The Boeing board of directors has replaced the existing share repurchase program with a new US$18bn authorization. The company this year has repurchased US$9.2bn worth of its shares from the US$14bn authorization approved in December 2016. The new repurchase program replaces the existing one, bringing the total authorization to US$18bn. The timing and volume of
At its Investor and Analyst Day 2017, MTU Aero Engines AG provided an outlook for the period to 2025. 2017 marks the end of the company’s most substantial investment phase, from which it emerged with an increased adjusted EBIT margin. In 2018, MTU will move into a consolidation phase during which the company expects a
Rolls-Royce has obtained the approval of all the relevant authorities for the acquisition of the outstanding 53.1% shareholding in Industria de Turbo Propulsores SA (ITP) owned by SENER Grupo de Ingeniería SA (SENER). Approval from the authorities in Spain paves the way for Rolls-Royce to conclude the acquisition, which was originally announced on July 11,
AeroParts & Supply (APS), an aircraft parts distribution and repair station located at Dallas Executive Airport (KRBD), has reported that as of December 1, 2017, it has been acquired by a group of aviation investors led by James Noe of RBR Maintenance Inc. James personally has more than 30 years of experience in aviation maintenance,
Bombardier has successfully closed its previously announced offering of US$1,000,000,000 aggregate principal amount of new Senior Notes due December 1, 2024, which carry a coupon of 7.50% per annum and were sold at par (the Notes). Bombardier intends to use the net proceeds of this offering of Notes to finance a previously announced tender offer
Airborne Capital has announced its launch with a strong industry experienced management team, and with substantial backing from FEXCO Group, Ireland’s largest privately owned financial services company. The company has aggressive plans to grow the business to have aircraft asset under management of over US$5bn within the first five years of being set up. Headquartered
Reporting on underlying earnings for the year to September, U.K. travel giant Thomas Cook has reported a 40% plummet in earnings as it struggled to cope with a ‘challenging market and weakness of the devalued pound. Earnings at £56 million (US$73 million) were down from £86 million (US$114 million) for the same period in 2016,
easyJet reported record number of passengers at 80.2 million, up 9.7% year on year, with record load factor at 92.6% (2016: 91.6%), reflecting easyJet’s strong network positions and customer proposition. Capacity grew by 8.5% to over 86.7 million seats, as easyJet continued its strategy of purposeful investment with a focus on number one and two
Bombardier has launched an offering of US$900m aggregate principal amount of new Senior Notes due 2024 (the Notes). The net proceeds of the offering are expected to be used to finance a tender offer (the Tender Offer) for all US$600m aggregate principal amount outstanding of Bombardier’s 4.75% Senior Notes due 2019 (2019 Notes) and the
Avolon, the international aircraft leasing company, has announced the re-pricing and partial repayment of its US$500m Term Loan B-1 (TLB-1) facility. The TLB-1 facility, with a September 2020 maturity, was originally priced in March 2017 at LIBOR plus 2.25% with a LIBOR floor of 0%. The facility has now been repriced at LIBOR plus 1.75%
