Latest news with #Trent1000
Yahoo
07-05-2025
- Business
- Yahoo
Phoenix Aviation Capital Acquires one Boeing 787-8 Aircraft on Lease with LOT Polish
DUBLIN and STAMFORD, Conn., May 7, 2025 /PRNewswire/ -- Phoenix Aviation Capital ("Phoenix"), a full-service aircraft lessor, and AIP Capital, an alternative investment manager focused on opportunities in in asset-based finance today announced the acquisition of one Boeing 787-8 aircraft on long-term lease with LOT Polish Airways. AIP Capital Logo (PRNewsfoto/AIP Capital) The aircraft acquired by Phoenix, bearing manufacturers serial number 35942, is a 2014 vintage Boeing 787-8 powered by Trent 1000 engines. In September 2024, Phoenix had placed four next-generation Boeing 737 MAX 8 aircraft on long-term lease with LOT Polish Airways. Vinson & Elkins LLP served as transaction counsel and KPMG acted as tax advisor to AIP Capital. About Phoenix Aviation Capital Phoenix Aviation Capital is a full-service aircraft lessor focused on financing modern, in-demand aircraft and is dedicated to meeting the financing needs of its airline customers across the globe. Phoenix Aviation Capital is based in Dublin and is managed by AIP Capital, a global aviation asset management and investment firm. For more information about Phoenix Aviation Capital or to speak with company executives, please contact About AIP Capital AIP Capital (AIP) is a global alternative investment manager focused on opportunities in asset-based finance including aviation and equipment finance. AIP, together with its affiliates, manages approximately $4 billion of assets on behalf of a diversified global investor base. The AIP team is comprised of more than 30 experienced professionals across AIP's offices in Stamford, New York City, Dublin, and Singapore. For more information about AIP Capital or to speak with company executives, please contact Media Contact AIP Capital Geoffrey Bayers Phoenix Aviation Capital Logo (PRNewsfoto/AIP Capital) Cision View original content to download multimedia: SOURCE AIP Capital
Cision Canada
07-05-2025
- Business
- Cision Canada
Phoenix Aviation Capital Acquires one Boeing 787-8 Aircraft on Lease with LOT Polish
DUBLIN and STAMFORD, Conn., May 7, 2025 /CNW/ -- Phoenix Aviation Capital ("Phoenix"), a full-service aircraft lessor, and AIP Capital, an alternative investment manager focused on opportunities in in asset-based finance today announced the acquisition of one Boeing 787-8 aircraft on long-term lease with LOT Polish Airways. The aircraft acquired by Phoenix, bearing manufacturers serial number 35942, is a 2014 vintage Boeing 787-8 powered by Trent 1000 engines. In September 2024, Phoenix had placed four next-generation Boeing 737 MAX 8 aircraft on long-term lease with LOT Polish Airways. Vinson & Elkins LLP served as transaction counsel and KPMG acted as tax advisor to AIP Capital. About Phoenix Aviation Capital Phoenix Aviation Capital is a full-service aircraft lessor focused on financing modern, in-demand aircraft and is dedicated to meeting the financing needs of its airline customers across the globe. Phoenix Aviation Capital is based in Dublin and is managed by AIP Capital, a global aviation asset management and investment firm. For more information about Phoenix Aviation Capital or to speak with company executives, please contact [email protected]. AIP Capital (AIP) is a global alternative investment manager focused on opportunities in asset-based finance including aviation and equipment finance. AIP, together with its affiliates, manages approximately $4 billion of assets on behalf of a diversified global investor base. The AIP team is comprised of more than 30 experienced professionals across AIP's offices in Stamford, New York City, Dublin, and Singapore. For more information about AIP Capital or to speak with company executives, please contact [email protected]. Media Contact AIP Capital Geoffrey Bayers [email protected]
Trade Arabia
10-04-2025
- Business
- Trade Arabia
Virgin Atlantic 2024 results show record revenues, profitability
