AirAsia and CAE, a global leader in training for the civil aviation, defence and security, and healthcare markets, have concluded a sale and purchase agreement concerning the Asian Aviation Centre of Excellence (AACE), which is currently a 50:50 CAE-AirAsia joint venture. The transaction of US$100m (including earn-out) will give CAE full control over AACE’s three
Qantas has reported an Underlying Profit Before Tax of A$1,401m and a Statutory Profit Before Tax of A$1,181m for the 12 months ended 30 June 2017. The underlying result represents the second highest performance in Qantas’ 97 year history, down 8.6 per cent compared with last year’s record. It is slightly above the guidance range
HEICO Corporation has reported that net income increased 9% to US$45.7m in the third quarter of fiscal 2017, up from US$42.0m in the third quarter of fiscal 2016. In the first nine months of fiscal 2017, net income increased 18% to US$132.3m up from US$111.9m in the first nine months of fiscal 2016. Operating income
Morten Beyer & Agnew (mba) was retained by Sky Aviation Leasing International to provide Aircraft Appraisals, Maintenance Cash Flow Modeling, and Commercial Industry Analysis for debt issued by S-JETS 2017-1. The Asset Backed Securitization (ABS) portfolio consists of twenty-one assets, containing a mix of narrowbody and widebody aircraft, currently on lease to sixteen airlines spanning
Platinum Equity has signed a definitive agreement to acquire global aerospace and defense supply chain provider Pattonair from Exponent Private Equity. Financial terms of the transaction were not disclosed. The transaction is expected to close during the fourth quarter of 2017. Headquartered in Derby, UK, Pattonair is a leading global supply chain provider boasting a
Dubai Aerospace Enterprise (DAE) has completed the previously announced acquisition of the AWAS group of companies. The acquisition of AWAS propels DAE into the top tier of global aircraft lessors. DAE will now conduct its aircraft leasing business using the DAE Capital brand name. DAE Capital now features an owned, managed and committed fleet of
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
