B/E Aerospace announced its first quarter 2016 financial results and raised its full year guidance. First quarter 2016 revenues of US$716.7m and operating earnings of US$129.4m increased 4% and 3%, respectively, as compared with the prior year period. Operating margin was 18.1 percent. Net earnings and net earnings per diluted share were US$82.6m representing increases
Finnair has secured financing for its fourth Airbus A350-900 XWB, delivered in March 2016. The transaction amounts to approximately €115m, implemented using a Japanese Operating Lease with Call Option (JOLCO) structure arranged by Credit Agricole. The transaction relates to Finnair’s ongoing long-haul fleet renewal program, which currently consists of 19 new Airbus A350-900 XWB aircraft
Southwest Airlines reported its first quarter 2016 results, with net income, excluding special items, of US$567m compared with first quarter 2015 net income, excluding special items, of US$451m. The airline posted first quarter GAAP net income of US$511m compared with first quarter 2015 GAAP net income of US$453m and first quarter GAAP operating income of
Safran has reached an agreement to sell Morpho Detection, a US-based subsidiary of Safran, and other detection related activities to Smiths Group for an enterprise value of US$710m. Headquartered in Newark, California, Morpho Detection provides solutions for detecting and identifying chemical, biological, radiological, nuclear and explosive threats as well as other illicit items to improve
Alaska Air Group reported record first quarter net income, excluding special items, of US$183m, a 23% increase over the first quarter of 2015. Adjusted diluted earnings per share of $1.45 was a 29% increase over the first quarter of 2015. This quarter’s results exceed First Call analyst consensus estimate of $1.42 per share. Alaska posted
For the first quarter of 2016, total revenue was US$8.2bn, a decrease of 4.8% year-over-year. First-quarter 2016 consolidated passenger revenue per available seat mile (PRASM) decreased 7.4% and consolidated yield decreased 6.1% compared to the first quarter of 2015. The decline in PRASM continues to be driven by economic factors including a strong U.S. dollar
BOC Aviation has issued US$750m 10-year fixed rate Rule 144A/Regulation S senior unsecured notes due 2026. The transaction was issued under BOC Aviation’s US$5bn Global Medium Term Note Program. The joint bookrunners for the issue were BOC International, Citigroup, Goldman Sachs, The Hongkong and Shanghai Banking Corporation Limited, J.P. Morgan, Morgan Stanley, BNP Paribas and
In the first half of its 2015/2016 fiscal year, Zodiac Aerospace generated revenue of €2,489.1m, up 7.1% in reported data, down 1.7% in organic terms. Changes in consolidation had a positive impact of 0.2 percentage points on first-half growth, while foreign exchange contributed a positive 8.6 points. Current Operating Income before IFRS 3 was €80,4m,
Waypoint Leasing (Ireland), an independent global helicopter leasing company, has closed on a US$100m term loan facility led by Lombard North Central. The facility has a maturity of approximately six years and provides for USD, EUR and GBP funding capacity on a delayed draw basis. The company will use the proceeds of this transaction to
Singapore Technologies Engineering reported that its aerospace arm has secured new contracts worth US$443m in the first quarter (1Q) of 2016, for projects ranging from airframe maintenance and cabin interiors, to engine wash, and component repair and overhaul. The 1Q2016 value has taken in Elbe Flugzeugwerke’s new orders for the first time, following the completion
