B/E Aerospace reported its second quarter 2014 financial results. Second quarter 2014 revenues of $1.09bn increased 28.1% as compared with the prior year period. Second quarter 2014 operating earnings were $198.1m, an increase of 24.8%, and operating margin was 18.2%. On a GAAP basis, operating earnings were $185.3m. Second quarter 2014 earnings before income taxes
Rockwell Collins reported total sales for the third quarter of fiscal year 2014 were $1.26bn, an increase of 12% from the same period in 2013, primarily due to the acquisition of ARINC. Total segment operating earnings for the third quarter of fiscal year 2014 were $263m, an increase of $6m from the same period a
AAR, a leading, global aerospace and defense company, reported fourth quarter and full Fiscal Year 2014 consolidated results. Fourth quarter consolidated sales were $505.4m versus the prior year level of $553.8m. Sales in the Aviation Services segment declined 10% to $373.8m mainly due to softness at the Company’s MRO facilities and fewer expeditionary airlift flying
BOC Aviation has priced A$50m of 5.5-year fixed rate senior unsecured notes due 2020 (the “Notes”). The Notes represent an increase over the Company’s A$150m notes issuance priced on 14 July 2014 resulting in a final transaction size of A$200m. The transaction was arranged by Westpac Banking Corporation and issued off BOC Aviation’s US$5bn Euro
TRU Simulation + Training, a Textron company, has acquired ProFlight, a leader in innovative and advanced pilot training. Based in Carlsbad, Calif., ProFlight is an FAA-approved Part 142 training center specializing in Cessna Citation CJ Series training, Cessna Conquest Series training, and offers an innovative continuous currency program that provides pilots greater training flexibility and
BAE Systems announced a reorganisation of its portfolio of interests in a number of industrial companies in the Kingdom of Saudi Arabia and an enhancement of its existing relationship with Riyadh Wings Aviation Academy (Riyadh Wings). Through a number of transactions, the reorganisation will bring together shareholdings of the BAE Systems group and Riyadh Wings
GOL Linhas Aereas Inteligentes S.A., the largest low-cost and low-fare airline in Latin America, has closed a financing of US$68m with Credit Agricole Corporate and Investment Bank (“Ca-Cib”), guaranteeing 12 proprietary spare CFM56-7B engines, with the possibility of increasing an additional US$100m for future proprietary engine deliveries. The financing is over seven years at a
Waypoint Leasing, a leading global helicopter leasing company, has increased the committed borrowing capacity under its five year revolving credit facility from $335m in November 2013 to $468m as of June 30, 2014. The facility bolsters Waypoint’s ability to continue adding attractive and diversified helicopter assets to its fleet, which today includes over 40 aircraft
Triumph Group reported the completion of the previously announced acquisition of the hydraulic actuation business of GE Aviation. The acquired business will operate as Triumph Actuation Systems-Yakima and Triumph Actuation Systems- UK & IOM. The business is expected to add approximately $180m in annual revenue and to be immediately accretive to earnings. The purchase price
Alitalia and Etihad Airways have agreed the principal terms and conditions of a proposed transaction whereby Etihad Airways will acquire a 49% equity stake in Alitalia. The airlines will now move to finalise the transactional documents, that will include the agreed upon conditions, as soon as possible. The conclusion of the investment is subject to
