Magnetic MRO has completed the acquisition of Direct Maintenance, an Amsterdam-based independent MRO provider that’s specialized in Line Maintenance for narrow- and wide-body aircraft. The deal adds Airbus A380 and Boeing 787 to Magnetic MRO group’s capabilities, and doubles its global line stations network while allowing the Dutch company to keep the Direct Maintenance brand.
Air New Zealand has posted earnings before taxation of NZ$211 million for the six month period ended 31 December 2018, compared to NZ$323 million in the prior period. Net profit after taxation was NZ$152 million. Key drivers of the interim result included operating revenue growth of 7.1%, which was more than offset by a 28% increase in
DVB Bank has signed an agreement with MUFG Bank, a consolidated subsidiary of Mitsubishi UFJ Financial Group and BOT Lease, an affiliate of MUFG, for the sale and transfer of DVB’s Aviation Finance division to the firms. The purchase agreement provides for the entire Aviation Finance client lending portfolio (€5.6 billion as at 30 June
SAS Scandinavian Airlines has reported its figures for the first quarter 2019. Revenue amounted to MSEK 9,534 compared to MSEK 8,978 in the first quarter 2018. Earnings before tax and nonrecurring items was MSEK -724 compared to MSEK -385 the previous year. EBT was MSEK -576 compared to MSEK -285 in 2018. Net income for
Air Transport Services Group has reported consolidated financial results for the quarter and year ended December 31, 2018. Customer revenues were US$280.8 million in 4Q 2018 vs. same-basis US$221.2 million in 4Q 201. GAAP Earnings from Continuing Operations were negative US$5.2 million, vs. US$94.1 million in 4Q 2017. Adjusted Earnings from Continuing Operations (non-GAAP) US$24.1
In a bid to counter French influence over the Dutch arm of Air France-KLM, the Dutch government has acquired a 12.7 percent stake. With the move highlighting the rising tension between the two countries, shares in Air-France KLM had fallen by 11.3 percent at 1612 GMT according to Reuters. Late on Tuesday, Dutch Finance Minister
Safran has reported adjusted revenue of Euro 21,050 million for FY 2018, an increase of 32.0% on a reported basis, including a ten-month contribution of Euro 3,799 million from Zodiac Aerospace and Euro (338) million of currency impacts. On an organic basis, adjusted revenue grew 10.4%. Adjusted recurring operating income was Euro 3,023 million (14.4%
96.8 percent of Brazil’s Embraer shareholders have voted in favour of the sale of 80 percent of the company’s commercial plane division to The Boeing Company (Boeing). The sale will now only require global antitrust regulator approval. According to Reuters, Boeing will pay US$4.2 billion, and the 20:80 joint venture between Embraer and Boeing will
Aircraft operating lessor Aviation Capital Group, has structured, arranged, and provided a guarantee of a loan by MUFG Bank (MUFG) to finance a portion of the purchase price of one Boeing 747-8F aircraft delivered to AirBridgeCargo (ABC) Airlines. The ABC financing utilized ACG’s Aircraft Financing Solutions (AFS) program. The AFS program complements ACG’s operating lease
Qantas has reported underlying profit before tax of AU$780 million while statutory profit was AU$735 million. Compared with its result of last year, that’s a drop of AU$179 million at the underlying level – and despite a AU$416 million increase in its fuel bill. Qantas Loyalty achieved another record result with profit up 4%. This
