Air Canada reported record full year 2016 EBITDAR, excluding special items, of CA$2.768bn, compared to the previous record of CA$2.542bn recorded in 2015, an increase of CA$226m or 8.9% and surpassing the 6 to 8% increase projected in its November 7, 2016 news release. On a GAAP basis, Air Canada reported operating income of CA$1.345bn
Lufthansa and pilots’ union Vereinigung Cockpit accepted the mediation recommendation of Dr. Gunter Pleuger on February 15, ending a long-running dispute over salaries. His recommendation contains the following key points: A pay increase for the 5,400 pilots in the Group tariff agreement of Lufthansa, Lufthansa Cargo and Germanwings in four stages amounting to a total
Singapore Technologies Aerospace (ST Aerospace) has incorporated a new company, Keystone 4 Limited (Keystone 4), in Ireland, as a wholly-owned subsidiary of Keystone Holdings (Global), (Keystone Holdings), with a paid up capital of US$1. Keystone Holdings is a 50-50 joint venture aircraft investment holding company between ST Aerospace Resources and SJ Aviation Capital. A holding
Finnair Group revenue increased by 2.8% year-on-year to €2,316.8m compared to €2,254.5m in 2015 with 6.5% ASK growth. Excluding the sold travel agencies, revenue growth was 3.2%. Comparable operating result was €55.2m compared to €23.7m in 2015. Operating result was €116.2m compared to €121.7m in 2015, including the sales gain on one Airbus A350 widebody
Rolls-Royce reported a net loss of £4.03bn (US$5.02bn) for the full year 2016. The pre-tax loss was £4.6bn, with underlying profit of £813m, down from 2015’s £1.43bn. The company reported revenue for 2016 of £14.96bn, up 9% from £13.72bn the previous year. In January 2017 Rolls-Royce had entered into Deferred Prosecution Agreements (DPAs) with the
Aircastle reported fourth quarter 2016 net income of US$67.7m and adjusted net income of US$70.5m. Net income for the year ended December 31, 2016 was US$151.5m and adjusted net income was US$168.5m. The fourth quarter results included lease rental revenues of US$191.7m, an increase of 3%, versus US$185.7m in the fourth quarter of 2015. For
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
