Rockwell Collins, a global leader in high-integrity solutions for aerospace and defense, and B/E Aerospace, a leading manufacturer of aircraft cabin interior products, have entered into a definitive agreement under which Rockwell Collins will acquire B/E Aerospace for approximately US$6.4bn in cash and stock, plus the assumption of US$1.9bn in net debt. Under the terms
Norwegian (NAS) reported its best quarterly results ever. The net profit was NOK 993m (£99m), an improvement of NOK 160m compared to the same quarter the previous year. The load factor was 91% and the performance was positive in all markets, with Spain boasting the strongest passenger growth. In the third quarter, Norwegian carried 8.6
Alaska Air Group reported third quarter 2016 GAAP net income of US$256m, compared to US$274m in the third quarter of 2015. Excluding the impact of merger-related costs and mark-to-market fuel hedge adjustments, the company reported record adjusted net income of US$272m compared to adjusted net income of US$277m in 2015.
American Airlines Group reported a GAAP net profit of US$737m in the third quarter 2016, this compares to a GAAP net profit of US$1.7bn in the third quarter 2015. As a result of the reversal of the valuation allowance on the Company’s deferred tax assets as of December 31, 2015, the Company’s 2016 results include
Alitalia has successfully completed a major IT system upgrade which is set to generate a substantial increase in additional revenues for the airline and improve customer service. The introduction of the new system is part of the overall business restructuring plan to place the airline on a sustainable commercial platform. All of Alitalia’s reservations, check-in
Ryanair, the Republic of Ireland-based low-cost carrier has lowered its profit forecast for the financial year 2016-2017 by 5% as a result of the continued impact of the UK’s decision to leave Europe. While the Republic of Ireland will remain in Europe, 26% of its income is in UK pounds sterling, a currency which has
L-3 Communications (LLL) has entered into an asset purchase agreement (APA) to acquire certain assets of Implant Sciences Corporation (Implant) for US$117.5m in cash, plus the assumption of specified liabilities. L-3 intends to finance the asset purchase using its existing cash on hand. Implant has recently entered into Chapter 11 Bankruptcy protection, and the consummation
Avolon Holdings, the international aircraft leasing company and a wholly owned subsidiary of Bohai Capital Holding, the equipment and transportation lessor, signed an agreement to acquire the aircraft leasing business of CIT Group. The Transaction will create a leading aircraft leasing business with an owned, managed and committed fleet of 910 aircraft valued at over
Air Canada has completed its previously announced private offering of CAD$200m of 4.75% senior secured first lien notes due 2023 (the “2016 Senior Notes”) and the closing of its previously announced U.S.$1.1bn new senior secured credit facility, comprised of a U.S.$800m term loan maturing in 2023, together with a new, undrawn U.S.$300m revolving credit facility
L-3 Communications reported the acquisition of Aerosim, including Aerosim Technologies, located in Burnsville, Minnesota, and Aerosim Flight Academy, located in Sanford, Florida. The acquisition was completed on September 30, 2016 and terms were not disclosed. Following the acquisition, Aerosim will be integrated into the L-3 Commercial Training Solutions (L-3 CTS) division of the company’s Electronic
