article

AEROMEXICO

Oct 28, 2024
AEROMEXICO launched offering of senior secured notes for general corporate purposes and to repay $662.5m in debt.
article

NORWEIGIAN

Oct 28, 2024
NORWEGIAN says capacity growth for 2025 will slow down, vs forecasted 13% for 2024, due to aircraft delivery delays from Boeing, which are expected to worsen. It plans to have 90 aircraft for summer 2025 vs current 86 (22 737 MAXs).
article

LATAM

Oct 28, 2024
LATAM ordered 10 more 787-9s, and optioned five, to increase Dreamliner fleet (now 37) to 52 aircraft by 2030.
article

BREEZE AIRWAYS

Oct 28, 2024
BREEZE AIRWAYS took delivery of new A220-300 (55310) on lease from AerCap, increasing A220 fleet to 31.
article

THAI AIRWAYS

Oct 28, 2024
THAI AIRWAYS took delivery of ex-Virgin Atlantic A330-300 (1329) on lease from CDB Aviation, completing deal for two.
article

IBOM AIR

Oct 28, 2024
IBOM AIR took delivery of two ex-China Express CRJ900LRs (15280/15281) on lease from TAFL (Formidion Aviation).
article

AVION EXPRESS

Oct 28, 2024
AVION EXPRESS leased ex-British Airways A321-200 (2653) with V2500s from BBAM.
article

AIR ARABIA

Oct 28, 2024
AIR ARABIA leased ex-Alaska A320-200 (5058) with CFM56s from Aviation Capital Group.
article

MARABU AIRLINES

Oct 28, 2024
MARABU AIRLINES, Estonia leased ex-IndiGo A320neo (8310) with GTFs from Jackson Square Aviation.
article

LUFTHANSA GROUP

Oct 29, 2024
LUFTHANSA GROUP had €1.1b net income on €28.1b revenues in 3Q24 vs €1.2b on €26.7b in 3Q23; pax airlines business segment earned €1.2b on €8.8b vs €1.3b on €8.5b and ended quarter with 731 aircraft, including six A380s.
article

ETIHAD AIRWAYS

Oct 29, 2024
ETIHAD AIRWAYS plans July 17 to begin twice-weekly Abu Dhabi-Al Alamein, Egypt (A320).
article

AAPA

Oct 29, 2024
AAPA members carried 29.2m pax in September, up 18.8% vs Sept 2023 (down 2.5% vs Sept 2019); cargo rose 8.9%.
article

JETBLUE

Oct 29, 2024
JETBLUE had $60m net loss on $2.4b revenues in 3Q24 vs $153m loss on $2.4b in 3Q23; it met/exceeded all guidance.
article

FRONTIER AIRLINES

Oct 29, 2024
FRONTIER AIRLINES had $26m net income on $935m revenues in 3Q24 vs $32m loss on $883m in 3Q23; y-o-y CASM dropped 6%.
article

FINNAIR GROUP

Oct 29, 2024
FINNAIR GROUP had €57.4m net income on €818.3m revenues in 3Q24 vs €52.5m on €817.3m in 3Q23; traffic rose 3%.
article

SIDERAL LINHAS AEREAS

Oct 29, 2024
SIDERAL LINHAS AEREAS, Brazil has acquired ex-LOT 737-700 (30651) and ex-KaiserAir 737-500 (25065).
article

CONGO AIRWAYS

Oct 29, 2024
CONGO AIRWAYS agreed to wet-lease (ACMI) a 737NG from KlasJet through end of April 2025.
article

IDEAWORKSCOMPANY

Oct 29, 2024
IDEAWORKSCOMPANY is projecting global ancillary revenues of $148.4b in 2024 (14.9% of total) vs $117.9b in 2023.
article

AERCAP

Oct 30, 2024
AERCAP had $375m net income on $1.95b revenues in 3Q24 vs $1.1b on $1.89b in 3Q23; it has owned/managed/committed fleet of 3,491 aircraft/engines/helicopters vs 3,451 a year ago and saw 92% extension rate for used aircraft.
article

AVOLON

Oct 30, 2024
AVOLON had $120m net income on $677m lease revenues in 3Q24 vs $97m on $588m in 3Q23; it has owned/managed/committed fleet of 1,019 aircraft, excluding proposed acquisition of Castlelake Aviation, vs 897 a year ago.
article

