For the first quarter of fiscal year 2018, FedEx has reported revenue of US$15.3bn, compared to US$14.7bn in the first quarter of fiscal 2017. Operating income was US$1.12bn, compared to US$1.26bn the previous year and operating margin was 7.3% compared to 8.6% in the first quarter of fiscal year 2017. Net income was US$596m, compared
AAR has expanded its maintenance, repair and overhaul (MRO) network into Canada with the acquisition of two Premier Aviation aircraft facilities, one at Trois-Rivières Airport, Québec and the other at Windsor International Airport, Ontario. Premier Aviation established the MRO facility in Trois-Rivières in 2002 and expanded it to 150,000 ft² in 2011. The facility can
Privately held commercial aircraft lessor Intrepid has closed its first Aircraft Finance Insurance Consortium (AFIC) backed financing for one 747-8 Freighter (747-8F), on lease to AirBridge Cargo Airlines. The financing was arranged and underwritten by ING Capital and Apple Bank. The transaction represents the first non-payment insurance backed financing ever closed by an operating lessor
BP has reported an initial investment and the creation of a strategic partnership between its BP Ventures and Air BP businesses with Victor, one of the world’s leading ‘on-demand’ marketplaces for private jet charters. As part of the partnership, BP Ventures has committed to investing US$10m in Victor. In addition, Air BP has entered into
TrueNoord, the regional aircraft lessor, has released that Aberdeen Asset Management, a leading global asset management firm and part of the newly merged investment company – Standard Life Aberdeen, will be co-investing in the company alongside BlackRock who joint as investor in June this year, and Bregal Freshstream who invested in the company in 2016.
Transaero has been declared bankrupt by the Commercial Court of St. Petersburg and Leningrad Region. Bankruptcy proceedings have been initiated for a period of six months. In March, 2015 the airline was unable to pay debts which had accumulated to the level of 77 billion rubles (approximately US$1.1 billion). Plans for Aeroflot to take over
Avolon, the international aircraft leasing company, has announced the pricing of a private offering by its wholly owned subsidiary, Park Aerospace Holdings Limited, of US$950m aggregate principal amount of 4.500% Senior Notes due 2023, at par, and US$300m aggregate principal amount of 3.625% Senior Notes due 2021 (together with the 2023 notes, the “Notes”), at
American Airlines has adjusted its third quarter outlook due to the impact of hurricane Irma. American Airlines’ estimate for its third quarter total revenue per available seat mile (TRASM) was in line with prior guidance of up 0.5% to up 2.5% year-over-year. However Hurricane Irma caused closures at 40 airports in Florida and the Caribbean,
Luxaviation Helicopters, part of the Luxaviation Group, has announced the acquisition of Starspeed, the global helicopter management, charter and training company. The deal, Luxaviation Helicopters’ first acquisition since launching in February 2017, positions the company as the world’s largest VIP and VVIP helicopter operator. Luxaviation Helicopters will incorporate Starspeed’s fleet of 23 helicopters into its
Thales has closinged the acquisition of US company Guavus, a pioneer in real-time Big Data analytics. Guavus is perfectly suited to help Thales address the growing needs of an increasingly connected global ecosystem. The company has built a recognised industrial “big data” platform particularly adapted to real-time analytics and designed to be easily implemented across
