Tennenbaum Capital Partners released that certain of its funds have agreed to provide a US$100m engine financing facility to Mesa Air Group, a leading regional airline. The facility will be used to purchase a portfolio of new General Electric CF34-8C5 engines and will provide Mesa with additional financing capacity to support its growing business. “We
B/E Aerospace announced its full year and fourth quarter 2016 financial results. Full year 2016 revenues of US$2.9bn increased 7.4% as compared with the prior year. Full year 2016 bookings were approximately US$3.3bn and the book-to-bill ratio was 1.1 to 1. The Company’s 2016 full year and fourth quarter results include after-tax charges totaling approximately
The SIA Group reported an operating profit of S$293m in the third quarter of the 2016-17 financial year, S$5m higher compared to the same period last year (+1.7%). Group revenue fell S$97m year-on-year to S$3,844m (-2.5%), mainly attributable to lower passenger flown revenue in a weak-yield environment. The Parent Airline Company saw its flown revenue
Alaska Air Group reported net income for the fourth quarter and full year under Generally Accepted Accounting Principles (“GAAP”) of US$114m and US$814m respectively. These results compared to fourth quarter 2015 net income of US$191m and full year 2015 net income of US$848m. Fourth quarter net income, excluding special items, was US$193m, a 4% increase
The Government of Canada is committed to keeping Canada at the forefront of global leadership in the aerospace sector. The aerospace industry is one of the most innovative industries in Canada, and it provides over 211,000 quality jobs for Canadians and CA$28bn annually in GDP to Canada’s economy. That is why, today, the Government of
WestJet released its fourth quarter and year-end results for 2016, with full-year net earnings of CA$295.5m. This compares with the net earnings of CA$367.5m reported in the full-year 2015. The airline achieved its 47th consecutive quarter of profitability, reporting fourth quarter net earnings of CA$55.2m compared to CA$63.4m reported in the fourth quarter of 2015.
Spirit Airlines reported fourth quarter and full year 2016 financial results. GAAP net income for the fourth quarter 2016 was US$48.5m or US$53.9m, excluding special items. GAAP net income for the full year 2016 was US$264.9m, or US$291.0m, excluding special items. For the fourth quarter 2016, Spirit’s total operating revenue was US$578.4m, an increase of
Ryanair reported that third quarter profits fell 8% to €95m, as average fares fell by 17% to just €33 per passenger, while traffic grew 16% to 29m customers. Third quarter unit costs were cut by 12% (ex-fuel unit costs were down 6%). Outlook for the remainder of FY17 is cautious. Ryanair expects fourth quarter yields
Net sales for the fiscal third quarter of 2017 declined 8% from the prior year quarter net sales, including US$1.2m of incremental sales from the October 2015 acquisition of Fairchild Controls offset by US$4.5m of revenues related to the second quarter divestiture. On an organic basis, sales were down 7% primarily due to production rate
The Group posted a profit attributable to owners of the parent of S$52.6m for the third quarter of FY2016-17, an increase of S$3.2m or 6.5%. Profit this quarter included a S$2.3m gain on the partial disposal of an associated company, while the same quarter last year was impacted by provisions for closure costs and impairment
