Maintenance, repair and overhaul news from around the world
What the UK Department of Transport described as "a vital air route between City of Derry Airport and London Stansted" is to stay open until March 2024 after the government promised more money for it. "Today’s announcement will secure the future of the route for...
The Irish government is to spend almost €17 million on the country's regional airports, with the bulk of the cash going to Cork, Knock and Shannon. The allocations were announced by Jack Chambers, a junior minister in the transport department, during a visit to...
The Greater Toronto Airports Authority (GTAA) said 2022 passenger numbers through its airports "significantly increased" compared to 2021. The 181% year-on-year increase took traffic to 35.6 million passengers, or 70% of 2019, and was down "easing of pandemic-related...
Icelandic airports operator Isavia reported a 75% year-on-year rise in revenue in 2022 to over ISK 36bn (US$ 260 million) as passenger numbers through Keflavik Airport nearly tripled to 6.1 million and took the hub close to the 2019 level. Earnings (EBIDTA) came to...
Aéroports de Paris (ADP) and GMR Airports Infrastructure Ltd. agreed to fold their joint-venture company into GMR, giving ADP a liquid stake in a business that owns airfields in India. ADP owns 49% and GMR Airports own 51% stake in the unlisted GMR Airports Ltd....
Gatwick Airport made £195.2 million profit in 2022 as passenger numbers topped 32 million. The return to profit came after heavy losses of over £800 million over 2020 and 2021 but chief executive Stuart Wingate said the south London hub still has "some way to go"...
Santa Clara-based Archer Aviation, a developer of electric vertical takeoff and landing (eVTOL) aircraft taxis, said the collapse of Silicon Valley Bank (SVB) is "not expected to have any impact on its business or operations". Archer said "maintains only a small...
Engine lessor Willis Lease Finance Corporation (WLFC) recorded revenue of $311.9 million and pre-tax income of $9.8 million in 2022. By year-end, aggregate lease rent and maintenance reserve revenues were $246 million and spare parts and equipment sales were $27...
FTAI Aviation has priced its previously announced registered underwritten public offering of 2.6 million fixed-rate reset series D cumulative perpetual redeemable preferred shares. Jet engine business FTAI announced a liquidation preference iof $25 per share at a...
Nippon Yusen Kabushiki Kaisha (NYK), Shipping and logistics company has signed a memorandum of understanding with ANA Holdings to transfer the entire shares of its cargo airline Nippon Cargo Airlines (NCA). While no acquisition price has been announced yet, ANA will...
Cargojet reported revenue of C$267 million (US$ 196 million) for the fourth quarter of 2022 (Q4 2022), an increase on the C$235.9 million recorded during the same period in 2021. Gross margin for the quarter was down to C$61.9 million compared to Q4 2021's C$78.2...
GE Aerospace has said it expects to invest more than $335 million in the US in 2023. The money will be used to improve assembly, expand capacity and enhance safety infrastructure at sites in five states and will be part of $450 million in spending planned by the wider...