WestJet reported its 44th consecutive profitable quarter with first quarter 2016 net earnings of CAD$87.6m, compared with quarterly net earnings of CAD$140.7m reported in the first quarter of 2015, down 37.7%. Revenues were CAD$1,031.4 in the first quarter, compared to CAD$1,083.5 in the first quarter 2015, down 4.8%. WestJet achieved an on-time performance rate of
West Star Aviation has successfully reached an investment partnership with Norwest Equity Partners (NEP), a leading middle market investment firm. Norwest has made a significant investment in West Star Aviation, one of the largest and fastest growing independent providers of Maintenance, Repair, and Overhaul (MRO) and related services to the business aviation industry. The transaction
International Consolidated Airlines Group (IAG) presented Group consolidated results for the three months to March 31st, 2016. IAG reported first quarter operating profit of €155m before exceptional items (2015: operating profit of €25m), excluding Aer Lingus €181m. Passenger unit revenue for the quarter was down 3.5% and at constant currency down 4.7% (excluding Aer Lingus
Spirit AeroSystems reported first quarter 2016 financial results driven by strong operating performance of mature programs. Spirit’s first quarter 2016 revenues were US$1.7bn, down 3% compared to the same period of 2015. Operating income for the first quarter of 2016 was $267 million, compared to US$235m in the first quarter of 2015. Net income for
In the first quarter of 2016, Embraer delivered 21 commercial and 23 executive (12 light and 11 large) jets, representing an increase of 38% in total deliveries compared to the first quarter 2015. The Company’s firm order backlog ended the quarter at US$21.9bn, compared to US$20.4bn at the end of the first quarter 2015 and
Air Canada reported first quarter 2016 record EBITDA of CAD$460m compared to EBITDAR of CAD$442m in the same quarter in 2015. For the 12 months ended March 31, 2016, Air Canada’s EBITDAR margin was 18.3%. Air Canada recorded adjusted net income of CAD$85m, compared to adjusted net income of CAD$122m in the first quarter of
Avolon, the international aircraft leasing company, issued an update for the first quarter of 2016 (‘Q1’). Following its acquisition by Bohai Capital in early January 2016, Avolon’s total owned, managed and committed fleet at 31 March, 2016 was 402 aircraft. Avolon is the core aircraft leasing brand for Bohai Capital and its parent, HNA Group.
Airbus Group revenues were stable at €12.2bn (Q1 2015: €12.1bn). Despite lower deliveries of 125 aircraft (Q1 2015: 134 aircraft), revenues were stable at Commercial Aircraft supported by the strengthening average U.S. dollar rate. Helicopters’ revenues declined 10 percent, reflecting lower deliveries of 56 units (Q1 2015: 62 units) and an unfavourable mix. Group EBIT
In the first quarter of 2016, MTU Aero Engines AG generated revenues of €1,097.9m (1-3/15: €1,099.5m). The group’s operating profit was up 34% to €131.3 million (1-3/15: €97.7m). The EBIT margin was 12.0%, or 3.1 percentage points higher than for the same period in the previous year. Earnings after tax increased in line with operating
Air Partner, the global aviation services group, reported results for the year ended, January 2016. Underlying PBT of £4.3m, an increase of 64%, underlying EPS of 29.7p, an increase of 7%, lower than the increase in underlying PBT due to non-recurrence of last year’s credits and a non-recurring US tax item. Excluding this, underlying EPS