Virgin Atlantic has released its annual financial results for the year ending 31st December 2024. The airline reported a Profit Before Tax and Exceptional Items of £20 million ($25 million), returning to profitability for the first time since the pandemic. Record revenues of £3.3bn (up £183 million versus 2023) were fuelled by passenger capacity growth of 7.6%, continued demand for business and premium leisure travel and the launch of Unlimited Availability reward seats for members of Flying Club. Virgin Atlantic Holidays regained its number one position in Florida and reported revenue of £517 million, up 10% versus 2023. Continued cost discipline contributed to the airline achieving its highest ever Earnings Before Interest and Tax (EBIT) of £230 million, more than quadrupling the £48 million delivered in 20231 and bolstering progress towards sustainable profitability. Virgin Atlantic strengthened its balance sheet, ending the year with a cash position of £443 million (up £37m versus 2023), inclusive of paying down £174m of pandemic-related debt. Since 2022, the airline has paid down £500 million of debt incurred during the pandemic and in 2024 completed £485 million of debt financing on improved terms. Velocityx, the airline's four-year strategic plan, supporting its mission to become the most loved travel company and sustainably profitable, ends in December 2025. In Virgin Atlantic's 40th anniversary year, the 2024 financial, commercial and operational results illustrate the plan is working, setting firm foundations for the future. Full Year 2024 Financial Results Summary Virgin Atlantic carried 5.6m passengers in 2024, with a load factor of 77.3%. Passenger capacity (ASKs) ended the year 7.6% higher than 2023 with 24,832 sectors flown on 43 aircraft (average) – up from 23,551 sectors in 2019 on 45 aircraft, demonstrating enhanced fleet utilisation. 2024 passenger revenue of £2.6 billion – beating previous records and up £179 million versus 2023, with a record £1bn revenue originating from the US. Despite operational challenges, due to reduced availability of Rolls Royce Trent 1000 engines, a flight completion factor of 98.6% was achieved and Virgin Atlantic was recognised as the most punctual airline in the UK. Virgin Atlantic Holidays met demand for premium sun destinations, carrying 255k holiday makers and delivering £517m revenue, up from £468m in 2023. Ending the year with a #1 market share position out of the UK3, Virgin Atlantic Cargo operated 199m tonnes of cargo and delivered revenue of £236m, exceeding 2023 revenue of £196m by capitalising on continued disruption to Red Sea freight and increased capacity out of India. Continued cost discipline resulted in total airline non-fuel costs of £2.0bn and non-fuel cost per ASK (NFCASK) of 3.99p, in line with 2023 and 16 points below CPI (indexed to 2019). Operating profit (EBIT) of £230m is four times greater than 20231 and double that reported in 1999, the airline's previous record. During 2024, Virgin Atlantic paid down £174m of pandemic debt, including a 2020 Davidson Kempner loan repaid in September 2024. The airline ended the year with a total cash position of £443m. Other Highlights from 2024 In July, the airline completed its fleet transformation, confirming an order for seven Airbus A330-900s, bringing its A330neo fleet to 19. By 2028, its fleet of 45 next gen aircraft will comprise 19 A330-900s, 12 A350-1000s, and 14 787-9s, with an average age of 6.9 years. In October, Virgin Atlantic's Flying Club launched Unlimited Availability, becoming the first UK loyalty programme to allow members to pay for any seat onboard with Virgin Points. A reimagined launched at the end of the year, unifying Flights and Holidays together in one place for the first time. For an eighth year running, the airline was recognised as Britain's only Five Star Airline by APEX. Shai Weiss, CEO, Virgin Atlantic, commented: 'Our performance in 2024 marked a big step forward in our mission to become the most loved travel company and sustainably profitable, with record revenues and operating profit achieved in our fortieth year. We returned to profitability for the first time since the pandemic, repaid a large chunk of debt and faced into operational challenges by taking decisive action. 'Our teams do their absolute best, every day, to make our customers smile. It's that simple. I'm so proud to see their great efforts result in success, from the rollout of Unlimited Availability reward seats and unification of our Flight and Holiday business on to growth in India with the launch of flights to Bengaluru. '2024 was a turning point for Virgin Atlantic and the culmination of our transformation. We have a plan in place for 2025, with much to look forward to including a new app, new routes to Toronto, Riyadh and Cancun, a new clubhouse in Los Angeles and greater stability for our operation. In 2025, we dare to imagine an even better future. Let's make it happen.'
