Financial

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

Spirit AeroSystems reported fourth quarter and full-year 2015 financial results driven by strong operating performance of mature programs. Spirit’s fourth quarter 2015 revenues were US$1.61bn, up 2% from revenues of US$1.57bn for the same period of 2014, primarily due to higher revenues on the A350 XWB program driven by higher production deliveries. Operating income for

WestJet released fourth quarter and year-end results for 2015, with full-year net earnings of CA$367.5m. This compares with the adjusted net earnings of CA$317.2m reported in the full-year 2014, up 16% and 19%, respectively. For the fourth quarter, the airline reported diluted earnings per share of CA$0.51, down 27% from CA$0.70 reported last year. These

Ryanair posted 3rd quarter profits of €103m, a 110% increase on prior year. Traffic grew 20% to 25m as average fares fell 1% to €40 (load factors rose 5% points to 93%) while unit costs fell by 5% (ex-fuel down 1%). “We are pleased to report that our low fares policy delivered strong 3rd quarter

Singapore Technologies Aerospace has completed its investment of the additional 20% equity interest in Elbe Flugzeugwerke GmbH (EFW). The investment was completed following the receipt of regulatory approvals and fulfilment of customary conditions precedent. Following this completion, EFW becomes a subsidiary of ST Aerospace, with the latter owning 55% of the shareholding and Airbus Defence

JetBlue Airways reported its results for the fourth quarter and full year 2015, with operating income of US$330m in the fourth quarter. This compares to operating income of US$169m in the fourth quarter of 2014. For the full year 2015, JetBlue reported operating income of US$1.2bn. This compares to operating income of US$515m in 2014.