Darwin Airline SA, the Swiss airline that operates under the name “Etihad Regional” in various European countries, announced a change in ownership. The existing shareholders, including Darwin’s strategic partner Etihad, have agreed to sell their shares to a new Swiss subsidiary of Adria Airways. The Slovenian carrier is the leading regional airline in Southeastern Europe
Finnair reported that revenues for the 2nd quarter increased by 11.2% year-on-year to €633.4m compared to €569.6m in the previous year. Available seat kilometres (ASK) grew by 6.8% and comparable operating result was €37.5m compared to €3.2m in the second quarter 2016. Operating result was €89.1m including i.a. sales gain on an A350 aircraft. Comparable
United Airlines (UAL) has released its second-quarter 2017 financial results. UAL reported second-quarter net income of US$818m, pre-tax earnings of US$1.3bn and pre-tax margin of 12.7%. Excluding special charges, UAL reported second-quarter net income of US$846m, pre-tax earnings of US$1.3bn and pre-tax margin of 13.2%. For the second quarter of 2017, revenue was US$10.0bn, an
Based on preliminary figures, Deutsche Lufthansa AG generated revenues of €17.0bn in the first half of 2017 (Q1 & Q2 2016 €15.0bn). The Adjusted EBIT came to €1,042m (2016 period: €529m). The passenger airlines achieved a cumulative Adjusted EBIT of €680m (2016 period: EUR 352m). Unit revenues at constant currency were up 0.5 per cent
AerCap Holdings N.V. (the Company) has reported that AerCap Ireland Capital Designated Activity Company and AerCap Global Aviation Trust (together, the Issuers), each a wholly-owned subsidiary of the Company, priced their offering of senior notes, consisting of US$1.0bn aggregate principal amount of 3.65% Senior Notes due 2027 (the Notes). The Notes will be fully and
Nordic Aviation Capital (NAC) has successfully closed a US$350m Unsecured Syndicated Revolving Credit Facility (RCF). The initial credit facility was arranged by Citi Global Transportation Banking and was supported by BNP Paribas, Crédit Agricole, and Deutsche Bank. The RCF has a 3-year term, and the proceeds will be used to refinance aircraft as well as
Morten Beyer & Agnew (mba) was retained by Castlelake, (Castlelake) to provide Aircraft Appraisals, Maintenance Cash Flow Modeling, and Commercial Industry Analysis for debt issued by Castlelake Aircraft Structured Trust 2017-1 (CLAS 2017-1). The ABS portfolio consists of forty-three (43) assets, containing a mix of narrowbody and widebody aircraft, currently on lease to fifteen (15)
Norwegian (NAS) has reported its second quarter results for 2017. The pre-tax result (EBT) was NOK861m (£80.5m). This is slightly down from last year’s result, mainly due to higher oil prices and the air passenger tax implemented by the government in Norway last year. The overall performance was positive in all of Norwegian’s main markets
Stellwagen Finance has closed a Pre-Delivery Payment (PDP) financing facility for AWAS relating to five Boeing 737 Max 8 aircraft expected to be delivered to the lessor via a purchase leaseback transaction with one of its valued airline customers. Stellwagen Finance was the sole arranger sourcing funds from institutional investors for the facility. Simon Glass,
Environmental Tectonics Corporation (ETC) has reported its financial results for the thirteen week period ended May 26, 2017 (the 2018 first quarter). Net income attributable to ETC was US$0.1m in the 2018 first quarter, compared to a net loss attributable to ETC of US$0.5m during the 2017 first quarter. The US$0.6m variance is due to
