Passenger Demand Up 8.6% in August. Load Factor Reaches Record High

The International Air Transport Association (IATA) released data for August 2024 global passenger demand with the following highlights: •    Total demand, measured in revenue passenger kilometres (RPK), was up 8.6% compared to August 2023. Total capacity, measured in available seat kilometres (ASK), was up 6.5% year-on-year. The August load factor was 86.2% (+1.6ppt compared to August 2023), a new record high. •    International demand rose 10.6% compared to August 2023. Capacity was up 10.1% year-on-year and the load factor rose to 85.7% (+0.4ppt compared to August 2023).  •    Domestic demand rose 5.6% compared to August 2023. Capacity was up 1.2% year-on-year and the load factor was 86.9% (+3.6ppt compared to August 2023).  “The market for air travel is hot and airlines are doing a great job at meeting the growing demand for travel. Efficiency gains have driven load factors to record highs while the 6.5% capacity increase demonstrates resilience in the face of persistent supply chain issues and infrastructure deficiencies,” said Willie Walsh, IATA’s Director General. “Looking ahead, the continued strong demand growth signals that we could be fast approaching an infrastructure capacity crunch that would restrict connectivity and choice for passengers and businesses. If governments want to maximize the benefits of aviation, they must take bold decisions to ensure sufficient infrastructure capacity. And, in the interim, both airports and air navigation service providers need to do more with the resources they currently have. In particular, the variance in declared capacity of airports with broadly the same infrastructure needs to be resolved, with airports emulating the best performers. The industry cannot afford to under-utilize the airport infrastructure that we have,” said Walsh.

 

Air passenger market in detail - August 2024

August 2024 (% year-on-year) World share1 RPK ASK PLF (%-pt) PLF (level) Total Market 100% 8.6% 6.5% 1.6% 86.2% Africa 2.1% 9.6% 6.7% 2.1% 77.9% Asia Pacific 31.7% 13.4% 8.7% 3.6% 86.0% Europe 27.1% 7.8% 7.3% 0.4% 87.9% Latin America 5.5% 6.5% 8.1% -1.3% 84.0% Middle East 9.4% 5.0% 5.9% -0.7% 82.3% North America 24.2% 4.8% 2.4% 2.0% 87.1%

1% of industry RPKs in 2023

Regional Breakdown - International Passenger Markets All regions showed growth for international passenger markets in August 2024 compared to August 2023. Ticket sales in May-July for travel in August-September showed a 6.6% year-on-year increase, which bodes well for further strong growth this year.

NASA Establishes New Class of Astrophysics Missions, Selects Studies

Two proposals for missions to observe X-ray and far-infrared wavelengths of light from space were selected by NASA for additional review, the agency announced Thursday. Each proposal team will receive $5 million to conduct a 12-month mission concept study. After detailed evaluation of those studies, NASA expects to select one concept in 2026 to proceed with construction, for a launch in 2032.

The resulting mission will become the first in a new class of NASA astrophysics missions within the agency’s longstanding Explorers Program. The new mission class, Probe Explorers, will fill a gap between flagship and smaller-scale missions in NASA’s exploration of the secrets of the universe.

“NASA’s Explorers Program brings out some of the most creative ideas for missions that help us reveal the unknown about our universe. Establishing this new line of missions – the largest our Astrophysics program has ever competed – has taken that creativity to new heights,” said Nicola Fox, associate administrator, Science Mission Directorate at NASA Headquarters in Washington. “Both of the selected concepts could enable ground-breaking science responsive to the top astrophysics priorities of the decade, develop key technologies for future flagship missions, and offer opportunities for the entire community to use the new observatory, for the benefit of all.”

The National Academies of Sciences, Engineering, and Medicine’s 2020 Decadal Survey, Pathways to Discovery in Astronomy and Astrophysics for the 2020s, recommended NASA establish this new mission class, with the first mission observing either X-ray or far-infrared wavelengths of light. Mission costs for the new Probe Explorers are capped at $1 billion each, not including the cost of the rocket, launch services, or any contributions.

