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Air Vanuatu in Talks for 49% Minority Stake Sale to Boost Operations

ByAdmin

Air Vanuatu, the national airline of Vanuatu, has entered negotiations to sell a 49% minority stake to potential investors, with a focus on revitalizing its financial health and operational reach. The Vanuatu government plans to retain a controlling 51% majority, ensuring national oversight while allowing for strategic investment and expertise from private stakeholders. This move…

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Cebu Pacific Increases Stake in 1Aviation Groundhandling to 60%

ByAdmin

Cebu Pacific, the Philippines’ largest low-cost airline, has increased its ownership stake in 1Aviation Groundhandling Services from 40% to 60%, establishing a majority position in the company. The stake increase was achieved through a debt-to-equity conversion, allowing Cebu Pacific to deepen its influence over ground handling operations, which are essential to the airline’s service efficiency…

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Air Tahiti Nui Seeks New Shareholder or Partner for Turnaround Strategy

ByAdmin

Air Tahiti Nui is exploring new partnership opportunities to strengthen its financial position and support a company-wide turnaround strategy. CEO Moetai Brotherson is actively seeking either a shareholder or strategic partner, with advanced negotiations currently underway with one party that could potentially provide aircraft and capital investment. This strategic search comes at a critical time,…

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CDB Aviation Finalizes Sale of Eight Airbus A330 Aircraft

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CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (CDB Leasing), has announced the successful completion of a mandate to sell eight Airbus A330-200 aircraft. This transaction underscores CDB Aviation’s robust asset management capabilities and its commitment to delivering tailored solutions for its stakeholders.

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Vietnam Airlines Reports Strong Revenue Growth and Profit in 9M 2024, Plans Equity Increase

ByAdmin

Vietnam Airlines has reported a solid financial performance for the first nine months of 2024, achieving a consolidated after-tax profit of $247.6 million alongside a 24.6% increase in total revenue, amounting to $3.3 billion. These results mark a significant improvement in the airline’s financial position, fueled by increased passenger demand across domestic and international routes…

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Vietjet Reports 19% Revenue Growth and 564% Profit Surge in 9M 2024

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Vietnam’s low-cost carrier Vietjet Aviation announced impressive financial results for the first nine months of 2024, reflecting a strong recovery and growth trajectory. Consolidated revenue reached $2.05 billion, marking a 19% increase from the same period last year, driven by robust passenger demand across domestic and international routes. Consolidated after-tax profit surged by 564%, totaling…

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Sun Country Airlines Sees Modest Revenue Increase and Sharp Net Income Decline in Fiscal Q3 2024

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Sun Country Airlines Holdings posted its financial results for the third quarter of fiscal 2024, showing a modest 0.2% increase in total operating revenue, totaling $249.5 million. Despite this slight revenue growth, the airline saw a sharp 69.1% decline in net income, ending the quarter with $2.3 million in profits. This decline in net income…

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Russia’s State Transport Leasing Company Sees 9M 2024 Net Profit Drop Amid Revenue Surge

ByAdmin

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…

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S&P Downgrades Azul’s Credit Rating to CC Amid Debt Restructuring

ByAdmin

S&P Global has downgraded the credit rating of Brazilian airline Azul from CCC+ to CC, with a negative outlook, following the airline’s recent financing agreement with bondholders. This move reflects S&P’s view that the restructuring deal, aimed at providing Azul with additional liquidity, qualifies as a “distressed” transaction. The downgrade signals ongoing financial strain for…

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FTAI Aviation Reports Strong Q3 2024 Results and Declares Dividend

ByAdmin

FTAI Aviation Ltd. has reported a strong financial performance for the third quarter of 2024, highlighting significant revenue growth and operational achievements. The company declared a quarterly dividend of $0.30 per common share, underscoring its commitment to delivering shareholder value.