Yahoo
04-04-2025
- Business
- Yahoo
Aircraft Turbofan Engine Market Report 2025: Top 3 Competitors Accounted for Over 99% Share in 2023 - Opportunity and Strategy Analysis to 2034
This report describes and explains the aircraft turbofan engine market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region. Aircraft Turbofan Engine Market Dublin, April 04, 2025 (GLOBE NEWSWIRE) -- The "Aircraft Turbofan Engine Market Opportunities and Strategies to 2034" report has been added to offering. The global aircraft turbofan engine market reached a value of nearly $3.14 billion in 2024, having grown at a compound annual growth rate (CAGR) of 0.58% since 2019. The market is expected to grow from $3.14 billion in 2024 to $4.44 billion in 2029 at a rate of 7.15%. The market is then expected to grow at a CAGR of 6.70% from 2029 and reach $6.14 billion in in the historic period resulted from the rising aircraft orders, growing defense budget, increased air travel and expansion of aviation infrastructure. Factors that negatively affected growth in the historic period were contamination issues and increasing raw material costs. Going forward, the increasing demand for air cargo, strong economic growth in emerging markets and government support will drive the growth. Factor that could hinder the growth of the aircraft turbofan engine market in the future include supply chain global aircraft turbofan engine market is highly concentrated, with large players operating in the market. The top ten competitors in the market made up 99.26% of the total market in 2023. General Electric Company was the largest competitor with a 54.79% share of the market, followed by Raytheon Technologies Inc. (Pratt & Whitney) with 26.04%, Rolls-Royce Holdings plc with 18.31%, Williams International Co. LLC with 0.03%, Honeywell International Inc. with 0.019%, IHI Corporation with 0.018%, Safran S.A. with 0.01485%, MTU Aero Engines AG with 0.01477%, Mitsubishi Heavy Industries Aero Engines Ltd. with 0.013% and AECC Commercial Aircraft Engine Co. Ltd. with 0.012%.The aircraft turbofan engine market is segmented by engine type into PW4000, GEnx, Trent 1000, F414 CFM LEAP and other engines. The CFM LEAP market was the largest segment of the aircraft turbofan engine market segmented by engine type, accounting for 57.31% or $1.8 billion of the total in 2024. Going forward, the CFM LEAP segment is expected to be the fastest growing segment in the aircraft turbofan engine market segmented by engine type, at a CAGR of 9.23% during aircraft turbofan engine market is segmented by aircraft type into narrow-body aircraft, wide-body aircraft and other types. The narrow-body aircraft market was the largest segment of the aircraft turbofan engine market segmented by aircraft type, accounting for 58.64% or $1.84 billion of the total in 2024. Going forward, the wide-body aircraft segment is expected to be the fastest growing segment in the aircraft turbofan engine market segmented by aircraft type, at a CAGR of 7.78% during aircraft turbofan engine market is segmented by application into military aviation, commercial air transport and other applications. The commercial air transport market was the largest segment of the aircraft turbofan engine market segmented by application, accounting for 62.94% or $1.98 billion of the total in 2024. Going forward, the military aviation segment is expected to be the fastest growing segment in the aircraft turbofan engine market segmented by application, at a CAGR of 7.57% during America was the largest region in the aircraft turbofan engine market, accounting for 46.70% or $1.46 billion of the total in 2024. