AerCap reported net income of US$225.6m, compared with US$293.9m for the same period in 2015. The company reported earnings per share (diluted) of US$1.22, compared with US$1.48 for the same period in 2015 and adjusted net income of US$310.6m, compared with US$327.0m for the same period in 2015. Adjusted earnings per share (diluted) of US$1.68,
BP announced the creation of a strategic partnership between its BP Ventures and Air BP businesses with Fulcrum BioEnergy, a pioneer in the development and production of low-carbon jet fuel, in which BP will invest US$30m. As an equity investor, BP has secured a 10 year offtake agreement with Fulcrum for 50 million US gallons
LOT has executed a strategic partnership agreement with the Estonian national carrier – Nordica, and is intending to take up 49% of shares in its subsidiary – Regional Jet, which operates a fleet of modern regional planes from the Bombardier CRJ family. Starting on the 19th of November, LOT will use its designator for all
Avolon, the international aircraft leasing company, has placed 35% of the US$8.5bn debt financing facilities, led by Morgan Stanley & Co. (Morgan Stanley) and UBS Investment Bank (UBS), for the acquisition of the aircraft leasing business of CIT Group Inc. Avolon successfully placed US$2.975bn with five banks: Barclays; JPMorgan Chase Bank N.A.; BNP Paribas; Credit
Apollo Aviation Group (“Apollo Aviation”) priced its third aircraft securitization on Friday, October 28, 2016: Apollo Aviation Securitization Equity Trust 2016-2 (AASET 2016-2). AASET 2016-2 will borrow US$640m of asset backed secured term loans that will be used to acquire a fleet of 35 aircraft. “With our third ABS and second in 2016, Apollo continues
Global Aviation Services (Global) has acquired D&D GSE Support(D&D) a leading ground support equipment maintenance provider, serving the Fort Lauderdale-Hollywood International Airport (FLL). The acquisition further enhances Global’s market position in South Florida and marks the company’s first acquisition. Global intends to pursue continued expansion by acquiring high quality GSE maintenance businesses across the country.
Garuda Indonesia, the national flag carrier, reported net income of US$19.6m or IDR254.8bn (exchange rate IDR 13,000 per USD) during the third quarter (July – September period) of 2016 as an outcome of the initial implementation of the ‘Sky Beyond’ strategy, with a focus on return maximization as well as the continuous proportional implementation of
Spirit AeroSystems reported third quarter 2016 financial results driven by strong operating performance of mature programs. During the quarter, Spirit purchased 7.4 million shares for US$332m, which concludes the current US$600m share repurchase program. Spirit’s third quarter 2016 revenue was US$1.7bn, up 7% compared to the same period of 2015, primarily driven by higher production
WestJet released its third quarter results for 2016, with net earnings of CAD$116.0m, as compared with net earnings of CAD$101.8m reported in the third quarter of 2015. WestJet achieved its 46th consecutive quarter of profitability and flew a record 5.9 million guests. Based on the trailing twelve months, the airline recorded a return on invested
During 3Q16, Embraer delivered 29 commercial jets and 25 executive jets (13 light and 12 large). The Company’s firm order backlog ended the quarter at US$21.4bn versus US$21.9bn in 2Q16. Revenues in 3Q16 grew 17.9% on a year-over-year basis to US$1,514.3m, driven by higher revenues in the Commercial Aviation and Defense & Security segments. Consolidated
