Finance and economy
3,201 news found
AirlinesITA Airways: code-share flights with Lufthansa Group Airlines
The carrier announced the launch of ticket sales
ITA Airways, the Italian reference carrier, announces the launch of ticket sales for code-share flights with five airlines from the Lufthansa Group (Lufthansa, SWISS, Austrian Airlines, Brussels Airlines,... more
AirlinesFlydubai announced financial results 2024
It carries 15.4 million passengers
Flydubai reported today record-breaking annual results for its financial year ending 31 December 2024.The Dubai-based carrier marks its strongest-ever financial performance in its 15-year history, reporting... more
Finance and economyP&W awarded F119 engine contract for USAF's F-22 aircraft fleet
A three year agreement valued up to USD 1,5 bn
Pratt & Whitney, an RTX business, secured a three-year contract valued up to $1.5 billion to sustain F119 engines, which power the US Air Force's F-22 fighter jets. The agreement will improve readiness... more
AerospaceBoD of Leonardo approved the preliminary results 2024
Update on the Industrial Plan will be presented on March 11
The Board of Directors of Leonardo reviewed yesterday the preliminary results for the year ended December 2024.Results above or in line with 2024 GuidanceNew Orders increased to €20.9 billion (+12.2% c... more
AirportsDnata: Airport Handling launches operations at Rome-Fiumicino Airport
AH’s over € 20 million investment includes advanced electric vehicles
Airport Handling, part of leading global air and travel services provider dnata, has successfully launched operations at Rome-Fiumicino Airport. The company will support the safe and smooth operations... more
AerospaceAirplanes and helicopters. Airbus reports Full-Year (FY) 2024 results
And provided guidance for 2025
Airbus reported consolidated Full-Year (FY) 2024 financial results and provided guidance for 2025.The highlights are:766 commercial aircraft delivered Revenues € 69.2 billion; EBIT Adjusted € 5.4 bill... more
Civil aviationPilatus aircraft: 2024 a positive year despite challenges
Signed a contract for 19 PC-21s and simulators with the Royal Canadian Air Force
2024 was a very successful year for Pilatus. Despite ongoing challenges, it was able to hand over 153 aircraft to its customers thanks to continued high demand. With total sales of 1.633 billion Swiss... more
AirlinesSouthwest Airlines staff reductions (2): message by its CEO Jordan
Benefits and bonuses for laid-off workers; support for offboarding and outplacement phases; cuts from the end of April
The workforce reduction plan announced by Southwest Airlines (see AVIONEWS) was accompanied by a second press release in which Robert (Bob) Jordan, President, CEO and Vice-President of the Board of Directors,... more
AirlinesSouthwest Airlines initiates staff reduction: cuts approximately 1,750 positions
The carrier will focus almost exclusively on corporate and management roles
Southwest Airlines announced yesterday a reduction in its staff aimed at streamlining the company structure and increasing organizational agility as part of an ambitious transformation program. The move... more
Finance and economyEmbraer intends to invest USD 3.5 Billion by 2030
The announcement during a ceremony with authorities
Embraer announced yesterday its plans to invest approximately USD 3.5 billion by 2030 during the ceremony for "Mission 6 of the New Industry Brazil (Nova Indústria Brasil/NIB) - Technologies of interest... more
AirportsPurchase proposals for Gesap (Palermo): there are reportedly four groups in the field
Even international investors are banking on the attractiveness of its airport, which is growing rapidly
According to confidential rumours that reached AVIONEWS, there are four offers for the purchase of Gesap, the company that manages Palermo airport (Sicily), advanced by four groups:- One from Argentina:... more
AirportsChinese markets up: raising consumption drive Shanghai and Shenzen
Strong contribution from Lunar New Year: airports and train stations stormed by travellers
Chinese Stock Exchanges closed the session with positive results, overcoming initial uncertainties. The Shanghai Composite index gained 1.01% to stand at 3,303.67 points, while the Shenzhen Composite rose... more
AirlinesJal Group: results for the 3Q of FY ending March 2025
It announced changes to the BoD and executive officers
The JAL Group announced yesterday the consolidated financial results for the third quarter of the fiscal year ending March 2025 (April 1, 2024 - December 31, 2024).Summary: - Revenues and profits increased... more
Civil aviationNBAA issues statement on pause for Canada and Mexico tariffs
Following the Trump administration’s announced intention
The National Business Aviation Association (NBAA) issued yesterday the following statement following the Trump administration’s recently announced intention to pause planned tariffs for Canada and Mexico.“Business avia... more
AirlinesAna Holdings financial results: 9m ended December 31, 2024
It has revised and risen its full-year forecasts
ANA HOLDINGS INC. today reports its financial results for the nine months ended December 31, 2024.The highlights are: ANA HOLDINGS INC posted revenues of 1,702.7 billion yen and increased passenger volume,... more
DefenseEDF: to develop next generation defence technologies and innovation
European Commission has adopted the fifth annual work programme for over EUR 1 bn
The European Commission (EC) has adopted yesterday the fifth annual Work Programme under the European Defence Fund (EDF), allocating over €1 billion to defence collaborative research and development p... more
AerospaceBoeing reports fourth quarter results 2024
Delivered 348 airplanes last year and recorded 279 orders
Boeing reports 4Q results.The highlights are:Fourth Quarter 2024Finalized the International Association of Machinists and Aerospace Workers (IAM) agreement and resumed production across the B-737, B-767... more
AirlinesLufthansa considers takeover of Air Europa
The German carrier is targeting Latin American routes, but not only...
