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Connect Airlines’ MoU hints at further major investment

New regional Canada-US airline Connect Airlines could be in line for significant investment from a “major US airline,” according to correspondence between the company and the US Department of Transport. 

The letter explained how a memorandum of understanding (MoU) could transform the commercial relationship into an equity investment, depending on the results of Connect’s next funding round. 

Source: Pharmaceutical Technology

Emirates and Shell sign 300,000 gallon SAF agreement

UAE flag carrier Emirates has announced a sustainable aviation fuel (SAF) agreement with Shell Aviation, which will oversee the provision of 300,000 gallons of blended SAF delivered to the airline’s Dubai hub. The first delivery is expected in Q4 2023 and will be the first SAF supply to enter the Dubai International Airport fuelling system.

Source: Pharmaceutical Technology

Textron and NetJets sign record fleet agreement

Textron Aviation and NetJets have announced a record fleet agreement in which NetJets will have the option to acquire up to 1,500 more Cessna Citation business aircraft over the next 15 years. According to Textron, this arrangement will prolong NetJets’ current fleet agreement and provide options for an increasing number of aircraft each year over a 15-year period.

Source: Pharmaceutical Technology

Bangalore Airport investment driven by business travel

Fairfax India, a holding company focused on private and public equity securities in India, has twice invested in Indian airport Bangalore Airport in Q2 2023. It first bought a 3% stake for $75m, before extending its ownership to 10% with a second 7% purchase worth $175m. 

Source: Pharmaceutical Technology