Desser, a leading provider of aviation parts and services to OEM and aftermarket customers, has announced the acquisition of Rotable Repairs, one of UK’s leading providers of wheel and brake MRO services for corporate and jet transport markets. Rotable Repairs is headquartered at London’s Southend Airport, and is readily poised to serve Europe, the Middle
The Federal Aviation Administration (FAA) will award US$151.1m in airport infrastructure grants to 66 airports in 35 states across the United States as part of the FAA’s Airport Improvement Program (AIP). The airport grant program funds various types of airport infrastructure projects, including runways, taxiways, and airport signage, lighting, and markings, all of which help
Following the good performance in the summer months Finnair raises its guidance for 2017 regarding its comparable operating result and specifies its capacity forecast for 2017. Finnair estimates that in 2017 its capacity will grow approximately 9%, weighted strongly towards the second half of the year. Full-year revenue is expected to grow approximately in line
United Technologies, the jet-engine maker, has agreed to buy Rockwell Collins, the aircraft parts manufacturer, for US$30 billion, including any debt. It has also been confirmed that the Rockwell Collins and UTC aerospace systems operations will be merged to create a new business unit, Collins Aerospace Systems. The basis of the deal will see Rockwell
The Air France-KLM (the Company) Combined Ordinary and Extraordinary Shareholders’ Meeting was held on Monday, September 4, in order to implement part of the strategic transactions presented on July 27, 2017. More than 54.85% of the shareholders were present or represented at the Shareholders’ Meeting, where all proposed resolutions were adopted, together with a new
Avolon, the international aircraft leasing company, has reported that the Kroll Bond Rating Agency (Kroll) has issued an investment grade issuer credit rating on Avolon Holdings Limited of BBB+ with a stable outlook. Kroll has also assigned a senior unsecured debt rating of BBB to Avolon Holdings Limited.
Earlier this week shares in AirAsia fell by 1% on the release of disappointing Q2 net returns, with a 60% drop in net profit compared to Q2 2016. Th is result was mainly due to higher operating costs, predominantly 60% higher staff costs and 82% higher aircraft fuel expenses. Despite this result, the Kuala Lumpur-based
DVB, the specialist in international transport finance, reported a consolidated net loss before taxes of €506.3m in the first six months of 2017 (previous year: net income of €14.1m). The net figure was dominated by a significant increase in allowance for credit losses, to €445.3m (previous year: €83.4m), reflecting market developments. Moreover, due to the
German aviation bank DVB Bank has disclosed the completion of a secured financing facility for Ping An Aircraft Leasing. The facility is for a new Airbus A350-900 delivered by Ping An to Vietnam Airlines under a sale-and-leaseback transaction in August 2017. Ping An Aircraft Leasing is an Irish subsidiary of Shanghai-based lessor Ping An International
BOC Aviation has reported its unaudited results for the six months ended June 30, 2017. Total revenues and other income rose 16% to US$670m. Net profit after tax was US$240m, an increase of 13% over the first half of 2016. Total assets increased 7% to US$14.4bn as at June 30, 2017 from 31 December 2016.
