Air France-KLM posted a profit of €118m for the full year 2015, compared to a loss of €225m for the previous year. Turnover was €26.1bn, up 4.6% compared to €24.9bn in 2014. Fourth quarter 2015 results were affected by the November terrorist attacks in Paris, which were estimated to have cost Air France-KLM €120m, as
Aircastle has reported that it formed an aircraft leasing joint venture with IBJ Leasing (IBJL), a Japanese general leasing company which is part of Mizuho Financial Group. The joint venture, which will be serviced by Aircastle, will target investments in newer narrow-body aircraft leased to premier airlines. It is expected the joint venture will purchase
Air Canada reported full year adjusted net income of CA$1.222bn, compared to adjusted net income of CA$531m in 2014, an improvement of CA$691m. EBITDAR (earnings before interest, taxes, depreciation, amortization and aircraft rent) amounted to CA$2.534bn compared to EBITDAR of CA$1.671bn in 2014, an improvement of CA$863m. On a GAAP basis, Air Canada reported operating
ST Aerospace Resources has signed an agreement to divest 50% of its equity stake in Keystone Holdings (Global) to SJ Aviation Capital, a Singapore based subsidiary of Sojitz Corporation, for a consideration estimated to be US$10.7m. Upon completion, ST Aerospace Resources and SJ Aviation Capital will each own a 50% shareholding in Keystone Holdings. The
MTU Aero Engines AG closed the financial year 2015 with new records. Revenues reached a new high of €4,435.3m (2014: €3,913.9m) while the group’s operating profit climbed to €440.3m (2014: €382.7m), an increase of 15%. Earnings after tax beat the previous all-time record set in 2014, rising by 21% from €253.3m to €306.9m. The commercial
For 2015 Norwegian reported a net profit of 75 MNOK (£6m). The figure was heavily influenced by an unrealised loss on fuel hedging for 2016 and 2017, which makes up 800 MNOK. Adjusted for such unrealised hedging, the 2015 pre-tax results was 875 MNOK (£70m). This was a strong improvement compared to -1.168 MNOK the
Aircastle reported total revenues for the fourth quarter of US$208.3m, a decline of US$30.0m, driven by lower maintenance revenues, which typically arise at lease end. Maintenance revenues were US$37.1m lower due to fewer aircraft coming off lease during the fourth quarter of 2015, as compared to 2014 when we early terminated the leases of several
World Fuel Services Corporation (INT) released that a wholly-owned subsidiary of the company has signed a definitive agreement to acquire from certain ExxonMobil affiliates their aviation fueling operations at 83 airports in Canada, the United Kingdom, Germany, Italy, Australia and New Zealand. Further, an additional three locations in France are expected to be added to
Air Transport Services Group, Inc. (NASDAQ:ATSG) said that due primarily to better-than-expected results from its airline operations in the fourth quarter, its financial results for 2015 are likely to exceed management’s earlier guidance. ATSG now projects that its Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) from continuing operations, adjusted for unrealized effects of interest
DVB Bank, the leading international transportation finance specialist, and Challey Group, a wholly owned Irish subsidiary of Alitalia, Italy’s national airline, have announced the closing of a financing facility amounting to US$121m for the purchase of five aircraft. DVB Bank, the leading international transportation finance specialist, and Challey group, a wholly owned Irish subsidiary of
