Finance and economy
3,190 news found
AirlinesITA-Lufthansa negotiations break down: crisis looming
Negotiation impasse jeopardises future of partnership
Since yesterday, discussions on the ITA-Lufthansa agreement seem to have reached a critical point. Giancarlo Giorgetti, Italian Minister of Economy and Finance, is carefully monitoring the details of... more
AirlinesAssovolo: some clarifications about the Lufthansa-ITA Airways acquisition
The press release issued by the Italian Air Transport Federation
Assovolo Trasporto aereo on the Lufthansa-ITA Airways acquisition has made some clarifications in a press release: "The ITA Airways affair is far from sailing in clear skies: the news of the day is that... more
AirlinesImpact of Boeing delays on Ryanair and the airline industry
Financial performance declined in the second quarter
Ryanair's financial performance declined in the second quarter, with net profit falling 6% to € 1.4 billion. The decline was mainly due to delays in Boeing aircraft deliveries, which negatively impacted b... more
AirlinesSingapore Airlines invests in $800 million upgrade
To raise the standards of luxury on board aircraft
Singapore Airlines (SIA) recently announced an investment of over $800 million to upgrade the cabins of 41 A-350/900 aircraft, including long-range and Ultra-Long-Range (ULR) versions, in response to growing... more
AirlinesAir traveller trends and preferences in 2024
According to a recent global survey conducted by IATA
The recent Iata (International Air Transport Association) Global Air Passenger Survey for 2024 highlights how travellers are increasingly relying on convenience and efficiency in their travel choices.... more
AerospaceAirplanes and helicopters. Airbus reports 9m 2024 results
497 commercial aircraft delivered
Airbus reports Nine-Month (9m) 2024 results.The highlights are:497 commercial aircraft delivered Revenues € 44.5 billion; EBIT Adjusted € 2.8 billionEBIT (reported) € 2.7 billion; EPS (reported) € 2.29... more
AirlinesGenoa Airport 2023 budget: reduced losses and new perspectives
Planned expansion of the passenger terminal in 2025
The board of directors of Aeroporto di Genova SpA, 60% controlled by the Western Ligurian Sea Port System Authority and 40% by the Genoa Chamber of Commerce, has recently approved the 2023 financial statements.... more
AirlinesLufthansa Group reports an operating profit of 1.3 billion euros for the 3Q
Following a strong Summer travel season
Lufthansa Group reports an operating profit of 1.3 billion euros for the third quarter following a strong Summer travel season. The highlights are: Strongest revenue quarter in the company's history, w... more
Civil aviationBoeing launches major equity issue in response to financial crisis
Equal to a value of 19 billion dollars
Boeing has announced a massive equity offering of $19 billion, its largest since 2020, to ease financial strains exacerbated by a seven-week strike by its 33,000 workers, which has cost the company $1... more
Airlines2024: a Summer of challenges for European carriers
Due to high costs and complex operations, impact on companies of €3.5 billion
During 2024, the air transport sector in Europe faced unprecedented challenges, exacerbated by a strong growth in air traffic and a travel demand at its highest level since the pandemic. According to a... more
AirlinesAir Ambulances in Australia: Helicorp buys Pel-Air, from Rex Group
Transaction worth over $47 million, pending approval by the Foreign Investment Review Board
Rex Group has announced to investors that it has entered into an agreement to sell its air ambulance business, Pel-Air, to Helicorp Pty Ltd. The agreed transaction amount is approximately $47.1 million... more
Finance and economySafran reports its 3Q2024 and 9m results
Aircraft interiors continued its sales expansion
Safran reports its third quarter 2024 revenueAdjusted dataQ3 2024 revenue: €6,639 million (+14.0%)9m 2024 revenue: €19,686 million (+17.4%)Consolidated dataQ3 2024 revenue: €6,682 million9m 2024 reven... more
Civil aviationBoeing reports third quarter results
Total company backlog of $511 billion, including over 5,400 commercial airplanes
The Boeing Company recorded third quarter revenue of $17.8 billion, GAAP loss per share of ($9.97) and core loss per share (non-GAAP) of ($10.44) primarily reflecting impacts of the IAM work stoppage and... more
AirlinesEmirates orders 5 additional B-777F airplanes
The carrier brings freighter fleet to 21 units by end 2026
The order aims to "reflect Dubai’s growing prominence as a preferred and trusted global logistics hub", said HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group more
AirlinesWizz Air trials Saf fuels on A-321neo aircraft
In collaboration with Airbus, a step forward towards sustainability in the aviation sector
Wizz Air has announced the launch of a pilot project in collaboration with Airbus for the use of Sustainable Aviation Fuel (SAF). This initiative positions the airline one step closer to complying with... more
AirlinesBerlin: aircraft and transport taxes discussed
Bischof (president of BDL and CEO of Eurowings) calls for its abolition, as in Sweden
The President of the German Aviation Association (BdL) and CEO of Eurowings, Jens Bischof, has expressed the need to eliminate the air transport tax to keep air travel affordable. In a statement reported... more
AirportsAci Europe: new study shows airports & air connectivity power 5% of European GDP
On the occasion of its "Airport Economics Symposium" took place yesterday in Brussels
On the occasion of its "Airport Economics Symposium" took place yesterday in Brussels and featuring addresses from Enrico Letta, President of the Jacques Delors Institute and former Prime Minister of Italy,... more
Civil aviationNo aid from Berlin to Lilium, manufacturer of eVtol aircraft
Goodbye (perhaps) to the hope of a 50 million financial injection for the company already in crisis
The German Government has not granted the financial support requested (and strongly hoped for) by Lilium, a Bavarian company that builds eVtol (electric Vertical Take-Off and Landing) aircraft for air... more
AirportsSignificant growth in US biofuel production in 2023
Focus on renewable diesel and the impact of regulations
The United States is expected to grow its biofuel production by 7% in 2023, reaching a total annual capacity of 24 billion gallons by the start of 2024. According to the Energy Information Administration... more
AirlinesAirlines and credit cards: El Al gets its hands on Isracard?
