During the first three months of 2016, DVB Bank generated consolidated net income before taxes of €25.9m compared to €84.3m in the first quarter 2015. DVB originated 27 new transactions in its core Transport Finance business, with an aggregate volume of €1.2bn (Q1 2015: 51 new transactions with a total volume of €1.7bn). Whilst the
Finnair reported that revenue grew by 2.9% in the first quarter of 2016 to €536.4m (2015 €521.3m). Operating result was €-15.3m (2015 €-28.4m). EBITDAR was €36.4m (2015 €19.2m). Net cash flow from operating activities stood at €10.4m (2015 €13.0m), and net cash flow from investing activities totalled €-247.3m (2015 €142.8).
Transat A.T., one of the worlds largest integrated tourism companies and Canada’s holiday travel leader, has received a firm offer from TUI AG to purchase its Transat France and Tourgreece tour operating business units for an enterprise value of €54.5m, subject to working capital adjustments at closing. On that basis, Transat has granted exclusivity to
AeroCentury, an independent aircraft leasing company, reported first quarter 2016 earnings of US$434,000 compared to US$752,000 for the first quarter of 2015 and US$3.1m for the fourth quarter of 2015. The earnings reported for the first and fourth quarters of 2015 included US$1.9m and US$6.3m, respectively, in pretax gains on the sale of assets. Average
Virgin Atlantic completed the closing of its first JOLCO (Japanese Operation Lease with Call Option) financing at the end of April. The aircraft, a Boeing 787-9, was delivered to the UK’s second largest long-haul carrier in December 2015 and subsequently financed with a JOLCO arranged by FPG AIM and with the equity arranged and underwritten
Michael O’Leary, Ryanair’s chief executive has revealed that a combination of the tragic bombing incident at Brussel’s Zaventem Airport, combined with air traffic control strikes would likely see a hole of between €10m and €20m created in the airline’s year-end profits for 2016. Ryanair is not the only airline to openly admit to the effect
Aircastle reported first quarter 2016 results with total revenues of US$183.7m, a decrease of US$10.6m, or 5% from the previous year, driven by a US$16.8m decrease in maintenance revenues. During the first quarter of 2015, Aircastel recorded US$18.1m of maintenance revenue, primarily from two scheduled lease expirations with significant return compensation payments. Adjusted EBITDA for
In the first quarter of 2016, some 13 million passengers passed through Frankfurt Airport (FRA), representing an increase of 3.3 percent year-on-year. On the back of that growth, Fraport achieved higher revenue from airport and infrastructure charges as well as from aircraft handling. Simultaneously, net retail revenue per passenger declined from €3.93 to €3.62 on
Total revenues for the Lufthansa Group in the first quarter of 2016 declined by 0.8% to €6.9bn. Despite significantly higher passenger volumes, traffic revenue was 3.9% down, a reflection of the substantial pricing pressures faced by the Group’s passenger airlines and the cargo business. The leading financial performance indicator of the Group’s business success –
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
