FLY is reporting a net loss of US$63.8m for the fourth quarter of 2016. The loss is primarily driven by a US$92m non-cash impairment charge taken on three older, out-of-production wide-body aircraft. In the fourth quarter of 2015, FLY reported net income of US$19.1m. The net loss for the year ended December 31, 2016 was
In the fourth quarter 2016 Embraer delivered 32 commercial and 43 executive (25 light and 18 large) jets. The Company ended 2016 with 108 total commercial aircraft deliveries and 117 executive (73 light and 44 large) jet deliveries, both meeting their respective Guidance for 2016. Revenues in the fourth quarter reached US$ 2,027.8m and for
Argos Soditic, the European lower mid market private-equity firm, has entered into exclusive negotiations to acquire an ownership position along with Olivier Legrand and Christian Grzanka in Revima Group, a leading independent aerospace Maintenance, Repair and Overhaul service provider, primarily focused on Auxiliary Power Unit & Landing Gear products. The transaction, subject to customary authorizations,
HEICO Corporation reported that its Flight Support Group has signed an agreement to acquire 80.1% of the operating units of Air Cost Control (A2C). A2C’s founders, Laurent and Laure Parelle will continue to own 19.9% of A2C. The purchase price and financial details were not disclosed. HEICO stated that it expects the acquisition to be
West Star Aviation has announced its acquisition agreement with Avant Aerospace, a leading supplier of Dassault Falcon Jet spares and equipment located in Grapevine, TX. Avant Aerospace has established a great reputation since 2001 for the acquisition and supply of top quality Dassault Falcon spares, equipment and tooling in support of F2000, F900 and F50
AeroCentury, an independent aircraft leasing company, reported 2016 earnings were US$1.2m compared to 2015 earnings of US$6.4m. “AeroCentury made investments in leased assets totaling US$69m in the third quarter of 2016, the impact of which we are now seeing in the form of increasing operating lease revenue,” said Michael G. Magnusson, Chief Executive Officer. Operating
Air Transport Services Group reported consolidated financial results for the quarter and full year ended December 31, 2016. Revenues increased 24% to US$768.9m for the year, and were up 22% to US$221.7m for the quarter. Excluding revenues from reimbursable airline expenses, revenues increased 18% for the year and 17% for the quarter. Principal contributors were
Aircastle Limited reported that it plans to offer an aggregate of US$500m principal amount of its senior notes due 2024. Aircastle plans to use the net proceeds of the offering for general corporate purposes, which may include the acquisition of aircraft or the refinancing of its existing indebtedness.
Aeroflot Group has published audited financial accounts for the year ending 31st December 2016 which reveal a net profit of RUB 63,254 million for the Russian flag-carrying airline and member of the Sky Team alliance. Revenue increased by 19.4% year-on-year to RUB 495,880 million; EBITDAR amounted to RUB 137,567 million, up 33.4% year-on-year, while EBITDAR
Air Lease Corporation announced the pricing on March 1, 2017 of its public offering of US$500m aggregate principal amount of 3.625% unsecured senior notes due 2027. The Notes were offered to the public at a price of 98.241% of their face amount. The sale of the Notes is expected to close on March 8, 2017,
