Croatia Airlines has warned of negative financial outcomes in the short term, citing challenges associated with its fleet renewal investment cycle. The airline is currently undergoing a major fleet transition, which is expected to improve long-term operational efficiency but will temporarily strain financial performance.
Asiana Airlines (South Korea) has successfully repaid $2.6 billion in loans received from the Export-Import Bank of Korea, the Key Industrial Stability Fund, and the Korea Development Bank. The repayment eliminates a major financial burden for the airline, positioning it for long-term stability and a smoother transition amid its planned merger with Korean Air.
Air Transport Services Group (ATSG) has reported its 2024 financial results, posting total revenue of $2.0 billionand a net income of $27.4 million. The company also recorded $517 million in revenue for Q4 2024, with a quarterly net income of $14.7 million. The results highlight ATSG’s stable financial position in the air cargo and leasing industry.
Aeroflot Group (Russia) has announced a net profit of $618 million for the 2024 financial year, with total revenue reaching $9.6 billion. The results highlight Aeroflot’s strong financial rebound, driven by revenue growth, fleet optimization, and sustained passenger demand.
AFG Aviation Ireland Limited (AFG) has announced the appointment of Imtiaz Khot as Senior Vice President – Commercial. Khot brings extensive experience in airline marketing, aircraft transactions, and structured leasing agreements, following a distinguished career spanning over two decades in the aviation industry.
Parata Air (South Korea) has commenced its repayment process to Yangyang County, issuing an initial $68,700 payment as part of a $1.3 million financial support settlement. The repayment is part of a court-approved rehabilitation plan following the financial restructuring of Fly Gangwon.
FL Technics, a Lithuanian-based MRO provider, has announced the appointment of Donatas Dockus as the new CEO of Wright International, its Canadian subsidiary. The leadership change is part of FL Technics’ strategic expansion into the North American aviation market, reinforcing its global presence in the aircraft maintenance, repair, and overhaul (MRO) industry.
BOC Aviation, a leading Singapore-based global aircraft leasing company, has announced the appointment of Wen Lanas its new Chief Financial Officer (CFO), effective March 1, 2025. She succeeds Wu Jianguang, who is retiring after a tenure overseeing the company’s financial operations.
Norwegian, one of Europe’s largest low-cost carriers, has announced an agreement to purchase ten Boeing 737-800 aircraft that are currently part of its leased fleet. The airline will fund the transaction using cash on hand, with the deal expected to be finalized in Q1 2025.
LOT Polish Airlines has announced plans to source additional Boeing 787 Dreamliners from the secondary market, as production backlogs and limited delivery slots prevent the airline from receiving new aircraft before the next decade. This move reflects LOT’s strategy to expand its long-haul fleet, ensuring continued growth despite supply chain constraints affecting new aircraft availability.
