Airborne 03.08.23: All-Electric eDA40, Yellow Ribbon Honors, Turbulence Fatality
Also: 2023 Sun ‘N Fun Pilot Guidance, Pilatus Update, Illegal Tech Sale, Navy Drops Males From Super Bowl
Diamond Aircraft and Lufthansa Aviation Training (LAT) have signed a Letter of Intent (LOI) expressing the two entities’ intention to jointly explore and develop means by which flight-training may be undertaken more sustainably. Among the most emotional and poignant traditions of the Experimental Aircraft Association’s (EAA) annual AirVenture fly-in will again be observed in 2023. One-hundred Vietnam War veterans will be honored on 28 July with a Yellow Ribbon Honor Flight by which t
Boutique FBO Chain Expanding to Plan
On 02 March 2023, Odyssey Aviation U.S. announced it had acquired Golden Isles Aviation, a Fixed Base Operator (FBO) serving Georgia’s McKinnon St. Simons Island Airport (SSI). Private investment firms Granite Creek Capital Partners LLC and Everside Capital, provided financing for the undertaking. Golden Isles is a full-service FBO providing aviation fuel, hangar rental, ramp space, and additional services to general aviation customers at the McKinnon St. Simons Island Airport (SSI) on St. Simons Island, GA, a resort destination on Georgia’s Atlantic coast.
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Things Looking Upbeat for British Launch Specialist
Virgin Galactic announced its financial results for its 4th quarter last year, showing a "strong" cash position of $980 million despite a net loss of $151 million. The news was no surprise, as many commercial launch providers are in similar financial positions - space launch is a nascent market, and the industry is still working out exactly how to maintain healthy profitability. Throughout the year of 2022, Virgin saw a net loss of $500 million, up from $353 million the year before. GAAP selling, general, and admin expenses similarly increased, hitting $175 million from $167M the year before. The overall adjusted EBITDA totaled $431M, compared to $245M in 2021.
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