SkyWest, a leading regional airline in the United States, announced its financial results for the fourth quarter and fiscal year 2024, highlighting significant growth and profitability.
LATAM Airlines Group, based in Chile, has announced its financial results for fiscal year 2024, reporting a 10.6% increase in total revenues, reaching $13.0 billion. The company also achieved a 67.9% rise in net income, totaling $977 million, and ended the year with liquidity of $3.5 billion.
Icelandair has announced its financial results for the fourth quarter of 2024, reporting a 10% increase in revenue, totaling $349 million. Despite this growth, the airline experienced a net loss of $20 million for the quarter.
Air Serbia has announced a record net profit of $42.9 million (€41.3 million) for the year 2024, with total annual revenue surpassing $729 million (€700.3 million). This marks the most successful financial performance in the airline’s history.
Wizz Air Holdings (Hungary) has reported its 4Q 2024 financial results, posting a total revenue of $1.2 billion, marking a 10.5% year-over-year increase. However, the airline’s net loss surged by 128.7% to $251.2 million, highlighting persistent financial challenges despite revenue growth.
Southwest Airlines (US) has announced its financial results for 2024, reporting a net income of $465 million, driven by operating revenues of $27.5 billion. The airline ended the year with $9.7 billion in liquidity, reinforcing its strong financial position despite ongoing industry challenges.
Azul (Brazil) has had its credit rating downgraded to ‘SD’ (Selective Default) by S&P Global Ratings (US) after completing a distressed debt exchange. The downgrade reflects S&P’s classification of Azul’s recent debt restructuring as distressed, rather than a conventional market transaction.
Lufthansa Group has signed an agreement to acquire a 10% convertible share in airBaltic for a subscription price of €14 million. This strategic move grants Lufthansa a seat on airBaltic’s Board and positions the group for future equity participation in the Latvian carrier.
United Aircraft (Russia) has announced plans to issue more than 2 trillion shares, aiming to raise approximately $5.5 billion in capital. This move is intended to strengthen the company’s financial position and support ongoing aircraft development and production programs.
Pratt & Whitney (US) has reported a strong fourth quarter (4Q) 2024 performance, with sales increasing by 18% to $7.5 billion and operating profit rising 32% to $504 million. The results reflect higher demand for commercial and military engines, as well as robust aftermarket services growth.
