Maintenance, repair and overhaul news from around the world
Changi Airport Group generated total revenue of $1.393 billion around double the $698 million in FY2021/22. The airport returned to profit in the FY2022-23 by focussing on driving operational transformation and keeping service levels high. Despite doubling total...
Corporación América Airports (CAAP) recorded $382.1 million in revenue in the first quarter of 2023 (Q1 2023), a 48.% year-on-year increase and 6% more than in Q1 2019. The cash included $68.3 million in aeronautical revenues, $37.1 million in commercial and $20.3...
US airfares have so far in 2023 been put up by an average of 17% compared to 2022, going by analysis published by CheapAir.com. The year-on-year assessment of 128 million US airfares showed no city was "spared from higher flight prices", according to CheapAir.com,...
Icelandic airport operator Isavia and Nordic Investment Bank (NIB) on May 16 signed an agreement for a ten-year loan of €50 million to pay for construction work at Keflavík Airport. Expansion of the eastern wing of the hub will add 23,000 square meters, or 30%, when...
Maintenance business Triumph has reported net sales of $393.3 million for the fourth fiscal quarter of 2023 (Q4 2023) but a net loss of $17.5 million, or 27 cents a share. The company's operating income came to $56.2 million, for an operating margin of 14%, while its...
Canadian operator Cargojet has declared a cash dividend of $0.2860 per common voting share and variable voting share for the period from April 1 2023 to June 30. "The record date for determining shareholders of the Corporation entitled to receive payment of the...
SpiceXpress, subsidiary of SpiceJet will receive an investment of $100 million from UK-based SRAM and MRAM Group. Both sides have signed a Memorandum of Understanding (MoU) as part of the investment deal, the airline said in a statement. The MoU comes after a debt...
Aircraft engine manufacturer Pratt & Whitney Canada is to spend $10 million on upgrading its component repair facility in Wichita Falls, Texas. The outlay, which the engine maker said "is expected to create 30 new jobs", will see it modify the plant's coatings...
Archer Aviation, a developer of electric vertical take-off and landing (eVTOL aircraft), reported a net loss of $113.1 million for the first quarter of the year (Q1 2023) as operating expenses hit $112 million. However, the company said it "continues to maintain a...
Rolls-Royce's financial performance is improving, the company announced on May 11, ahead of its annual general meeting (AGM) taking place the same day. The company said the improvement has been "driven by our transformation programme workstreams and good end market...
Aersale reported quarterly revenue of $78.3 million, down on the $122.8 million in the first quarter of 2022. The company reported net income of $5,000 compared to the $17.2 million for the prior-year period, with adjusted net income of $3.3 million versus $22.2...
Howmet Aerospace recorded first quarter 2023 (Q1 2023) revenue of $1.6bn, up 21% on Q1 2022. The increase was driven by commercial aerospace, revenue for which climbed 29%, helping the company to a net income of $148 million, or $0.35 per share, a 13% increase. Net...