SIAEC Group recorded a profit attributable to owners of the parent of SG$184.1m for the financial year ended 31 March 2018. Profit last year included a gain from the divestment of the Group’s 10% stake in Hong Kong Aero Engine Services (HAESL) to Rolls-Royce Overseas Holdings Limited (RROH) and Hong Kong Aircraft Engineering Company Limited
TurbineAero has signed a definitive agreement to buy the assets of Triumph Aviation Services Asia Auxiliary Power Unit (APU) Repair Product Line (RPL) from the Triumph Group. The RPL purchase is the result of the exercise of an option provided to TurbineAero and its lead investor, The Gores Group, in the agreement to buy Triumph
The Fraport Group saw revenue and earnings figures increase significantly during the first quarter of business year 2018 (ending March 31). Supported by strong passenger growth at Frankfurt Airport (FRA) and most of the airports in Fraport’s international portfolio, Group revenue advanced by 15.0% to €681.7m. Major revenue contributions came from Fraport Greece (€44.3m) and
Singapore Technologies Engineering has achieved higher year-on-year revenue and net profit for its first quarter 2018 (1Q2018). Group revenue was 9% higher at SG$1.65bn compared to $1.51bn in the same period last year, and its profit Attributable to Shareholders (net profit) improved 18% to SG$117.7m from SG$99.9m a year ago. At the business sector level,
Willis Lease Finance has reported a pre-tax profit of US$9.6m in the first quarter of 2018. The Company achieved record quarterly lease rent revenue of US$39.6m in the period driven by 86% average utilization of a portfolio that grew 9.2% to US$1.466bn at quarter-end compared to $1.343 billion at December 31, 2017. Aggregate lease rent
Avolon Holdings, the international aircraft leasing company, has reported the re-pricing and extension of its senior secured US$4.75bn Term Loan B facility. The Facility has now been extended from an original maturity of April 2022 to January 2025 and has been repriced at LIBOR plus 2.00% with a LIBOR floor of 0.75%, subject to an
The U.S. Bureau of Transportation Statistics has revealed that the 23 largest American carriers made a combined profit of US$15.5 billion last year, resulting in an after-tax profit being recorded for the fifth year in succession. This shows that the strong rebound from the previous ten years of losses continues. However, the airline industry has
AviaAM Leasing has obtained a new HQ building in Limassol, Cyprus. While already managing subsidiaries in Ireland, Lithuania, Cyprus, and China, the company has invested €4.3m in this new office building. “The estate, located on the main street of Limassol, will represent our Lithuanian founded company. We are planning to expand our activities in Cyprus.
Leonardo Helicpoters has released that new orders for the first quarter amounted to €2,164m, showing a decline of 18.2%, mainly due to major contracts booked in 2017 in Aeronautics for activities in support to the EFA aircraft fleet for the period from 2017 to 2021 The order backlog amounted to €33,360m compared to €33,637m at
WestJet has posted its first quarter results for 2018, with net earnings of CA$37.2m, compared to CA$46.7m the previous year, down 22%. WestJet achieved its 52nd consecutive quarter of profitability and flew an all-time quarterly record of 6.1 million guests. Based on the trailing twelve months, the airline achieved a return on invested capital of
