Category: Commercial

ITP Aero FY2025 Financial Results

ITP Aero Reports 2025 Revenues of €1.88 bn, up 17%, and EBITDA of €379 million, up 28%

· Strong financial performance in 2025, with revenues of €1.88bn (+17%), EBITDA of €379m (+28%) and EBIT of €321m (+30%), reflecting robust growth across commercial aviation, defence and MRO

· Performance enabled by our people, and continued strength from a diversified portfolio

· Results that fund reinvestment, with €117m invested in R&D and sustained Capex to strengthen industrial capabilities, technology and sustainability

· Clear focus on the future, growing the workforce to more than 6,250 employees (+10%), reinforcing core capabilities and positioning ITP Aero for next-generation aerospace platforms

Zamudio (Spain) — ITP Aero, a global leader in aerospace propulsion, delivered another strong year in 2025, combining robust financial performance with sustained investment in its people, industrial capabilities and long-term technology roadmap. This performance reflects the commitment and expertise of ITP Aero’s teams and provides a solid foundation to continue strengthening the company’s footprint across its global operations.

In 2025, ITP Aero reported revenues of €1.88 billion, representing a 17% increase compared to 2024, and achieved an EBITDA of €379 million (+28%) and an EBIT of €321 million (+30%) year-on-year*. The company delivered another year of robust growth, driven by the strong performance of its commercial aviation, defence and MRO businesses.

This growth was supported by sustained demand for products powering today’s most advanced commercial aviation platforms, continued expansion in MRO activities, and solid performance in defence programmes. Commercial aviation remained the main growth driver for ITP Aero in 2025, with global Revenue Passenger Kilometres growing by 5.3%; the company is well positioned to benefit from the long-term expansion of the sector while maintaining a diversified business mix.

Eva Azoulay, CEO of ITP Aero Group, said: “2025 has been another exceptional year for ITP Aero. This strong performance is first and foremost the result of our people’s commitment and expertise. It is also what allows us to continue investing decisively in our capabilities, our industrial footprint and our future technologies, while positioning ITP Aero to play a leading role in the aerospace platforms of tomorrow. In this way, we expect sustained investment with 600M€ in Capex and 600M€ in R&D by 2030”.

Performance that enables reinvestment

In line with its long term strategy, ITP Aero continued to reinvest decisively in 2025. The company spent €117 million in R&D, reinforcing its commitment to innovation and the development of future propulsion technologies, advanced manufacturing processes and sustainability driven solutions. In addition, during 2025 the company invested total capex of 101M€ across the Group. These investments underpin ITP Aero’s ambition to remain a key partner on current and next generation aerospace platforms while strengthening high value industrial and engineering capabilities.

To support its growth and future programmes, ITP Aero also continued expanding its global workforce. By the end of 2025, the company reached more than 6,250 employees worldwide, representing a 10% increase compared to the previous year, with more than 450 new jobs created in Spain. This growth reflects the company’s focus on developing critical skills, reinforcing its industrial footprint and preparing its teams to support increasing customer demand over the coming years.

Strategic progress across commercial, defence and MRO

During 2025, ITP Aero further consolidated its position as a leading independent aerospace propulsion company. A major milestone was achieved in its long-standing partnership with Rolls-Royce with the delivery of the 10,000th Low Pressure Turbine (LPT) module. In the year alone, ITP Aero delivered 300 LPT modules, supporting the world’s most advanced widebody platforms.

The company also reached an important milestone with the delivery of its first combustor for Pratt & Whitney PW1500G and PW1900G engines. Building on decades of experience in combustor technology across widebody, business aviation and defence platforms, this achievement marks the extension of ITP Aero’s capabilities to support the current generation of narrowbody engines.

MRO continued to be a strategic pillar of growth in 2025. ITP Aero entered Pratt & Whitney’s global network of GTF engine maintenance providers, with its Ajalvir facilities in Madrid set to maintain PW1500G and PW1900G engines, supporting Airbus A220 and Embraer E-Jets E2 families, with first engine inductions planned for 2027. As part of its expansion strategy, ITP Aero also completed the acquisition of Aero Norway in February 2026, strengthening its position in the global aerospace aftermarket and expanding its MRO capabilities in Europe.

