5 January 2009

Goodrich and Rolls-Royce complete engine controls joint venture

Goodrich Corporation and Rolls-Royce Group have completed the formation of a joint venture company to develop and supply engine controls for Rolls-Royce aero engines. The transaction closed on December 31, 2008. The joint venture company, Rolls-Royce Goodrich Engine Control Systems Limited, operates as Aero Engine Controls. Each of the contributing companies owns 50 per cent …

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AerCap signs $1.4 billion facility agreement for A330 financing

AerCap Holdings has signed a facility agreement with Calyon S.A. and other banks and financial institutions, outlining the terms pursuant to which the European Export Credit Agencies may provide guarantees on up to $1.4 billion of financing. This represents a significant portion of the remaining financing needed for the Airbus A330 order delivering between 2009 …

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Air New Zealand test flight proves viability of Jatropha Biofuel

The world’s first commercial aviation test flight powered by the sustainable second-generation biofuel jatropha has been successfully completed in Auckland. More than a dozen key performance tests were undertaken in the two hour test flight which took-off at 11:30am (NZ time) from Auckland International Airport. A biofuel blend of 50:50 jatropha and Jet A1 fuel …

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Delta Air Lines completes offering of common stock

Delta Air Lines has completed its offering of common stock. The company sold 18,172,219 shares of common stock through a continuous offering program equity distribution agreement with Citi, generating gross proceeds of approximately $196 million. All of the shares of stock sold in this offering were withheld, as the employee portion of withholding taxes on …

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Frontier Airlines shows net profit for November 2008

Frontier Airlines Holdings filed its Monthly Operating Report for November 2008. Frontier reported a consolidated net profit of $2.9 million and an operating profit of $2.5 million for the month. Included in Frontier’s operating profit were non-cash mark-to-market losses on fuel hedge contracts of $2.0 million. Frontier’s cash position increased to $53.4 million for November …

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