Crestone, a U.S.-based aviation investment firm, has expanded its portfolio with the acquisition of two Boeing narrowbody aircraft currently under lease with major North American carriers. The firm has purchased one B737-800, leased to Sunwing Airlines of Canada, and one B737-700, leased to Southwest Airlines in the United States.
In a significant development within the cargo sector, WestJet, the Canadian airline, is facing a strategic shift with the resignation of Kirsten de Bruijn, Executive Vice President of Cargo. This move comes as WestJet evaluates the future of its cargo operations, specifically the winding down of its freighter activities.
Canadian cargo carrier Cargojet has announced that its Chief Financial Officer, Scott Calver, has chosen to depart the company to explore other professional opportunities. The transition marks a leadership change within the finance division of the company.
Volga-Dnepr Group (Russia) has initiated a lawsuit against Canadian authorities over the sanctions and seizure of its An-124-100 aircraft in Toronto. The aircraft, which has been grounded in Canada since sanctions were imposed, is now at the center of a legal and diplomatic dispute.
Cargojet (Canada) reported a strong financial performance for 4Q 2024, with total revenue rising 32.1% to $206.7 million and net earnings reaching $50.2 million. The company’s full-year 2024 revenue grew 14.1% to $705 million, with net earnings of $108.4 million and net cash reserves of $231.7 million.
Porter Airlines (Canada) has announced the addition of a new route between Toronto Pearson International Airport (YYZ) and New York LaGuardia Airport (LGA), with flights set to commence on 1 May 2025. The airline will operate the route with the Embraer E195-E2, expanding its footprint in the Canada-US market.
WestJet, Canada’s leading low-cost carrier, has unveiled a new seasonal service connecting Calgary (YYC) and New York LaGuardia (LGA). This route will operate between May 24 and August 30, 2025, providing a direct link between Western Canada and one of the world’s most iconic cities.
American Airlines, a leading US carrier, has unveiled plans to launch a new seasonal route connecting New York LaGuardia Airport (LGA) and Calgary International Airport (YYC). The service is scheduled to commence on June 7, 2025, and will be operated using the Boeing 737-8 aircraft.
Cargojet, a leading Canadian cargo airline, has announced that its Chief Financial Officer, Scott Calver, is on medical leave until further notice. In his absence, Sanjeev Maini, Vice President of Finance, has been appointed as the acting CFO, ensuring continuity in the company’s financial leadership.
Porter Aircraft Leasing (Canada) has entered into sale and leaseback financing agreements with Avolon (Ireland)for four PW1921G engines. These engines are slated for delivery in 2025 and 2026 and will support Porter’s ongoing acquisition of E195-E2 aircraft.