In defence, ITP Aero continued to play a key role across all European defence engine consortia. Eurofighter showed strong performance in 2025, with 160 EJ200 engines ordered during the year. The company also progressed in the development of advanced propulsion technologies as leader of the engine pillar in Spain for the FCAS programme.

Commitment to sustainability and long-term value creation

Sustainability remained a core focus for ITP Aero in 2025. For the second consecutive year, the company was awarded the EcoVadis Platinum Medal, placing ITP Aero among the top 1% of companies globally assessed for sustainability performance.

MTU Maintenance Signs MRO Contract for Cheniere’s Sabine Pass IGTs

MTU Maintenance Berlin-Brandenburg GmbH has signed a three-year contract with Cheniere Energy, Inc. (Cheniere) for the maintenance, repair and overhaul (MRO) of the energy company’s fleet of LM2500 industrial gas turbines (IGT) powering its Sabine Pass liquefied natural gas facility in Louisiana, USA. 

The agreement provides U.S.-based Cheniere with comprehensive MRO services at MTU Maintenance Berlin-Brandenburg in Ludwigsfelde, Germany, which specializes in the maintenance of LM-series IGTs under the MTU Power brand. Patrick Biebel, the location’s managing director, says that the contract supports MTU Power’s goal of growing its shop-visit volume by 30 percent over the coming years. In March 2025, the company announced the construction of a brand-new IGT maintenance facility at its site to accommodate the overall growth targets.

“The LNG industry, particularly in the United States, is a growing market and thanks to our on-going efforts to expand capacities, MTU is perfectly positioned to offer the regional energy producers all the necessary, and fully customized, MRO solutions to keep their gas turbines running,” Biebel says.

Cheniere, headquartered in Houston, Texas, first tasked MTU with MRO work in 2024. The company is the largest LNG producer in the United States, with a combined liquefaction capacity of over 50 million tonnes per annum (mtpa) that is expected to grow to over 60 mtpa by the end of 2028. Cheniere has two major liquefaction facilities in the U.S. Gulf Coast region, one in Cameron, Louisiana, and another near Corpus Christi, Texas. 

“Reliability and operational excellence are at the core of Cheniere’s business, and we welcome the opportunity to extend our working relationship with MTU and its engine experts at our Sabine Pass facility,” says Maas Hinz, Cheniere’s senior vice president of operations. 

In addition to GE Aerospace’s LM2500, MTU Maintenance performs MRO work on the LM6000 engine model. Parent company MTU Aero Engines AG also manufactures brush seals and custom engine components under the MTU Power brand.

LS Technics Becomes First MRO Organization in Poland with Approvals for the A220

In February, LS Technics expanded its Part-145 certificate to include another aircraft type. The company was the first in Poland to obtain approvals covering such a wide range of services for this family of aircraft, strengthening its position as a pioneer and expert in the maintenance of French manufacturer Airbus.

Under the document approved by the Civil Aviation Authority, the scope of certification has been extended to include two key items:

· approval for line maintenance of the BD-500 (Airbus A220) aircraft with PW1500G engines,

· approval for maintenance of PW1500G and PW1900G engines.

This means that LS Technics is the first MRO base in Poland with approvals covering line maintenance of the Airbus A220 aircraft and its dedicated engines. The extension of the certificate confirms the company’s high technical competence, experience, and operational readiness to service the latest generation of aircraft.

The approvals we have obtained strengthen our position as a key partner for carriers operating Airbus fleets and confirm the company’s role as a leader and pioneer in the Polish maintenance sector — comments Dariusz Maruszczyk, member of the management board for finance and economics at LS Technics.

For years, LS Technics has been consistently building its market position, supported by its knowledge, qualified personnel and technological facilities in the field of Airbus aircraft maintenance. The extension of Part-145 approvals with additional approvals for this type of maintenance is another step in the implementation of the MRO competence development strategy and a response to the growing needs of the aviation market in the region.

AAR Appoints Dylan Wolin as Chief Financial Officer

AAR CORP. announced that its board of directors has appointed Dylan Wolin as the company’s chief financial officer, effective February 23, 2026. Wolin’s responsibilities will include finance, accounting, tax, treasury, investor relations, and corporate development. 

