SpiceJet has finally hived off its cargo arm-SpiceXpress, making it a separate entity. With this transaction, SpiceJet has gained around $310 million and considerably reduced its negative net worth. “...
Avia Solutions Group (ASG) has reported a near-doubling of revenue to €1.9bn (US$ 2.06bn) in 2022, leaving it with a profit of €12 million after earnings of €285 million. Over 80% of revenue was gener...
Virgin Orbit is cutting "approximately 675 employees" or 85% of its workforce, it said in a Securities and Exchange Commission (SEC) filing on March 30. The cut is "to reduce expenses in light of the...
ASL Aviation Holdings has acquired Pionair, Australia’s independent provider of charter and ACMI services. Post-acquisition, the airline will continue to operate as Australian airline and will be re-b...
International Finance Corporation (IFC), a subsidiary of the World Bank is reportedly going to assist the Sri Lankan Finance Ministry in the divestment process of SriLankan Airlines along with its sub...
Stratus Financial, a company founded by flight and ground instructors in the US, has announced a deal withL3Harris Technologies to give "more comprehensive financial services" to L3Harris’ flight aca...
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...
Florida-based luxury private jet operator SpeedBird is to merge with Northern Jet Management (NJM), a counterpart company based in the US mid-west. The transaction is set to close in the second quarte...
Canada Jetlines has announced that its revenue for 2022 came to $3.3 million, with 72% derived from charter and wet-lease operations after the carrier's first flights in September. The company reporte...
TUI Group announced a full underwritten capital increase on March 24 aiming to raise €1.8bn. The group aims to use the net proceeds to fully repay its state aid loan."The full repayment of the Corona...
Air Astana Group reported an after-tax profit of $78.4 million in 2022, reporting a strong recovery in an attempt to position itself as a new hub for East-West route. The airline posted a revenue of $...
Sri Lanka’s aviation minister, Nimal Siripala De Silva has hinted at the restructuring and sale of SriLankan Airlines, according to sources. Multinational finance advisory Lazard is helping to prepare...
We're Social