MTU Aero Engines AG generated revenues of €1,016.4m in the first quarter of 2018, an increase of 5% compared with the same period of the previous year (1-3/2017: €971.9m). The group’s operating profit rose by 11% from €157.9m to €175.1m, pushing up the EBIT margin from 16.2% to 17.2%. Earnings after tax increased in line
Spirit AeroSystems has signed a definitive agreement to acquire S.R.I.F. N.V., the parent company of Asco Industries, N.V. (Asco), for US$650m in cash, subject to customary closing adjustments, including foreign currency adjustments. Asco is a leading supplier of high lift wing structures, mechanical assemblies and major functional components to major OEMs and Tier-1 suppliers in
Jet Aviation has completed its acquisition of Hawker Pacific, a leading provider of Civil MRO, Fleet and FBO Services and Aircraft Sales across Asia Pacific and the Middle East. The transaction is valued at US$250m. Rob Smith, president of Jet Aviation, said: “We are now in a position to further expand our current portfolio, enter
Boeing has announced that it has entered into a definitive agreement to acquire KLX Inc. excluding KLX Inc.’s Energy Services Group. KLX is a major independent provider of aviation parts and services within the aerospace industry. The intention is for KLX to become fully integrated with Boeing’s Aviall in order to broaden the scope of
Air Canada has posted first quarter 2018 EBITDAR (earnings before interest, taxes, depreciation, amortization, impairment and aircraft rent) of CA$397m compared to first quarter 2017 EBITDAR of CA$366m. Air Canada reported an operating loss of CA$14m compared to an operating loss of CA$30m in the first quarter of 2017. The airline reported an adjusted pre-tax
In the first quarter 2018 (1Q18), Embraer delivered 14 commercial and 11 executive aircraft (8 light jets and 3 large jets), for a total of 25 jets delivered during the quarter. This compares to 1Q17 deliveries of 18 commercial jets and 15 executive jets (11 light and 4 large). The Company’s first quarter deliveries are
“The first quarter performance reflects the shortage of A320neo engines and back-loaded aircraft deliveries as we indicated in the full-year disclosure. This is clearly shown in the financials,” said Airbus Chief Executive Officer Tom Enders. “It’s a challenging situation for all but based on the confidence expressed by the engine makers and their ability to
The Lufthansa Group continues its successful path in the first quarter of 2018. The Group’s Network Airlines increased their Adjusted EBIT margin by 3.2 points to 2.4% in what is traditionally the weakest quarter for all airlines. Lufthansa Cargo achieved a strong Adjusted EBIT margin improvement: up 4.3 points to 10.1%. These improved earnings were
Norwegian has reported its first quarter earnings for 2018 with a result of NOK-46.2m (£-4.16m). The quarter was characterized by international expansion, strong passenger growth and higher fuel cost. A successful private placement of shares was completed this quarter. The net result was NOK-46.2m, compared to NOK-1,491.5m the same quarter previous year. The net result
American Airlines Group has reported its first-quarter 2018 results with Pre-tax earnings excluding net special items of US$468m, a US$193m decrease from the first quarter of 2017. First-quarter 2018 total revenue increased 5.9% year-over-year, to US$10.4bn. Passenger revenue per available seat mile (PRASM) grew in all geographic regions, with notable strength in Latin America. Cargo