Wolin will rejoin AAR from Federal Signal Corporation, where he served as president of Elgin, Trackless, and Vactor, the company’s primarily municipal-focused specialty vehicle businesses, from 2024 to 2026. 

From 2017 to 2024, Wolin led AAR’s strategic and corporate development, treasury and investor relations functions. He helped lead the company’s portfolio repositioning, capital markets activities, and strategic planning, including the acquisitions of Trax and Triumph Product Support. 

Before joining AAR and Federal Signal, Wolin was a director in Boeing’s corporate development group, where he was responsible for merger, acquisition, and joint venture transactions. Prior to Boeing, he served as a vice president in Deutsche Bank’s Global Industrials Group within its investment banking division. Earlier in his career, Wolin was an associate at McManus & Miles, a boutique investment bank specializing in financial advisory and private placements.

Wolin earned a Bachelor of Arts in economics from Tufts University and a Master of Business Administration in finance from the Wharton School of the University of Pennsylvania.

“I worked very closely with Dylan during his seven years at AAR. He was instrumental in developing the strategy we are executing today. I am thrilled he is rejoining our senior leadership team, bringing valuable additional operational and strategic experience,” said John M. Holmes, AAR’s chairman, president and CEO. “I would also like to thank Sarah Flanagan for her service as our Interim CFO. Sarah is a deeply valued member of our team, and I am looking forward to her continued leadership in our finance organization.”

“AAR’s strong team, unique customer value proposition, and exciting additional growth opportunities underscore the Company’s compelling future,” said Wolin. “I am eager to partner with John and the rest of the AAR team to drive continued execution of AAR’s growth strategy.”

Sarah Flanagan, the company’s interim chief financial officer, will return to her previous role as vice president, financial operations, effective February 23, 2026.   

AAR Hosts Collaborative Workforce Development discussion, Shares Insights with U.S. Deputy Secretary of Labor

AAR CORP. recently hosted United States Deputy Secretary of Labor Keith Sonderling and various stakeholders at AAR’s Airframe MRO – Miami facility for a roundtable discussion to further develop the national workforce through apprenticeships.

During the visit, Deputy Secretary Sonderling toured AAR’s Airframe MRO facility in Miami and met with apprentices, learning about their background, experience, and aspirations, as well as AAR’s operations. AAR, along with other MROs, airlines, education entities, and nonprofits shared collaborative approaches to creating apprenticeship opportunities and modernizing workforce development programs. 

“Getting first-hand knowledge of AAR’s program, meeting with staff, and talking with apprentices about their work in the aerospace industry was inspiring and insightful,” said Deputy Labor Secretary Keith Sonderling. “The demand for highly-trained technicians is surging, and ensuring that we have a deep bench of skilled labor is crucial to American aviation dominance and safety. Private-sector apprenticeship programs are key partners in accomplishing the Administration’s goal of achieving one million active apprentices.” 

The roundtable discussion was planned to advance a 2025 executive order to “unlock the limitless potential of the American worker” through apprenticeships that lead to opportunities for high-paying, skilled trade jobs.

Across the Company’s network, AAR presently has 70 team members enrolled in its apprenticeship program that is approved by the U.S. Department of Labor. This is part of AAR’s EAGLE Career Pathway program that focuses on creating a talent pipeline for the aviation industry.

“AAR leadership has been in conversations with the U.S. Department of Labor to highlight opportunities to meet ongoing labor demands in the aviation industry through additional apprenticeship programs, like that of AAR. Our highly successful approach to building a workforce pipeline helps meet the talent needs across our global network and supports the broader industry,” said Ryan Goertzen, AAR’s Vice President of Workforce Development. “Today’s conversation is a great next step toward strengthening available apprenticeships across the country.” 

Hi Fly Launches “Grow with Purpose at Hi Fly” Campaign with Sustainable Initiative at Job Fairs

Hi Fly has launched a new employer branding initiative, Grow with Purpose at Hi Fly, reinforcing the company’s commitment to combining professional development with environmental responsibility.

