Chen Feng, the former chairman of HNA Group, has been sentenced to 12 years in prison and fined $30.8 million for corruption offenses uncovered during the company’s extensive bankruptcy and restructuring process. The sentence comes following a sweeping investigation into mismanagement and financial misconduct at one of China’s most ambitious conglomerates.
Turkish Airlines has expanded its fleet with the recent delivery of a leased Airbus A320, identified by serial number 5073. This A320 is powered by V2527-A5 engines from IAE, known for their reliability and efficiency on short- to medium-haul routes. The addition supports Turkish Airlines’ strategy to strengthen its fleet and enhance its operational capabilities across various regional routes.
ITA Airways (Italy) chairman Antonino Turicchi has expressed optimism that the airline will secure final approval for its acquisition by Lufthansa Group (Germany) from the European Commission (EC) before the end of 2024. This approval marks a critical step in solidifying Lufthansa’s stake in the Italian national carrier.
Thai Lion Air, a leading low-cost carrier in Southeast Asia, has taken delivery of a new Boeing B737-900ER aircraft. The aircraft, bearing serial number 41843, comes on lease and is equipped with CFM56-7B26E engines, manufactured by CFM International, a global leader in jet engine technology.
In October 2024, Boeing recorded its lowest monthly delivery total since November 2020, with only 14 aircraft delivered. This marks a notable drop for Boeing, reflecting the challenges the manufacturer is facing in maintaining consistent delivery numbers. Despite the low output, Boeing received an order for seven B777F freighters from an unidentified customer or customers, highlighting ongoing demand for cargo aircraft even amid production…
Ryanair Holdings, the prominent low-cost airline group based in Ireland, has reported an 18% decrease in after-tax profit for the first half of its fiscal year 2025, totaling $1.9 billion. This comes alongside a modest 1% increase in total revenue, which reached $9.4 billion. Despite the profit decline, Ryanair remains committed to its financial strategies,…
