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
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