As part of the campaign, Hi Fly is distributing sunflower seeds at job fairs instead of traditional plastic promotional items or disposable giveaways. Presented in reusable cloth pouches, the seeds reflect the airline’s decision to move away from single-use materials and toward more sustainable engagement.

The campaign is built around a clear message:“Grow your career. Grow a better future.”

Aviation has an environmental impact. Hi Fly openly acknowledges this reality and continues to focus on reducing its footprint through operational efficiency, innovation and responsible decision-making across its activities.

The sunflower was chosen as a symbol of growth, energy and resilience — values that mirror both the company’s sustainability journey and its approach to talent development.

When planted, sunflowers naturally absorb CO₂ during their growth cycle. Hi Fly emphasises that this initiative does not constitute a carbon offset mechanism and does not compensate for aviation emissions. Instead, it is a symbolic and educational action designed to promote environmental awareness and encourage responsible choices.

Hi Fly’s environmental initiatives are internationally recognised. In 2018, the airline operated the world’s first single-use plastic-free flight, replacing disposable plastic items with sustainable alternatives across its entire onboard service. This milestone demonstrated Hi Fly’s ability to translate environmental ambition into operational execution — a philosophy that continues to guide its sustainability strategy today.

The sunflower initiative extends that commitment beyond operations, embedding sustainability into corporate culture and recruitment practices.

Through Grow with Purpose at Hi Fly, the airline seeks to attract professionals who value accountability, transparency and long-term impact alongside career progression.

The campaign underscores the belief that responsible aviation is not defined solely by fleet strategy or fuel efficiency. It is also reflected in everyday decisions, including how the company engages with future talent.

By aligning professional growth with environmental responsibility, Hi Fly continues to position itself as an airline committed to balancing goals with accountability.

Platinum Tooling Announces New Manufacturers’ Representative Group

Platinum Tooling, an importer and master distributor of live tools, angle heads, Swiss machine products, knurling tools and marking tools manufactured by various international suppliers has a new sales representative firm. Located in Conway, South Carolina, Sellers Marketing offers high quality cutting tools, work holding and tool holding solutions in the Southeastern United States. 

Founded in 2014 as a technical firm with engineers from job shops, the addition of Application Sales Engineers has been key to its success. These team members include David Sellers (key accounts and Georgia), John Huggins (Western North Carolina and Tennessee), Justin Sellers (Maryland, Virginia and West Virginia), Lee Sellers (Northeastern Georgia, Eastern North Carolina and Eastern South Carolina) and John Paquette (Alabama). 

David Sellers said that the company serves all industries in the Southeast, “as we consider the region a ‘mixed bag’ of all industries, predominantly featuring job shops and privately owned production shops.” 

Regarding its working relationships, Sellers highlighted that, “Our team engages all sectors of the channel. We work from OEMs down and from end users up.” 

Lastly, Sellers expressed his excitement at working with Platinum Tooling, stating, “Platinum Tooling brings to our firm tooling that we did not have with our other product offering. Additionally, the diverse offering at Platinum allows my engineers to feel confident that they have an added solution to success.” 

Alton Aviation Consultancy Reports Another Year of Record Growth in 2025

Alton Aviation Consultancy, an aviation advisory firm, reports another solid year of growth in 2025 as demand for premium aviation advisory services remains strong.

Continued growth in Alton’s advisory work increased across virtually all segments of the aviation value chain to include aircraft leasing and financing advisory, airline due diligence, restructuring, and fleet campaigns, and maintenance, repair, and overhaul (MRO) advisory, in addition to supporting airports and business and general aviation (BGA) sectors. Across all sectors, merger and acquisition (M&A) transaction advisory activity remained robust.

In 2025, the firm successfully completed more than 200 engagements for over 100 organizations, with approximately two-thirds coming from repeat clients. This further underscores the value delivered through Alton’s deep domain expertise, and the firm’s high degree of client responsiveness and commitment to excellence.

Alton extended its global footprint with the addition of its London office, strengthening its ability to support clients in the UK and Europe with regional insight across major aviation markets. The new entity builds on Alton’s established global platform which includes New York, Dublin, Dubai, Hong Kong, Beijing, Singapore, and Tokyo. The firm also had a strong year for talent development, with 16 employee promotions across its global team.