NASA evaluated Probe Explorers proposals based on their scientific merit in alignment with the Decadal Survey’s recommendations, feasibility of development plans, and use of technologies that could support the development of future large missions.

The selected proposals are:

American Airlines leaders join OBAP board, honoring legacy of David E. Harris

American Airlines is proud to announce that two of its leaders, Capt. Cory Glenn and Krystal McCoy, have been appointed to the Board of Directors of the Organization of Black Aviation Professionals (OBAP), a nonprofit dedicated to the encouragement and advancement of minorities in aviation and aerospace careers.

OBAP encourages diversity in the industry by supporting aspiring aerospace professionals through mentoring, scholarships, training and youth-focused education programs. Capt. Glenn and McCoy’s appointments reflect their successful contributions to the organization’s mission and American’s commitment to creating access and opportunities to careers in aviation.

“One of our airline’s greatest responsibilities is not only creating a path for future Black aviation professionals, but nurturing that path and the people on it,” said American’s Chief Operating Officer David Seymour. “That’s the important work that Cory and Krystal do every day and what we’re proud to see them do as part of OBAP’s board.”

About American’s new OBAP Board of Directors members

Capt. Cory Glenn, a check pilot on the Boeing 777, has a long history of service in both the military and commercial aviation. As the Director of Pilot Recruiting & Development, Capt. Glenn played a significant role attracting and increasing the number of female pilots and pilots of color flying at American. He’s been a member of OBAP since 1998 and directed or co-directed the organization’s ACE Academies, which provides middle and high school youth with exposure to opportunities in aerospace, for more than a decade.

Krystal McCoy, Director, Airports and Technical Operations Recruitment, brings a wealth of experience in talent acquisition and leadership to the OBAP board. Having developed diverse candidate pipelines for technical groups, including pilots, engineers and aviation maintenance technicians at multiple commercial airlines, McCoy has been instrumental in advancing equity and inclusion across the industry.

“We are thrilled to have Cory and Krystal join the OBAP board,” said Tennesse Garvey, OBAP Board Chair. “Their leadership and expertise will be invaluable as we continue to work toward our mission of providing support, mentorship and opportunities for Black aerospace professionals.”

The appointments of Capt. Glenn and McCoy to OBAP’s board also honors the legacy of Capt. David E. Harris, a founding member of OBAP, who was the first Black commercial airline pilot hired by American in 1964. Harris’ pioneering work paved the way for countless others in the industry, and his legacy continues to inspire and motivate those who follow in his footsteps.

IATA Connect, creating a secure community of aviation safety, security, compliance and operations experts at airlines

The International Air Transport Association (IATA) has launched IATA Connect, creating a secure community of aviation safety, security, compliance and operations experts at airlines, regulatory agencies and auditors. 

With an initial focus on the IATA Operational Safety Audit (IOSA), IATA Connect community members will be able to access and use the platform to securely exchange safety documentation, share information, and collaborate to support further improvements in aviation safety.

In addition to the IOSA Registry, IATA Connect will also house a secure private documentation repository with analytical and benchmarking capabilities. Contents of the document repository include IOSA audit reports, standards and related information, guidance materials, 440 airline profiles, industry alerts and news sources which can be accessed and shared. 

Some 2,300 aviation safety professionals have been invited to join the IATA Connect community covering regulators, IOSA registered airlines and auditors. 

Delta ranked second on Workplace Wellbeing 100

Indeed's Work Wellbeing 100 is an index of public companies that are excelling in work wellbeing and outperforming the market, demonstrating that wellbeing is not just better for people, but better for business. 

Delta recently landed the No. 2 spot on the Indeed Workplace Wellbeing 100. This index is one-of-a-kind, coming from the insights gathered from millions of employees who rated their company experience.  

The index examines how employees rate their overall happiness and satisfaction at work, as well as how meaningful they find their work and how manageable they find their work stress. The Indeed index found that workplace wellbeing correlated strongly with positive market performance. 

“At the heart of Delta’s success is a simple belief: when we take care of our employees, they are empowered to take the best care of our customers and each other,” said Delta Chief Health Officer Henry Ting. “This recognition is a testament to our commitment to fostering a healthy, supportive environment where our people can thrive both personally and professionally." 