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the aircraft turbofan engine market will be Asia Pacific and Middle East where growth will be at CAGRs of 8.47% and 8.25% respectively. These will be followed by Africa and Western Europe where the markets are expected to grow at CAGRs of 7.93% and 7.07% top opportunities in the aircraft turbofan engine market segmented by engine type will arise in the CFM LEAP segment, which will gain $1.0 billion of global annual sales by 2029. The top opportunities in the aircraft turbofan engine market segmented by aircraft type will arise in the narrow body aircraft segment, which will gain $722.02 million of global annual sales by 2029. The top opportunities in the aircraft turbofan engine market segmented by application will arise in the commercial air transport segment, which will gain $817.17 million of global annual sales by 2029. The aircraft turbofan engine market size will gain the most in the USA at $478.75 strategies for the aircraft turbofan engine market include focus on developing solutions to get self-sufficiency in the military aviation market, focus on domestic engines development to enhance self-reliance, reduce dependency and foster innovation within the aerospace sector, focus on developing innovations in aircraft turbofan engine to gain a competitive edge in the market and focus on advancement in turbofan engine technology to enhance performance with improved specific fuel strategies in the aircraft turbofan engine market include focus on strengthening business operations through strategic partnerships, focus on product advancements for future growth and focus on enhancing geographical footprint across the globe through new take advantage of the opportunities, the analyst recommends the aircraft turbofan engine companies to focus on self-sufficiency in military aviation, focus on domestic engine development, focus on innovations in turbofan engine technology, focus on advancements in turbofan engine technology, focus on CFM LEAP for growth, focus on wide body aircraft for growth, expand in emerging markets, focus on expanding distribution channels for greater market reach, focus on competitive and value-based pricing for aircraft turbofan engines, focus on targeted digital marketing strategies to enhance brand visibility for companies, focus on building strong relationships with OEMs and airline decision-makers and focus on military aviation for Market Trends The Role of Military Turbofan Engines in Modern Aviation Fostering Aerospace Innovation Through Domestic Engine Development Innovations in Turbofan Engine Technology With Advance Development Advancements in Turbofan Engine Technology Key Mergers and Acquisitions Safran Acquired Component Repair Technologies FTAI Aviation Ltd Acquired Lockheed Martin Commercial Engine Solutions Key Attributes: Report Attribute Details No. of Pages 360 Forecast Period 2024 - 2034 Estimated Market Value (USD) in 2024 $3.14 Billion Forecasted Market Value (USD) by 2034 $6.14 Billion Compound Annual Growth Rate 6.9% Regions Covered Global Key Topics Covered: 1 Executive Summary1.1 Aircraft Turbofan Engine - Market Attractiveness and Macro Economic Landscape2 Table of Contents3 List of Tables4 List of Figures5 Report Structure6 Market Characteristics6.1 General Market Definition6.2 Summary6.3 Aircraft Turbofan Engine Market Definition and Segmentations6.4 Market Segmentation by Engine Type6.4.1 PW40006.4.2 GEnx6.4.3 Trent 10006.4.4 F4146.4.5 CFM LEAP6.4.6 Other Engines6.5 Market Segmentation by Aircraft Type6.5.1 Narrow-Body Aircraft6.5.2 Wide-Body Aircraft6.5.3 Other Types6.6 Market Segmentation by Application6.6.1 Military Aviation6.6.2 Commercial Air Transport6.6.3 Other ApplicationsSome of the major companies featured in this Aircraft Turbofan Engine market report include: General Electric Company Raytheon Technologies Inc. (Pratt & Whitney) Rolls-Royce Holdings plc Williams International Co LLC Honeywell International Inc. IHI Corporation Safran S.A. MTU Aero Engines AG Mitsubishi Heavy Industries Aero Engines Ltd. AECC Commercial Aircraft Engine Co Ltd. Raghu Vamsi Machine Tools Pvt Ltd Hanwha Aerospace Japan Airlines Hindustan Aeronautics Limited (HAL) Ishikawajima Harima Heavy Industries Co Ltd MTU Maintenance Zhuhai Co Ltd. Kawasaki Heavy Industries Ltd. EuroJet Turbo GmbH Liebherr-Aerospace GE Aviation Systems Limited United Engine Corporation (UEC) Motor Sich Zorya-Mashproekt CFM International Wright and Engine Company Boeing Aero Turbine Inc StandardAero Inc Lockheed Martin Commercial Engine Solutions FTAI Aviation Ltd. Component Repair Technologies SKY Airline Turbomachine GE Aerospace Sanad Tusas Engine Industries Inc. For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Aircraft Turbofan Engine Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Sign in to access your portfolio