Tel Aviv company bids for control of credit card company
El Al Israel Airlines (an Israeli airline led by CEO Dina Ben Tal Ganancia), has made Isracard Chairman Tamar Yassur and CEO Ran Oz a takeover offer through a private share allocation of 45% of shares... more
AirlinesAirplanes and airlines. Volotea: positive data for passengers transported
In Italy, in the period April-September 2024. The load factor is also very good
Volotea, a note reports, closes another Summer full of flights and connections in the name of consolidation in the Italian market, confirming the centrality of the Belpaese in its business strategies.... more
Finance and economyAnd Boeing is calling for cash...
Giant seeks funding to weather crisis and maintain credit rating
Boeing is seeking financing for a total amount of 35 billion dollars. This move was disclosed through official documents filed with the Securities and Exchange Commission (SEC), the American financial... more
AccidentsFarewell to Ratan Tata, pillar of Indian industry
His is the colossus with branches also in the air transport (Air India), aerospace, defense sectors
A Nation in mourning, it is impossible to quantify the river of people who gathered in Mumbai, India's financial heart, to attend the funeral of Ratan Tata, an iconic industrialist described as an "giant"... more
AirlinesAirplanes & Airlines. ITA Airways-Lufthansa partnership: starting in January
The Italian-German alliance takes shape
The partnership between ITA Airways and Lufthansa is set to take flight in January, following a plan detailed by the German giant and accepted by its Italian counterpart. A recent development in the story... more
AirportsChinese military escalation against Taiwan
Aggressive maneuvers in the delicate area of the Strait
Taiwan's Ministry of Defense has said it is on high alert due to frequent Chinese military actions in the surrounding airspace and sea. This increase in Chinese military activities reflects the growing... more
AirlinesDelta Airlines faces profit reduction in 3Q2024
IT failure impacts airline's financial results
Delta Airlines reported a 26% year-over-year decline in profits in the third quarter of 2024, with net income falling to $971 million from $1.31 billion. The decline was driven by a significant computer... more
AirlinesRyanair cuts German operations over high taxes
Impact of tax policies on the aircraft and transport sector
Low-cost carrier Ryanair has announced a significant reduction in its German operations for the Summer of 2025. Motivated by the German Government's failure to reduce air traffic control and security-related... more
Civil aviationCy4Gate: contract signed with Italian high-tech company
For supply of products and services research and development activities on cybersecurity
The agreement, worth 1.6 million Euros, will last approximately three months more
Civil aviationBoeing withdraws contract offer: strike announced
Tensions rise between company and unions as protest approaches
Boeing announced on Tuesday that it was suspending negotiations with its main union and withdrawing its offer. The decision followed accusations by the union that the aircraft giant was inflexible in improving... more
AirportsAci Europe: EU State aid guidelines must be extended to safeguard vital regional air connectivity
New rules to support and facilitate decarbonisation
ACI EUROPE calls on the European Commission to extend the EU State aid Guidelines to regional airports, so that they can continue contributing to the connectivity, competitiveness and cohesion of Europe’s r... more
AirlinesAirplanes and mergers. Philippines: Cebu Pacific buys 100% of AirSwift
Ali Capital Corp's (Zobel de Ayalas) 'boutique airline' changes hands for $30.8 million
Cebu Pacific Air has announced that it has signed an agreement to acquire 100% of AirSwift through a share sale agreement with Ali Capital Corp (Zobel de Ayalas). The transaction is valued at Php 1.75... more
AirlinesImpact of flight changes on Sardinian connectivity
There is a risk of a reduction in international connections from the island
Sardinia could lose important connections with international routes from next October 27. This concern was expressed by Ugo Cappellacci, deputy and head of the Insularity department of Forza Italia, and Ivan... more
AirlinesInternal crisis and legality: turbulence in ITA
Tensions and accusations shake the foundations of the airline
Giovanni Naccarato, a member of the board of auditors, resigned about six weeks ago, following internal disputes. Informal sources suggest that the resignation may be related to an alleged agreement between... more
AirlinesScandal in Brindisi: they made low-quality components for B-787 Dreamliner aircraft
Two companies that produced for Leonardo under investigation. Arrests
The aeronautics sector has recently been rocked by an investigation by the Brindisi Public Prosecutor's Office that revealed the use of non-compliant materials in the production of parts for the B-787... more
AirlinesEuropean airport sector recovery exceeds expectations
Record results for continental airports in the Summer months
Recent data published by Aci Europe indicate a significant recovery in travel by airplanes, with European airports seeing an annual increase of over 5% in the Summer months of July and August, exceeding... more
AirlinesSpirit Airlines heading for Chapter 11 after rejecting merger with JetBlue?
