AELS (Aircraft End-of-Life Solutions), based in the Netherlands, has acquired an Airbus A330, identified by serial 448, for dismantling. The dismantling process will be carried out at Tarbes, France, in partnership with Tarmac Aerosave, a leading provider of aircraft storage, maintenance, and recycling services. This acquisition and dismantling project align with AELS’s commitment to sustainable aircraft end-of-life management and resource recovery.
Wheels Up Experience, a US-based private aviation company, has closed a new $332 million revolving equipment notes facility with Bank of America, supported by credit backing from Delta Air Lines. This financing initiative provides Wheels Up with increased liquidity to support its operations and fleet expansion plans. Alongside this development, Wheels Up has completed the acquisition of a fleet…
T’way Air, a low-cost carrier based in South Korea, has reported its Q3 2024 financial results, showing a net loss of $2.2 million despite achieving a 14.5% year-over-year increase in sales to $281 million. The results highlight the challenges faced by the airline industry in balancing revenue growth with rising operational costs.
Surf Air Mobility, a leading US-based regional air mobility company, has announced the successful closing and fundingof a new Senior Secured Term Loan provided by Comvest Partners. The facility includes a fully funded $44.5 million term loan, along with a $5.5 million delayed draw term loan earmarked for interest payments during the first 18 months. This financing is expected to bolster Surf…
StandardAero, a leading aerospace maintenance and repair organization (MRO) based in the US, has reported a 13.2% year-over-year increase in revenue for the third quarter (Q3) of 2024, reaching $1.24 billion. The company also posted a net income of $16.4 million, reflecting its ability to sustain profitability while managing operational growth. Capital expenditures (CapEx) during the quarter amounted to $25.3 million, while cash reserves…
Cebu Air, the Philippines’ largest airline, has reported its 9M 2024 financial results, highlighting an 11% increase in total revenue to $1.26 billion compared to the same period in the previous year. However, the airline’s net income fell by 33%, settling at $57.8 million. This mixed performance reflects both the recovery in travel demand and ongoing operational cost pressures impacting profitability.
Cargojet, a leading Canadian cargo airline, has announced its decision to redeem in full all of its outstanding 5.75% senior unsecured hybrid debentures on December 27, 2024. The debentures, originally scheduled to mature on April 30, 2025, will be repaid earlier than anticipated as part of Cargojet’s strategic financial management plan. This move underscores the company’s focus on maintaining…
Aegean Airlines, Greece’s flagship carrier, has announced its financial results for the first nine months (9M) of 2024, showing mixed performance. The airline reported a 4% increase in consolidated revenue, reaching $1.46 billion, compared to the same period last year. However, its profit after tax fell by 23%, amounting to $139.9 million. Additionally, the company disclosed $807 million in cash, cash equivalents, and other financial…
Embraer, the Brazilian aerospace manufacturer, is exploring the possibility of launching a new commercial airplane program, with potential investment support from Saudi Arabia’s Public Investment Fund (PIF). This development marks a strategic shift in Embraer’s search for partners, moving its focus from Asia to the Middle East, as it seeks funding and collaboration to advance its aviation ambitions.
Electra, a US-based aerospace company, has unveiled the design of its EL9 Ultra Short hybrid-electric aircraft. This innovative nine-passenger piloted aircraft is designed to offer exceptional efficiency and versatility in short-haul operations, marking a significant milestone in sustainable aviation. With the design phase complete, the EL9 now moves into its development phase, bringing Electra closer to delivering its vision of…
