AerCap Holdings N.V. has released that its shareholders have approved the previously announced acquisition of GE Capital Aviation Services (GECAS), a General Electric business, at the Annual General Meeting of shareholders held on May 12. The transaction remains subject to the receipt of necessary regulatory approvals and to the satisfaction of other customary closing conditions.
Israel Aerospace Industries (IAI), Israel’s largest national military and civilian security defense company, has issued its consolidated financial statements for the quarter ended March 31, 2021. The company’s sales in Q1 2021 totaled approx. US$1,015 million compared with approx. US$1,018 million in Q1 2020, a decrease of US$3 million mainly arising from the increase in
The wholly owned aviation asset management unit of Singapore Technologies Engineering (ST Engineering) and the Singapore-headquartered investment company Temasek have announced the intention to create a 50-50 joint venture for freighter aircraft leasing to meet the expanding demand for freighter aircraft as e-commerce and air cargo volumes expand globally. The JV has set a five-year
Willis Lease Finance has reported first-quarter total revenues of US$61.1 million and a pre-tax loss of US$1.7 million. The company reported lower revenue in the first quarter when compared to the prior year period, primarily due to the impact of the COVID-19 pandemic. The slowdown in global travel continues to impact aircraft and engine utilization
Triumph Group has completed the sale of three of its aerostructures sites to Arlington Capital Partners. The transaction was effective May 7, 2021 and includes the Triumph Composites business consisting of the Milledgeville, Georgia and Rayong, Thailand operations, as well as its structures operations in Red Oak, Texas. Combined, the businesses encompass approximately 1.8 million
For the second year running, Air Canada has posted a massive net first-quarter operating loss. This year the carrier has reported a CA$1.304 billion loss (CA$3.90 per diluted share) compared to a first-quarter operating loss of CA$1.049 billion (CA$4.00 per diluted share) in 2020. In the first quarter of 2021, on a capacity reduction of
IAG Cargo, the cargo arm of International Airlines Group (IAG) has reported its first-quarter financial results with cargo markets still impacted by the pandemic. Revenues of €350 million were achieved from January 1 to March 31, 2021 an increase of 50% at constant currency versus the same period last year. Overall yield for the quarter
Air T, an industrious American holding company which operates a group of independent, yet interrelated, aviation businesses, has announced the formation of a new aircraft asset management business called Contrail Asset Management (CAM), and a new aircraft capital joint venture called Contrail JV II LLC (CJVII). The new joint venture has been formed as a
Astronics Corporation, a leading supplier of advanced technologies and products to the global aerospace, defense, and other mission critical industries, has reported financial results for the three months ended April 3, 2021. First-quarter revenue was US$105.9 million, down 32.8% from the comparator period of 2020. The company incurred a net loss of US$11.9 million and
Spirit AeroSystems’ first-quarter 2021 revenue was US$900.8 million, down from the same period of 2020, primarily due to the significantly lower wide-body production rates as a consequence of reduced international air traffic resulting from the impacts of COVID-19 as well as lower production rates on the Airbus A320 program. First-quarter 2021 revenue includes increased revenue