AMERICAN AIRLINES

Oct 30, 2024
AMERICAN AIRLINES finalized contract extension with TWU-IAM Association-represented technical/fleet service workers.
article

LUFTHANSA SYSTEMS

Oct 30, 2024
LUFTHANSA SYSTEMS was selected by Azerbaijan Airlines to provide NetLine/Sched (scheduling) and NetLine/Slot (slot management) solutions.
article

AIR TRANSAT

Oct 30, 2024
AIR TRANSAT sold four spare GTFs to Rolls-Royce & Partners Finance Engine Leasing for $85m and leased them back.
article

AIR CANADA

Oct 30, 2024
AIR CANADA plans January 15 to resume daily Vancouver-Beijing (787).
article

QANTAS GROUP

Oct 30, 2024
QANTAS GROUP retired its last 717-200 (55194). It was operating 20, which now being replaced by 29 A220s.
article

RIYADH AIR

Oct 30, 2024
RIYADH AIR ordered 60 A321neos on top of 72 787-9s ordered/optioned in 1Q23 in preparation for startup in 2025.
article

ALLIED AIR

Oct 30, 2024
ALLIED AIR, Nigeria purchased AEI-converted 737-800SF (30146; ex-Garuda) from BlackRock Aviation Services.
article

FALKO

Oct 30, 2024
FALKO completed purchase of 11 E1-Jets (leased to LOT) from NAC as part of deal for 24 (18 now completed).
article

AVIATION CAPITAL GROUP

Oct 30, 2024
AVIATION CAPITAL GROUP closed its inaugural ($550m) sustainability-linked loan from syndicate of lenders.
article

SOUTHWEST AIRLINES

Oct 30, 2024
SOUTHWEST AIRLINES plans June 5 to begin daily nonstop Ontario, CA-Baltimore/Washington International (737).
article

QANTAS

Oct 30, 2024
QANTAS unveiled cabin refurbishment program for 10 A330-200s that includes new RECARO CL3810 economy class seats.
article

DAE

Oct 30, 2024
DAE had $162m net income on $337.9m revenues in 3Q24 vs $59.6m on $319m in 3Q23; it now has owned/managed/committed fleet of 500 aircraft vs 495 a year ago and $4b of available liquidity vs $4.1b on January 1.
article

ALLEGIANT AIR

Nov 01, 2024
ALLEGIANT AIR lost $7m on $549.1m revenues in 3Q24 vs $5.8m profit on $565.4m in 3Q23 and now has 122 aircraft.
article

LAX

Nov 01, 2024
LAX handled 6.2m pax in September, up 0.3% vs September 2023; international traffic was up 2.6%.
article

RIYADH AIR (PIF)

Nov 01, 2024
RIYADH AIR (PIF), which plans mid-2025 startup, closed inaugural self-arranged Islamic Revolving Credit Facility for SAR 3b with eight banks: Arab National Bank, Al Rajhi Bank, Gulf International Bank, Emirates NBD, Riyad Bank, Banque Saudi Fransi, Saudi Awwal Bank and Saudi National Bank; facility includes a committed accordion option for SAR 2b.
article

ALASKA AIR GROUP

Nov 01, 2024
ALASKA AIR GROUP had $236m net income on $3.1b in 3Q24 vs $139m on $2.8b in 3Q23. It says Hawaiian's EBITDAR turned positive in 2Q24 and pretax results are expected to approach break even in 4Q24 with impact of A321 GTF engine-driven groundings fully resolved and majority of A330 Amazon freighter and 787 new fleet startup related costs completed.
article

RENEGADE AIR

Nov 01, 2024
RENEGADE AIR, Kenya leased ex-Ravn Alaska Dash 8-100 (392) from Avmax Aircraft Leasing.
article

FTAI AVIATION

Nov 01, 2024
FTAI AVIATION had $86.5m net profit on $466m revenues in 3Q24 vs $41.3m on $291m in 3Q23 (lease revenue +43%).
article

UNITED NIGERIA

Nov 01, 2024
UNITED NIGERIA wet-leased E190 (163) from Marathon Airlines, which leases aircraft from Azorra.
article

