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Air Albania Faces Bankruptcy, Cuts Operations To Single Route

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Air Albania is facing a severe financial crisis that has brought the country’s national carrier to the edge of bankruptcy. According to local media reports, the airline has failed to pay employee salaries for months, neglected to deposit social security contributions, and continues selling tickets despite mounting operational and financial troubles. Numerous flights have been cancelled…

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AAPA Reports $7.3B Profit For Asia Pacific Carriers In 2024

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AAPA (Association of Asia Pacific Airlines) has released its financial performance report for 2024, highlighting a significant turnaround and robust profitability for the region’s carriers. Collectively, Asia Pacific airlines recorded a net profit of $7.3 billion, showcasing a successful recovery trajectory and operational resilience.

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Ural Airlines Allocates $84.5M In Dividends From 2024 Profit

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Ural Airlines, a Russian carrier, has announced it will distribute $84.5 million in dividends from its 2024 profits, reflecting strong financial performance during the year. The company also revealed that the remaining $130.6 million of net profit will be directed to its Accumulation Fund, aimed at supporting future growth and strategic investments.

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ITA Airways Reports $3.5B Revenue But Ends 2024 In Loss

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ITA Airways, Italy’s flag carrier, reported revenues of $3.5 billion for the full year 2024, representing a 26% increasecompared to the previous year, driven by expanded route offerings and improved passenger volumes. Despite this revenue growth, the airline recorded a net loss of $256.6 million, highlighting continued operational challenges and restructuring costs.

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Airseven Posts Record Profit Of $1.2M In 2024

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Airseven (Denmark) has announced a net profit of US$1.2 million for the fiscal year 2024, its strongest financial performance since the airline’s establishment in 2020. The result represents a major milestone in the carrier’s development and reflects a successful rebound from early operational challenges and pandemic-related disruptions.

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Vertical Aerospace Raises $90 Million in Public Offering

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Vertical Aerospace, the UK-based leader in electric vertical take-off and landing (eVTOL) aircraft, has announced the successful closing of its underwritten public offering, generating gross proceeds of $90 million. The funds were raised before deducting underwriting discounts, commissions, and other associated expenses.

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Boeing Reports $11.8 Billion Loss for 2024 Despite Growing Backlog

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Boeing has reported a challenging financial year for 2024, with a 14% drop in revenue to $66.5 billion and a net loss of $11.8 billion. In the fourth quarter, the company faced a 31% revenue decline to $15.2 billion, accompanied by a net loss of $3.86 billion.

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Jackson Square Aviation Supports Cebu Pacific with Sale-Leaseback

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Jackson Square Aviation (JSA), a leading US-based aircraft lessor, has announced the completion of a sale and leaseback agreement with Cebu Pacific Air, the Philippines’ largest low-cost carrier. The deal includes one A330neo and seven A321 aircraft, finalized in December 2024. Additionally, a second A330neo is scheduled for delivery in the first half of 2025.