DVB Bank SE, the international transport finance specialist, increased consolidated net income before taxes for the first half of 2015 by 4.6% year-on-year, to €43.3m (previous year: €41.4m). Interest income rose by 18.9%, from €434.7m to €516.8m. Allowance for credit losses amounted to €39.7m (previous year: €27.9m), net interest income after allowance for credit losses
Air Canada reported second quarter adjusted net income of C$250m compared to adjusted net income of C$139m in the second quarter of 2014, an improvement of C$111m or approximately 80%. EBITDAR (earnings before interest, taxes, depreciation, amortization and aircraft rent) amounted to C$591m compared to EBITDAR of C$45m in the same quarter in 2014, an
TAT Technology, a leading provider of services and products for the commercial and military aerospace and ground defense industries, has entered into a definitive agreement to acquire Chromalloy Israel for approximately US$3.5m (subject to certain price adjustments) in cash payable at the closing of the transaction. TAT shall pay additional amounts of up to US$
Avolon, the international aircraft leasing company, has entered into an Exclusivity Agreement with Bohai Leasing granting Bohai exclusivity to negotiate with Avolon until September 7th, 2015 with respect to the possible acquisition of 100% of the issued and outstanding common shares of Avolon at a price of US$32 per share. During the Exclusivity Period, Bohai
Finnair, Staffpoint Holding (Staffpoint) and G.W. Sohlberg (GWS) have previously indicated an intention to conclude a transaction whereby 60% of the shares in Nordic Regional Airlines AB would be transferred to the ownership of Staffpoint and GWS. As of March 31st, 2015, Finnair has owned 100% of the company during an interim permission by the
Republic’s pre-tax income for the second quarter of 2015 was US$9.1m, compared to US$33.3m for the prior year’s second quarter. Republic’s net income for the second quarter of 2015 was US$4.3m compared to prior year net income of US$20.1m. The effective tax rate of 52.7% for the quarter was higher than the normalized tax rate,
Hawker Pacific and Aeromil Pacific have entered into a definitive agreement under which Hawker Pacific has acquired Aeromil Pacific for an undisclosed amount. Aeromil Pacific, established in 1980, is one of the largest and most successful privately owned and operated aviation organisations in the region specialising in new Cessna aircraft sales, pre-owned aircraft sales, aircraft
Creditors have chosen ANA, Japan’s largest airline, to sponsor financially troubled Skymark Airlines’ rehabilitation. Skymark is Japan’s third-largest airline. Delta had offered to back an alternative plan, an indication of its commitment to serving the region. Masaru Morimoto, Delta’s managing director of Japan, thanked Skymark’s creditors and business partners for their support of the Creditors’
Air Transport Services Group, a provider of medium wide-body freighter aircraft leasing, air cargo transportation and related services, reported consolidated financial results for the quarter ended June 30th, 2015. Pre-tax earnings from continuing operations increased 17% to US$17.2m, including a 35% increase in Cargo Aircraft Management’s pre-tax earnings, driven by eight additional freighters leased to
CMB Financial Leasing has announced the closing of a financing facility for the refinancing of 3 aircraft currently in its fleet. The aircraft portfolio – consisting of one A330-300, one 737-800 and one A320-200 – are currently on long-term finance leases to China Southern Airlines. CMB Financial Leasing mandated Morgan Stanley and DVB Bank as
