Alaska Air Group has reported fourth quarter 2018 GAAP net income of US$23 million, compared to US$315 million in 2017. Excluding the impact of merger-related costs, other special items, and mark-to-market fuel hedge adjustments, the company reported fourth quarter adjusted net income of US$93 million, compared to adjusted net income of US$88 million in the
Vx Capital Partners (Vx) has closed its inaugural asset-backed deal, becoming the first issuer since 1999 to securitize an all-freighter portfolio. The loan-format issuance generated US$189 million across three classes of term loans, secured by thirty-five 737 Classic freighters. Most of the aircraft were originally acquired in passenger configuration by Vx and subsequently converted and
Bombardier, the Canadian plane and train maker, has signed a definitive agreement to buy Triumph Group Inc.’s Global 7500 wing program in a bid to strengthen its position as a leading aerostructures manufacturer, while also securing the production ramp-up and long-term success of the company’s flagship business jet. The wing program will be incorporated into
Safran has acquired an equity interest in OXIS Energy through its Safran Corporate Ventures subsidiary, which invests in disruptive technology businesses. OXIS Energy, a leader in lithium-sulfur cell technology for high energy density battery systems, has already been granted 173 patents with 96 pending. Benefiting from more than 15 years of R&D in the field
United Technologies Corp. has reported fourth quarter and full year 2018 results above expectations and announced an outlook for continued sales, earnings and free cash flow growth in 2019. Full year sales of US$66.5 billion were up 11% over the prior year, including 8 points of organic sales growth, 1 point of net acquisitions impact and
Finalizing their third technology-related investment within a year and after investing in Fleet Logistics and cargo.one. startups, Lufthansa Group and the Lufthansa Innovation Hub have now invested heavily in a research alliance with Hopper which will be focussed on the subject of artificial intelligence. The two companies are looking to establish a long-term collaboration involving
easyJet has delivered a good performance in the quarter with robust customer demand driving passenger and ancillary revenue which is in line with expectations. Underlying revenue per seat was positive, including good ancillary revenue growth. This was offset, as expected, by the impact from last year’s one-off revenue benefits, the dilutive impact of flying at
Dassault Aviation has announced from its Saint-Cloud base in France that it has signed a binding agreement with Luxaviation to acquire the worldwide maintenance activities of its subsidiary, Execujet, this year, subject to obtaining the necessary administrative authorizations. “The acquisition of ExecuJet’s MRO (Maintenance, Repair & Overhaul) operations will strengthen Dassault Aviation’s global footprint, especially
Germania Fluggesellschaft has found a solution to cover its short-time liquidity needs. Karsten Balke, CEO of Germania Fluggesellschaft said on January 19: “With regard to our financing efforts, we have received an important commitment. In total, the financial support now exceeds the initial target amount of €15 million. We should receive the funds in the
On the tenth anniversary of its founding, WNG Capital, an independently owned, specialist operating lessor dedicated to investing in used commercial aircraft manufactured by Airbus and Boeing, has announced the closing of WNG Aircraft Opportunities Fund II. WNG targeted a US$300 million fund raise to invest in late life narrow body aircraft and is oversubscribed
