Kapco Global reported its recent acquisition of German battery distribution company D+C-Airparts Battery in Europe GmbH. With more than thirty-years as a trusted supplier, service center, and battery training facility, D+C-Airparts is one of the most respected names in European aviation battery distribution and maintenance. This acquisition will help Kapco Global further expand its service
Despite earlier warnings, easyJet, the low-cost carrier, has posted a pre-tax loss of £212 million for the six months up to the end of March. The loss has been attributed to the weaker pound and a late Easter. EasyJet pays for its fuel in US dollars, which increases the price when the pound is weak
Copa Holdings, S.A. released its financial results for the first quarter of 2017 (1Q17). Copa Holdings reported net income of US$102.3m for 1Q17 compared to net income of US$115.5m in 1Q16. Excluding special items, the Company would have reported an adjusted net income of US$103.2m, compared to an adjusted net income of US$69.9m in 1Q16.
Willis Lease Finance has reported that pretax income grew 104% to US$14.4m in the first quarter of 2017 compared to US$7.1m in the first quarter of 2016 on revenues of US$77.9m. The Company’s first quarter 2017 results were bolstered by US$32.0m of maintenance reserve revenue, of which US$21.5m was long term maintenance revenue related to
Bombardier reported its first quarter 2017 results. Bombardier reported revenues of US$3.6bn and EBIT before special items was US$128m. EBIT margins before special items grew to a robust 8.0% at Transportation, 7.6% at Business Aircraft and 7.5% at Aerostructures, while Commercial Aircraft recorded an EBIT loss in line with the prior year. Free cash flow
DVB Bank Group (DVB), the specialist in international transport finance, reported a consolidated net loss before taxes of €83.8m in the first quarter of 2017 (previous year: net income of €25.9m). This was heavily influenced by a negative net result from financial instruments in accordance with IAS 39 (€-61.3m). Furthermore, reflecting market developments, additional allowance
Aergo Capital has successfully closed a warehouse facility with Investec Bank to finance aircraft transactions. The facility will be used to raise senior debt against on-lease commercial aircraft still to be acquired. Commenting on Aergo’s financing activities, Stan Barnes, Chief Financial Officer of Aergo Capital, said, “We are delighted to diversify Aergo’s funding sources through
Vice Chairman of the Board and Chief Executive Officer of ALAFCO Aviation Lease and Finance Company, Ahmad A. Alzabin, announced that the company recorded a net profit of KD 10.8 million (US$ 35.4m) for the first half of the financial year ending 30th September 2017 – a 78% increase from the same period of the
Norwegian’s leasing platform Arctic Aviation Asset closed a PDP financing for four B787-9 aircraft on May 3, to be delivered in the fourth quarter of 2017 and first quarter of 2018. DVB is the arranger and lender of the PDP financing providing a revolving credit facility. Pillsbury is the legal advisor for DVB and Hogan
Air Canada reported first quarter 2017 EBITDAR, excluding special items, of CA$342m, compared to first quarter 2016 EBITDAR of CA$460m. The airline recorded a first quarter EBITDAR margin of 9.4%, better than the margin projected in Air Canada’s February 17, 2017 news release. On a GAAP basis, Air Canada reported an operating loss of CA$54m
