LATAM Airlines Group closed a 3-year senior secured revolving credit facility (“RCF” or, the “Facility”) in the amount of US$275m. This transaction is in line with the Company’s focus on maintaining adequate levels of liquidity considering the current volatile market conditions. The use of proceeds will be for general corporate purposes and to boost the
For the year ended 31st December 2015, the Virgin Atlantic Group is reporting a profit before tax and exceptional items of £22.5m. This represents an improvement of £10.1m on the previous year’s result when adjusted for IFRS reporting and is driven by growth at both Virgin Atlantic and Virgin Holidays. Virgin Holidays performed strongly and
Fort Worth-based Novaria Group announced the acquisition of substantially all the assets of Ferco Tech, L&E Engineering, and GGF Manufacturing. The three business units, collectively operating as Ferco Aerospace, supply the world’s largest aircraft engine manufacturers with high-strength and temperature-resistant brackets, tube assemblies, and other exotic metal fabrications. These acquisitions are highly complementary to Novaria’s
AAR reported third quarter fiscal year 2016 consolidated sales of US$402.8m and income from continuing operations of US$10.7m. Third quarter results from continuing operations include an approximate US$1.6m reduction in income tax expense. For the third quarter of the prior fiscal year, the Company reported sales of US$380.1m and income from continuing operations of US$1.9m.
El Al concluded 2015 with a net profit of approx. US$106.5m, compared to a loss of approx. US$-28m in the last year. Profit before tax amounted to approx. US$144.6m compared to a loss before tax of approx. US$-38m in 2014. Revenues in 2015 amounted to approx. US$2.054bn, compared to US$2.081m in 2014. Operation costs decreased
Aircastle announced the pricing of US$500m aggregate principal amount of its 5.00% senior notes due 2023 (the “notes”). The notes were priced at par. Aircastle plans to use the net proceeds of the offering for general corporate purposes, which may include the acquisition of aircraft or the refinancing of its existing indebtedness. The offering is
Lufthansa Technik AG, headquartered in Hamburg, increased its turnover and profit in 2015, continuing its growth course. Sales revenues grew by 17.6% to around €5.1bn (up €762m). The company achieved 20% growth in its adjusted EBIT (Earnings Before Interest and Taxes) to €454m (previous year: €380m). “This is a strong result,” said the Chairman of
In 2015, the Lufthansa Group generated revenues of €32.1bn, a 6.8% increase on the previous year. The Adjusted EBIT, the leading indicator of economic success, increased by 55% to €1.8bn. Hence, the result sits within the forecast range defined last October, even including some €100m earnings impact as a result of strikes in the fourth
Despite some extraordinary obstacles such as the appreciation of the Swiss franc and export embargoes, RUAG increased its earnings before interest and taxes (EBIT) substantially in 2015, bringing the total to CHF 137m (previous year: CHF 113m). All five divisions operated profitably and contributed to the positive Group result. Owing to the strong Swiss franc,
The Fraport Group closed fiscal year 2015 successfully with a 2.5% rise in passenger traffic – serving 61 million at its Frankfurt Airport (FRA) home base – as well as a significant increase in its key financial figures. Group revenue climbed 8.4% year-on-year to €2.58bn (adjusted for IFRIC 12). The Group’s operating profit (EBITDA) increased
