During Brazil’s third round of airport privatizations decided at a public auction in Sao Paulo today, Fraport AG scored a double win by placing the top bids of 1,505.75m Reais (about €446.81m) for Fortaleza Airport and 382.01m Reais (about €113.36m) for Porto Alegre Airport. As a result, Fraport emerged victorious against strong international competition vying
Security issues severely hit the Turkish tourist industry in general in 2016, and Turkish Airlines in particular. Having posted a profit of US$682 million in 2015, 2016 revenue dropped 6.9 percent to US$9.8 billion, while operational expenses rose 3.1 percent to US$10.14 billion, resulting in an overall net loss of US$77 million. At the beginning
Willis Lease Finance Corporation has reported pretax earnings for 2016 of US$23.9m, up 87.4% from US$12.8m in 2015, on record revenue of US$207.3m. Net income attributable to common shareholders for 2016 was US$13.8m compared to US$6.5m in 2015. Fourth quarter 2016 net income attributable to common shareholders was US$2.4m, compared to US$3.0m in 2015. Fourth
The HAECO Group reported an attributable profit of HK$975m in 2016. The profit included a gain of HK$805m on disposal of the interest of Hong Kong Aero Engine Services Limited (HAESL) in Singapore Aero Engine Services Limited (SAESL) and an impairment charge of HK$285m in respect of the goodwill recorded on the acquisition of TIMCO
CIT Group, a provider of commercial lending and leasing services, has reached an agreement to sell its 30% ownership stake in the commercial aircraft leasing joint ventures TC-CIT Aviation Ireland and TC-CIT Aviation U.S., to its joint venture partner Tokyo Century Corporation (TC). The share purchase is expected to close on or prior to March
B/E Aerospace stockholders voted in favor of the proposal to adopt the previously announced Agreement and Plan of Merger, dated October 23, 2016 by and among B/E Aerospace and Rockwell Collins, at a special meeting of stockholders held on March 9, 2017. At the special meeting, approximately 99% of all votes cast, which represents approximately
FL Technics, a global provider of one-stop-shop aircraft maintenance, repair and overhaul services, has announced its yearly business review, displaying a stable, over 20% growth in revenues as well as continuing service and geographical diversification. Bouncing back from bankruptcy of a major client and a financial backdrop in the year 2015, FL Technics has managed
Aéroports de Montréal (ADM) posted consolidated operating results for the fiscal year ended December 31, 2016 . Consolidated revenues amounted to CA$527.2m for fiscal 2016, an increase of CA$38.7m, or 7.9%, over 2015. This improvement is attributable on the one hand to the growth of passenger traffic and carriers’ operations, and on the other to
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
