BOC Aviation has reported its financial highlights for the year ended 31 December 2018. Total revenues and other income rose 23% year-on-year, to US$1,726 million. Profit before tax was US$685 million, up 24% year-on-year, and net profit after tax was US$620 million. Total assets increased 14% year-on-year, to US$18 billion at 31 December 2018. The
Icelandair Group has entered into a US$80 million loan agreement with an Icelandic financial institution. Ten of the company’s Boeing 757 aircraft will be encumbered as a security for the repayment of the loan. The maturity date of the loan will be based on a 5-year term. The company expects that the loan amount will
Héroux-Devtek has reported that consolidated sales increased 49.0% to CA$144.5 million, compared with CA$97.0 million last year, driven by CESA and Beaver which together have contributed CA$39.6 million, as well as 8% organic growth. The company achieved higher sales in both defence and commercial aerospace markets and had a net positive impact on third-quarter sales
Aircraft operating lessor Aviation Capital Group (ACG), has received an additional US$200 million investment from its minority shareholder, Tokyo Century Corporation. Tokyo Century has held an investment in ACG since December 2017. With this additional investment, Tokyo Century’s ownership in ACG increases to 24.5%. Pacific Life will retain a controlling interest in ACG.
Boeing has completed the acquisition of ForeFlight, a provider of innovative mobile and web-based aviation applications. ForeFlight has partnered with Boeing for the past two years to bring aviators Jeppesen’s aeronautical data and charts through ForeFlight’s popular mobile platforms. Now, the teams will integrate talent and offerings to bring innovative, expanded digital solutions to all
Financial problems at India’s Jet Airways has now resulted in 21 of its predominantly leased fleet of 119 aircraft grounded through payment default to leasing companies. This figure does not include aircraft which have been grounded for maintenance purposes. Abu Dhabi’s Etihad Airways holds a 24 percent stake in the beleaguered carrier. With an increasing
Loftleidir Cabo Verde has acquired 51% of the shares of Cabo Verde Airlines. Loftleidir Icelandic, which is a subsidiary of Icelandair Group, holds a 70% stake in Loftleidir Cabo Verde, and other investors 30%. The acquisition of Cabo Verde Airlines does not have a significant effect on Icelandair Group’s financial statements since Cabo Verde Airlines
Aero Capital Solutions (ACS), a mid-life aircraft leasing platform, has successfully closed its first aviation investment vehicle with total aggregate equity commitments of US$200 million. Investors include a broad group of sophisticated investors, registered investment advisers, and single and multi-family offices. In addition to the US$200 million of equity, ACS closed on a US$400 million
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
