FLY is reporting a net loss of US$63.8m for the fourth quarter of 2016. The loss is primarily driven by a US$92m non-cash impairment charge taken on three older, out-of-production wide-body aircraft. In the fourth quarter of 2015, FLY reported net income of US$19.1m. The net loss for the year ended December 31, 2016 was US$29.1m compared to net income of US$22.8m for the year ended December 31, 2015. Adjusted Net Income was US$30.6m for the fourth quarter of 2016 compared to US$48.3m in the same period in the previous year. For the year ended December 31, 2016, adjusted net income was US$79.3m compared to US$132.0m for the year ended December 31, 2015.
Biden FAA leader nominee withdraws after “an onslaught of unfounded Republican attacks”
American President Joe Biden’s nominee for the role of leader of the United States Federal Aviation Administration (FAA), Phillip Washington, has withdrawn his name owing to “an onslaught of unfounded Republican attacks which have focused on his service and experience, CNN reported. Though his announcement for the role was made last year, since then the