Maintenance, repair and overhaul news from around the world
H3X Technologies has announced an investment by Lockheed Martin Ventures (LMV), part of Lockheed Martin Corporation. H3X said the investment is to "accelerate technology development and commercialisation of H3X’s HPDM family of integrated motor drives" and to...
The US government is to disburse nearly $1bn in infrastructure grants to 99 airports in 47 states. The money, which is to be spent under the 2021 Bipartisan Infrastructure Law, is to "meet the growing demand for air travel and invests in key areas to help get...
Joby Aviation has reported a net loss of almost $67 million after ending 2022 with $1.1bn in cash and short-term investments, including an up-front equity investment of $60 million by Delta Air Lines. The loss, which was $72 million lower than in 2021, stemmed mostly...
The main shareholders of Electra Airways, Classic Air, ETG Maintenance and Maverick Horizon have set up Vector Group, based in Tel Aviv, as a "vertically integrated" amalgam of the quartet. The group brings together Bulgarian airline Electra, compatriot maintenance...
Amsterdam's Schiphol Airport had a bad 2022 according to parent company Royal Schiphol Group. Publishing what it said were "poor financial results for 2022", the group said its "underlying financial result" was a loss of €28 million, "despite a strong recovery in...
Cargo drone airline Dronamics has raised $40 million from venture capital funds and angel investors in 12 countries. Dronamics, which is the first such business to get a European operating licence, said the money came from Founders Factory, Speedinvest, Eleven Capital...
Fabrum recently announced a $23 million Series A financing led by AP Ventures with participation from Australia-based Fortescue Future Industries, Japan-based Obayashi Corporation and New Zealand-based K1W1. With the new funding, Fabrum plans to expand its global...
Aircraft motion and controls systems maker Moog has reported first quarter 2023 (Q1 2023) diluted earnings per share of $1.44, an increase of 14% compared to Q1 2022. Net sales were up 6% on Q1 2022 to $740 million, the company reported. The operating margin for the...
New York Stock Exchange-listed Hexcel has announced a regular quarterly cash dividend of US $0.125 per share on the common stock of Hexcel, which it said would be payable to stockholders of record as of February 10, with payment date to follow on February 17. Hexcel...
American Airlines has reported what it said was "record fourth-quarter revenue of US $13.2bn", a 16.6% increase over the same period in 2019. "The company produced an operating margin of 10.5% in the quarter. American also produced record revenues of $49 billion for...
GMR Hyderabad International Airport Limited (GHIAL), a subsidiary of GMR airports, India has raised funds through the issuance of 10-year listed, rated, redeemable, secured non-convertible debentures (NCDs) amounting to INR 11.5 bn on a private placement basis. The...
Swissport has received a binding commitment from an ad hoc group of senior secured creditors for the provision of an interim super senior facility of €300 million, which the firm says delivers immediate liquidity for Swissport to trade through the COVID-19 market...