This award is another accolade for Delta as America’s most awarded airline, which in 2024 alone has been recognized by J.D. Power as the top-ranked airline for First/Business and Premium Economy Passenger Satisfaction; by Cirium as the most on-time airline in North America and by Fast Company’s Most Innovative Companies list – just to name a few.   

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Virgin Atlantic introduces new Autumn/Winter menu

Virgin Atlantic has introduced new winter menu across all cabins, which is said to be anchored in modern British cuisine, seasonality and comfort. There is plenty of choice for passengers, whether they’re looking to indulge or focus on wellness. 

Delicious dishes and curated wines in Upper Class 

The Upper Class options are packed with premium ingredients, with mains including chicken and mushroom pie with a hint of truffle, pan roasted cod or pumpkin girasoli. Virgin Atlantic’s pre-select service will also give Upper Class customers access to exclusive mains such as roasted duck breast with potato gratin. Brunch is also available on select flights departing the UK and includes choices between smashed avocado with poached egg on sourdough, a red velvet pancake stack with coconut cream, berry compote and white chocolate granola, or a chicken and treacle beer bacon club sandwich.

Virgin Atlantic knows that feeling well rested after a flight can make all the difference, recognizing that relaxation and rejuvenation mean something different to everyone. The airline has introduced a range of feel-good drinks in Upper Class to promote and support rest. First up on the menu is a slow-sipper, Three Spirit Nightcap. Naturally soothing, it can be enjoyed neat over ice or topped with ginger ale. Lo Bros Kombucha Raspberry & Lemon is fresh and contains millions of beneficial live cultures. TRIP Elderflower Mint Mindful Blend combines a unique mix of magnesium, lion’s mane, ashwagandha and L-theanine. Lastly, Perfect Ted Juicy Peach is an immune-boosting blend powered by matcha green tea, for those wanting to feel their best self post-flight.

Virgin Atlantic is also pleased to share its refreshed Upper Class wine selection, with several elegant wines on offer. Whites include a 2022 Grillo Viognier Bio S.Tresa Rina Ianca, followed by a 2023 Diermersdal Cape Town Sauvignon Blanc South Africa. The red options are a 2022 Violet Hill Pinot Noir Oregon USA and 2023 Primitivo di Manduria Corti Salentine DOC Italy, whilst the rosé is a B corp certified and carbon neutral 2023 Aubert et Mathieu, Palooza Rosé Pays d’Oc.

An elevated, Premium dining experience

Premium options include honey and mustard chicken with potato gratin, green beans and peas, Cumberland sausage with parsley mashed potatoes, root vegetables and madeira sauce, or Thai vegetable curry with chilli broccolini and vegetable dumplings. Sweet and savory Mile High Tea options are available in Premium as well as Brunch, with options including buttermilk coated chicken with waffles, hot honey and pumpkin seeds, baked egg with shakshuka and polenta chips. The Uncommon English bubbly rose is also a refreshing new addition. 

Fabulous food in Economy

Those travelling in Economy can choose between sausage and colcannon mashed potato with gravy and braised red cabbage, or tomato and mascarpone pasta with pesto and cheddar. Mile High Tea will be served, with two finger sandwiches and a delightfully warm scone with jam and clotted cream. Also new in October, Economy and Premium customers will be able to enjoy Lucky Saint, a refreshing non-alcoholic beer.

The world of wellness begins in the Clubhouse

Getting the most out of your travel begins on the ground, so Virgin Atlantic’s flagship London Heathrow Clubhouse will now stock essential oil Roller Balls by Aromatherapy Associates. To celebrate the partnership, Aromatherapy Associates therapists will be stationed in the Clubhouse on 3rd October, available to give Virgin Atlantic customers relaxing hand and arm massages using massage oils infused with their bespoke essential oil blends. Customers can choose from two Roller Balls to take away with them; the Deep Relax Roller Ball helps you to unwind and feel relaxed whilst you are on the go, the De-Stress Mind Roller Ball creates calm and focus. Both are small enough to fit into your handbag but powerful enough to clear your mind ahead of your flight. A small card with a QR code will also be available for customers to take away, directing them to guided breathwork exercises to achieve optimum relaxation. 