The rumors about Lufthansa's interest in a minority stake in Air Europa are a further sign of its consolidation in the aviation sector, especially in Europe. Lufthansa, already one of the continent's leading... more
Finance and economyPiaggio Aerospace: preliminary contract signed
For the transfer of the business complexes to a Turkish company
The preliminary contract for the transfer of the business complexes of Piaggio Aero Industries and Piaggio Aviation –the two companies operating under the Piaggio Aerospace brand- to the Turkish Company B... more
Civil aviationBoeing reports preliminary fourth quarter results
Impacted by the IAM work stoppage
The Boeing Company announced yesterday it will recognize impacts to its financial results related to the IAM (International Association of Machinists and Aerospace Workers) work stoppage and agreement,... more
AirlinesAmerican Airlines reports 4Q and full year 2024 financial results
Achieved total debt reduction goal of $15 billion from peak levels
American Airlines Group Inc. reported yesterday its fourth-quarter and full-year 2024 financial results, including:Record fourth-quarter revenue of $13.7 billion and record full-year revenue of $54.2 billionFourth-quarter... more
Finance and economyEU-US duties. Tajani: "Dialogue is the best way, without giving up on protecting our interests"
The statement on the sidelines of the agreement on air transport between Italy and Mongolia
The Italian Foreign Minister Antonio Tajani said today that cooperation and dialogue are the most effective tools to address challenges in relations between the European Union and the USA. The observation... more
AirlinesRyanair calls for abolition of municipal surcharge in Italy
In exchange for the elimination of the tax, it proposes significant investments
For Ryanair, Summer 2025 is expected to be an "important" season but without growth, with "flat" traffic. This is due to the impact of the municipal additional tax, which weighs 6.5 euros per passenger.... more
AirportsSteady growth for Belgrade Airport in 2024
Significant increase in flights and passengers
Belgrade "Nikola Tesla" Airport recorded a solid performance in 2024 (as of December 31), with almost 8.4 million passengers, marking a 5.3% increase compared to 2023 and a significant +36% compared to... more
AirlinesITA Airways (2). Lufthansa Group finalizes 41 percent stake
Michael Trestl (39) will be responsible for the holistic integration
The Lufthansa Group will provide further information at a press conference in Rome on 03 February, 2025 more
AirlinesAvolon completes acquisition of Castlelake Aviation
Its portfolio thus grows to 1129 aircraft
Ireland-based Avolon, a leading global aviation leasing finance company, today announced the completion of its acquisition of Castlelake Aviation from Castlelake LP. The $5 billion transaction was announced... more
AirlinesRyanair will reduce the air traffic in Summer 2025 with Spain
-18%: loss of 12 routes and 800,000 seats due to che airport costs by Aena
The low-cost cancels flights in two airports and reduces traffic in other five regional ones more
AirlinesAzul executes non-binding MoU with GOL
According to a structure to be defined between the parties
Azul SA has executed with Abra (Azul and Abra being referred to as “Parties”), the controlling holding company of Gol Linhas Aéreas Inteligentes SA (“Gol”), a non-binding Memorandum of Understanding (“MoU”)... more
AirlinesITA Airways new BoD appointed: Lufthansa's statement
Joerg Eberhart and Lorenza Maggio two of five members -PHOTOS
Joerg Eberhart and Lorenza Maggio have been appointed yesterday among the five-member Board of Directors of ITA Airways: Lufthansa's statement.Joerg Eberhart (54) has been responsible for the strategic... more
AirlinesITA Airways appoints new Board of Directors
Sandro Pappalardo is the president, Joerg Eberhart is the CEO
The Ordinary Shareholders' Meeting of Italia Trasporto Aereo SpA (“ITA Airways”) met today and appointed the new Board of Directors of the air carrier, composed of five members, specifically Antonella Bal... more
AirlinesITA Airways top changes: Turicchi resigns
New key appointments in sight for the Italian airline
Antonino Turicchi is leaving the presidency of ITA Airways, marking a significant change in the air company's governance. According to "Il Sole 24 Ore", his resignation comes amid tensions between the... more
Civil aviationLufthansa Group issued hybrid bond and strengthens its capital base
With a total volume of EUR 500 million
Deutsche Lufthansa AG successfully issued an unsecured euro hybrid bond with a total volume of 500 million euros yesterday afternoon, January 8, following investor meetings on the previous day. The bond... more
AirlinesDAE signs definitive agreement to acquire Nordic Aviation Capital
Terms of the transaction were not disclosed
Dubai Aerospace Enterprise (DAE) Ltd announced in the last days the signing of a definitive agreement to acquire 100% of the Nordic Aviation Capital group of companies (“NAC” or “Nordic Aviation Capit... more
AirlinesKenya Airways resumes trading at Nairobi Stock Exchange
After a 4-year pause, suspension revoked effective January 5, 2025
