Air Asia is to sell its plane leasing operations to firms managed by BBAM Ltd. and which will see the sale of an impressive 182 Airbus jets. The initial part of the deal with one of the world’s largest aircraft portfolio managers is valued at US$1.2 billion and will assist AirAsia, the region’s largest budget
TrueNoord, the regional aircraft lessor, has closed its term loan financing facility with Nord/LB Norddeutsche Landesbank for five Embraer E190 aircraft that it purchased from BOC Aviation in January with leases attached. Pillsbury acted as legal advisers for TrueNoord throughout the transaction. This new group of five E190 aircraft operated regionally by KLM Cityhopper represents
Air Transport Services Group has posted consolidated financial results for the quarter ended December 31, 2017. Fourth quarter revenues increased US$101.3m, or 46%, to US$323.0m and revenues for all of 2017 rose 39% to US$1.1bn. ATSG’s leasing, airlines, maintenance and logistics businesses all recorded double-digit revenue increases before eliminations for the fourth quarter. Fourth quarter
The Regional Express (Rex) Group has posted its first half financial year 2018 (1H FY18) results. Rex announced a statutory Profit Before Tax (PBT) of AU$13.8m for the first half, on a turnover of AU$151m, representing a 60% improvement on its PBT compared to the prior period. Rex Executive Chairman Lim Kim Hai said, “first
AeroCentury, a global aircraft leasing company has reported that the California Department of Business Oversight has determined that the terms and conditions of the offer and sale of AeroCentury common stock in AeroCentury’s proposed Merger (the Merger) with JetFleet Holding Corp. (JHC) are fair. Consequently, the Department issued a permit authorizing AeroCentury to solicit the
IAG has reported full year performance with an operating profit of €3,015m before exceptional items, up 18.9% compared to last year. Passenger unit revenue improved 1.5% at constant currency and the Group benefited from reduced fuel costs for most of 2017 though the fuel bill started to rise in the fourth-quarter. In the fourth-quarter the
The Qantas Group has delivered its highest-ever first half Underlying Profit Before Tax of AU$976m for the six months ending 31 December 2017. The result surpasses the previous record of AU$921m achieved in the first half of FY16 and comes despite recent increases in fuel costs and continued international capacity growth. Both Underlying and Statutory
Flydubai has reported its Full-Year Results for the year ending 31 December 2017. flydubai reported total revenue of AED 5.5bn (US$1.5bn) compared to AED 5bn (US$1.37bn) last year; an increase of 9.2% compared to the same period reported in last year’s results. The airline reported a profit of AED 37.3m (US$10.1m) for the full year
Avolon, the international aircraft leasing company, has released results for the 2017 full year. The year was headlined by the acquisition and integration of CIT’s aircraft leasing business. Avolon’s owned, managed and committed fleet grew 109% in 2017 to 908 aircraft by year-end and full year profit after tax increased 59% to US$550m. Avolon reported
Air Canada has reported full year 2017 EBITDAR of CA$2.921bn compared to the previous full year 2016 EBITDAR of CA$2.768bn, an increase of CA$153m. Air Canada reported 2017 operating income of CA$1.364bn compared to 2016 operating income of CA$1.345bn. Adjusted pre-tax income amounted to CA$1.158bn in 2017 compared to adjusted pre-tax income of CA$1.148bn in
