Turkish Airlines achieved significant growth in November 2024, recording an 8.3% increase in passengers compared to the same period last year. The airline transported a total of 6.5 million passengers during the month, reflecting its robust operational capacity and demand recovery in the aviation sector.
Boliviana de Aviación (BoA), Bolivia’s national airline, is grappling with significant operational challenges due to financial constraints. The carrier has been unable to pay the leases for six of its aircraft, resulting in their grounding. Additionally, two more planes remain out of service due to ongoing maintenance, further impacting the airline’s operational capacity.
Boeing reported delivering only 13 commercial jets in November 2024, marking a stark decrease compared to the 56 jets handed over in the same month the previous year. The drop highlights ongoing production and operational challenges faced by the aerospace giant.
TUI Group (Germany), a global leader in tourism and travel, has reported a strong financial performance for 2024. The company’s revenue grew by 12% to reach $24.4 billion, underscoring its recovery and growth momentum in the post-pandemic travel industry. The group also recorded an Underlying EBIT of $1.3 billion, reflecting its strategic focus on operational efficiency and market expansion.
Vietnam Airlines has announced plans to convene an extraordinary meeting on January 21, 2025, where shareholders will discuss a proposal to issue new shares. The initiative aims to raise funds to increase the airline’s charter capital, with a maximum scale equivalent to approximately $867 million.
Phoenix Aviation Capital (Ireland) has announced the successful closing of a $240 million term loan facility, marking a significant milestone in its expansion strategy. The funds will be used to finance the acquisition of six next-generation aircraft, all of which are on long-term leases with five airlines operating across the globe.
The International Air Transport Association (IATA) has reported that $1.7 billion in airline funds remain blocked from repatriation by governments globally as of the end of October 2024. While this represents a marginal improvement from the $1.8 billion reported in April, the issue continues to pose significant challenges to airlines operating in affected markets.
Embraer, a global leader in aerospace manufacturing, has achieved a significant milestone with Moody’s (US) awarding the company an Investment Grade rating. Moody’s has upgraded Embraer’s credit rating from Ba1 to Baa3, with a positive outlook, reflecting confidence in the company’s financial stability and growth prospects.
Aero Contractors (Nigeria) CEO Ado Sanusi has urged the Federal Government to reverse the current high interest rates affecting businesses in the country. Sanusi emphasized that a reduction in interest rates is crucial for Nigerian airlines to fully benefit from the Cape Town Convention protocol, which aims to facilitate asset-based financing and leasing for aircraft.
Chorus Aviation (Canada) has announced plans to repay its corporate financings, aiming to optimize its capital structure and strengthen its financial position. This decision follows the successful sale of its Regional Aircraft Leasing segment, a move that marked a significant strategic shift for the company.