ARMENIA AIRWAYS

Nov 01, 2024
ARMENIA AIRWAYS agreed to lease ex-Texel Air 737-300SF (27459) from Kahala Aviation Leasing.
article

JD AIRLINES

Nov 01, 2024
JD AIRLINES, China leased 737-800BCF (30697; ex-China Southern) from AerCap.
article

IATA

Nov 01, 2024
IATA reports y-o-y global pax traffic rose 7.1% in September on 5.8% higher capacity; cargo rose 9.4%.
article

STRATOS

Nov 01, 2024
STRATOS executed sales of two A320-200s (5653/5372) off-lease to AVION EXPRESS, 737-300F (27459) to undisclosed buyer from Texel Air and 777-300ER (38665; leased to AIR FRANCE) to investors managed by ALTAVAIR.
article

FINNAIR

Nov 01, 2024
FINNAIR is refurbishing cabins of its 12 100-pax E190s with new economy/business class seats; updates on seven aircraft are planned for winter season 2024-2025 (first completed), with remaining five set for winter 2025-2026.
article

AERGO CAPITAL

Nov 01, 2024
AERGO CAPITAL purchased A320-200 (5692; leased to IBERIA) from SMBC Aviation Capital acting as servicer.
article

IAT LEASING

Nov 01, 2024
IAT LEASING (on behalf of US investor partner) acquired A330-300 (789; leased to AER LINGUS) from Castlelake.

Business Aviation

article

HONDA AIRCRAFT

Oct 28, 2024
HONDA AIRCRAFT secured FAA certification for HondaJet Elite II autothrottle for use with Garmin G3000 avionics.
article

GULFSTREAM AEROSPACE

Oct 28, 2024
GULFSTREAM AEROSPACE has FAA STC to install Starlink inflight connectivity system on G650 and G650ER.
article

TRU SIMULATION

Oct 28, 2024
TRU SIMULATION secured Level D certification from Australia for King Air B200/B300 full-flight simulator for delivery to Royal Flying Doctor Service.
article

PIPER AIRCRAFT

Oct 29, 2024
PIPER AIRCRAFT secured type certification from EASA, Brazil and Australia for PT6A-52-powered M700 FURY.
article

AERODATA

Oct 29, 2024
AERODATA, Germany has EASA STC to install its GPS anti-jamming and anti-spoofing solution for integration into Garmin G5000 avionics on Cessna Citation Latitude business jets; it plans to add additional platforms in future.
article

NETJETS and SIGNATURE AVIATION

Oct 30, 2024
NETJETS and SIGNATURE AVIATION broke ground on FBO (terminal/service hub/two hangars) at Las Vegas for 2027.
article

BOMBARDIER

Nov 01, 2024
BOMBARDIER delivered the 100th Challenger 3500 (fastest super-midsize business jet to reach 100); first was in 2022.
article

EXECUJET HAITE

Nov 01, 2024
EXECUJET HAITE completed 96-month inspections simultaneously on three Legacy 650s at Tianjin.

Defense

article

CZECH REPUBLIC

Oct 26, 2024
CZECH REPUBLIC finalized contract to acquire two NATO-standard C-390s.
article

TATA ADVANCED SYSTEMS and AIRBUS

Oct 28, 2024
TATA ADVANCED SYSTEMS and AIRBUS inaugurated C295 assembly line in Vadodara, India to deliver 40 aircraft from facility to the Indian Air Force as part of order for 56 (16 delivered from FAL in Seville, Spain) to replace legacy Avro fleet.

MRO

article

STANDARDAERO

Oct 26, 2024
STANDARDAERO renewed its engine service agreement with Pinnacle Air Network (18 FBOs/MROs) for five years.
article

KLASJET

Oct 26, 2024
KLASJET was certified by EASA to perform 737NG line maintenance.
article

RAMCO SYSTEMS

Oct 26, 2024
RAMCO SYSTEMS, India released version 6.0 of its aviation management software to provide key AI enhancements for engine MROs and M&Es.
article

TAP M&E

Oct 26, 2024
TAP M&E, Portugal was approved for LEAP-1A maintenance at Lisbon; it plans to open slots in 2025.
article

