Jazeera Airways, Kuwait’s leading low-cost airline, reported a strong financial performance for the third quarter of 2024, with a 66.1% increase in net profit, reaching $37.8 million. The airline’s Group operating revenue also grew by 5.7% year-over-year, totaling $211 million. This substantial profit growth underscores Jazeera Airways’ successful strategies in managing operational efficiency and capitalizing…
Willis Lease Finance Corporation (WLFC), a leading U.S.-based provider of aviation leasing and asset management services, has entered into a new five-year revolving credit facility totaling $1 billion. This significant agreement, which includes WLFC’s wholly-owned subsidiaries as guarantors, replaces the company’s previous $500 million credit facility, enhancing its financial flexibility and supporting its long-term growth…
Turkish Airlines has reported a strong financial performance for the first nine months of 2024, achieving a net profit of $2.7 billion on total revenues of $17.0 billion. The airline’s robust cash position, with cash and cash equivalents totaling $1.7 billion at the end of the period, highlights its financial resilience and capacity for continued…
KM Malta Airlines has announced plans to increase its capital to $390 million as part of a strategy to prepare for part-privatization over the next two years. The capital injection is intended to strengthen the airline’s financial position, making it more attractive to potential investors. The Maltese government, which is facilitating this transition, has expressed…
Jeju Air, South Korea’s largest low-cost carrier, has reported a 5.4% increase in sales for the third quarter of 2024, totaling $335.2 million. However, the airline experienced a significant 59% decline in net profit, which fell to $31.3 million. The mixed results highlight the challenges Jeju Air faces in balancing revenue growth with profitability amid…
Gevo, a leading sustainable aviation fuel (SAF) producer in the United States, has secured a conditional loan guarantee of $1.46 billion from the US Department of Energy (DOE) Loan Programs Office. This funding commitment is aimed at supporting Gevo’s Net-Zero 1 SAF project in South Dakota, a key initiative in the company’s efforts to produce…
Fitch Ratings has revised its outlook on United Airlines, moving it from Stable to Positive, while affirming the airline’s Long-Term Issuer Default Rating (IDR) at ‘BB-’. This change reflects Fitch’s confidence in United Airlines’ improved financial stability and growth prospects, as the airline continues to recover post-pandemic and strengthen its market position in the competitive…
Cargojet, Canada’s premier air cargo carrier, has reported strong financial results for the third quarter of 2024, with total revenue rising by 14.8% to $176.6 million. The company also achieved a remarkable 182.9% increase in net earnings, reaching $21.3 million, underscoring Cargojet’s resilience and efficiency in a competitive market.
Cargojet, a leading Canadian air cargo carrier, has announced that the Toronto Stock Exchange (TSX) has accepted its notice to renew the company’s normal course issuer bid, allowing Cargojet to repurchase a portion of its common and variable voting shares. This renewal enables Cargojet to buy back up to 1,500,000 shares, with the program set…
Air Astana Group, the national airline group of Kazakhstan, has reported strong financial results for the third quarter of 2024, achieving a 10.4% increase in total revenue and other income, reaching $410 million. The group’s adjusted EBITDAR rose by 12.6% to $128.8 million, reflecting operational efficiency and growing demand across its network. With a robust…
