The State Transport Leasing Company (STLC) of Russia reported a sharp decline in net profit for the first nine months of 2024, despite significant revenue growth. According to the company’s latest financial statement, net profit dropped by 2,750%, amounting to just $4.5 million, a steep fall from previous periods. However, revenue increased by an impressive…
The release of Russia’s updated SJ-100 aircraft faces delays, as highlighted by Chief Designer Kirill Kuznetsov. While the familiar SSJ100 fuselage remains, the SJ-100 is undergoing extensive testing and certification for its new PD-8 engines, replacing the earlier French-Russian SaM146 engines. The PD-8’s certification, expected in 2025, has introduced unique challenges as the engine undergoes…
Ireland-based aircraft leasing firms, widely favored by Indian airlines for fleet expansion, are now under scrutiny from India’s tax authorities. The investigation stems from concerns that these lessors might be exploiting favorable tax treaties, specifically by structuring their businesses in Ireland to minimize tax liabilities in India. Leasing companies registered in Ireland benefit from the…
Brazil’s government has indicated willingness to facilitate an agreement between TAP Air Portugal and Brazil’s Azul regarding a €200 million debt but emphasized no governmental interference. Silvio Costa Filho, Brazil’s Minister of Ports and Airports, reiterated this stance following discussions in Lisbon with Portuguese officials, including Miguel Pinto Luz, Portugal’s Minister of Infrastructure. Both governments…
Indian airline SpiceJet is facing an insolvency petition filed by Eusu Logistics in the National Company Law Tribunal (NCLT) over unpaid dues totaling ₹1.94 crore. This development follows ongoing financial challenges for the airline, which has recently settled multiple creditor disputes, including a significant $4.5 million agreement with Shannon Engine Support. SpiceJet’s financial restructuring efforts…
A recent ruling by a U.S. federal appeals court mandates Southwest Airlines to face a lawsuit filed by its pilots’ union. The union alleges that Southwest violated federal labor laws by intimidating and disciplining pilots for their association with the union. The lawsuit claims Southwest’s actions breach federal protections that safeguard pilots’ rights to unionize…
Air Serbia has suspended ticket sales for its Belgrade-Tianjin route, with the last flight set for November 5, 2024.
As the strike at Boeing persists, suppliers to the aerospace giant are warning of potential layoffs and operational cutbacks if the work stoppage continues.
Air Transat, the Canadian airline known for its leisure and vacation travel services, has announced a temporary layoff of up to 400 flight attendants, effective November 1, 2024.
Boeing has launched a significant stock offering that could raise approximately $19 billion, aiming to reinforce its financial position amid recent operational setbacks.
