Lufthansa Group reported that net result for the first half of 2016 amounted to €429m (prior year: €954m), slightly below the prior-year result excluding one-off effects. In the first quarter 2015, the result included a positive effect amounting to €503m from the early conversion of the JetBlue convertible bond. First-half cash flow from operating activities
GE Capital Aviation Services (GECAS), the commercial aircraft leasing arm of GE, announced a US$280m, 10.5 year term, Senior Debt agreement with Aerolíneas Argentinas. The debt is secured by four A330-200s powered by GE’s CF6 engines and three B737-800s powered by CFM56 engines. The four A330s are scheduled to fund in 2016 and the three
C&L announce a new, US$3m expansion to its facility in Bangor. The project, supported in part by a US$1.2m grant from the United States Economic Development Administration that was recently awarded to the City of Bangor, will refurbish a newly leased hangar, add two new buildings, increase capabilities and create 100 additional jobs over the
For first-half 2016, Safran’s revenue was €8,936m, up 6.3%, compared to €8,403m in the same period a year ago. This €533m increase reflects growth in Aerospace (propulsion and equipment) and in Security. On an organic basis, Group revenue increased by 6.5%, or €547m. Organic revenue was determined by applying constant exchange rates and by excluding
Fraport AG Frankfurt Airport Services Worldwide (Fraport AG) and its consortium partners at Pulkovo Airport reached an agreement to sell part of their shares in Thalita Trading (Thalita) to Qatar Investment Authority (QIA). Thalita is the parent company of Northern Capital Gateway consortium, which has the 30-year concession for operating Pulkovo Airport (LED) in St.
In 2Q16, Embraer delivered 26 commercial and 26 executive (23 light and 3 large) jets. The Company’s firm order backlog ended the quarter at US$21.9bn, compared to US$22.9bn at the end of 2Q15 and US$21.9bn in backlog at the end of 1Q16. Revenues in 2Q16 were US$1,366.4m, representing a decline of 9.7% from the same
Air Canada reported second quarter 2016 EBITDAR of CAD$605m compared to the previous record EBITDAR of CAD$591m in the same quarter in 2015. EBITDAR in the second quarter of 2015 included a special item which improved EBITDAR by CAD$23mn. Air Canada recorded adjusted net income of CAD$203m compared to adjusted net income of CAD$250m in
FLY Leasing is reporting net income of US$4.7m for the second quarter of 2016, compares to a restated net loss of US$43.7m for the same period in 2015. Net income for the six months ended June 30, 2016 was US$11.8m. For the same six month period in 2015, there was a restated net loss of
Palm Beach Capital, through one of its investment entities, announced the sale of CTS Engines, jointly owned by Palm Beach Capital and CEO Brian Neff, to Platte River Equity, and management, including Mr. Neff. CTS is headquartered in Fort Lauderdale, Florida with testing operations in Jupiter, Florida. The Company provides a full spectrum of maintenance,
A US$2.1bn charge for R&D is predominantly responsible for a massive swing in Q2 operating profit for Boeing between 2015 and 2016, though consolidated revenue was up 0.9% year-on-year (YOY) at US$24.76m. Prior to the R&D charge the Q2 operating profit for 2016 was US$2.43bn, which, YOY, was down 23.9%. The company has reported a
