Russian insurance payout helps AerCap report record profit
August 01, 2025
A $1 billion payout from insurers in relation to a claim submitted by the lessor for losses on aircraft leased to Russian carriers helped AerCap record what it describes as a "record" net income in the second quarter and first half of 2025. The Dublin-based lessor grew its net income to $1.26 billion in the second quarter of 2025 ended 30 June from $448 million the year before. This was despite total revenue "and other income" falling to $1.87 billion in the second quarter from $1.96 billion in 2024's second quarter. In 2024's second quarter, total lease revenue ticked up from $1.75 billion to $1.77 billion, but overall revenue was down because net gain on sale of assets fell by more than half to $57.1 million and "other income" fell from $81.1 million to $62 million. Total expenses fell from $1.45 billion in 2024's second quarter to $485 million in 2025's second quarter, mainly due to a positive $973 million added as a result "net recoveries related to Ukraine conflict". AerCap chief executive Aengus Kelly notes his company generated record net income in the half, "driven by strong operating results and the favourable June court judgment in our insurance case". AerCap states it was awarded an approximately $1 billion insurance payment by the London Commercial Court for aircraft and engines lost in Russia. For the six months ended 30 June, AerCap nearly doubled its net income to $1.9 billion. Total revenue fell slightly to $3.96 billion, while total expenses fell to $1.84 billion from $2.82 billion. In 2024's first half, $22.7 million was recorded as net recoveries related to the Ukraine conflict. As of 30 June, AerCap had cash, cash equivalents and restricted cash of $2.85 billion, up from $1.4 billion at year-end 2024. AerCap’s portfolio consisted of 3,508 aircraft, engines and helicopters that were owned, on order or managed, as of 30 June 2025. The average age of the company's owned aircraft fleet as of that date was 7.6 years (5.1 years for new technology aircraft, 15.4 years for current technology aircraft) and the average remaining contracted lease term was 7.2 years. In July 2025, AerCap's board declared a quarterly cash dividend of $0.27 per share, with a payment date of 4 September, to shareholders of record of AerCap ordinary shares as of the close of business on 13 August.
AirAsia X to start Tashkent route in October
August 01, 2025
AirAsia X will start a thrice-weekly service from Kuala Lumpur to Tashkent from 15 October. Data shows that the airline will operate Airbus A330-300s on the route, and it will be the third operator after Batik Air Malaysia and Uzbekistan Airways. "Our mission has always been to make medium-haul travel more accessible and affordable, and we are excited to extend this offering to travelers from Uzbekistan with our entry into Tashkent. The strong performance of our Almaty route has reaffirmed the potential of Central Asia, prompting us to grow further in the region," comments AirAsia X chief executive Benyamin Ismail. AirAsia X started flights to Almaty in March 2024 and currently operates five weekly services there. The carrier has 18 A330-300s in service and one in storage.
Boeing chief confirms delay of Max 7 and 10 certification to 2026
July 31, 2025
Certification by the US Federal Aviation Administration of the Max 7 and 10 variants of Boeing's 737 programme will likely be achieved in 2026 and not this year as previously expected, Boeing chief executive Kelly Ortberg has indicated. The US airframer has been working on finalising the anti-icing design for the engine inlet on the two variants. Ortberg on 29 May during the Bernstein Strategic Decisions Conference had said that the Max 7 and 10 were "slated to complete the certification this year". Ortberg disclosed on 29 July during an earnings call that work on the anti-icing solution is taking longer than expected. "We now are expecting certification in 2026," Ortberg says. "We don't expect a material impact to our production plans, and we're prepared to build other 737 models for our customers." "We just haven't closed the design," he adds. "We went through some testing, and this is a very delicate area that we're dealing with around the inlet of the engines, and [we] can't cause any perturbation to the airflow into the engines. "We found some issues with the design implementation we had, so we're going to have to back up and make some additional design changes to get through that de-icing requirement. Basically, the engineering design did not yield it in the time frame that we were anticipating, and so we still have work to do." Ortberg's confirmation of the certification delay follows Southwest Airlines chief executive Bob Jordan's disclosure during a 24 July earnings call that he expected the Max 7 to be certificated by the FAA "maybe first half of 2026, which would put entry into service for us, at earliest, late in '26". Southwest has by far the most Max 7s on order, with 305 expected, followed by Allegiant Air, with 24 on order, fleets data shows. Eleven additional Max 7s are on order, four of which are to be delivered to Luxair, with the remaining customers unannounced. United Airlines has the most Max 10s on order, with 167 expected, followed by Ryanair (150), American Airlines (112), and Delta Air Lines and Pegasus (100 apiece).