Lastly, fitness lovers will be thrilled with the latest feature in the London Heathrow Clubhouse. Virgin Atlantic has partnered with Peloton to introduce a Yoga Retreat where customers can enjoy their daily routines, meditate, or work up a sweat using strength and balance equipment. The Yoga Retreat will help customers wind down and relax in advance of their travels. 

Corneel Koster, Chief Customer and Operating Officer commented, “It’s always exciting when we unveil a brand-new menu, in our mouth-watering culinary style. By combining seasonality and comfort with premium ingredients, we’re offering our customers an elevated in-flight dining experience to enjoy and indulge, while also recognizing the importance of relaxation during travel. Feeling well-rested and cared for can make all the difference for our customers, whether it’s a once-in-a-lifetime holiday or a business-as-usual trip.”

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Delta Air Lines and Saudia sign codeshare deal

The U.S. mega-carrier Delta Air Lines and the national flag carrier of Saudi Arabia, Saudia Airlines have agreed and signed a codeshare deal. The arrangement is still subject to U.S. authroity approval, but if they get it,  it will expand the choice of destinations Delta customers can enjoy accross the Arabian Peninsula. 

The airlines already had a interline agreement in place and but this further relationship will enable the two carrier's to start selling codeshare itineraries on each other's flights. It gives greater connectivity between the United States and the Middle East. Delta customers will gain access to nine destinations in Saudi Arabia and the Middle East beyond Saudia’s hubs in Jeddah and Riyadh. Saudia guests will gain access to 12 destinations in the U.S. beyond Delta’s hubs at JFK and LAX airports. 

Delta and Saudia guests will enjoy enhanced travel experiences between the airlines' respective destinations, serving both tourism and business sectors. Delta and Saudia are both members of the SkyTeam alliance. Frequent Flyers will continue to earn and redeem miles on both airlines, while SkyTeam Elite Plus travellers benefit from SkyPriority services. 

Perry Cantarutti, Senior Vice President Alliances, said: “Saudia’s growing Jeddah hub and extensive network bring Delta customers closer to greater access to destinations across one of the world’s most important economic regions. Strengthening our partnership responds to customer demand for more travel choice between the Gulf and North America.”

Arved Von Zur Muehlen, Chief Commercial Officer at Saudia, stated: “Signing this codeshare agreement with Delta Air Lines reflects Saudia's commitment to expanding its flight network, providing seamless travel experiences and enhancing its global connectivity. This provides Saudia’s guests with more travel options, promoting the local tourism sector and allowing international visitors to discover the diversity of the Kingdom's attractions.”

He continued: “This partnership between two legacy airlines fosters greater collaboration between the Kingdom of Saudi Arabia and the United States, opening up new possibilities for commercial and tourism relations. We look forward to furthering our cooperation and exploring additional opportunities with Delta.”

*Subject to U.S. DOT government approval

Jacqui McGillivray appointed as Group Executive Vice-President and Chief People Officer at WestJet

The WestJet Group announced Jacqui McGillivray has been appointed as its Executive Vice-President and Chief People Officer, joining the Group leadership team as of October 7, 2024.

With more than 30 years of demonstrated experience transforming global organizations, McGillivray will replace Angela Avery, who announced her retirement earlier this year. Avery will stay on in an advisory capacity to assist with a smooth transition.

"Jacqui brings a wealth of HR and organizational change experience, along with a notable track record of leading results-oriented, multi-disciplinary, and culturally strong teams in unlocking value and sustaining growth," said Alexis von Hoensbroech, WestJet Group Chief Executive Officer. "We are thrilled to welcome Jacqui at this vital time as we look to build on the momentum of our growth strategy. She will be instrumental in further fostering and developing the people and performance centric culture at WestJet. We are deeply appreciative to Angela, who led WestJet through a pivotal recovery period and has established a strong foundation for us to write the next chapter, we wish her all the best in retirement."

