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
Finnair reported that fourth quarter 2015 revenue grew by 5.9% year-on-year to €585.5m compared to €552.7m. Operational result was €0.8m compared to (€-9.3m) in 2014. Operational EBITDAR was €59.5m, compared to €43.5m the previous year. Net cash flow from operating activities stood at €7.1m compared to (€-15.7m) in 2014 and cash flow from investments totalled
Spirit Airlines reported fourth quarter and full year 2015 financial results. Adjusted net income for the fourth quarter 2015 increased 24.9% to US$73.3m compared to the fourth quarter 20141. GAAP net income for the fourth quarter 2015 increased 33.1% year over year to US$74.4m compared to the fourth quarter 2014. Adjusted net income for the
ASL Aviation Group has reached agreement to acquire the airline operations of TNT Express N.V. (hereafter TNT), comprised of TNT Airways (Belgium) and Pan Air Líneas Aéreas (Spain). The agreement is conditional on the completion of the intended acquisition of TNT, which is expected in the first half of 2016. The change of ownership and
Magnetic MRO, Aircraft Maintenance and Repair Organization, completed acquisition of MAC Interiors, a UK based aircraft Interiors production and Engineering company. Aircraft modifications, interior upgrades and retrofitting are expected to outgrow the general pace of development of the global MRO industry. Thus acquisition of MAC Interiors is a strategic step for Magnetic MRO in building
