The Regional Express (Rex) Group has announced a quadrupling of profits for Financial Year 2017 (FY17). Rex announced a statutory profit before tax (PBT) of AU$17.8m on a turnover of AU$281m. This represents a quadrupling of the operational PBT of AU$4.3m recorded for the previous FY. Rex’s statutory profit after tax was AU$12.6m for FY17.
On Friday August 25, the Qantas Group released preliminary results for the full 2017 Financial year ending June 30, and the underlying profit was the second-highest in the company’s history at AU$1,401bn before tax. This figure was down 8.6% on last year’s record figures, but was higher than anticipated, thanks to the strengthening of its
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