McGillivray is an accomplished executive leader who has served as a trusted advisor to CEOs and Boards. In her most recent role as Executive Vice-President, Chief People and Social Impact Officer at Element Fleet Management, McGillivray was instrumental in the transformation that took the organization to top quartile employee engagement and client retention, while developing a performance culture that placed the company in the top five per cent of companies within the TSX Composite index.

McGillivray's prior roles include, Executive Vice-President, Safety and Organization Effectiveness at Cenovus Energy, Head of Global Human Resources at Talisman Energy, and Vice-President, HR, Brand & Marketing for the Global Wealth Management division of RBC Royal Bank.

"As a Calgary resident for the past 14 years, I have been closely following WestJet's journey and recent strategic shift; I am incredibly impressed by the discipline and resolve of the leadership team to solidify WestJet's longstanding reputation as the home carrier of the West and the leading Canadian value and leisure airline, in service of affordable air travel for Canadians," said Jacqui McGillivray. "I am thrilled to join this Canadian aviation success story and to play a part in a bright and sustainable future for our guests, our people and the communities we serve."

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AerCap signs lease deal with Azerbaijan Airlines for six new Airbus A320NEO family aircraft

AerCap has confirmed it has signed lease agreements with Azerbaijan Airlines for six new Airbus CFM LEAP powered aircraft, including three A320neos and three A321neos which are scheduled to deliver in 2026.

The lease agreements were signed by Samir Rzayev, President of Azerbaijan Airlines CJSC, and Peter Anderson, Chief Commercial Officer of AerCap.

"AerCap is delighted to welcome AZAL as a new customer and support them with their ongoing fleet and network expansion," said Peter Anderson, the Chief Commercial Officer of AerCap. "The A320neo and A321neo are among the most desirable and in-demand aircraft in the world and will not only enable AZAL to serve more customers across more destinations but will also support their commitment to modernizing their fleet with the most technologically advanced fuel-efficient aircraft on the market. We wish the AZAL team every success with their expansion plans and look forward to a long and successful partnership."

"The signing of these six leases significantly expands our fleet replacement, in particular with the popular A321neo. These aircraft are intended to meet the evolving needs of our passengers, providing them with maximum comfort and convenience, while also contributing to the expansion of our airline's route network. We aim to create better travel opportunities and meet customer expectations by opening new destinations and improving service quality. In addition, the document signed with a major company like AerCap further demonstrates AZAL's strong credibility in the international aviation market," said Samir Rzayev, AZAL President.

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SWISS and Helvetic Airways extend their partnership

SWISS and Helvetic Airways are to extend and deepen their long-standing partnership for a further five years. Helvetic Airways will operate up to 15 aircraft throughout the SWISS European network on SWISS’s behalf under the continued wet-lease agreement.

Swiss International Air Lines (SWISS) and Helvetic Airways are to extend their long-standing partnership for a further five years. Under the wet-lease agreement between the two airlines, Swiss regional carrier Helvetic operates up to 15 advanced and carbon-efficient Embraer E190-E2 and E195-E2 aircraft and their predecessor E190s and E195s on the SWISS European route network on SWISS’s behalf. All these aircraft are leased-in together with their crews.

“Helvetic Airways fully and consistently meets all our high safety standards and all our premium aspirations, and is well liked by our customers” explains SWISS Chief Commercial Officer Heike Birlenbach. “I’m delighted that we can now extend our successful partnership. Our collaboration not only enables us to cover our operating peaks: with Helvetic’s smaller aircraft, we can also serve destinations for which our own SWISS aircraft would be too big.”

Cebu Pacific orders 70 Airbus jets

Cebu Pacific of the Philippines has placed a firm order with Airbus for 70 A321neo, finalising an MoU announced by the airline in July. The purchase agreement was signed in Manila by Mike Szucs, CEO of Cebu Pacific and Benoît de Saint-Exupéry, EVP Sales of the Commercial Aircraft business at Airbus.

Mike Szucs said: “The selection of Airbus A321neo underscores our focus on operational efficiency, sustainability, and innovation, ensuring that we continue to deliver the highest standards of service while significantly reducing our carbon footprint. This milestone signals our ongoing dedication to expanding air travel accessibility and affordability while supporting the Philippine’s broader economic growth and connectivity goals.”

