CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing (CDB Leasing), announced the closing of a US$525 million unsecured credit facility, which marks the company’s first such syndicated transaction. The five-year facility, which will be used for general corporate purposes, was led by Bank of China (Hong Kong) Limited, Crédit Agricole
United Technologies has reported first quarter 2019 results. Sales of US$18.4 billion were up 20% over the prior year, including 8 points of organic sales growth and 15 points of acquisition benefit offset by 3 points of foreign exchange headwind. GAAP EPS of US$1.56 was down 4% versus the prior year and included 25 cents
United Airlines has posted first quarter net income of US$292 million, pre-tax earnings of US$367 million and pre-tax margin of 3.8%, expanding pre-tax margin 1.8 points versus the first quarter of 2018. United reported first-quarter adjusted net income of US$309 million and adjusted pre-tax earnings of US$389 million. Adjusted pre-tax margin of 4.1% expanding adjusted
Singapore Technologies Engineering refers to its earlier announcements made on September 13, 2018, March 29, 2019 and April 14, 2019, in relation to the proposed acquisition by its US subsidiary, Vision Technologies Aerospace Incorporated, of a 100% ownership in MRA Systems (MRAS). On April 18, 2019, the proposed acquisition was completed at a net consideration
Unable to obtain emergency funding, Jet Airways, India’s second-largest commercial airline, has cancelled all flights Wednesday, April 17. “Jet Airways is compelled to cancel all its international and domestic flights. The last flight will operate today,” it said in a statement on Wednesday, adding that the decision would take “immediate effect”. The carrier confirmed it
Lufthansa Group’s Adjusted EBIT declined to €-336 million in the first quarter of 2019 compared to €52 million for the first quarter of 2018, despite a 3 percent increase in total revenue of €7.9 billion for the quarter compared to 2018 figures. Adjusted EBIT was reduced by a EUR 202 million rise in fuel costs.
Delta Air Lines has reported financial results for the March quarter 2019. Delta’s adjusted operating revenue of US$10.4 billion for the March quarter improved 7.5%, or US$728 million versus the prior year. March quarter 2019 GAAP pre-tax income was US$946 million and net income was US$730 million. Delta generated US$2 billion of operating cash flow,
With the continued worldwide grounding of the 737 MAX, Boeing has announced that it will be reducing production of the narrow-body jet by 20 percent from 52 units per month to 42 units per month starting in mid April. The news hit the planemaker’s share price even further since the crash of a 737 MAX
The Liebherr Group notched up a turnover of €10,551 million in 2018, breaking through the €10 billion barrier for the first time in the company’s history. This represents an increase of €739 million, or 7.5 %, compared with the previous year. The Liebherr Group achieved a net profit of €321 million in 2018, slightly above
Latvian airline airBaltic continued its growth in 2018 and achieved strong financial results. According to the 2018 financial year, airBaltic achieved €400 million revenue, while net income grew by more than 40% compared to 2017, reaching €5.4 million. Martin Gauss, Chief Executive Officer of airBaltic commented: “For the sixth year in a row we are
