Australian bank Macquarie has acquired a further 50% equity stake in London City airport, taking its total ownership to 75%. Macquarie says it acquired the shares previously held by Canadian pension funds Alberta Investment Management Corporation and OMERS, each of which owned a 25% stake. This follows Macquarie’s earlier purchase of a 25% stake from Ontario Teachers’ Pension Plan in June. The transaction, which was completed at signing, is part of Macquarie’s broader strategy to expand its UK aviation portfolio. Alongside London City, Macquarie recently acquired a 55% stake in Bristol airport and a 26.5% stake in Birmingham airport, with those deals expected to close by the end of this month. London City airport handles more than 50,000 flights annually to over 30 destinations across the UK and Europe. The UK Government has approved plans to increase passenger capacity from 6.5 million to 9 million, positioning the airport for significant growth. To support this, London City has applied to the Civil Aviation Authority for approval to operate Airbus A320-family aircraft, enabling airlines to introduce next-generation models and expand leisure routes. "This further investment from Macquarie is a strong endorsement of our strategy to introduce larger, quieter and cleaner aircraft, deliver more route choices, and contribute even more to the UK economy," says Alison FitzGerald, chief executive of London City. Macquarie has been an investor in airports for over 20 years, with previous stakes in hubs across Europe, Australia, and Latin America. In the UK, it recently exited AGS Airports – the operator of Aberdeen, Glasgow and Southampton – after a decade of ownership. Sara Sulaiman, managing director at Macquarie’s EMEA division, said the investment in London City would be part of a drive to support future growth, new routes, and enhance passenger experience.

Cirium Ascend Consultancy has predicted that 46,500 aircraft will be delivered globally over the next 20 years, equating to a total value of $3.4 trillion, as airlines continue to invest in newer, more sustainable equipment. However, the newly published fleet forecast also reflects the aviation industry's continuing supply-chain issues, geopolitical uncertainty, and delays to certification of new programmes, which are tempering the pace of fleet growth. The consultancy's analysis projects a 6% reduction in deliveries over the next seven years compared with last year's edition, mainly as a result of a slower-than-expected ramp-up in single-aisle aircraft production. Long-term demand remains strong, with a 1% increase in deliveries overall. Asia continues to drive fleet growth, accounting for 45% of deliveries, led by demand in China and India, notes the consultancy. It projects that Airbus and Boeing will deliver 85% of aircraft and 92% by value through 2044, while Comac captures 6% of global demand. Single-aisle aircraft now account for 71% of the global fleet, while twin-aisle and regional jets remain below pre-pandemic levels, the analysis adds. "This year's Cirium Fleet Forecast shows the global aviation industry is moving forward with confidence despite near-term headwinds," states Stephen Burnside, global head of Cirium Ascend Consultancy. "Long-term demand remains robust across every region, airlines continue to invest in fleet renewal, and OEMs continue to incrementally increase their R&D budgets in preparation for the next generation of aircraft families. "The next chapter of aviation growth is being defined by the need for supply-chain resilience, production capacity right-sizing, product and service innovation, and a focus on efficiency."

Finnair has temporarily grounded eight of its Airbus A321s, forcing the airline to cancel around 20 flights per day as it conducts additional safety inspections on the jets. The carrier says the suspension was prompted by information from an unnamed seat manufacturer indicating that the impact of its seat cover cleaning method – specifically water washing – on fire protection had not been fully verified. "Safety is always our top priority, and we always follow manufacturers’ maintenance instructions as well as the guidelines and recommendations of the authorities," Finnair states. Flight cancellations began on 13 October and have continued through 14 October as the airline works to minimise disruption for passengers. The airline did not specify how long the inspections will take or when the affected aircraft will return to service. Finnair has already been hit by a wave of cancellations this year stemming from industrial action by staff. This led to sharply lower profits for the second quarter, having axed 1,300 services in the period because of strikes by pilots in April and ground staff in May and June. Collective labour agreements signed with unions have since sharply reduced cancellations.