AAR reported second quarter fiscal year 2017 consolidated sales of US$423.8m and income from continuing operations of US$12.1m. For the second quarter of the prior fiscal year, the Company reported sales of US$431.5m and income from continuing operations of US$9.2m. Gross profit margins at Aviation Services were constant with prior year margins and improved at
FedEx reported earnings of US$2.59 per diluted share (US$2.80 per diluted share on an adjusted basis) for the second quarter ended November 30, compared to earnings of US$2.44 per diluted share a year ago (US$2.58 per diluted share last year on an adjusted basis). Operating income rose compared to last year primarily due to the
Chorus Aviation will establish a new regional aircraft leasing subsidiary, Chorus Aviation Capital, and has entered into an agreement pursuant to which Fairfax Financial Holdings Limited and certain of its subsidiaries will invest CAD$200m in Chorus through a private placement of 200,000 convertible debt units. In recent years, Chorus has steadily grown its aircraft leasing
Bombardier released its 2017 guidance and confirmed that its turnaround plan is on track. The announcement came ahead of Bombardier’s Investor Day event, where the Company will provide an update on its business outlook, highlight its 2016 accomplishments and reaffirm both its 2018 free cash flow breakeven goal and its 2020 revenue target of US$25bn.
Deutsche Lufthansa AG takes over 100% of Brussels Airlines to be fully integrated into the Lufthansa Group as of 2018 and joining the Eurowings Group. Attractive home markets Belgium and Brussels and well-established Africa network will further strengthen the Lufthansa and Eurowings Group market position. Advantageous cost-structure allowing Brussels Airlines to successfully compete with the
Cusco Aviation, an aircraft and engine trading, asset management and technical services company for the aviation industry, has retained DelMorgan & Co., an internationally recognized investment banking firm, as its exclusive financial advisor to advise Cusco Aviation on its strategic alternatives, including growth capital investments for the acquisition of aircraft lease portfolios from existing lessors
The Company reported sales of US$893m in the quarter compared with US$828m in the corresponding quarter of last year (a 7.9% increase) and a net loss of US$94m. The loss arises from a provision of US$162m for early retirement expenses for about 800 employees in the context of the growth agreement signed with the employee
Global aeronautical communications provider Satcom Direct (SD) has closed its purchase of TrueNorth Avionics, a manufacturer of cabin communications solutions. With the acquisition of TrueNorth complete, SD significantly expands its ability to provide advanced communications systems for VIP and VVIP aircraft. Ottawa, Canada-based TrueNorth Avionics designs, develops and manufactures satellite communications solutions for aircraft operators
Business aviation company Deer Jet has concluded the acquisition of major shares of UAS International Trip Support (UAS). Deer Jet has become the major shareholder of the global flight support solutions provider. The agreement was completed ahead of MEBAA Show 2016 on Monday, December 5 by UAS’ existing shareholders and Deer Jet Chairman and President
airberlin announced the sale of its share in NIKI to Etihad for a total consideration of €300m. The divestment marks an important milestone in the implementation of the company’s restructuring plan announced in September. The transaction is subject to regulatory approvals. Etihad will not majority own or effectively control NIKI. Stefan Pichler, CEO of airberlin:
