THURSDAY MAR 28, 2024
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Tag: finance
NEWS Mar 09, 2024 NLX Raises $12 Million in Funding: How Airlines Use Its AI Technology to Enhance Their Operations American enterprise artificial intelligence (AI) provider NLX raised $12 million in Series A funding for operational expansion and development efforts. JetBlue's venture capital division, JetBlue Ventures, contributed to the funding round. Meanwhile, United Airlines and Copa Airlines have worked with NLX to incorporate AI into their operations. Read More →
NEWS Mar 06, 2024 Azul Working With Investment Banks in Potential Takeover of Bankrupt Rival Gol Azul Linhas Aéreas (Azul) is contemplating a takeover of Gol Linhas Aéreas Inteligentes (Gol) after Gol filed for bankruptcy in January. Both Brazilian-based budget carriers have experienced difficult economic setbacks since the initial outbreak of the COVID-19 pandemic. Read More →
NEWS Feb 29, 2024 CycloTech Raises €20 Million in Funding for its Innovative Aviation Propulsion System Austrian aviation technology company CycloTech recently secured €20 million ($21.6 million) in financing to develop its flight propulsion technology. The investment was announced on February 28, only a few weeks after the company announced plans to raise funding. Read More →
NEWS Feb 28, 2024 Southwest Airlines Launches Venture Firm for Sustainable Aviation Fuel, $30 Million Investment in Fuel Producer LanzaJet Southwest Airlines announced the launch of Southwest Airlines Renewable Ventures (SARV), a subsidiary focused on helping the airline achieve its sustainability goals by obtaining sustainable aviation fuel (SAF). Southwest also announced a $30 million investment in sustainable fuel technology company and producer LanzaJet. Read More →
NEWS Feb 28, 2024 Korean Air Will Give Three Airbus A350 Planes to T'way Air The proposed merger between Korean Air and Asiana Airlines requires a solution to prevent the combined carrier from having a monopoly in South Korea's aviation market. One solution suggested was to supply T'way Air, a South Korean low-cost carrier (LCC), with five Airbus A330-200s from the Korean Air fleet. However, reports indicate that Korean Air is considering giving three Airbus A350-900s from the Asiana fleet once the merger is complete. Read More →
NEWS Feb 25, 2024 FlyDubai's Record-Breaking Profit: Can It Compete With Major Airlines? FlyDubai, a prominent budget carrier headquartered in Dubai, United Arab Emirates, made headlines with its remarkable financial performance in 2023. The airline achieved record profits of $572 million, a substantial increase from the previous year's earnings of $327 million. Robust operational metrics, including significant growth in passenger numbers and revenue generation, fueled this surge in profitability. Read More →
NEWS Feb 23, 2024 Cosmic Aerospace Raises $4.5 Million in Funding to Develop Electric Aircraft Cosmic Aerospace, a startup developing an electric aircraft, raised $4.5 million in funding earlier this month. The company is currently working on the aircraft's design after building and successfully testing its engine. Read More →
INFORMATIONAL Feb 20, 2024 What Can JetBlue Expect After Activist Investor Carl Icahn Acquired a 10% Stake in the Airline? Activist investor Carl Icahn has taken a 10% interest in JetBlue by purchasing 33.6 million shares of its stock in January and February. His investment has caused a more than 18% rise in the prices of JetBlue stock, a phenomenon known as the Icahn Rise. There are several possible reasons for Icahn taking a stake in JetBlue, ranging from a simple profit-taking opportunity to long-term airline control. Read More →
NEWS Feb 17, 2024 Hawaiian Airlines Shareholders Approve Proposed Acquisition by Alaska Airlines Hawaiian Airlines shareholders voted to approve the merger with Alaska Airlines on February 16. Although the deal remains subject to regulatory approvals, it is expected to be completed between 12 to 18 months. Under the merger, Alaska Airlines will acquire Hawaiian Airlines for $1.9 billion.  Read More →
NEWS Feb 14, 2024 European Union Approves Korean Air's $1.4 Billion Acquisition of Asiana Airlines A merger between South Korea's two largest airlines, Korean Air and Asiana Airlines, has been under discussion for several years. After uncertainty over the merger's status, news emerged showing that progress is continuing. On February 13, the European Commission approved Korean Air's acquisition of Asiana Airlines, providing another green light for the merger. Read More →