In addition, Alton continued to support global and local communities through its commitment to the Pledge 1% movement for corporate impact, electing to donate 1% of annual revenue to charity and dedicating 1% of employee time to volunteer work. In 2025, Alton’s lifetime charitable contributions exceeded the $1 million mark. 

“Our strong performance in 2025 was underpinned by the experience of our team and demonstrates the value of combining deep aviation expertise with practical, execution-focused advice,” said John Mowry, managing director, Alton Aviation Consultancy. “As market dynamics shift, investing in our people remains central to how we deliver consistent, high-quality outcomes for clients.”

Adam Cowburn, managing director, Alton Aviation Consultancy, added: “In 2026, we expect continued opportunities for M&A transactions, supported by improving market fundamentals, although supply chain challenges and broader macroeconomic factors will remain important considerations for industry stakeholders. Alton is well positioned to support clients as they evaluate complex opportunities and navigate an evolving market.”

Launch Ceremony of the Aircraft Landing Gear Production Plant Project, Representing an Investment of €280 million by the Safran Group in Morocco

His Majesty King Mohammed VI, accompanied by HRH Crown Prince Moulay El Hassan, chaired at the Royal Palace in Casablanca the presentation and launch ceremony of the project to build a landing gear production factory for Safran in Nouaceur, Morocco. The project reinforces Morocco as an integrated industrial actor in the global economy.

Considered one of the largest manufacturing centers in the world for Safran Landing Systems, the plant will represent an investment of more than EUR 280 million, create 500 jobs, and operate on 100% decarbonized energy, while helping attract new suppliers within the Moroccan ecosystem. The future site will be located within the integrated aeronautics and space platform Midparc.

It will bring advanced capabilities in precision machining, high-technology assembly, testing, certification and advanced maintenance to the area. Dedicated to the Airbus A320, the factory will be equipped with modern, high-performance production tools.

The project bears witness to the attention granted by His Majesty the King to Morocco’s industrial development and highlights the momentum driven by the Sovereign to position the Kingdom as a competitive industrial platform on a global scale.

Minister of Industry and Trade Ryad Mezzour underlined that in two decades Morocco has risen to the rank of a world-reference aeronautical platform. In this dynamic, Safran, a partner of the Kingdom for a quarter of a century, occupies a special place by accompanying the move upmarket of the national industry.

The plant will be developed on a land base of more than seven hectares. For Mezzour, manufacturing landing gear systems in Morocco demonstrates mastery of complex technologies and marks a new step in consolidating integration into global value chains. He added that the project opens prospects for Moroccan youth, with 25,000 talents already active in the sector.

Safran Chairman Ross McInnes welcomed the continuation of this partnership, recalling the launch last October of the aircraft engine industrial complex under the presidency of His Majesty the King. The project will support the ramp-up of Airbus A320 production while preparing future aircraft generations.

At the conclusion of the ceremony, His Majesty the King presided over the signing of the memorandum of understanding relating to the project.

Audit Initiated of FAA’s Oversight of Repair Station Certification Procedures

The Federal Aviation Administration (FAA) Reauthorization Act of 2024 mandated that the Office of the Inspector General’s office conduct a series of audits to assess how consistently FAA interprets and applies policy regarding supplemental type certificates, repair stations and technical standards orders. The OIG is initiating the third audit in the series and will focus on FAA’s consistency in certificating domestic repair stations.

All repair stations performing work on U.S.-registered aircraft must be certificated by FAA under 14 Code of Federal Regulations Part 145. To issue an air agency certificate, FAA inspectors carry out a five-phase process to thoroughly review, evaluate,and test the repair station’s programs, systems and intended methods of compliance. FAA authorizes six general ratings and subclasses that specify what work a repair station can do.

While FAA’s repair station certification procedures are standardized, individual FAA offices may interpret standards, which include orders, guidance and regulations, differently when evaluating system design, approving ratings, or assessing compliance. Accordingly, their objective will be to evaluate whether FAA has sufficient controls in place to provide reasonable assurance that inspectors are consistent in interpreting and applying standards when certificating domestic repair stations.