Abelo, the Irish aircraft leasing company, has undergone a change in ownership as an affiliate of Cerberus Capital Management has acquired the business from funds managed by Oaktree Capital Management. The transaction signifies a strategic realignment in Abelo’s financial backing, potentially signaling new directions or growth plans under Cerberus’s stewardship.
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Jazeera Airways, Kuwait’s leading low-cost airline, reported a strong financial performance for the third quarter of 2024, with a 66.1% increase in net profit, reaching $37.8 million. The airline’s Group operating revenue also grew by 5.7% year-over-year, totaling $211 million. This substantial profit growth underscores Jazeera Airways’ successful strategies in managing operational efficiency and capitalizing…
Grupo Viva Aerobus, the Mexican low-cost carrier, has reported a difficult first quarter for 2025 with total operating revenues down 20.7% to $491 million, accompanied by a net loss of $42 million. Despite the downturn, the airline maintains a strong cash and cash equivalents position of $780 million, which provides a cushion for near-term operations.
Southwest Airlines, the largest domestic carrier in the U.S., has appointed Brian Kilburn as its new Vice President of Cargo, Provisioning, and Ground Support Equipment, marking a key leadership transition within its operations division. Kilburn steps into the role following the retirement of Wally Devereaux, a long-serving executive known for developing Southwest’s cargo division into a reliable revenue stream.
SpiceJet, a leading airline based in India, has announced the clearance of all pending employee provident fund dues, totaling $18.8 million. This settlement addresses payments that had been pending for over two years, signaling the airline’s commitment to fulfilling its obligations to its employees.
Fitch Ratings (US) has reported that Boeing is making early progress in resuming production, following recent challenges, while also working to reduce legacy inventory and improve supply chain management. These developments are seen as critical factors in Boeing’s long-term operational and financial recovery.
Willis Lease Finance Corporation has released its 2024 financial results, highlighting a strong revenue performance and substantial net income growth. The company reported total revenues of $569.2 million, reflecting increased demand for engine leasing and asset management services.