WAYGATE TECHNOLOGIES and GE AEROSPACE

Oct 28, 2024
WAYGATE TECHNOLOGIES and GE AEROSPACE developed AI-assisted engine borescope solution to perform HPC inspections for GEnx and LEAP.
article

NEXT LEVEL AVIATION (NLA)

Oct 29, 2024
NEXT LEVEL AVIATION (NLA), FL extended USM consignment agreement with Pratt & Whitney Commercial Serviceable Assets (CSA) to market/sell used serviceable engine accessories for another three years.
article

LUFTHANSA TECHNIK

Oct 29, 2024
LUFTHANSA TECHNIK earned €168m in 3Q24 (vs €173m in 3Q23) on 9% higher revenues (third party rose 7.4%). It plans to invest >€1b in the coming years in all three world regions (Americas, Asia-Pacific and EMEA) to support demand.
article

AVIATOR

Oct 29, 2024
AVIATOR (Avia Solutions Group) has Icelandair contract to provide ground support at Copenhagen/Stockholm/GÖteborg.
article

SAFRAN

Oct 29, 2024
SAFRAN announced >€1b investment plan to develop its MRO network to support anticipated demand for LEAPs; project comprises construction of additional 120,000 sq meters of dedicated LEAP facilities at Brussels, Hyderabad, Querétaro, Casablanca, Villaroche and Saint-Quentin-en-Yvelines to increase annual capacity to 1,200 shop visits by 2028, plus adding new turbine blade repair facility at Rennes and possibly acquiring COMPONENT REPAIR TECHNOLOGIES, OH.
article

STANDARDAERO

Oct 30, 2024
STANDARDAERO was selected by PLAY to provide LEAP-1A Performance Restoration Shop Visit (PRSV) support at San Antonio under CFM branded services. Willis Asset Management (WAML) advised PLAY on the selection process.
article

HAECO GROUP and COMAC

Nov 01, 2024
HAECO GROUP and COMAC signed MOU to collaborate on ARJ21/C919 airframe, engine and component services.

Who’sNews

article

WHO'SNEWS: AIRCRAFT TRADING AND CAPITAL MARKETS

Oct 26, 2024
Gerry Butler to Head of Aircraft Trading and Capital Markets of Avation, Singapore.
article

WHO'SNEWS: SIFCO INDUSTRIES

Oct 28, 2024
Jennifer Wilson Skuhrovec to Chief Financial Officer of SIFCO Industries, Cleveland.
article

WHO'SNEWS: AMTRA AERO

Oct 28, 2024
Pablo Aguirre was promoted to President of AMTRA Aero, Tulsa; David Gantner was named President of AMTRA Aero Component Solutions.
article

WHO'SNEWS: CRESTONE AIR PARTNERS

Oct 28, 2024
Alan Kehoe to Vice President of Marketing & Trading of Crestone Air Partners, Denver.
article

WHO'SNEWS: GULFSTREAM AEROSPACE

Oct 28, 2024
Kyle Bonda to Regional Sales Manager-United States East Coast of Gulfstream Aerospace.
article

WHO'SNEWS: CHALLENGE AIRLINES

Oct 29, 2024
Udi Sharon to Chief Executive Officer of Challenge Airlines IL, Israel.
article

WHO'SNEWS: LATAM AIRLINES GROUP

Oct 29, 2024
Roberto Alvo, CEO of LATAM Airlines Group, was elected President of ALTA, Panama.
article

WHO'SNEWS: XTI AEROSPACE

Oct 30, 2024
Jennifer Gaines to Chief Legal Officer of XTI Aerospace, CO.
article

WHO'SNEWS: AIRBUS

Oct 30, 2024
Lars Wagner, CEO of MTU Aero Engines, was named next CEO-Commercial Aircraft of Airbus, succeeding Christian Scherer (effective 2025).
article

WHO'SNEWS: GAMA

Nov 01, 2024
Carsten Hoyt to General Counsel of GAMA, Washington, DC; Andy Phillips to Manager of Airworthiness and Regulatory Affairs.
article

WHO'SNEWS: GOAL

Nov 01, 2024
Joanne O’Connor to Director-Asset Management of GOAL, Germany; Guilherme Guerra was named Director-Sales & Marketing.