Benoît de Saint-Exupéry said: “The A320 Family has supported Cebu Pacific’s domestic and short-haul international network growth over the last two decades. We’re grateful to the airline for its continued endorsement of our best selling single-aisle product line. The A321neo is highly regarded for its unparalleled economics, performance and fuel efficiency. We’re confident that these additional A321neo aircraft will contribute strongly to the all-Airbus operator’s next phase of expansion as one of Asia-Pacific’s leading low cost carriers.”

ICEYE announces new Dwell Precise imaging mode providing 25 cm resolution

ICEYE, the global leader in SAR satellite operations for Earth Observation and persistent monitoring, today introduced Dwell Precise, a new imaging mode that adds advanced capability to ICEYE’s line of Dwell products and builds on the release of Dwell Fine in March 2024. Dwell Precise provides a 25-centimeter resolution and is based on the 1200 MHz radar bandwidth announced earlier this year. 1200 MHz is currently the maximum that commercial satellites are allowed to use.

 

ICEYE’s Dwell Precise uniqueness comes from the combination of high-quality data with high resolution, and it will make a difference when identification of smaller objects or targets is required, e.g. types of vehicles and types of military equipment, without the need for additional intelligence sources. As a SAR satellite orbits the Earth its radar signals focus on a specific area of the planet’s surface to create an image based on return data. Like other modes in the Dwell product line, Dwell Precise data are taken from a much more comprehensive range of angles, allowing it to spot objects through tree cover and foliage.

ICEYE owns and operates the world’s largest constellation of SAR satellites. It first introduced Dwell mode in May 2023, and with the introduction of Dwell Fine in March 2024 and today’s launch of Dwell Precise, ICEYE further underlines its commitment to constant innovation in serving private and public sector organizations globally with the most advanced commercial Earth Observation capabilities and SAR satellite data.

John Cartwright, ICEYE’s SVP and Head of Data Product, said “Dwell Precise will be the industry’s highest fidelity 25 cm product. Dwell Precise represents the culmination of the industry’s best imaging capabilities and adds significant depth to our line of Dwell products. The increased resolution will allow ICEYE’s customers to identify objects and features on the earth’s surface with far greater clarity than was available previously, all while benefiting from the day/night all weather imaging capabilities of SAR.”

“The launch of Dwell Precise highlights ICEYE’s commitment to meeting the evolving mission sets of our customers through constant innovation and identification of ways to improve our products and services,” said Eric Jensen, CEO of ICEYE US.

Agreement on principles for use of aircraft operational data

The International Air Transport Association (IATA) and Airbus, Embraer and Rolls-Royce have established five key principles for access to, and the use of, Aircraft Operational Data (AOD). 

These are:

1.    Consent: AOD can only be extracted with the airline’s written consent.

2.    Transparency: Airlines have visibility of the data generated by their aircraft and how it is used.

3.    Sharing: Airlines can choose the parties they share AOD with and control such sharing.

4.    Accessibility: Airlines can access, analyse, and use AOD from aircraft they operate without interference. 

5.    Responsible Use: Airlines provide AOD to Original Equipment Manufacturers (OEMs) to improve safety and, if they choose, to support aircraft reliability.

The principles apply to AOD generated by aircraft once delivered to the airline/operator, whether in flight or on the ground, and are subject to regulations and to contractual agreements between parties. The agreement follows productive and collaborative discussions between IATA (on behalf of the airline/operator community) and leading aircraft and engine manufacturers. Clarity on definition and use of AOD is important given AOD’s critical role in driving innovations in safety, maintenance, and operational efficiencies. 

“These principles bring transparency to how AOD is used. Establishing that airlines are in control of the data generated by the aircraft they operate sets an important best practice in an area where a common understanding was needed. With this agreement, airlines, manufacturers and other interested parties will be able to more efficiently utilize AOD to operate and manage aircraft safely, efficiently and more sustainably. We look forward to other OEMs joining the early adopters in endorsing these commitments," said Willie Walsh, IATA’s Director General.