American low-cost carrier weighs options to avoid bankruptcy
Spirit Airlines, an American low-cost carrier, is facing serious financial difficulties that could lead to bankruptcy. After the collapse of negotiations to merge with JetBlue Airways, Spirit has been... more
AirlinesKLM tightens its purse strings and announces new cuts and spending reductions
The commitment to renew the fleet remains: a billion-dollar investment
KLM today announced measures to structurally improve the company's operational and financial performance. These measures include increasing productivity, simplifying the organization, reducing costs, and... more
AirlinesAci Europe. Draghi report puts back transport on the radar screen
With clear priorities for sustainable infrastructure development
Reacting to the publication yesterday of the Draghi report on "The future of European Competitiveness", ACI EUROPE endorsed its analysis of the transport sector and welcomed its proposals to tackle the... more
AirportsFraport divests its stake in Delhi Airport
Transaction scheduled for conclusion in the 1Q2025 -VIDEO
Fraport AG is selling its stake in Delhi Airport (DEL), India. Under the agreement signed today (September 9), Fraport is selling its entire 10.0 percent stake in Delhi International Airport Limited (DIAL)... more
Civil aviationIata: IVL increase will hurt NZ's travel and tourism sector
The Association expressed disappointment with this decision
The International Air Transport Association (IATA) expressed disappointment with the New Zealand Government's decision to increase the International Visitor Conservation and Tourism Levy (IVL). The recovery... more
Civil aviationBoeing has a new CEO: Kelly Ortberg
Rumors confirmed; Will lead reforms after Calhoun's exit
The US Boeing Group has appointed Robert Kelly Ortberg as its new CEO and president, thus confirming the latest rumors. The former executive of the Rockwell Collins company (now part of Collins Aerospace)... more
AirlinesBeirut airports: airlines stop flights
About ten carriers suspend operations due to Israel-Lebanon escalation
Flights cancelled for days or weeks at Beirut's "Rafik Hariri" international airport. This is a choice made by numerous global airlines operating at the Lebanese stopover. The reason? The crisis in the... more
Civil aviationMiddle East: high tension Israel-Lebanon
Meloni: "Tel Aviv must not react militarily to provocations"
Tension remains high in the Middle East. Tonight, Israeli Defense Forces (IDF) planes hit around ten Hezbollah targets in seven different areas of southern Lebanon. Yesterday Turkey threatened Tel Aviv... more
AirlinesItaly. Ancona Airport: among the top destinations
This was communicated by the German Lufthansa which monitors Summer tourism
The Italian "Raffaello Sanzio" international airport of Ancona-Falconara is among the top destinations in the world for the number of tourists transported by the German airline Lufthansa. The Marche region... more
AirportsItaly. Genoa Airport: skip the MSC entrance
The board of directors resigned; appointment on September 10th
The Genoa Chamber of Commerce has blocked the proposed purchase of 15% of the Genova Airport company by the Mediterranean Shipping Company (MSC) maritime group. The second largest shareholder (holds 25%)... more
AirlinesEU CJ confirms lawfulness of the loan granted to Austrian Airlines in 2020
For EUR 150m; the Court dismisses the action brought by two carriers
On 23 June 2020, Austria notified the Commission of an aid measure in the form of a subordinated loan (convertible into a grant) of €150 million in favour of Austrian Airlines (AUA), which is part of t... more
Civil aviationOlympic Games (2): air taxi tests in Paris
French State Council authorizes eVtol Volocopter testing
Green light for testing of air taxis during the Paris 2024 Olympic and Paralympic Games (from 26 July to 11 August, and from 28 August to 8 September). The green light has arrived in recent days from the... more
DefenseLondon confirms commitment to Gcap aircraft
Crosetto (Italian Defense): "Agreement goes beyond industry, we defend our allied countries"
The new UK government, led by British Prime Minister Keir Starmer, had said it wanted to reconsider London's commitment to the Global Combat Air Program (GCAP) due to a review of the national defense budget.... more
AirlinesAir France-KLM below expectations
The quarterly operating result does not discourage investors
The operating profit of the Franco-Dutch Air France-KLM group fell to 513 million euros. These are the financial data for the second quarter of 2024. It is a worse result than expected, but one that has... more
AirportsItaly. Naples Airport: traffic is normal
Solved technical IT problem encountered today at dawn
The "Ugo Niutta" international airport of Naples-Capodichino is back fully operational. In fact, at dawn today, a technical problem with the IT system caused widespread slowdowns in the embarkation and... more