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…
Copa Holdings, the parent company of Copa Airlines, has reported its October 2024 traffic results, showing positive growth in Available Seat Miles (ASMs) and Revenue Passenger Miles (RPMs). ASMs saw an increase of 6.6%, while RPMs rose by 6.5% compared to the same period last year. However, the load factor (LF), which indicates how full flights are on average, experienced a slight decline…
Spirit Airlines, based in the United States, has cautioned that its shareholders could see their equity wiped out as the airline negotiates a restructuring deal with creditors. This announcement underscores the financial difficulties Spirit faces as it seeks to stabilize its operations through a comprehensive restructuring plan, which could impact current shareholder value significantly.
Royal Jordanian Airlines, Jordan’s national carrier, may turn to its government shareholder for financial support if the ongoing Israel-Gaza conflict extends significantly into 2025. Despite the challenges posed by regional instability, Royal Jordanian remains committed to expanding its route network and pursuing fleet renewal initiatives. The airline’s proactive approach underscores its commitment to growth, even as external pressures increase the complexity…
Etihad Airways, based in the United Arab Emirates, has reported a substantial profit of $368 million for the first nine months of 2024. This achievement came on the back of a 21% increase in revenue, totaling $5 billion. This strong financial performance underscores Etihad’s ongoing efforts to boost profitability and expand its market presence amid a global resurgence in air…
