Condor, a German leisure airline, has received its inaugural Airbus A320neo on lease from Avolon following a ceremony in Toulouse. This milestone marks the airline’s ongoing fleet modernisation, which already features the A330neo for long-haul routes. By utilising aircraft from the A320 and A330neo families, Condor aims to maximise the benefits of commonality between these two aircraft types. For over 20 years, Condor has utilised the A320 family on its European route network. With the introduction of the A320neo, the airline is leveraging its extensive experience while capitalising on the add ..read more

IAG Cargo, the cargo arm of International Airlines Group (IAG), has successfully transitioned its 160-strong ground vehicle fleet at London Heathrow from Diesel to hydrotreated vegetable oil (HVO). HVO, derived from plant waste and fully renewable materials, serves as a seamless replacement for White Diesel, significantly impacting net carbon emissions. For IAG Cargo, the shift to HVO promises to slash net greenhouse gas emissions by up to 90%, while also markedly reducing nitrogen oxide (NOx) and particulate matter (PM). These reductions are poised to curtail IAG Cargo’s Scope 1 emissions by ..read more

In a new development, AJW Group, a globally renowned independent provider of aircraft component parts, repair, and supply chain solutions, has announced the acquisition of a Boeing 787-900 Dreamliner. AJW Group solidifies its position with the acquisition of the Boeing 787-900, MSN 37109, which has recently arrived at Cotswold Airport, United Kingdom. The aircraft, equipped with GEnx-1B engines, boasts exceptionally low hours and cycles. The addition of this aircraft expands AJW Group’s diverse portfolio, which already encompasses an array of modern aircraft types and engines from Airbus and B ..read more

CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing (CDB Leasing), has signed new lease agreements for a fleet of an additional seven narrow-body and wide-body aircraft with its existing customer, Turkish Airlines (Turkish), the flag carrier of Türkiye. Under the new agreements, one used Airbus A330-343 will be delivered in May 2024 to support the expansion of Turkish’s mainline international operations, while another six Boeing 737 MAX 8 aircraft will be received between 2025 and 2026 by the carrier’s newly established subsidiary, Ajet. The CFM Internatio ..read more

Aviation market intelligence and advisory company IBA has revealed that with rising engine lease rates and market values showing double-digit growth, the engine sector is now a “lessors’ market”. The latest IBA analysis shows that engine leasing activity has grown significantly with operators now favouring lease extensions to secure lift. In its recent webinar on the engine market, experts from IBA, Mike Yeomans, Director – Valuations and Consulting, Kane Ray, Head of General Aviation and Aftermarket, and Jamie Davey, Manager – Engines and Parts, discussed and explained the trends. As the indu ..read more

Boeing, on April 24, disclosed a US$355 million loss for the initial three months of the year, grappling with a quality dilemma stemming from a January 5, flight where a panel detached from one of its aircraft. The reported loss, though significant, was less severe than analysts’ projections, and notably smaller than the US$425 million loss in the corresponding quarter last year. Despite generating over US$16.5 billion in revenue in the first quarter, a decrease from the previous year, the company saw a substantial cash burn of nearly US$4 billion, surpassing analyst forecasts in both instance ..read more

JetBlue, ‘New York’s Hometown Airline®’, has unveiled its financial performance for the first quarter ending March 31, 2024. The airline disclosed a net loss of US$716 million, representing a year-on-year revenue decline of 5.1% to US$2.2 billion. As of the end of the first quarter, JetBlue held US$1.7 billion in unrestricted cash, cash equivalents, short-term investments and long-term marketable securities. Additionally, the company maintains an undrawn revolving credit facility worth US$600 million. JetBlue’s revenue per available seat mile (RASM) for the first quarter experienced a decrease ..read more

Spirit AeroSystems has disclosed an agreement with Boeing, whereby the aerospace giant will furnish advance payments totalling US$425 million, according to REUTERS news agency. This agreement aims to assist Spirit in addressing challenges such as elevated inventory levels and reduced cashflows, following the U.S. aviation regulator’s imposition of a production cap on Boeing’s 737 MAX aircraft. Under the terms of the agreement unveiled by Spirit on Tuesday, April 23, the company will uphold a production rate that aligns with Boeing’s contractual production requirements. This development unfolds ..read more

Robinson Helicopter Company (RHC) has completed the acquisition of Ascent AeroSystems, which now operates as a wholly owned subsidiary of Robinson Helicopter Company. This strategic move underscores Robinson’s commitment to advancing innovation, expediting new rotorcraft developments, and supporting diverse missions globally. By harnessing the expertise and resources of both entities, Robinson reinforces its position at the forefront of vertical flight systems and utility missions. Ascent AeroSystems is renowned for its efficient and compact coaxial helicopter drones, tailored for industrial ..read more

RTX has reported first quarter sales of US$19.3 billion, marking a 12% increase over the previous year. GAAP EPS rose by 32% to US$1.28, which included various adjustments such as acquisition accounting adjustments, tax audit settlements, and gains related to divestiture. Adjusted EPS stood at US$1.34, reflecting a 10% increase compared to the prior year. RTX reported a net income attributable to common shareholders of US$1.7 billion for the first quarter, with adjusted net income remaining flat compared to the prior year. Operating cash flow for the quarter was US$342 million, while capital e ..read more