AAR has reported third quarter Fiscal Year 2017 consolidated sales of US$446.7m and income from continuing operations of US$13.1 million. For the third quarter of the prior fiscal year, the Company reported sales of US$412.1m and income from continuing operations of US$9.9m. Sales in Aviation Services increased 9.6% in the quarter reflecting continued strong performance
PPG (PPG) has made a revised proposal on March 20, 2017 to acquire Akzo Nobel for €90.00 (cum dividend) per ordinary share, comprised of cash of €57.50 and 0.331 share of PPG common stock. This represents an increase of €7.00 per ordinary share from PPG’s initial offer. Including the assumption of net debt and minority
National airline Garuda Indonesia and its subsidiaries maintained positive performance throughout 2016 with a net profit of US$9.36m, or the equivalent of IDR 124.5bn (exchange rate IDR 13.300 per US$), while carrying a total of 35 million passengers on both Garuda Indonesia and Citilink Indonesia. Referring to the performance review of the Asia Pacific aviation
Lufthansa Technik, headquartered in Hamburg, continued its track record for international growth in 2016 and produced a good result with significantly more investment. The increase in revenue with non-group companies overcompensated the decline in internal orders. Sales revenue climbed by €45m from €5.099bn to €5.144bn. The company achieved earnings before interest and tax (adjusted EBIT)
Burnham Sterling & Co., a financial advisory firm specializing in transportation assets, has acted as lead arranger and sole book runner in a privately placed transaction for Avianca, Latin America’s second largest airline, for three aircraft, including two Airbus A320 family and one Boeing 787. The transaction utilized the Enhanced Aviation Investment Vehicle (EAIV) private
HEICO Corporation reported that its Board of Directors approved a 5-for-4 stock split on both its Class A Common Stock and Common Stock. This announcement marks HEICO’s 15th stock split or stock dividend since 1995. The stock split will be effected in the form of a 25% stock dividend on each class of the Company’s
Aircraft Recycling International Limited (ARI) has acquired a 100% equity interest in Universal Asset Management (UAM), one of the leading global aviation services providers based in Tennessee, USA. UAM has nearly three decades of commercial and technical experience managing customers’ aviation assets, disassembling aircraft and supplying after-market components to the commercial aviation industry. With its
Avcorp Industries has entered into an agreement to extend its existing credit facilities with its current lender to US$58m, up from CAD$21m. The credit facility extension supports the Company’s recent efforts to re-structure operations, win long-term production contracts and strengthen its relationships with key customers. The current credit facilities will be extended in increments through
HNZ Group, an international provider of helicopter transportation and related support services, reported its financial and operating results for the fourth quarter and fiscal year ended December 31, 2016.Revenue increased by US$2.1m to US$50.9m in the fourth quarter of 2016, compared to US$48.8m a year ago, mainly as a result of increased revenue from the
The Lufthansa Group generated revenues of €31.7bn in 2016, a decline of 1.2% on the prior-year result. Adjusted EBIT for the year amounted to €1.7bn, a decline of 3.6%. This means that, as expected, earnings before strike costs of €100m came in at previous year’s level. The Adjusted EBIT margin for 2016 was 5.5%, a
