SkyWest reported financial and operating results for the fourth quarter of 2016, including a net loss of US$270m, compared to net income of US$41m for Q4 2015. Adjusted net income for Q4 2016 was US$29m, compared to adjusted net income of US$25m for Q4 2015. The adjusted results for Q4 2016 exclude (pre-tax) a US$466m
Falcon Aerospace Limited and Falcon Aerospace USA LLC (“Falcon 2017-1” or “Borrowers”) will issue US$410m of asset-backed secured term Loans. The Borrowers expect to use the proceeds to purchase 21 in-production, narrow-body aircraft. Dubai Aerospace Enterprise (DAE) will act as servicer for the transaction. Falcon 2017-1 will issue three tranches of asset-backed secured term loans:
Spirit AeroSystems reported fourth quarter and full-year 2016 financial results driven by strong operating performance of mature programs. Spirit’s fourth quarter 2016 revenue was US$1.6bn, down by two percent compared to the same period of 2015, primarily driven by lower production deliveries on the Boeing 747 and 777 programs, partially offset by higher activity on
Woodward has reported that its Board of Directors has authorized a new stock repurchase program, under which up to US$500m in Woodward shares may be purchased in the open market and private transactions. The new program is scheduled to expire in November 2019. The previous stock repurchase program, which was authorized for US$300m and scheduled
Dos Rios Partners, a Texas-based private equity firm, has acquired Pathfinder Aviation. Dos Rios partnered with Chuck Constant and Pete Henrikson of Phoenix Aviation Group of Dallas, TX and acquired Pathfinder from its founder and previous owner, Michael Fell. Chuck Constant and Pete Henrikson will lead the company as CEO and EVP of Operations, respectively.
American Airlines Group reported a net profit of US$289m in the fourth quarter 2016. The Company’s fourth quarter 2016 results include a US$211m provision for income taxes, of which US$207m is non-cash due to net operating loss utilization. This compares to a GAAP net profit of US$3.3bn in the fourth quarter 2015, which included a
Air Transport Services Group reported that its Adjusted EBITDA from Continuing Operations is expected to be approximately US$7m lower than indicated in its prior guidance for the fourth quarter and full year 2016. This reduction in guidance is due to the revenue loss resulting from a brief work stoppage in mid-November 2016 by pilots of
JetBlue reported operating income of US$296m in the fourth quarter and US$1.3bn for the full year, a decline of 10.4% from the fourth quarter of 2015 and a full year increase of 7.9% over 2015. The airline reported pre-tax income of US$274m in the fourth quarter and US$1.2bn for 2016, a decrease of 9.6% from
Southwest Airlines reported fourth quarter net income of US$522m compared with fourth quarter 2015 net income of US$536m. Excluding special items, fourth quarter net income was US$463m compared with fourth quarter 2015 net income of US$591m. Annual net income was US$2.24bn compared with 2015 net income of US$2.18bn. Excluding special items, annual net income was
BOC Aviation Limited has successfully renewed its Aircraft Leasing Scheme (ALS) for a five-year period to June 2022. The Company’s current ALS will expire in June 2017. The ALS is an incentive scheme under which income derived from aircraft leasing operations is taxed at a concessionary tax rate, rather than the prevailing corporate tax rate