Kenya Airways' stock movements have been restarted after a pause of more than four years, the Nairobi Securities Exchange announced it. The suspension was requested by the air company in July 2020 after... more
AirlinesITA Airways: approval of a €325 million capital increase
New company by-laws approved
Last Friday, Italia Trasporto Aereo SpA ("ITA Airways") held its Extraordinary Shareholders' Meeting, during which a €325 million capital increase was approved, to be offered to Deutsche Lufthansa AG (... more
Civil aviationItaly. EC: support renewable electricity production
Approved an aid scheme for EUR 9.7 bn
To foster the transition to a net-zero economy more
Finance and economyNorthrop Grumman begins production of first E-2D Advanced Hawkeye aircraft for France
And also it announces the buyback of additional own shares for 3 billion dollars
American multinational Northrop Grumman celebrated Tuesday the start of production of the first E-2D Advanced Hawkeye aircraft for the French Navy at its facility in St. Augustine, Florida. The ceremony... more
AirlinesAircraft and carriers. Korean Air acquires 63.88% stake in Asiana Airlines
Four years after announcing its decision on November 16, 2020
Korean Air (KA) has completed its acquisition of Asiana Airlines (AA), four years after announcing its decision on November 16, 2020.On December 12, Korean Air acquired 131,578,947 newly issued shares... more
AirlinesAircraft and airlines. IATA: USD 1.7 bn in funds blocked by Governments
Nine Countries account for 83% of them, amounting to 1.43 billion
The International Air Transport Association (IATA) reported that $1.7 billion in airline funds are blocked from repatriation by governments as of the end of October 2024. This is a small improvement compared... more
AirportsFraport ends involvement at Pulkovo Airport, in Russia
Transaction expected to close within the next days
All approval processes and procedures completed more
Civil aviationEurostat estimates the number of air passengers to increase in 2023
Up 19.3% on 2022. However, a slight decrease in total freight and mail transport (-5.2%)
Specifically: Malta (+33.3%), Slovenia (+30.9%) and the Czech Republic (+29.4%) recorded the highest increases, while the lowest ones were recorded in Estonia (+7.9%), Greece (+9.6%) and Lithuania (+12.3%) more
AirlinesTUI leases 14 B-737/8 aircraft
From BOC Aviation. Delivery expected between 2025 and 2026
BOC Aviation today announced that it has entered into a leasing transaction involving 14 B-737/8 aircraft with TUI Airways. Steven Townend, CEO and Managing Director of the company commented: "With the... more
DefenseBabcock strengthens relations with South Korea
Two important contracts signed: one of which MoU with Korea Aerospace Industries
In order to consolidate strategic partnerships in the Republic of Korea, Babcock this week signed two separate agreements with South Korean companies: one in the global naval market with Hanwha Ocean (shipbuilding... more
AirlinesKorean Air-Asiana merger: there is the green light by EU
It plans to complete the transaction by December
Korean Air has satisfied all conditions set by the European Union competition authority for its merger with Asiana Airlines.The European Commission (EC) announced on November 28 that it has concluded its... more
AirlinesAir France-KLM: negotiations underway for stake in Air Europa
Through Globalia, 20% of the shares would change hands. Vital liquidity for the Spanish airline
The Hidalgo family, which owns 80% of Air Europa through the Globalia group, is currently reportedly in talks with Air France-KLM to grant the Franco-Dutch consortium a stake in their airline. These discussions... more
Finance and economyAirbus launches second tranche of its share buyback programme
It will include until 2,127,000 ones, starting from today and up to not over January 24, 2025
Airbus SE is launching the second tranche under its share buyback programme announced on 9 September 2024, which is being undertaken for the purpose of supporting future employee share ownership plan activities... more
Civil aviationSolarig Spain invests €1.15 billion to produce SAF aviation fuel
New plant in Teruel, Aragon, with capacity of over 75,000 tons per year
Equivalent to 33,000 flight connections between Zaragoza and London (considering a 50% sustainable fuel mix) more
AirportsSingapore-Japan cooperation on air safety and connectivity
Deepening collaboration on Saf fuels, ATM, innovation, Uas and Aam
At the third Singapore-Japan Aviation Cooperation Dialogue, co-chaired by Civil Aviation Authority of Singapore (CAAS) Director General Han Kok Juan and Japan Civil Aviation Bureau (JCAB) Senior Deputy... more
AirportsUK: AviAlliance buys AGS Airports from Ferrovial and Macquarie
Aberdeen, Glasgow and Southampton airports change hands for an enterprise value of £1.53bn
AviAlliance announced yesterday the acquisition of AGS Airports from Ferrovial and Macquarie, for an enterprise value of £1.53 billion. The transaction is subject to regulatory approvals and is expected... more
AirportsFraport traffic figures in October 2024
5.7 million passengers at Frankfurt Airport
In October 2024, approximately 5.7 million passengers traveled via Frankfurt Airport (FRA), up slightly (by 0.3 percent) from the corresponding month of 2023. During the fall school holidays in the German... more