Azores Government Questioned Over SATA’s $3M Debt for Hi Fly A330 Lease

ByAdmin 12/11/202413/11/2024

The Azores parliamentary group has requested clarification from the Regional Government concerning a $3 million debt incurred by SATA from a wet lease agreement involving an Airbus A330 from Hi Fly, a Portuguese airline. This debt, which the parliamentary group attributes to SATA’s previous management decisions, has become a significant point of contention in the region. Recently, a court ruling favored both Hi Fly and AELF Aircraft Engine Lease Finance (US), reinforcing the financial obligation SATA holds in this matter.

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Airlines | Financial

Air China Reports 6% Revenue Growth in Q3 2024 Despite Slight Income Decline

ByAdmin 31/10/202403/11/2024

Air China reported its financial results for the third quarter of 2024, noting a 6% year-over-year increase in revenue, totaling $6.8 billion. This growth was driven by steady demand for both domestic and international flights, as well as strategic capacity adjustments to optimize load factors across its extensive route network. Despite this increase in revenue,…

Airlines | Financial | Low Cost Carrier

Spirit Airlines Reports $1.22 Billion Net Loss for 2024 as Revenue Declines

ByAdmin 05/03/202505/03/2025

Spirit Airlines (US) has announced a $1.22 billion net loss for 2024, with operating revenue declining by 8.4% to $4.91 billion. The low-cost carrier continues to face financial headwinds, including weaker demand, operational disruptions, and fleet challenges. Key Financial Performance Metrics Factors Contributing to the Loss Spirit Airlines’ financial struggles stem from multiple challenges, including: Strategic Response and Future Outlook…

Airlines | Flag Carrier | Management

Malaysia Airlines Extends CEO Izham Ismail’s Contract by One Year

ByAdmin 13/11/202414/11/2024

Malaysia Airlines has extended the contract of its CEO Izham Ismail for an additional year, allowing him to continue overseeing the airline’s recovery and growth efforts. Alongside his role as CEO, Izham will also maintain his position as Managing Director of Malaysia Aviation Group (MAG), the parent company of Malaysia Airlines. This decision reaffirms the company’s confidence in Izham’s leadership as he…

Airlines | Legal

IAG Settles $132M Compensation to Air Europa for Canceled Acquisition

ByAdmin 14/11/202418/11/2024

IAG (International Airlines Group), headquartered in the United Kingdom, has finalized a $132 million compensation payment to Air Europa, the Spanish airline, for the canceled acquisition deal. The settlement concludes IAG’s financial obligations to Air Europa, following its decision not to proceed with the purchase. The payment reflects a negotiated agreement to resolve outstanding claims related to…

Airlines | Sale

Potential Revival of Air Belgium as Buyers Plan for Expansion

ByAdmin 29/10/202431/10/2024

Air Belgium, currently in receivership, may soon see a revival with serious interest from 16 potential buyers, as confirmed by Bernard Vanham, the appointed liquidation manager. According to CEO Niky Terzakis, four key candidates are expected to submit offers by November 1, 2024. Among these, three are prominent global airlines operating in both passenger and…

Airlines | Crisis | Financial

Nauru Airlines Reports $4.1 Million Loss for Fiscal 2024

ByAdmin 07/01/202509/01/2025

Nauru Airlines has reported a US$4.1 million loss for the fiscal year ending June 30, 2024. The significant loss was attributed to unpaid bills arising from the airline’s wet lease operations, a challenging situation that has strained its financial performance.

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