The AOD Statement document with the agreed principles is available. IATA and OEMs will continually improve these guidelines to keep pace with technological advancements and industry needs.

statement_of_principles_and_best_practices_regarding_aircraft_operational_data.pdf (iata.org)

airBaltic is embarking on its initial public offering - IPO

airBaltic, Latvia's national and government-owned airline and the leading carrier in the Baltics, Over the past thirty years, airBaltic has grown from a small airline with just a few propeller planes into the leading regional carrier, with almost 50 modern Airbus A220-300 aircraft, operating from five bases across the Baltic states, Tampere, and Gran Canaria. The airline has direct flights to more than 130 destinations, covering Europe’s major cities and more than 300 destinations via codeshare partners.  

The lime-green tails of airBaltic aircraft are now recognisable across Europe, a source of pride for many Baltic people and is often described as symbolistic of Latvian independence. The airline plays a crucial role in connecting the Baltic States with the rest of Europe and the world. And now the carrier is just about to embark on its Initial Public Offering (IPO) - maybe....

The airline has revealed that it is considering an IPO as well as evaluating opportunities to attract new investors to support the next chapter in its growth strategy for years to come.  airBaltic advises that a fixed timeframe cannot be provided at this stage and further details will be provided in due course, as they are finalized. 

From the carrier, "all details regarding the possible airBaltic IPO will be made available once they are finalised. If you are interested in learning about how to invest in the stock market please check out NASDAQ Riga’s informative website with step-by-step guidance on how to select a broker, open an account, and invest - https://nasdaqbaltic.com/get-started/start-investing/ "

On 30 August 2024, the Cabinet of Ministers of the Republic of Latvia decided on matters concerning preparations for airBaltic's IPO. In the course of this process, airBaltic will simplify its existing share structure to make it more attractive to investors.

"To help facilitate a successful potential IPO, the airline consolidated four existing share classes into one. This is a common international practice to make the share structure even more transparent and attractive to the market. Furthermore, the consolidation of share capital will improve the capital structure of the company itself. The consolidation of shares also reduces their nominal value. The purpose of these actions is to strengthen the airline’s equity by reducing share capital and using it to offset accumulated losses from previous years. This step does not change the value of the airline or the value of the state’s shareholding. These steps will help simplify airBaltic's existing share structure and make it more attractive to investors.

The company is currently working with its shareholder on the potential IPO timeline and other preparatory activities, such as improvement of Corporate Governance to match the requirements for a listed company and updating Internal Policies.

airBaltic has also launched this dedicated web resource to serve as a verified and accurate source of information relating to airBaltic’s growth ambitions, potential IPO and general corporate development plans."

Keep up to date with this developing offering.

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Airbus Ventures invests in Impulse Space’s $150M Series B Funding Round

The round is the latest in a series of recent milestones that include Impulse’s selection for STRATFI and SBIR awards by SpaceWERX, the unveiling of a new GEO Rideshare Program, and the successful completion of the LEO Express-1 mission.

Airbus Ventures has announced its follow-on investment in Impulse Space, a leader in the development of in-space transportation services, which has just raised a $150 million Series B funding round. The funding, which follows a series of recent milestone moments for the company, will be used to further grow the Impulse team and to support the ongoing production of both their Helios and Mira vehicles. The Series B round brings Impulse’s total funding to date to $225 million.

“This funding is not only a testament to our team's achievements over the past year but also a validation of our vision for the in-space transportation industry,” said Tom Mueller, founder and CEO of Impulse Space. “We’re proud to have so many partners who understand and support the importance of our work to accelerate humanity’s future in space by unlocking reliable, affordable, and efficient access to any orbit.”

The Series B funding adds further momentum to Impulse’s continuing advances. This year alone, the company has been selected by SpaceWERX for a Strategic Funding Increase (STRATFI) award, two Small Business Innovation Research Program (SBIR) awards, announced a new GEO Rideshare Program, and completed their record-setting LEO Express-1 mission. The team is currently preparing for the upcoming launch of the LEO Express-2 mission, which will see a Mira vehicle support deployment and hosting services for multiple customers.