HEICO Corporation has reported that its Electronic Technologies Group entered into a stock purchase agreement to acquire 100% of the stock of AeroAntenna Technology Inc. (AAT). Chatsworth, CA-based AAT is a leader in the design and production of high performance active antenna systems for critical defense applications, precision guided munitions, commercial aircraft and other commercial
LATAM Airlines Group reported an operating income of US$48.2m and an operating margin of 2.1% for the quarter, an increase of 2.0 points compared to the same period last year. Despite being seasonally the weakest quarter of the year, these results reflects important improvements in revenue and cost management that LATAM has been able to
Posting its first interim loss since 2012, Cathay Pacific has blamed its HK$2.05bn interim loss on stiff competition both from Chinese airlines as well as low-cost carriers. Hong Kong-based Cathay Pacific had been expected to post a loss, but analysts had underestimated it with a projected HK$1.2bn deficit.Passenger revenue fell to HK$32.1bn, 3.9 percent down
Singapore Technologies Engineering (ST Engineering) has announced that Group revenue for its second quarter ended 30 June 2017 (2Q2017) came in 8% higher at S$1.76bn compared to S$1.62bn in the same period last year. Group quarterly Profit before tax (PBT) fell 12% year-on-year to S$149.8m from S$170.3m, mainly due to an S$8.1m loss from the
Israel Aerospace Industries, Israel’s largest national military and civilian security defense company, has issued its consolidated financial statements for the quarter ended June 30, 2017. In the second quarter 2017, the Company reported a record growth in order backlog to US$11.1bn. The Company reported sales totaling US$859m in the second quarter of the year, as
The HAECO Group reported an attributable profit of HK$348m for the first six months of 2017. This compares with a profit of HK$1,111m for the equivalent period in 2016, which included a gain of HK$805m on disposal of the interest of Hong Kong Aero Engine Services Limited (HAESL) in Singapore Aero Engine Services Pte. Limited
After posting a series of annual losses, including €780 million in 2016, Air Berlin, Germany’s second-largest carrier by passenger numbers, has filed for bankruptcy protection after Gulf carrier Etihad Airways, a 30% stakeholder in the company, withdrew any further financial support. Air Berlin has been granted a €150 million bridging loan to enable it to
In the second quarter of 2017, Chorus reported adjusted EBITDA of US$65.5m versus US$57.8m in 2016; an increase of US$7.7m or 13.3%. Adjusted net income was US$26.7m for the quarter, an increase from the second quarter of 2016 of US$4.9m or 22.3%. The change was a result of the US$7.7m increase in adjusted EBITDA previously
FLY is reporting net income of US$2.9m for the second quarter of 2017. This compares to net income of US$4.7m for the same period in 2016. Net income for the six months ended June 30, 2017 was US$7.9m. For the same six month period in 2016, net income was US$11.8m. Adjusted net income was US$9.7m
HNA Group Co., (HNA), the Chinese conglomerate headquartered in Haikou, Hainan, China has continued with its European expansion program with the acquisition of an 82.5% stake in Frankfurt-Hahn Airport at a cost of US$15.8 million. The successful bid was made back in March this year and received European regulatory approval. The stake was owned by
