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Abelo Acquired By Cerberus Capital Affiliate

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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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AAR Secures Multi-Year Nacelle MRO Agreement with Cebu Pacific

ByAdmin

AAR (US) has signed a multi-year nacelle maintenance, repair, and overhaul (MRO) agreement with Cebu Pacific Air (Philippines) to support the airline’s Airbus A320 fleet, powered by CFM56-5B engines. The contract will see AAR performing nacelle MRO services at its Chonburi, Thailand facility, reinforcing its commitment to expanding support for Asia-Pacific carriers.

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El Al Withdraws Bid for 45% Stake in Isracard Due to Deadline Constraints

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El Al, Israel’s flagship airline, has officially withdrawn its bid to acquire a 45% stake in Isracard, the country’s largest credit card company, citing challenges in meeting the regulatory and acquisition requirements before the October 31, 2024, deadline. This retraction marks a strategic shift for El Al, which had initially sought the acquisition to diversify…

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Boeing Lays Off 222 Aerospace Union Members Amid Ongoing Cuts

ByAdmin

Boeing has announced the layoff of 222 members of its Society of Professional Engineering Employees in Aerospace (SPEEA) union. This latest round of job cuts is part of a broader workforce reduction initiative that began in November 2024, reflecting the company’s continued efforts to realign its workforce with operational demands.

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Jeju Air Posts $17M Q1 Loss Amid 32% Revenue Decline

ByAdmin

Jeju Air, South Korea’s largest low-cost carrier, has announced a significant downturn in its financial results for the first quarter of 2025. The airline posted a net loss of $17 million, coupled with a 32% decline in revenue year-on-year, bringing total revenue to $259.7 million.

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HelloJets Takes Delivery Of Leased Boeing 737-800

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HelloJets, a Romanian charter and ACMI operator, has expanded its fleet with the delivery of one Boeing 737-800aircraft, acquired on lease. The aircraft, registered under serial number 33833, is powered by CFM56-7B27 engines and is expected to enhance the airline’s capacity for both charter and contracted wet lease operations across Europe and the Middle East.